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techstepgenr8tion
cleveland audio assassin
Joined: Feb 07, 2005
Age: 29
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Location: That's for me to know and for you to find out.
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 Posted: Fri Oct 10, 2008 5:44 pm Post subject: Obama might be sinking hard...and soon. |
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Bill Bennett interview with Stanley Kurtz
I heard this interview on Bill Bennett's morning show and there's no mistaking it - the evidence here is damning. I don't think the media can suppress this story much longer; it will leak, it will blow up, it will gain more and more corroboration, and far more than likely when the American people 'get' it by the time the presidential elections arrive.
I posted information on the Community Reinvestment Act of 1977 a while back and people had brought up the question - how would it have taken that long to all of a sudden surface now? As Kurtz explains it was much less the law itself being enacted and far more what ACORN was able to extrapolate from it by the late 80's and early 90's - intimidating banks, using Saul Alinsky tactics to harass the banks and bank managers until they caved in, and then using those same tactics as well as the CRA1977 to pressure Fannie Mae and Freddie Mac to start taking the mortgages which the banks (who caved to the pressure) had indicated would not accept these. While its true that many of the banks involved in the sub-prime crisis were not directly solicited by ACORN - once they got to Fannie and Freddie, the clearing houses for mortgages in the U.S., it was changed from the top down.
Stanley says it better than I can though. Yes, its possible that this story could be covered and come out too late to have enough effect on the elections to sink Obama's campaign but at this point its gaining too much speed to be held down. I think this just goes to show that the DNC made an even bigger mistake with Barrack than McCain made with Palin, and my guess is if the DNC knew this would blow up two months before the election they would have avoided him like the plague. Right now, politically speaking, Obama has an albatross around his neck and its only a matter of time before the tidal wave of pop culture, media, and higher education support he has just won't be enough.
Though I'll admit, I could be wrong; this may be what 51% of the electorate want in a President but for the lack of pro-socialism dialog as I hear (aside from vagueries and 'intelligencia' propaganda) its doubtful. |
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Orwell
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| Posted: Fri Oct 10, 2008 5:47 pm Post subject: |
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More of this Bill Ayers crap? No one's taking that nonsense seriously. Only far right-wingers who already hated Obama and were desperate for a reason why would care about this stuff, so it's not hurting him much at all.
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techstepgenr8tion
cleveland audio assassin
Joined: Feb 07, 2005
Age: 29
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Location: That's for me to know and for you to find out.
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| Posted: Fri Oct 10, 2008 5:56 pm Post subject: |
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| Orwell wrote: | | More of this Bill Ayers crap? No one's taking that nonsense seriously. Only far right-wingers who already hated Obama and were desperate for a reason why would care about this stuff, so it's not hurting him much at all. |
All I can say is listen to the interview, start to finish, and debate it afterward. Far-right-wingers, hatchet men, Karl Rove conspiracy; cynicism just won't he able to bury this one. |
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skafather84
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| Posted: Fri Oct 10, 2008 6:06 pm Post subject: |
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hahahahaha. they're trying to make the entire economy problem obama's fault. that's hilariously absurd.
you really believe that?
i'm not a fan of obama, but please...desperation is so unattractive.
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techstepgenr8tion
cleveland audio assassin
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Age: 29
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Location: That's for me to know and for you to find out.
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| Posted: Fri Oct 10, 2008 6:10 pm Post subject: |
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| I don't think facts and reality have an agenda of their own. It is what it is, people can try painting it whatever color they want. |
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philosopherBoi
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| Posted: Fri Oct 10, 2008 6:12 pm Post subject: |
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I will believe this when god turns Palin into an Angel with hot pink lipstick made with tiny rose quartz crystal to make it shine, because this just sounds like typical washington politics at work to me. If your going to post something political pertaining to the election post something positive about the candidate you like because I am so tired of seeing all the negative crap.
Last edited by philosopherBoi on Fri Oct 10, 2008 6:15 pm; edited 1 time in total |
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monty
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| Posted: Fri Oct 10, 2008 6:14 pm Post subject: |
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| skafather84 wrote: | hahahahaha. they're trying to make the entire economy problem obama's fault. that's hilariously absurd.
you really believe that?
...desperation is so unattractive. |
Mega dittos to that. Iceland has had a melt-down, and it is pulling down lots of things across Europe. Unlike America, Iceland didn't have poor people, Negroes, Acorn, and the Community Reinvestment Act - but like the US, they did have lots of clever bankers who were deregulated and allowed to run amok.
