Be honest: Who here has noticed lack of credit, hardship borrowing, etc?

Quote from gaj:

gnome - don't blame it all on the democrats, there's PLENTY of blame to go around. dems pushed FRE/FNM stuff in the 90s, repubs in the 00s.

i remember bush saying that he encouraged FRE/FNM to give easier loans to minorities way back when, and i screamed @ the tv when i heard it. this i found in a quick search, but i'm pretty sure it's the same time as when i was so upset at this stupid "have everyone have houses" bill.

http://archives.cnn.com/2002/ALLPOLITICS/06/17/bush.minority.homes/index.html
"President Bush touted his goal Monday of boosting minority home ownership by 5.5 million before the end of the decade through grants to low-income families and credits to developers."
...
"He urged Congress to expand the American Dream Down-Payment Fund, which would provide $200 million in grants over five years to low-income families who are first-time home buyers.

The money would be used for down payments, one of the major obstacles to home ownership, Bush said.

It is anticipated that 40,000 low-income families -- receiving about $5,000 each -- would benefit from those grants, he added. "
...
"Fannie Mae, Freddie Mac and the federal Home Loan Banks -- the government-sponsored corporations that handle home mortgages -- will increase their commitment to minority markets by more than $440 billion, Bush said.

Under one of the initiatives launched by Freddie Mac, consumers with poor credit will be able to obtain mortgages with interest rates that automatically decline after a period of consistent payments, he added. "


and
http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html

EDIT: this one's a doozy as well, esp. the ZERO-DOWNPAYMENT INITIATIVE:
http://www.whitehouse.gov/infocus/achievement/chap7.html
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Well, you know Bush was just being "politically expedient".

ALL attempts to reign-in FNM/FRE were met with vehement opposition by the Dems. So, if that's how it's gonna be, "might as well jump on board and say you support it", sort of thing.

I'm not making any excuses for Bush... he deserves NONE. He DESERVES TO BE KICKED IN THE NADS BY EVERY AMERICAN CITIZEN, for starters.

My comment on this is that "The DemoCraps started it"... shouldn't have... once in place, others jumped onboard... bad idea... lots of evil from all sides followed :mad:
 
Quote from John_Wensink:

I have recently purchased a home and I can tell you the standards for getting a mortgage is very different.

No more less than 20% down mortgages and every piece of income must be documented period.

My wife and I have a credit score in the high 700's and zero debt, never even bounced a check and we make good money but we had to shop around for a while to find what we wanted.

The biggest change I noticed is in two areas: The scrutiny and the type of products available.
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That's the way it's supposed to work. People with a low credit score not getting the best rate is not financial armageddon.
Personally I have experienced no issues with credit, but I have two friends that happen to be sales managers are local car dealerships. They're about one week away from offering BJ's to make a sale. It's not so much poor credit as it is there isn't anyone buying, period. Same way with real estate. My friends in that line say that the phone just doesn't ring.
Bottom line IMO, is that people like myself with good credit have everything they need...so why spend?
 
Quote from gnome:

Well, you know Bush was just being "politically expedient".

ALL attempts to reign-in FNM/FRE were met with vehement opposition by the Dems. So, if that's how it's gonna be, "might as well jump on board and say you support it", sort of thing.

I'm not making any excuses for Bush... he deserves NONE. He DESERVES TO BE KICKED IN THE NADS BY EVERY AMERICAN CITIZEN, for starters.

My comment on this is that "The DemoCraps started it"... shouldn't have... once in place, others jumped onboard... bad idea... lots of evil from all sides followed :mad:
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Should I write in "Gnome" for President when I go vote?
 
Quote from nyxtrader:

Should I write in "Gnome" for President when I go vote?
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I wouldn't want that job, but if I had it, I'd raise Hell about finances!!
 
Quote from achilles28:

Goldman might have sold most/all their junk.
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What are you, stupid?

Why do you think GS stock was falling out and the Fed had to allow them and Morgan Stanley to become money market centers. This is on top of Paulson screaming doom & gloom if the bill was not passed.

Who do you think was dumping oil like no tomorrow from $150 to sub $100? As well as other commodities.

There is nothing special about Goldman Sachs from your next standard scumbag Investment bank except that they invested much more into political connections, hence can get away with more. They jumped on the subprime derivative gravy train with as much force as the next guy. Their over-publicized short subprime position is nothing comparing to their long subprime position. Just a publicity stunt to uphold their stock price, temporarily.
 
Quote from gnome:

I'm not a fan of the RepubliClowns myself... and I think Bush will go down in history as the worst president of all time.

However, it's a FACT what I said at Affirmative Action Lending and the DemoCraps role in it...

So, you say, "it's a no-brainer whom to vote for"?
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When will you realize that it is a ONE PARTY system? How many more obvious clues do you need to be sent? Republicans, Democrats, who gives a sh*t, it's all one team when it comes to the real issues.

And Bush is just the front man, he is a puppet and just following orders. His whole administration is KNOWN from their youth to have this type of crazy all out attitude, hence why their administration has been so radical, the perfect admin to carry out what we have seen over the 8 years. You exclaim in joy when he is gone, yet those in power are laughing at ur reaction.



WhooHoo... another vote for Ron Paul!.. :D
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I have my concerns about him, he may be partly psy-ops, to test the public's dissent. That is what politics is all about, a popularity contest used to test which opinion paths to push via media. Also, how to divide the population via right wing and left wing.
He is all for gold backed money, when that's not the answer. Most gold is controlled by a small group of people. Good idea on the surface, but not practical as gold as money is easily exploited, and has been in this country's history on at least two occasions.
This is something he d*mn well knows as a supporter of Austrian economics and a follower of mises.org.
 
Quote from achilles28:

Goldman might have sold most/all their junk.



I think Goldman cleared themselves relatively well,

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goldy traders were on the wrong side 2 years ago..quickly realized the error of their ways and reversed. making back the huge loss and then some


or so I have been told by extremely reputable sources......:D
 
Quote from indahook:

goldy traders were on the wrong side 2 years ago..quickly realized the error of their ways and reversed. making back the huge loss and then some


or so I have been told......:D
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Right, and the recent events with that company compeletely confirms that. Big LOL!
 
Quote from Mecro:

Right, and the recent events with that company compeletely confirms that. Big LOL!
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My source is on the inside. Laugh all you want out loud. Goldy is the street.
 
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