Democrats at fault for Mortgage Meltdown

[kaydee457 13]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

[symbiosis 0]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

[kaydee457 13]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

Typical liberal... Ignorance and a closed mind.....

[symbiosis 0]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

Typical liberal... Ignorance and a closed mind.....

Typical conservative. Authority and propaganda always win out over facts.

[kaydee457 13]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

Typical liberal... Ignorance and a closed mind.....

Typical conservative. Authority and propaganda always win out over facts.

Why not move on? You've had your say and you clearly haven't watched the report, and if you did then you're in denial......

[symbiosis 0]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

Typical liberal... Ignorance and a closed mind.....

Typical conservative. Authority and propaganda always win out over facts.

Why not move on? You've had your say and you clearly haven't watched the report, and if you did then you're in denial......

I'm just trying to see how hard you'll keep on getting the last word.

In any case, the report is wrong. Fannie and Freddie are not at all the cause of the meltdown. That's simply naive. They backed mortgages from other lenders and they were the ones left holding the hot potato when the music stopped.

In short, securities firms sold collateralized debt obligations (CDOs) made up of packaged U.S. mortgages to China and other overseas investors who thought the American housing market was a sure thing. The CDOs were more valuable as securities than the mortgages themselves and so the demand was for more mortgages to package. Since few knew and fewer cared about the underlying reliability of the individual mortgages, lenders were encouraged to give NINAs and NINJAs, sell them quickly off to the securities firms, who packaged them and sold them to investors. Freddie and Fannie simply backed the bad mortgages.

It helps to have a basic understanding of how this all works so you don't fall into the trap of partisan rhethoric.

Edited September 24, 2008 by symbiosis

[kaydee457 13]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

Typical liberal... Ignorance and a closed mind.....

Typical conservative. Authority and propaganda always win out over facts.

Why not move on? You've had your say and you clearly haven't watched the report, and if you did then you're in denial......

I'm just trying to see how hard you'll keep on getting the last word.

In any case, the report is wrong. Fannie and Freddie are not at all the cause of the meltdown. That's simply naive. They backed mortgages from other lenders and they were the ones left holding the hot potato when the music stopped.

In short, securities firms sold collateralized debt obligations (CDOs) made up of packaged U.S. mortgages to China and other overseas investors who thought the American housing market was a sure thing. The CDOs were more valuable as securities than the mortgages themselves and so the demand was for more mortgages to package. Since few knew and fewer cared about the underlying reliability of the individual mortgages, lenders were encouraged to give NINAs and NINJAs, sell them quickly off to the securities firms, who packaged them and sold them to investors. Freddie and Fannie simply backed the bad mortgages.

It helps to have a basic understanding of how this all works so you don't fall into the trap of partisan rhethoric.

Thank you for your input. You have a profound ignorance of the mortgage industry......Fannie and Freddie accepted, and backed the mortgages, and carved out a market for them by doing so.....they were bundled and sold to investors under the guise of being "government backed"......

Edited September 24, 2008 by kaydee457

[symbiosis 0]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

Typical liberal... Ignorance and a closed mind.....

Typical conservative. Authority and propaganda always win out over facts.

Why not move on? You've had your say and you clearly haven't watched the report, and if you did then you're in denial......

I'm just trying to see how hard you'll keep on getting the last word.

In any case, the report is wrong. Fannie and Freddie are not at all the cause of the meltdown. That's simply naive. They backed mortgages from other lenders and they were the ones left holding the hot potato when the music stopped.

In short, securities firms sold collateralized debt obligations (CDOs) made up of packaged U.S. mortgages to China and other overseas investors who thought the American housing market was a sure thing. The CDOs were more valuable as securities than the mortgages themselves and so the demand was for more mortgages to package. Since few knew and fewer cared about the underlying reliability of the individual mortgages, lenders were encouraged to give NINAs and NINJAs, sell them quickly off to the securities firms, who packaged them and sold them to investors. Freddie and Fannie simply backed the bad mortgages.

It helps to have a basic understanding of how this all works so you don't fall into the trap of partisan rhethoric.

Thank you for your input. You have a profound ignorance of the mortgage industry......

Really? You simply have a profound ignorance.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Merrill Lynch & Co. in July sold more than half of its mortgage-linked collateralized debt obligations for about a fifth of their original price, setting a price for those securities at that time.

http://en.wikipedia.org/wiki/Collateralized_debt_obligation

Edited September 24, 2008 by symbiosis

[symbiosis 0]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

Typical liberal... Ignorance and a closed mind.....

Typical conservative. Authority and propaganda always win out over facts.

Why not move on? You've had your say and you clearly haven't watched the report, and if you did then you're in denial......

I'm just trying to see how hard you'll keep on getting the last word.

In any case, the report is wrong. Fannie and Freddie are not at all the cause of the meltdown. That's simply naive. They backed mortgages from other lenders and they were the ones left holding the hot potato when the music stopped.

In short, securities firms sold collateralized debt obligations (CDOs) made up of packaged U.S. mortgages to China and other overseas investors who thought the American housing market was a sure thing. The CDOs were more valuable as securities than the mortgages themselves and so the demand was for more mortgages to package. Since few knew and fewer cared about the underlying reliability of the individual mortgages, lenders were encouraged to give NINAs and NINJAs, sell them quickly off to the securities firms, who packaged them and sold them to investors. Freddie and Fannie simply backed the bad mortgages.

It helps to have a basic understanding of how this all works so you don't fall into the trap of partisan rhethoric.

Thank you for your input. You have a profound ignorance of the mortgage industry......

Really? You simply have a profound ignorance.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Merrill Lynch & Co. in July sold more than half of its mortgage-linked collateralized debt obligations for about a fifth of their original price, setting a price for those securities at that time.

http://en.wikipedia.org/wiki/Collateralized_debt_obligation

Maybe this will help:

[almaty 19]

also, i heard democrats and fault..for global warming./.illegals...war in iraq and that clay aiken is gay

[ginger1981 0]

At this point I don't care who is at fault...let's just put our heads together and figure out how to get ourselves the hell out of this mess.

[nowhereman 1]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Please spare me all the nonsense about FOX news, and their supposed bias.....

Maybe you can just spare us the Faux News.

Typical liberal... Ignorance and a closed mind.....

Kaydee you are one of the most ignorant & close minded people that posts on this forum so you have zero room to accuse anyone else of that. Anyone that believes that the Republicans or Democrats are completely at fault for the current crisis is a moron, plain & simple. This problem is far too serious for left wing or right wing (like you) nut cases to point fingers.

As for Fox news they are absolutely bias... I watch it every day (I work in a military operations center & we broadcast the news all day). I have seen numerous occasions where they bring in a Republican "expert" to say his piece & yet no Democrat is there. They also cover McCain 10X more than Obama. They do however have babes in short skirts (like Megyn Kelly), which is about the only reason I pay attention.

[EstebanTrabajos 7]

and that clay aiken is gay

hahaha!

Damn Dems, you give freedom and this is what you get! Screw Obama, Palin I LOVE YOU!!!

[Minya's wife 25]

The article doesn't mention McCain, even though he was the co-sponsor of the bill mentioned to reign in Fannie and Freddie....

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Of course McCain sponsored a bill to try to 'avert' the 'mess' only so he can avoid having to explain why his campaign manager was on Freddie Mac's payroll until last month.

http://www.huffingtonpost.com/2008/09/23/f...c_n_128770.html

-P

[Peikko 1,575]

How come being a co-sponsor is now a good thing? Last I read on these boards, being a co-sponsor wasn't worth ####!