Ann Coulter summarized this theory best in trying to explain why the economy fell apart: "A less qualified minority took your mortgage." That is the worst kind of racial scapegoating.
Last edited by monty on Fri Oct 10, 2008 6:24 pm; edited 1 time in total |
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techstepgenr8tion
cleveland audio assassin
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Location: That's for me to know and for you to find out.
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| Posted: Fri Oct 10, 2008 6:21 pm Post subject: |
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| philosopherBoi wrote: | | If your going to post something political pertaining to the election post something positive about the candidate you like because I am so tired of seeing all the negative crap. |
Positive and negative are really neither here nor there. All of it needs to be discussed because its not a feely matter, its a matter of whether or not someone is fit to run the most powerful country in the world. If something is enough of an issue, keeping it rosy just won't represent reality faithfully enough.
edit: mind you also I get no particular joy out of posting this, in fact it scares the hell out of me that this kind of thing is going on; I really wish it wasn't true. |
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monty
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| Posted: Fri Oct 10, 2008 6:36 pm Post subject: |
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| techstepgenr8tion wrote: | | philosopherBoi wrote: | | If your going to post something political pertaining to the election post something positive about the candidate you like because I am so tired of seeing all the negative crap. |
Positive and negative are really neither here nor there. All of it needs to be discussed because its not a feely matter, its a matter of whether or not someone is fit to run the most powerful country in the world. If something is enough of an issue, keeping it rosy just won't represent reality faithfully enough. |
True, but only if the charges have substance. Moderate Republicans are getting turned off by the desperate mud-slinging coming out of the McCain campaign - and there no real evidence that this Ayers/Acorn theory is anything more than a smear campaign based on weak associations and innuendo.
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From George Will:
In the closing days of his 10-year quest for the presidency, McCain finds it galling that Barack Obama is winning the first serious campaign he has ever run against a Republican. Before Tuesday night's uneventful event, gall was fueling what might be the McCain-Palin campaign's closing argument. It is less that Obama has bad ideas than that Obama is a bad person.
This, McCain and his female Sancho Panza say, is demonstrated by bad associations Obama had in Chicago, such as with William Ayers, the unrepentant terrorist. But the McCain-Palin charges have come just as the Obama campaign is benefiting from a mass mailing it is not paying for. Many millions of American households are gingerly opening envelopes containing reports of the third-quarter losses in their 401(k) and other retirement accounts -- telling each household its portion of the nearly $2 trillion that Americans' accounts have recently shed. In this context, the McCain-Palin campaign's attempt to get Americans to focus on Obama's Chicago associations seems surreal -- or, as a British politician once said about criticism he was receiving, "like being savaged by a dead sheep." |
| Quote: | | David Brooks: “Palin is smart, politically skilled, courageous and likable. Her convention and debate performances were impressive. But no American politician plays the class-warfare card as constantly as Palin. Nobody so relentlessly divides the world between the ‘normal Joe Sixpack American’ and the coastal elite. She is another step in the Republican change of personality. Once conservatives admired Churchill and Lincoln above all — men from wildly different backgrounds who prepared for leadership through constant reading, historical understanding and sophisticated thinking. Now those attributes bow down before the common touch.” |
From the Republican former governor of Michigan:
| Quote: | "He is not the McCain I endorsed," said Milliken, reached at his Traverse City home Thursday. "He keeps saying, 'Who is Barack Obama?' I would ask the question, 'Who is John McCain?' because his campaign has become rather disappointing to me.
"I'm disappointed in the tenor and the personal attacks on the part of the McCain campaign, when he ought to be talking about the issues."
Milliken, a lifelong Republican, is among some past leaders from the party's moderate wing voicing reservations and, in some cases, opposition to McCain's candidacy.
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Now the Republican rallies seem to be descending to hate-fests, where the true believers shout profanities at the media that are covering the events; when Obama's name is mentioned, there are shouts of "terrorist!", "kill him!", and "bomb obama!" and McCain and Palin hear this but don't stop and impose a minimum standard of decency. McCain is senile, and he has lost his honor and dignity. |
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techstepgenr8tion
cleveland audio assassin
Joined: Feb 07, 2005
Age: 29
Posts: 5670
Location: That's for me to know and for you to find out.
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| Posted: Fri Oct 10, 2008 6:37 pm Post subject: |
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| monty wrote: |
Mega dittos to that. Iceland has had a melt-down, and it is pulling down lots of things across Europe. Unlike America, Iceland didn't have poor people, Negroes, Acorn, and the Community Reinvestment Act - but like the US, they did have lots of clever bankers who were deregulated and allowed to run amok.
