phobicsquirrel: kuzi16: phobicsquirrel: No obama didn't create more debt. obama created more debt than all other presidents before him combined did. link go ahead and claim that if he did nothing it would have been worse, but you cant prove that and there is even evidence if you look back on Japans lost decade and the depression that doing nothing would actually be better link and link and link. feel free to claim that if bush would not have messed things up through all his deregulation obama would not have had to spend it all, but know that bush was the most regulating presidents since nixon link In a literal sense, financial services were never "deregulated," nor was there ever a serious attempt to do so. link the last major banking regulation change was signed into law in 1999 by Bill Clinton and approved in the Senate by Chuck Schumer, John Kerry, Chris Dodd and Joe Biden with a vote of 90-8. The change permitted commercial banks like Bank of America to enter into investment banking actions and, ironically, it is that diversification that has helped them to be strong enough to get through this crisis. link The combination of Mr. Bush's enactment of Sarbanes-Oxley and Mr. Spitzer's Wall Street prosecutions contributed to America's significant market-share loss of initial public offerings -- and the U.S. is yet to return to pre-Bush levels. While government reduced the profit-making potential in Wall Street's traditional bread-and-butter business, it was simultaneously encouraging investment in the housing sector. Neither activity constituted deregulation.link the fact is that both sides caused the housing crisis with a bit of help from people taking advantage of a poorly run systemlink and im sorry to hear about your aunt, and her ARM. that jump in price was in the contract when she bought the house. she should have known better. I read every paragraph of my agreement and i asked questions about it. my mortgage has never gone up. and i bought at the peak of the boom. she shouldnt have bought the house. she should have asked more questions. the proof is in the pudding. your last sentance here phobicsquirrel: This wasn't Obama's fault it was in good part due to the great regulations of the banks in the last admin. werent you claiming in THIS thread that it was Bush's DEREGULATION that caused the crisis, not his regulation? My last point was sarcastic.... fyi.Obama has not buddy, bush had a surplus when he got into office, and the things I mentioned were not paid for, so the tax cuts, and the wars were far more than the stimulus bill, not to mention the 700 billion that Bush pushed through (naming a few). and the heritage foundation which you linked too is nothing more than a lie machine that most recently has been pumping out lies about heath care. the history of the heritage foundation http://www.sourcewatch.org/index.php?title=Heritage_Foundation. And bush, not solely is responsible for allowing the free-ness on wallstreet and large companies but he certainly didn't do anything to fix it or to stop it. As for my aunt, yeah well I guess it's her fault not the bank. Again like puro you assume everyone should fall prey. her and millions of others have had this type of thing happen, but never mind the fact that these rates were not brought up to the buyer. Not many people read every line of a contract especially when buying a house (do you have your own home) as the paperwork is huge. Lenders are suppose to outline things such as payments and such. One of the big things was that a lot of these predatory lending were just that, they didn't specify the leaps in which payments would go up.
kuzi16: phobicsquirrel: No obama didn't create more debt. obama created more debt than all other presidents before him combined did. link go ahead and claim that if he did nothing it would have been worse, but you cant prove that and there is even evidence if you look back on Japans lost decade and the depression that doing nothing would actually be better link and link and link. feel free to claim that if bush would not have messed things up through all his deregulation obama would not have had to spend it all, but know that bush was the most regulating presidents since nixon link In a literal sense, financial services were never "deregulated," nor was there ever a serious attempt to do so. link the last major banking regulation change was signed into law in 1999 by Bill Clinton and approved in the Senate by Chuck Schumer, John Kerry, Chris Dodd and Joe Biden with a vote of 90-8. The change permitted commercial banks like Bank of America to enter into investment banking actions and, ironically, it is that diversification that has helped them to be strong enough to get through this crisis. link The combination of Mr. Bush's enactment of Sarbanes-Oxley and Mr. Spitzer's Wall Street prosecutions contributed to America's significant market-share loss of initial public offerings -- and the U.S. is yet to return to pre-Bush levels. While government reduced the profit-making potential in Wall Street's traditional bread-and-butter business, it was simultaneously encouraging investment in the housing sector. Neither activity constituted deregulation.link the fact is that both sides caused the housing crisis with a bit of help from people taking advantage of a poorly run systemlink and im sorry to hear about your aunt, and her ARM. that jump in price was in the contract when she bought the house. she should have known better. I read every paragraph of my agreement and i asked questions about it. my mortgage has never gone up. and i bought at the peak of the boom. she shouldnt have bought the house. she should have asked more questions. the proof is in the pudding. your last sentance here phobicsquirrel: This wasn't Obama's fault it was in good part due to the great regulations of the banks in the last admin. werent you claiming in THIS thread that it was Bush's DEREGULATION that caused the crisis, not his regulation?
phobicsquirrel: No obama didn't create more debt.
phobicsquirrel: This wasn't Obama's fault it was in good part due to the great regulations of the banks in the last admin.
