Posted on 04/04/2009 4:26:52 PM PDT by FreeKeys
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by forcing the banks to make all those millions of bad loans, pulling the rug out from under the banks and insurance cos. IN THE FIRST PLACE     You didn't know this? Perhaps you didn't know that newsmen have agendas and DELIBERATELY hid the facts from you. |
Yes, RINOs are still in office. But the Democrat party controls Congress now. Most of us know chapter and verse about who did what and when it was done (except for where that September $550 Bn went that caused the secret Congressional meeting). We even have proof of 0bama’s court case in the mortgage offerings to the ‘less fortunate,’ which puts him square in the middle of the mess. Democrat, Republican—we have made up our minds about this.
However, what are we supposed to expect for future lending practices, investments and other instruments that don't appear to have changed. AT ALL. It's like someone causing a ruckus as a delaying tactic while the real control team moves in. OTOH, it's like burning money in a stove. Without protections to prevent future repercussions, we might as well for all the good it will do.
I was contemplating a tea party sign that read.
“Honk if I’m paying or your bonus.”
If McCain had been in office, it would be going on, just like now and just the same...
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There might be some minor differences but the biggest difference would have been that if McCain had done and said exactly the same things as Obama there would have been impeachment proceedings already under way and the media would have been screaming 24/7 that we had a mad man in the white house.
I don’t know... McCain rushed in there and said we had to have that bailout.... LOL...
“Irony....a negro is enslaving my white grandkids.”
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True, too true, there will be endless arguments about the causes of the “American Civil War” but one thing is certain. The decision to use slave labor in this country was the biggest mistake possible, every advantage anyone ever gained by using slave labor has been paid for over and over in blood, sweat, toil and tears and the paying has just begun. It is hard to imagine a worse bargain.
Can anyone name a nation ruled by black men that has ever prospered and become a place people wanted to move to rather than escape from?
McCain rushed in there and said we had to have that bailout....
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
That he did, I wonder what the outcome would have been had he had brains enough to stand up and oppose the bailout with every ounce of strength he had. He still might have lost but he would have been respected more today.
I guess your forgot about whe Bush went on the primetime airwaves to plead for a bank bailout while Paulson was threatening us with global meltdown drum.
Yeah guess the white were feeling more secure when it was Bush and Paulson that were enslaving our grand kids....
Well the white grandkids at least...
WTF is wrong with this place?!
Sorry for the incorrect number:
Senate - 100
House - 435
Total - 535
Senior Moment, Oops
It’s still all going on while our fearless leaders assure us that the problems are being fixed...
“Can anyone name a nation ruled by black men that has ever prospered and become a place people wanted to move to rather than escape from?”
Nope.
Bush had a chance to fix the wrongs of what both these Presidents did.
Instead Bush added to the burden by putting more harmful programs and policies of his own into place.
I can't believe anyone honestly thinks Bush wanted to help Americans when he opened the US banking and mortgage market to Mexican illegal aliens.
No one around these parts thinks he wanted to help Americans when he wanted to make US citizens out of these very same Mexicans.
I guess the one good thing to come from this fiasco is that it proves beyond any doubt where these Mexicans' loyalty lies.
It ain't America.
I wrote:
Bush had a chance to fix the wrongs of what both these Presidents did.
But, meant to write:
Bush had a chance to fix the wrongs of what both Clinton and Carter did.
I can think of a certain Pubbie...Texas Senator Phil Gramm...
This is NOT a partisan issue..this is a matter of Washington versus America.. Quite simply the clowns in Congress sold the regulatory apparatus We the People installed to protect the country from a 1929 repeat. It remains to be seen how the sheeple will stand for this.
Well, then. You'll love what Bush did.
From: Linking International Remittance Flows to Financial Services: Tapping the Latino Immigrant Market
In June 2004, in an effort to encourage more banks to enter the remittance market and improve access to the U.S. banking system among recent Latin American immigrants, bank regulatory agencies clarified that financial institutions offering low cost international remittance services would receive credit under the Community Reinvestment Act (CRA).18 Regulated financial institutions are required under the CRA to serve the convenience and credit needs of their entire communities, including low- and moderate-income areas. Most remittance senders to Latin America are low- to moderate-income immigrant wage earners who operate outside the formal banking system.
In addition, a growing number of U.S. banks accept alternative forms of identification to help taxpaying immigrants open bank accounts and secure other banking services; these include the Individual Taxpayer Identification Number (ITIN) and foreign government issued identification, such as the Mexican Matricula Consular card. The USA PATRIOT Act allows financial institutions to accept both forms of identification, enabling insured financial institutions to serve unbanked immigrants who live and work in the United States.
The ITIN, created by the U.S. Internal Revenue Service (IRS) for foreign-born individuals who are required to file federal tax returns, is a nine-digit number similar to the social security number (SSN) and is issued to individuals who are not eligible for the SSN. The Matricula Consular card is an identification card issued by the Mexican consulate to individuals of Mexican nationality who live in the United States. According to the Mexican government, an estimated 4 million Matricula cards have been issued in the United States.19
As an example of the effectiveness of using this form of identification, Wells Fargo opened more than 400,000 new accounts for Mexican immigrants, using the Matricula Consular card between November 2001 and May 2004. In recent months, Wells Fargo has averaged 22,000 new accounts per month, many of which feature the bank's remittance product.20 For example, the bank offers InterCuenta Express, an account-to-account wire transfer service that charges $8 to transfer up to $3,000 per day directly into a beneficiary's bank account in Mexico. Transfers can be initiated at the bank's branch or ATM in the United States, and the receiving party can access monies via the bank's sizeable remittance distribution network of more than 4,000 banking offices and 10,700 ATMs in Mexico. According to the Mexican government, 178 banks in the United States accept the Matricula Consular card to open bank accounts; 86 of these institutions are in the Midwest.21
NOTE: This report was written in 2004, two years before the peak of the sub-prime lending fiasco. This was just the ramp-up to that peak.
This was a $500 billion market and this was just the remittances.
In 2002, Bush said he wanted to see 5 million new minority (read: illegal alien) homeowners by 2010 and called on Fannie and Freddie to increase their minority (read: illegal alien) mortgage committment by $500 billion.
That was in addition to the remittance market and doesn't include credit cards or commercial loans.
Good thread. Thanks to all posters.
Here is a perfect sign for a TEA Party:
STOP OBAMAS SOCIALISM!
http://2.bp.blogspot.com/_rK3r4uBcEec/SQc5G9Pdq_I/AAAAAAAAAEE/7J5wo1TQHqk/s320/SOS-DAD3.jpg
>> cut that off by having Gold and Silver return as our money , as our Founders wished, and we kill the beast.
How do you make this happen?
That is un-called for and worse than irrelevant. Whether you realize it or not, it changes the subject from economics to bigotry, and opens us ALL to accusations of racism and even hatred, which I, for one DO NOT deserve, thank you. This country has numerous black conservatives for whom I would vote in a heartbeat. The fact that none have become president yet doesn't make your statement, while correct, worth making, IMCO.
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