Ann Coulter summarized this theory best in trying to explain why the economy fell apart: "A less qualified minority took your mortgage." That is the worst kind of racial scapegoating. |
The problem with Iceland as well as the rest of the global banking crisis - this whole problem came from America, it came from the banks and the liquidity problem being world wide as all the banks trade with each other, have been leveraging with debt instruments to insane ratios for years. The world should be furious because they have us to blame for the whole problem, mostly that we let certain elements of a particular party get away with so much. No, it doesn't hang it all on Obama but it does cite ACORN as the source and there's no way to sugarcoat that his involvement with them, as with Ayers, had everything to do with his own beliefs.
On racial scapegoating, its not that at all. If you give something to anyone they will run with it, after the door was opened; if its opened for one minority group its opened for everyone. ACORN and its congressional allies pretty much pried apart all of the regulations that were in place to keep something like this from happening. Nothing against race at all, it just shows that this sort of blend between capitalism and socialism is every bit as if not more dangerous than the quasi-government status that Fannie Mae and Freddie Mac enjoyed. |
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Fnord
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| Posted: Fri Oct 10, 2008 6:39 pm Post subject: |
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There are more significant - and more subtle - factors working against Sen. Obama in this election. I have money riding on his defeat.
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monty
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| Posted: Fri Oct 10, 2008 6:44 pm Post subject: |
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| Quote: | | The problem with Iceland as well as the rest of the global banking crisis - this whole problem came from America, it came from the banks and the liquidity problem being world wide as all the banks trade with each other, have been leveraging with debt instruments to insane ratios for years. |
I disagree. The insane leverage has been increasing steadily, and it eventually reached a breaking point. America was not the cause of the insanity. Japan went through a similar cycle in the late 80s/early 90s. The US led the way, but the UK was right behind us and they a saw similar housing/asset bubble formation, and theirs is bursting too.
Check out Hudson City Bank in New Jersey - their profits are up this year!! They decided that they would keep all mortgages they made for the life of the loan, and they exercised due diligence in making those loans. The Community Reinvestment Act didn't cripple them - they were still able to say "No" to a black-skinned person who wanted to buy a $500,000 house when their annual income was only $25,000.
| Quote: | "Nothing has changed in the way we underwrite loans or do business, it's absolutely the same," said Hermance. "So in other words, we still look at every application and underwrite it one at a time.
"We have 80,000 mortgages at this point," he said. "And as of June 30 we had 328 that are on nonaccrual, which comes out to about .25 percent of our portfolio."
http://abcnews.go.com/Business/SmartHome/story?id=5949997&page=1
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Last edited by monty on Fri Oct 10, 2008 6:53 pm; edited 2 times in total |
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Hector
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| Posted: Fri Oct 10, 2008 6:51 pm Post subject: |
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| If Ayers is all the Republicans can come up with now, Obama will be President. |
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techstepgenr8tion
cleveland audio assassin
Joined: Feb 07, 2005
Age: 29
Posts: 5670
Location: That's for me to know and for you to find out.
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| Posted: Fri Oct 10, 2008 7:09 pm Post subject: |
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| Hector wrote: | | If Ayers is all the Republicans can come up with now, Obama will be President. |
Ayers is only one piece, ACORN is what it all comes down to. |
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techstepgenr8tion
cleveland audio assassin
Joined: Feb 07, 2005
Age: 29
Posts: 5670
Location: That's for me to know and for you to find out.
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| Posted: Fri Oct 10, 2008 7:14 pm Post subject: |
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| monty wrote: |
I disagree. The insane leverage has been increasing steadily, and it eventually reached a breaking point. America was not the cause of the insanity. Japan went through a similar cycle in the late 80s/early 90s. The US led the way, but the UK was right behind us and they a saw similar housing/asset bubble formation, and theirs is bursting too.
Check out Hudson City Bank in New Jersey - their profits are up this year!! They decided that they would keep all mortgages they made for the life of the loan, and they exercised due diligence in making those loans. The Community Reinvestment Act didn't cripple them - they were still able to say "No" to a black-skinned person who wanted to buy a $500,000 house when their annual income was only $25,000. |
Doesn't a large extent of this have to do with who bought the so-called 'AAA' derivative instruments and who didn't? Most of the banks that didn't fail in the U.S. because they didn't buy. What has been happening around the rest of the world is something more of a ripple effect and Iceland has had a fragile situation in terms of import and export. I'll agree that Iceland didn't have ACORN but they didn't need it either; the livelihood of the U.S. economy is that badly interrelated to the rest of the world where they can quite easily pay dearly for our mistakes. |
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