Barack Obama's Involvement with ACORN
Quote:
Originally Posted by justanotherbozo
for those that object to 'guilt by association', if you think those associations
are no big deal, how come you're not offended by his lieing about those
associations? isn't that a big deal? doesn't it bother you that, if he were just
another guy applying for a government job, he wouldn't pass the security
clearance? shouldn't the man we elect to the most powerful job in the free
world have some integrity? or is being a pretty speaker enough?
Obama is a gifted speaker, a rousing orator promising to save you from the big
bad Bush! the problem is, it hasn't been Bush that's been the biggest problem
these last 8 years. and i'm not saying that in defense of Bush, i don't like him
either.
the fact is, it's the Democrats who are responsible for this financial crisis that
we're all living through right now, with Dodd and Frank leading the way.
and considering that, in just 3 years, Obama has taken more money from Fannie
and Freddie than every other politician except Dodd who's been taking money
from Fannie and Freddie for 20 years, and, considering that 2 of his top advisors
were top executives at Fannie and Freddie, well, i just wonder what we don't
know.
if Obama gets elected, we are in big trouble! he's proven himself to be a liar!
Lies are a non issue. Neither side tells the whole truth, therefore this point is practically invalid. People never seemed to have the slightest problem with Bush's bold faced lies for both terms in office, so I don't see how it's a problem now. And yes, being a pretty speaker is much better than just having a pretty face (see Palin). Also, you say it hasn't been Bush that's put us in this spot over 8 years, you are correct. It's been Bush, the Republican Congress, and the Democratic congress. MY GOD! There's plenty of blame to go around! I'm astonished! If Obama gets elected, we have a chance to not SUCK to most of the world. If McCain get's elected, we just start sticking barrels down everyones throats, drilling for oil we that SHOULDNT EVEN STILL BE USING BY NOW. If anything, I think Obama lies less than most politicians. McCain probably even lies less than most, but I think it's just because he can't seem to get a strong, clear message through, let alone keep his campaign from being in total shambles lately.
Barack Obama's Involvement with ACORN
Quote:
Originally Posted by daihashi
Earlier you posted the voters registration act.. it says that coercion is not allowed.
Giving someone money and cigarrettes is coercion. Granted I would not register if someone told me they would give me money; but that's me. At the same time I cannot say I fault the individual to the same degree that I fault Acorn. The organization should not be using these tactics in the first place.
When a cigarette vendor comes into a bar and says they'l give you free stuff for filling out a survey... I can't say that I blame them and it's human nature to see many people flock to these vendors. Free... cigarettes..
The organization ACORN are manipulating people by the very nature of humans themselves. This is not right and furthermore is illegal.
So now we've done a 180; before you were defending ACORN and now, at least to some degree, agree with the manipulative, corrupt and illegal methods they are using to register voters.
I'm glad that you were able to see the situation for what it is finally; if even on only a small level.
:hippy:
I'll give you that some people that are working for them are using corrupt methods to try and further themselves, as they get paid based on how many voters they register each day. But, to say that there is some vast consipiracy that ACORN itself has perpetrated, to register thousands upon thousands of people to vote that aren't even real people, just doesn't pass the litmus test for not being absolutely retarded.
Barack Obama's Involvement with ACORN
Quote:
Originally Posted by AspenGrow
I'll give you that some people that are working for them are using corrupt methods to try and further themselves, as they get paid based on how many voters they register each day. But, to say that there is some vast consipiracy that ACORN itself has perpetrated, to register thousands upon thousands of people to vote that aren't even real people, just doesn't pass the litmus test for not being absolutely retarded.
It's the organizations job to maintain credibility; and part of that credibility is to ensure that all activities going on associated with it's name are legal.
When you go to the grocery store and an item is priced differently at check out you don't blame the individual who mispriced the item on the shelves. You typically blame the store or if you were to repeat the story to another person you wouldn't say "Michelle the cashier screwed me over". You would say "<insert local grocery store name here> screwed me over".
Ultimately ACORN is accountable for the actions of the individuals which it employs. This is obviously a wide spread problem yet we don't see ACORN taking any measures to stop it. Doesn't that seem fishy to you?
