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Jimmy Carter, Bill Clinton, Janet Reno to blame for mortgage mess
BIZPACReview.com ^ | 10/21/2011 | John R. Smith

Posted on 10/24/2011 7:57:42 AM PDT by SmileRight

Historians know that they can never claim wars start with a clash of armies. They know that the root causes of war start long before. In the same way that the seeds of war germinate well in advance of battle action, so too did the causes of this country’s mortgage meltdown, housing collapse, and credit crisis.

Champions of Big-Brother-Government want you to blame everyone else except government intrusion for the economic plagues that currently assail us. But there’s no getting around the truth. In the 1990s and 2000s, activist leftist groups like ACORN, AFL-CIO, and NEA conspired with liberal politicians to push private financial institutions into creating financial products enabling unqualified individuals to buy homes they couldn’t afford. Now, those same leftists not only deny involvement in the havoc they caused, some are in the streets screaming shrilly that “Wall Street” caused the whole mess.

The root cause of the housing disaster occurred after...

(Excerpt) Read more at bizpacreview.com ...


TOPICS: Business/Economy; Government
KEYWORDS: acorn; carter; clinton; corruption; cra; creditbubble; democratcorruption; democrats; liberalfascism; occupywallstreet; reno
This is the second in a series of articles John R. Smith is writing about the origins of the mortgage meltdown and the resulting OWS movement.
1 posted on 10/24/2011 7:57:55 AM PDT by SmileRight
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To: SmileRight

And these THREE STOOGES can be tagged for much more.


2 posted on 10/24/2011 8:04:40 AM PDT by EagleUSA
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To: SmileRight

The problem is how do we enable all 350 million people in this country to know and understand this.


3 posted on 10/24/2011 8:05:23 AM PDT by Excellence ( CTRL-GALT-DELETE)
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To: SmileRight
People are way too stupid (in general) to understand that messes this big take 10-20 YEARS to form.

The housing mess was a direct result of Democrap policies created by Carter, but implemented with full force by Clinton.

And even then the banks were smart enough not to follow the stupid rules UNTIL Andrew Cuomo (under Clinton) lit the fuse of this time bomb by SUING one big bank (for “redlining”) and WINNING a multi-billion dollar verdict.

All the other banks saw the writing on the wall and did what they were told, ESPECIALLY after Fanny Mae and Freddie Mac started buying these toxic notes thereby guaranteeing them.

4 posted on 10/24/2011 8:11:17 AM PDT by Mr. K (We need a TEA Party march on GOP headquarters ~!!)
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To: SmileRight

This is the Clinton Legacy.

But I have a question: Where in the heck was George Bush while this was going on? Most of the damage occurred during his watch. We had 8 years for him to figure this out and do something about it.

Well, he didn’t.

So, IMHO, we need to add George Bush to that list.


5 posted on 10/24/2011 8:16:42 AM PDT by InterceptPoint
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To: Excellence

Start sending this article around in email.


6 posted on 10/24/2011 8:17:40 AM PDT by blondee123 (Obama-The Wanna-be Dictator!)
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To: Excellence

How hard is it to understand, really?


7 posted on 10/24/2011 8:18:22 AM PDT by T.O.K.
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To: Excellence

How hard is it to understand, really?


8 posted on 10/24/2011 8:18:33 AM PDT by T.O.K.
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To: SmileRight

This may not be new news to anyone, but certainly, when you see the account of events listed in order, it hits you that our government is truly the dumb bully that screwed things up for those of us trying to play by fair rules. I wonder how many liberal Democrats care to refute any of these facts listed? Better yet, how about defending them . . . I’d like to hear that!


9 posted on 10/24/2011 8:20:10 AM PDT by T.O.K.
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To: SmileRight
And Obama, through ACORN, was right in the middle of it from the get-go. As a community organizer, lwyer, Illinois Rep, and US Senator.

OBAMA HELPED CAUSE THE ECONOMIC CRISIS

10 posted on 10/24/2011 8:24:11 AM PDT by Jeff Head (Liberty is not free. Never has been, never will be. (www.dragonsfuryseries.com))
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To: T.O.K.
They can't defend it. The DNC did it with a will...and too many RINOs went along with them. In the end, I believe they purposefully used it all to blame on Bush and make him the scapegoat, which with a complicit MSM they were successful in doing.

The people responsible for it were successful in blaming others for it and then getting themselves put in charge of "fixing" it, using a radical maxist ideolog (Obama) to help them. Predictably...and IMHO, it is no accident on their part, it's what they want...it has gotten far worse as they bring about their "fundamnetal change" for America. Which is to say to tear dwon the free market and replace it with a command economy more akin to a marxist model.

