ACORN, Obama, and the Mortgage Mess

Is there enough blame to go around? It sure appears that way. Bottom line is still greed, not the Americans who were looking to fulfill the American dream of owning their own home. If we decide to punish everyone who ever over extended themselves, who will "cast the first stone"?

http://query.nytimes.com/gst/fullpage.html? res=9C02EEDF1E3CF934A35756C0A96F958260

http://www.ickypeople.com/2008/04/bill-clinton-major-part-in-subprime.html

The Gramm-Leach-Bliley Act of 1999 (called the Financial Services Modernization Act at the time) repealed 66 years of consumer protections and paved the way for financial mergers and the introduction of new investment products. The Act was written by Republican Senators including Phil Gramm, and early voting was split down party lines until President Clinton forced a rewrite of the bill.

As for Phil Gramm, the Republican Senator from Texas left Washington to become Vice Chairman for UBS Investment Bank, a Swiss bank that used the Gramm-Leach-Bliley Act to purchase Paine Weber and become the largest private financial services bank in the world. To make the story even more complicated, Phil Gramm is also serving as co-chairman and financial adviser of John McCain's 2008 Presidential campaign, and would reportedly be in the running for a cabinet job if McCain were to win, most likely as Treasury Secretary.

Acorn has been investigated for fraud. As well as the dems where take large amount of money from mortgage giants. The have been in charge of the banking committee and have done nothing about this. The dems had alot of influence on the standards of the mortgage giants. Also Obama is link to many extreme groups. That is a rolling stone article from 2004 that obama states that Rev Wright is his mentor and his teaching have guide his believes today. Also his relationship with Ayers. This isn't just about having skeletons in the closet it is these people hate America and Obama has there believe system. But all off Obama's supports blow this off as not important. this very scary that people are comfortable with him in the white house.

The CAC was the brainchild of Bill Ayers, a founder of the Weather Underground in the 1960s. Among other feats, Mr. Ayers and his cohorts bombed the Pentagon, and he has never expressed regret for his actions. Barack Obama's first run for the Illinois State Senate was launched at a 1995 gathering at Mr. Ayers's home.

The Obama campaign has struggled to downplay that association. Last April, Sen. Obama dismissed Mr. Ayers as just "a guy who lives in my neighborhood," and "not somebody who I exchange ideas with on a regular basis." Yet documents in the CAC archives make clear that Mr. Ayers and Mr. Obama were partners in the CAC. Those archives are housed in the Richard J. Daley Library at the University of Illinois at Chicago and I've recently spent days looking through them.

the reason for this whole insanity is a combination of everything. Both dems and republicans are responsable for this. There was a huge amount of fraud on the borrows part and the banks, mortgage companies were giving away money and not verify things. Example I just back from Arizona and they were giving mortgages to illegals. Once they started cracking down on illegals they cash out on their home equities and left the country with the cash.

Then comes the banks with the unregulate Credit default swaps. There is 1 trillion in sub prime loans and 62 trillion of credit default swaps. These start in the clinton era. What till that crashes. Bottom line it is the people that work and try to make an honest living that pay for everyone's greed. All the politicans made money on this and did nothing about it. Including Obama and McCain. There is no change politican in this election period

I blame both sides for mistakes. But look were your seed came from Real Clear Politics. John McIntyre and Tom Bevan who's perspective would be for the Rep. side of the coin. Come on get real !!!

So George I bet you find Kieth Oberman an orical then. Get real. Newsvine is floodwed everyday with diatribes from the left . All I see in the Top News reel is Sarah Palin and McCain bashing seeded every once in a while with people from the right.

Huffington shows her distain for thr Republicans on a daily basis so much even Stevie Wonder could see her bias.

BASED IN FACT? Not in this life time..

Blaming Dems for the housing crisis by the inclusion of the CRE in the '99 Gramm bill is outright racist. Those shiftless blacks, they brought the whole system down!

Why don't you listen what Bush said in '02:

http://www.youtube.com/watch?v=eW9viaJatpo

I'm not going to blame Bush either, no matter what he said, the entire responsibility falls on the lap of the financiers and their corruption.

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transcript:

"More and more people own their homes in America today. Two-thirds of all Americans own their homes, yet we have a problem here in America because few than half of the Hispanics and half the African Americans own the home. That's a homeownership gap. It's a -- it's a gap that we've got to work together to close for the good of our country, for the sake of a more hopeful future. We've got to work to knock down the barriers that have created a homeownership gap."

"Freddie Mae -- Fannie Mae and Freddie Mac -- I see the heads who are here; I want to thank you all for coming -- (laughter) -- have committed to provide more money for lenders. They've committed to help meet the shortage of capital available for minority home buyers."

"Freddie Mac recently began 25 initiatives around the country to dismantle barriers and create greater opportunities for homeownership. One of the programs is designed to help deserving families who have bad credit histories to qualify for homeownership loans."

"...you don't have to have a lousy home for first-time home buyers. If you put your mind to it, the first-time home buyer, the low-income home buyer can have just as nice a house as anybody else."

---GW Bush October 15, 2002

ALL 50 of the Attorney's General attempted to stop predatory lending by the banks that are now whining that they need us to bail them out of the mess that they got themselves into.

What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge? As Americans are now painfully aware, with hundreds of thousands of homeowners facing foreclosure and our markets reeling, the answer is a resounding no.