Barack Obama's Involvement with ACORN
"it's a fact that in 2001 Bush tried to introduce legislation to impose stiffer
regulations on Fannie and Freddie. "
- so we can add fannie and freddie to his list of failed objectives along with bin laden...it is a fact that george bush introduced legislation to make it easier for banks (including fannie and freddie) to issue mortgages to low income people with impaired credit...it is a fact that george bush pressured fannie and freddie to issue half a trillion dollars of mortgages to low income families...it is a fact that george bush pressured private banks to issue more mortgages to low income families...bush has personally pimped risky mortgage lending practices since his first state of the union speech right up until 2006 (at least)
george bush's role in the subprime crisis:
http://boards.cannabis.com/politics/...ml#post1923895
"the Democrats have spent the last 8 years dedicated to making Bush look
bad"
- i think george bush deserves most of the blame for his administration's record...the democrats didn't force bush to submit budgets with 50% more federal spending...the democrats didn't force george bush to double the national debt...the democrats didn't force george bush to invade iraq based on a pack of lies...george bush has led the country from one disaster to another, undermining national security and creating fiscal imbalances of mindboggling proportions...sadly, the democrats did more to enable bush than undermine him...they deserve blame for bush's failures too - they let america down
Barack Obama's Involvement with ACORN
Quote:
Originally Posted by maladroit
"it's a fact that in 2001 Bush tried to introduce legislation to impose stiffer
regulations on Fannie and Freddie. "
- so we can add fannie and freddie to his list of failed objectives along with bin laden...it is a fact that george bush introduced legislation to make it easier for banks (including fannie and freddie) to issue mortgages to low income people with impaired credit...it is a fact that george bush pressured fannie and freddie to issue half a trillion dollars of mortgages to low income families...it is a fact that george bush pressured private banks to issue more mortgages to low income families...bush has personally pimped risky mortgage lending practices since his first state of the union speech right up until 2006 (at least)
Actually it was democrats that leveraged pressure against fannie and Freddie in the early 90's
You've been clinging to that statement about Bush in regards to the mortgage crisis for some time now and I've corrected you each time. The problem was not spurred by Bush nor did it start with him
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
Fannie Mae Eases Credit To Aid Mortgage Lending - New York Times
In October 1992, a brief debate unfolded on the floor of the House of Representatives over a bill to create a new regulator for Fannie Mae and Freddie Mac. On one side stood Jim Leach, an Iowa Republican concerned that Congress was "hamstringing" this new regulator at the behest of the companies.
He warned that the two companies were changing "from being agencies of the public at large to money machines for the stockholding few."
On the other side stood Barney Frank, a Massachusetts Democrat who said the companies served a public purpose. They were in the business of lowering the price of mortgage loans.
Congress chose to create a weak regulator, the Office of Federal Housing Enterprise Oversight. The agency was required to get its budget approved by Congress, while agencies that regulated banks set their own budgets. That gave congressional allies an easy way to exert pressure.
How Washington Failed to Rein In Fannie, Freddie
Here it is straight from Bill Clinton's mouth:
YouTube - Bill Clinton Agrees That Democrats Caused Financial Crisis
[/QUOTE]
Barack Obama's Involvement with ACORN
Quote:
Originally Posted by maladroit
"it's a fact that in 2001 Bush tried to introduce legislation to impose stiffer
regulations on Fannie and Freddie. "
- so we can add fannie and freddie to his list of failed objectives along with bin laden...it is a fact that george bush introduced legislation to make it easier for banks (including fannie and freddie) to issue mortgages to low income people with impaired credit...it is a fact that george bush pressured fannie and freddie to issue half a trillion dollars of mortgages to low income families...it is a fact that george bush pressured private banks to issue more mortgages to low income families...bush has personally pimped risky mortgage lending practices since his first state of the union speech right up until 2006 (at least)
george bush's role in the subprime crisis:
http://boards.cannabis.com/politics/...ml#post1923895
"the Democrats have spent the last 8 years dedicated to making Bush look
bad"
- i think george bush deserves most of the blame for his administration's record...the democrats didn't force bush to submit budgets with 50% more federal spending...the democrats didn't force george bush to double the national debt...the democrats didn't force george bush to invade iraq based on a pack of lies...george bush has led the country from one disaster to another, undermining national security and creating fiscal imbalances of mindboggling proportions...sadly, the democrats did more to enable bush than undermine him...they deserve blame for bush's failures too - they let america down
you know, this stuff isn't even hard to find for those that want to know the
truth!
here's check this clip out YouTube - McCain's Early Recognition of Fannie/Freddie Crisis
The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001.