THE MAN WHO DESPISES AMERICA

11 posted on 10/24/2011 8:30:11 AM PDT by Jeff Head (Liberty is not free. Never has been, never will be. (www.dragonsfuryseries.com))
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To: SmileRight

They are leaving out Barney Frank.


12 posted on 10/24/2011 8:41:04 AM PDT by Venturer
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To: SmileRight

Who’s to blame when you spend more than you ought?

Find a scapegoat and lynch him, or them.

Who’s to blame when you get fat eating McDonald’s french fries and big macs?

Find a scapegoat and lynch him, them.

“What is wrong with the world? Me”
G.K. Chesterton

So, are people SHEEPLE, or do they have individual responsibility?

All your woes are always your fault. Unfortunately.


13 posted on 10/24/2011 8:44:23 AM PDT by If You Want It Fixed - Fix It
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To: SmileRight

Read this book:
http://www.amazon.com/gp/product/0805091203


14 posted on 10/24/2011 9:05:48 AM PDT by US Navy Vet (Go Packers! Go Rockies! Go Boston Bruins! See, I'm "Diverse"!)
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To: SmileRight

You can blame anyone for wrongdoings but if you don’t hold him/her responsible and if there are no consequences for their actions, it is all a moot point.

Typically of our touchy-feely, PC society — all talk, no substance.


15 posted on 10/24/2011 9:08:06 AM PDT by 353FMG (Liberalism is Satan's handiwork.)
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FR Begs For Life But Is Slowly Starved


Click The Starving Forum Skeleton To Donate

Save FR

16 posted on 10/24/2011 9:16:42 AM PDT by DJ MacWoW (America! The wolves are here! What will you do?)
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To: SmileRight

Any analysis of the mortgage crisis that does not put Barney Frank at or near the top of the list of culprits is flawed in its foundation.


17 posted on 10/24/2011 9:21:37 AM PDT by Laserman
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To: Venturer

On top of that these anti american socialist democrats are using the same tactics to try and force the AGW/IPCC CO2 scam down our throats. To stop these socialist democratic frauds from destroying this country in the name of social justice we must politically destroy these vermin who have infested our government and boot their idealogical commie rear ends all the way to cuba in 2012.


18 posted on 10/24/2011 9:22:11 AM PDT by spawn44
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To: SmileRight

bttt


19 posted on 10/24/2011 9:25:07 AM PDT by Matchett-PI (Obamageddon, Barackalypse Now! Bam is "Debt Man Walking" in 2012 - Rush Limbaugh)
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To: SmileRight

Which Senator got the biggest kickback from Fanny/Mac? Hussein.


20 posted on 10/24/2011 9:50:01 AM PDT by bgill (There, happy now?)
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To: SmileRight
And the same old crap of getting it wrong, the mortgages that blew apart were made at the tail in of the mess, home price got so high, no one could pay the payments, in walks all the sub-prime mortgages, interest only, and second notes, etc., the standard mortgages made back during the early years were never the problem. http://useconomy.about.com/od/glossary/g/subprime_mortg.htm
21 posted on 10/24/2011 9:55:20 AM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow demorats.)
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To: InterceptPoint
Foreclosure numbers tracked normal during these years, look it up.
22 posted on 10/24/2011 9:58:34 AM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow demorats.)
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To: Mr. K
The housing mess was a direct result of Democrap policies created by Carter, but implemented with full force by Clinton.

And sadly, supported/trumpetted by George W. Bush.

23 posted on 10/24/2011 9:59:14 AM PDT by Go Gordon
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To: org.whodat
Foreclosure numbers tracked normal during these years, look it up.

I'm sure they did. But you need to account for the fact that the loans were basically bad and the banks knew that. These loans had artificially low interest rates for a few years and then BANG you're dead. When those low interest rate periods ended that when it hit the fan. But the poison was in the system for a long time before that.

24 posted on 10/24/2011 10:33:32 AM PDT by InterceptPoint
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To: SmileRight

Actually, professional politicians of all stripes are to blame.

Term limit the lot of them.


25 posted on 10/24/2011 12:12:47 PM PDT by hattend (If I wanted you dead, you'd be dead. - Cameron Connor)
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To: InterceptPoint
LOL, wrong, if you look at it you will find, the lenders were shocked at how well they performed. And this fact made them take greater risk. That and the ignorant concept that everyone in the country could buy a 250000 house at 7% interest, the mortgage market went to hell with the flipping and the interest only and year notes, making loans to people because that were breathing.
26 posted on 10/24/2011 12:25:39 PM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow demorats.)
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