Posted on 09/28/2008 8:45:33 PM PDT by profit_guy
Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
YouTube has now suspended comments on the video. The Obamabots were getting eaten alive, so of course those Goebbel’s like propagandists at YouTube had to squelch the debate. SPIT.
YouTube has now suspended comments on the video. The Obamabots were getting eaten alive, so of course those Goebbel’s like propagandists at YouTube had to squelch the debate. SPIT.
And gee, all my comments ripping the donks and YouTube’s bias have mysteriously disappeared from the view all comments page. Shock there. NOT.
Goebbels wouldn’t be proud. He’s be ENVIOUS.
Hmm, my comments are showing up again. Maybe it’s just a caching issue?
OK, comments are working/allowed again. Don’t know what’s going on there...
Pinging to return to tomarrah!!! Thanks, tubebender!!!
They were only doing what Bush told them to do back in 2002. (President Calls for Expanding Opportunities to Home Ownership)
And it starts with setting a goal. And so by the year 2010, we must increase minority home owners by at least 5.5 million. In order to close the homeownership gap, we've got to set a big goal for America, and focus our attention and resources on that goal.
Three-quarters of white America owns their homes. Less than 50 percent of African Americans are part of the homeownership in America. And less than 50 percent of the Hispanics who live here in this country own their home. And that has got to change for the good of the country. It just does.
One of the barriers to homeownership is the inability to make a downpayment. And if one of the goals is to increase homeownership, it makes sense to help people pay that downpayment. We believe that the amount of money in our budget, fully approved by Congress, will help 40,000 families every year realize the dream of owning a home. Part of the success of Park Place is that the city of Atlanta already does this. And we want to make the plan more robust. We want to make it more full all across America.
That's why I've challenged the industry leaders all across the country to get after it for this goal, to stay focused, to make sure that we achieve a more secure America, by achieving the goal of 5.5 million new minority home owners. I call it America's home ownership challenge.
And let me talk about some of the progress which we have made to date, as an example for others to follow. First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion. I want to thank Leland (Brendsel) and Franklin (Raines) for that commitment. It's a commitment that conforms to their charters, as well, and also conforms to their hearts.
This means they will purchase more loans made by banks after Americans, Hispanics and other minorities, which will encourage homeownership. Freddie Mac will launch 25 initiatives to eliminate homeownership barriers. Under one of these, consumers with poor credit will be able to get a mortgage with an interest rate that automatically goes down after a period of consistent payments.
Fannie Mae will establish 100 partnerships with faith-based organizations that will provide home buyer education and help increase homeownership for their congregations. I love the partnership.
The Enterprise Foundation and the local initiative support corporation will increase efforts to build and rehabilitate more homes in inner cities at affordable prices by working with local community development corporations.
The Neighborhood Reinvestment Corporation (read: ACORN & La Raza) will dramatically expand financial and home buyer education efforts to 380,000 minority families. The Neighborhood Housing Services of America (read: ACORN & La Raza) will raise $750 million to promote homeownership initiatives in many communities. We're beginning to use the Internet better, so that realtors all across the country will be able to call up programs all designed to help minority home buyers understand what's available, what's possible, and what to avoid. The National Realtors Association will create a central data bank of affordable housing programs, which will be made available to agents, real estate agents, to help people.
That’s a no brainer.
B=U=M=P everyone’s accusing me
“How can you tell when a democRAT is lying.”
Whenever, their lips move, they write something, do double dipping voting or vote after they are dead.
From:
The Financial Mess: How We Got Here
By Abraham H. Miller
“As you can imagine, wonderful things happen when the government strong arms corporations as to how they should spend their money and, better yet, how they should assess the qualifications of home buyers. So the country’s biggest buyers of mortgages were pressured into lowering the qualifications of applicants, in order to increase the percentage of poor that got mortgages. By 2006, 30% of all mortgages went to people who in any other circumstances wouldn’t qualify.”
Thanks for the article, but this is just so much more Bush administration propaganda.
It makes no mention about Bush's involvement in this mess vis-a-vis, Partnership for Prosperity Agreement (with Mexico) or the New Alliance Task Force.
FWIW, the government didn't make the banks do anything that they didn't already want to do themselves. That's why they backed Bush in 2000 and that's why Bush met with Vicente Fox to discuss the terms of the P4P agreement 3 weeks after he was inaugurated and why the agreement was signed 7 months later on September 6, 2001.
The USA Patriot Act of 2001 is what gave banks the authority to accept Mexican Matricula Consular cards as ID to open accounts, etc. Congress wrote it and Bush signed it.
From the article:
After all, the Bush administration in 2003 and Senator Phil Gramm even earlier, in 1999, had been working to change the system.
Can you explain what Bush was doing in 2003 to change the system?
As part of the mandate contained in the P4P agreement, the New Alliance Task Force was created in 2003. It was a working group (that included the FDIC, banks, banking regulators, etc.) put together to bring banks, their goods and services and Mexican illegal aliens together.
What else was Bush doing in 2003 to change the system?
Censorship ??
If it was taken off, it’s on there now. Maybe it was just getting too many hits. It has gotten nearly 300,000 views so far. Rush has a copy of it at the top of his home page.
Everyone needs to see this video.
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