Unfortunately, Congress did not act on the president's warnings:
** 2001
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."
** 2002
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)
** 2003
January: Freddie Mac announces it has to restate financial results for the previous three years.
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that "although investors perceive an implicit Federal guarantee of [GSE] obligations," "the government has provided no explicit legal backing for them." As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. ("Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO," OFHEO Report, 2/4/03)
September: Fannie Mae discloses SEC investigation and acknowledges OFHEO's review found earnings manipulations.
September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.
October: Fannie Mae discloses $1.2 billion accounting error.
November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)
** 2004
February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and thereforeâ?¦should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)
February: CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)
June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)
** 2005
April: Treasury Secretary John Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in Americaâ?¦ Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)
** 2007
July: Two Bear Stearns hedge funds invested in mortgage securities collapse.
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, The White House, 8/9/07)
September: RealtyTrac announces foreclosure filings up 243,000 in August â?? up 115 percent from the year before.
September: Single-family existing home sales decreases 7.5 percent from the previous month â?? the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs â?? and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, The White House, 12/6/07)
** 2008
January: Bank of America announces it will buy Countrywide.
January: Citigroup announces mortgage portfolio lost $18.1 billion in value.
February: Assistant Secretary David Nason reiterates the urgency of reforms, says "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
March: Bear Stearns announces it will sell itself to JPMorgan Chase.
March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by â?¦ helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that â?? and Congress is making progress on this â?? is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
"Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
July: Congress heeds the President's call for action and passes reform of Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
In 2005-- Senator John McCain partnered with three other Senate Republicans to reform the governmentâ??s involvement in lending.
Democrats blocked this reform, too.
More... Not only did democrats not act on these warnings but Barack Obama put one of the major Sub-Prime Slime players on his campaign as finance chairperson.
UPDATE: The media is not reporting that the failed financial institutions are big Obama donors.
Barack Obama's Involvement with ACORN
if george bush and tony snow were trying to reform fannie and freddie, why did they pressure them to take on more risky mortgages to low income families for over five years? if they knew fannie and freddie were at risk from their ballooning portfolios, why did george bush call upon fannie and freddie to issue half a trillion dollars of mortgages to low income homebuyers?
i took a look at that list and noticed that it had very little to do with the subprime crisis which would have occurred anyway even if bush had achieved 100% of his objectives on that list...when fannie and freddie broke down, they were responsible for issuing less than 20% of the risky mortgages behind the crisis, and that was after years of george bush bullying them to catch up to the private sector in issuing risky mortgages...here is the real record of bush and his administration leading up to the subprime crisis:
january 2002: state of the union speech, george bush promises "broader home ownership, especially among minorities"
President Delivers State of the Union Address
june 2002: george bush announces plans to expand home ownership among low income families by 5.5 million, and "increase by at least $440 billion, the financial commitment made by the government sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market" DESPITE the fact that "overall homeownership rate has reached an all time high of nearly 68 percent"
Fact Sheet: President Bush Calls for Expanding Opportunities to Homeownership
june 2002: credit unions respond positively to george bush's "America's Homeownership Challenge" to issue more mortgages to low income buyers
Dollar urges CUs to play a prominent role in Bush's "America's Homeownership Challenge" - Credit Union Times
october 2002; george bush hosts conference on minority home ownership with top financial institutions:
President Hosts Conference on Minority Homeownership
YouTube - economic crisis president bush mortgage speech
in 2004, george bush seeks to increase home ownership rates by eliminating downpayment requirements for mortgages, targetting "first-time buyers with somewhat impaired credit":
USATODAY.com - Bush seeks to increase minority homeownership
september 2004: george bush announces plans to expand 'affordable' home ownership by 7 million with a series of policies targetting towards low income buyers:
Increasing Affordable Housing and Expanding Homeownership
april 2005, george bush's former neighbour and personal friend, HUD secretary alphonzo jackson, partners up with bush's treasury secretary to announce the bush administration's position that freddie and fannie need to catch up to the private sector in issuing mortgages to low income and minority customers:
HUD Testimony - Statement of HUD Secretary Alphonso Jackson, before the U.S. House Committee on Financial Services, 4/13/05
february 2006: bush administration 2007 budget reforms FHA to support low income home buyers "The President's proposed budget is a real investment in building a society based on ownership"
HUD News Release 06-013
Barack Obama's Involvement with ACORN
Quote:
Originally Posted by AspenGrow
I'll give you that some people that are working for them are using corrupt methods to try and further themselves, as they get paid based on how many voters they register each day. But, to say that there is some vast consipiracy that ACORN itself has perpetrated, to register thousands upon thousands of people to vote that aren't even real people, just doesn't pass the litmus test for not being absolutely retarded.
