Obama looking at $850 billion jolt to the economy

[Pinocchio Liberal 268]

We are all soon to be part time government employees. Falls to knees in praise of Obama. I wonder if hes gonna donate his senate seat money to the cause.

Why do you hate Government employees?!

Why do you hate the Democratic party?!

Where is the word hate?

To a liberal:

disagree = hate

get the memo?

Thanks for reminding me.

This thread should be called: Obama uses economic situation to push socialism! I see it as the begining of the end for the democrat party.

You do understand that by the time the current President leaves office he will have doubled the national debt? It's the same President that's presided over the socialization of our banks and credit industry, and is about to bypass congress to socialize the auto industry.

Fine if you want to criticize Obama for being a socialist, but you need to include Bush in there as well.

Barney Frank, Fannie and Freddie......Barney Frank, Fannie and Freddie......Barney Frank, Fannie and Freddie.......Barney Frank, Fannie and Freddie....Barney Frank, Fannie and Freddie........Barney Frank, Fannie and Freddie.......Barney Frank, Fannie and Freddie........ Get it?

[mawilson 2,133]

The point is that Republican President Bush is responsible for the largest socialization program that the U.S. has ever known. EVER. You can argue that the Dems were complicit if you want, but the buck stops at the President's desk, and he couldn't sign it fast enough.

And then there's the Car Czar

[Pinocchio Liberal 268]

Barney Frank, Fannie and Freddie......Barney Frank, Fannie and Freddie......Barney Frank, Fannie and Freddie.......Barney Frank, Fannie and Freddie....Barney Frank, Fannie and Freddie........Barney Frank, Fannie and Freddie.......Barney Frank, Fannie and Freddie........ Get it?

Ummm...things that gay congressmen do in the privacy of the own homes?

Dunno. I guess I don't get it.

The point is that Republican President Bush is responsible for the largest socialization program that the U.S. has ever known. EVER. You can argue that the Dems were complicit if you want, but the buck stops at the President's desk, and he couldn't sign it fast enough.

You obviously have your Obama blinders on.

[Pinocchio Liberal 268]

You obviously have your Obama blinders on.

I see. So being critical of Bush automatically implies that I'm an Obama groupie. Somebody has blinders on, but it aint me. And you completely dodged the point that Bush has done more to socialize private industry than ANY other President. Again, call the Democrats complicit if you will (and I would agree...I do not support the bailout program at all) but Bush couldn't sign it fast enough.

And by the way, you can go back through my posts to see that I have been VERY clear that Obama gets no free rides from me. Blinders my asz.

Read about what the dems have done for the past two years with "affordable housing" GEEEEEZ! Fcukin get to readin! Ol barney was in bed literally with some gay boy over at fanny or freddie most likely fannie!

[HAL 9000 96]

You obviously have your Obama blinders on.

I see. So being critical of Bush automatically implies that I'm an Obama groupie. Somebody has blinders on, but it aint me. And you completely dodged the point that Bush has done more to socialize private industry than ANY other President. Again, call the Democrats complicit if you will (and I would agree...I do not support the bailout program at all) but Bush couldn't sign it fast enough.

And by the way, you can go back through my posts to see that I have been VERY clear that Obama gets no free rides from me. Blinders my asz.

At this point in the game, sore-loser-itis theory states that isn't enough. You must publicly renounce his administration in order to court favor. Even though his administration hasn't even served one day in office.

[Pinocchio Liberal 268]

Read about what the dems have done for the past two years with "affordable housing" GEEEEEZ! Fcukin get to readin! Ol barney was in bed literally with some gay boy over at fanny or freddie most likely fannie!

And yet you don't seem to be unhappy at all about President Bush spending more money to socialize private industry than any other President in the history of the union. I'm just curious is all. The Republicans have beat the "let the market decide" drum for decades. Why all of a sudden has the President decided that the free market no longer works, and that socialism is the answer?