PuroFreak:OMG Phobic, you are right again... Since people can't take the time to READ something, the government really should step in and take care of things for them... What ever happened to personal responsibility in this country? Why is it up to the government to take care of us like we are retarded 3rd graders?
phobicsquirrel: sure I'll agree that it could be more, but with infrastructure changes, manufacturing increases, and health care reform they all will reduce the debt,
phobicsquirrel: PuroFreak:OMG Phobic, you are right again... Since people can't take the time to READ something, the government really should step in and take care of things for them... What ever happened to personal responsibility in this country? Why is it up to the government to take care of us like we are retarded 3rd graders? Well a lot of people are. If there were no government things would be better, right?
cabinetmaker:Obama finally addresses the massacre at Ft. Hood after babbling on for 2 minutes thanking everyone for putting on the event; and offering a "shout out" with a wry grin. What a wonderful human being we have for a president. Go to hell, Mr. Obama.
gmill880: phobicsquirrel: kuzi16: phobicsquirrel: No obama didn't create more debt. obama created more debt than all other presidents before him combined did. link go ahead and claim that if he did nothing it would have been worse, but you cant prove that and there is even evidence if you look back on Japans lost decade and the depression that doing nothing would actually be better link and link and link. feel free to claim that if bush would not have messed things up through all his deregulation obama would not have had to spend it all, but know that bush was the most regulating presidents since nixon link In a literal sense, financial services were never "deregulated," nor was there ever a serious attempt to do so. link the last major banking regulation change was signed into law in 1999 by Bill Clinton and approved in the Senate by Chuck Schumer, John Kerry, Chris Dodd and Joe Biden with a vote of 90-8. The change permitted commercial banks like Bank of America to enter into investment banking actions and, ironically, it is that diversification that has helped them to be strong enough to get through this crisis. link The combination of Mr. Bush's enactment of Sarbanes-Oxley and Mr. Spitzer's Wall Street prosecutions contributed to America's significant market-share loss of initial public offerings -- and the U.S. is yet to return to pre-Bush levels. While government reduced the profit-making potential in Wall Street's traditional bread-and-butter business, it was simultaneously encouraging investment in the housing sector. Neither activity constituted deregulation.link the fact is that both sides caused the housing crisis with a bit of help from people taking advantage of a poorly run systemlink and im sorry to hear about your aunt, and her ARM. that jump in price was in the contract when she bought the house. she should have known better. I read every paragraph of my agreement and i asked questions about it. my mortgage has never gone up. and i bought at the peak of the boom. she shouldnt have bought the house. she should have asked more questions. the proof is in the pudding. your last sentance here phobicsquirrel: This wasn't Obama's fault it was in good part due to the great regulations of the banks in the last admin. werent you claiming in THIS thread that it was Bush's DEREGULATION that caused the crisis, not his regulation? My last point was sarcastic.... fyi.Obama has not buddy, bush had a surplus when he got into office, and the things I mentioned were not paid for, so the tax cuts, and the wars were far more than the stimulus bill, not to mention the 700 billion that Bush pushed through (naming a few). and the heritage foundation which you linked too is nothing more than a lie machine that most recently has been pumping out lies about heath care. the history of the heritage foundation http://www.sourcewatch.org/index.php?title=Heritage_Foundation. And bush, not solely is responsible for allowing the free-ness on wallstreet and large companies but he certainly didn't do anything to fix it or to stop it. As for my aunt, yeah well I guess it's her fault not the bank. Again like puro you assume everyone should fall prey. her and millions of others have had this type of thing happen, but never mind the fact that these rates were not brought up to the buyer. Not many people read every line of a contract especially when buying a house (do you have your own home) as the paperwork is huge. Lenders are suppose to outline things such as payments and such. One of the big things was that a lot of these predatory lending were just that, they didn't specify the leaps in which payments would go up. Sorry (genuinely) about your Aunts problem/position. Glen their are truth in lending laws in place that should prohibit something of this nature ever happening. I also believe with most adjustable rate mortgages in was mandantory to give the borrower a copy of a loan re-payment schedule which outlined not only how much her rate could change each year but what the resulting paynent would be. Back when I was in mortgage lending I would go over this schedule with a customer before they ever went to the mortgage closing just in case the attorney or their personnel were slack about it. Some unscrupulous lender/attorneys office may have indeed been negligent in the closing of your aunts loan and that is an unfortunate thing ... a lesson I'm sure she won't repeat. No one should ever sign anything they do not fully 100% understand no matter what it is . Unfortunatly I think some people are intimidated by the process/people involved/attorneys and just sign and go on thinking it will be OK. Not an accusation just an opinion (I'm not talking about your aunt Glen but about people in general ) I'm glad she's one of the lucky ones with a good job and is still ok and can keep her home my friend ...
Smokeee: cabinetmaker:Obama finally addresses the massacre at Ft. Hood after babbling on for 2 minutes thanking everyone for putting on the event; and offering a "shout out" with a wry grin. What a wonderful human being we have for a president. Go to hell, Mr. Obama. Reminds me of GWB after hurrican Katrina!
kuzi16: phobicsquirrel: sure I'll agree that it could be more, but with infrastructure changes, manufacturing increases, and health care reform they all will reduce the debt,HA HA HA HA HA H!!! thats great... there isnt a single government program out there that makes any money. all of them run in the red. the government doesnt care about profit. they have "endless money" either by Taxing us or by printing more
phobicsquirrel: kuzi16: phobicsquirrel: sure I'll agree that it could be more, but with infrastructure changes, manufacturing increases, and health care reform they all will reduce the debt,HA HA HA HA HA H!!! thats great... there isnt a single government program out there that makes any money. all of them run in the red. the government doesnt care about profit. they have "endless money" either by Taxing us or by printing more Govt doesn't make money aye? okay. If that was true than our nation would have never started. All governments make money, it's what they do with it.
PuroFreak: Smokeee: cabinetmaker:Obama finally addresses the massacre at Ft. Hood after babbling on for 2 minutes thanking everyone for putting on the event; and offering a "shout out" with a wry grin. What a wonderful human being we have for a president. Go to hell, Mr. Obama. Reminds me of GWB after hurrican Katrina!LMFAO Thats funny sh*t right there... Compare a hurricane that EVERYONE knew for a week was coming to a shooting that NOBODY could have predicted. I personally don't have a problem with what Obama said, but to compare this to Katrina is insane. If I had 3 days notice that a hurricane was coming, I coulda walked my happy a$$ outta New Orleans. The people who were trapped there were stupid. Plain and simple.