Sorry Mickey -- You Can' t Vote - Central Florida News 13
The Associated Press: ACORN office in Vegas raided in voter-fraud probe
The Maneater - County reports record number of new voters
States probe possible voter registration fraud -- chicagotribune.com
And Obama's "response" to the problem of voter fraud:
Political Punch
Now if this crap was happening with a pro-McCain group I'm SURE there would be a completely different type of post coming from alot of ya.
Have a good one!:s4:
Barack Obama's Involvement with ACORN
Quote:
Originally Posted by Psycho4Bud
lol, what he said!
Barack Obama's Involvement with ACORN
Quote:
Originally Posted by maladroit
if george bush and tony snow were trying to reform fannie and freddie, why did they pressure them to take on more risky mortgages to low income families for over five years? if they knew fannie and freddie were at risk from their ballooning portfolios, why did george bush call upon fannie and freddie to issue half a trillion dollars of mortgages to low income homebuyers?
i took a look at that list and noticed that it had very little to do with the subprime crisis which would have occurred anyway even if bush had achieved 100% of his objectives on that list...when fannie and freddie broke down, they were responsible for issuing less than 20% of the risky mortgages behind the crisis, and that was after years of george bush bullying them to catch up to the private sector in issuing risky mortgages...here is the real record of bush and his administration leading up to the subprime crisis:
january 2002: state of the union speech, george bush promises "broader home ownership, especially among minorities"
President Delivers State of the Union Address
june 2002: george bush announces plans to expand home ownership among low income families by 5.5 million, and "increase by at least $440 billion, the financial commitment made by the government sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market" DESPITE the fact that "overall homeownership rate has reached an all time high of nearly 68 percent"
Fact Sheet: President Bush Calls for Expanding Opportunities to Homeownership
june 2002: credit unions respond positively to george bush's "America's Homeownership Challenge" to issue more mortgages to low income buyers
Dollar urges CUs to play a prominent role in Bush's "America's Homeownership Challenge" - Credit Union Times
october 2002; george bush hosts conference on minority home ownership with top financial institutions:
President Hosts Conference on Minority Homeownership
YouTube - economic crisis president bush mortgage speech
in 2004, george bush seeks to increase home ownership rates by eliminating downpayment requirements for mortgages, targetting "first-time buyers with somewhat impaired credit":
USATODAY.com - Bush seeks to increase minority homeownership
september 2004: george bush announces plans to expand 'affordable' home ownership by 7 million with a series of policies targetting towards low income buyers:
Increasing Affordable Housing and Expanding Homeownership
april 2005, george bush's former neighbour and personal friend, HUD secretary alphonzo jackson, partners up with bush's treasury secretary to announce the bush administration's position that freddie and fannie need to catch up to the private sector in issuing mortgages to low income and minority customers:
HUD Testimony - Statement of HUD Secretary Alphonso Jackson, before the U.S. House Committee on Financial Services, 4/13/05
february 2006: bush administration 2007 budget reforms FHA to support low income home buyers "The President's proposed budget is a real investment in building a society based on ownership"
HUD News Release 06-013
Question for you.. why is it when you point the finger at Bush for the mortgage crisis and then I kindly point out that the problem was created and stems back from a democratic administration you completely ignore it as if I never said anything.
It's easy to avoid the source of the problem and place blame somewhere it doesn't belong.
Keep on pointing your Bush finger; you really look silly seeing as how not everything is Bush fault and I've been critical of president Bush over the years and I say this.