Oh and yeah, Barney Frank is gay. He probably has ####### sex with men. It's time to graduate from 7th grade now, mmkay?

My freind what do you think caused the financial mess? It boils down to the affordable housing laws past by the respectable butt plug senator. Maybe all that ####### has been goin to your head. You can have my turn.

[spookyturtle 9,466]

[barney Frank, Fannie and Freddie......Barney Frank, Fannie and Freddie......Barney Frank, Fannie and Freddie.......Barney Frank, Fannie and Freddie....Barney Frank, Fannie and Freddie........Barney Frank, Fannie and Freddie.......Barney Frank, Fannie and Freddie........ Get it?

Barney Frank likes Freddies Fanny.

[peejay 327]

Read about what the dems have done for the past two years with "affordable housing" GEEEEEZ! Fcukin get to readin! Ol barney was in bed literally with some gay boy over at fanny or freddie most likely fannie!

And yet you don't seem to be unhappy at all about President Bush spending more money to socialize private industry than any other President in the history of the union. I'm just curious is all. The Republicans have beat the "let the market decide" drum for decades. Why all of a sudden has the President decided that the free market no longer works, and that socialism is the answer?

Kind of reminds me of when GWB's daddy left the "humanitarian" mess in Somalia for Slick Willy to deal with. I'm not quite convinced that GWB has had an awakening and a conversion so much as leaving a parting Christmas gift for Obama to deal with. Kind of a head start on what probably was going to happen anyway. It looks like GWB sees the writing on the wall.

[Pinocchio Liberal 268]

[barney Frank, Fannie and Freddie......Barney Frank, Fannie and Freddie......Barney Frank, Fannie and Freddie.......Barney Frank, Fannie and Freddie....Barney Frank, Fannie and Freddie........Barney Frank, Fannie and Freddie.......Barney Frank, Fannie and Freddie........ Get it?

Barney Frank likes Freddies Fanny.

And Mox likes Barney's fannie!

[rebeccajo 14]

Read about what the dems have done for the past two years with "affordable housing" GEEEEEZ! Fcukin get to readin! Ol barney was in bed literally with some gay boy over at fanny or freddie most likely fannie!

And yet you don't seem to be unhappy at all about President Bush spending more money to socialize private industry than any other President in the history of the union. I'm just curious is all. The Republicans have beat the "let the market decide" drum for decades. Why all of a sudden has the President decided that the free market no longer works, and that socialism is the answer?

Oh and yeah, Barney Frank is gay. He probably has ####### sex with men. It's time to graduate from 7th grade now, mmkay?

My freind what do you think caused the financial mess? It boils down to the affordable housing laws past by the respectable butt plug senator. Maybe all that ####### has been goin to your head. You can have my turn.

It wasn't the 'affordable housing laws' (whatever that means) that were passed that caused the problem.

It was an unregulated secondary investment system which floated justcloseenough in normal operating practices of its regulated kin that caused the financial mess. And the leeches that spawned themselves out of that system which bent those new laws to a ridiculous proportion.

[Pinocchio Liberal 268]

Washington, DC - The U.S. House of Representatives today passed H.R. 2895, the National Affordable Housing Trust Fund Act of 2007 by a vote of 264 to 148. The National Affordable Housing Trust Fund will be the largest expansion in federal housing programs in decades, with a goal of producing, rehabilitating and preserving 1.5 million housing units over the next 10 years. The bill as will initially allocate between $800 million and $1 billion annually directly to states and local communities, without increasing government spending or the federal deficit.

“The National Affordable Housing Trust Fund addresses the affordable housing crisis as it affects every level of society. Right now, housing costs are outstripping wages for more households than ever before, and working is simply no longer a guarantee of being able to afford housing” said Rep. Maxine Waters, Chairwoman of the Financial Services Subcommittee on Housing and Community Opportunity. “It has been seventeen years since the federal government last enacted a major affordable housing production program, and I am pleased that this legislation will tackle the full range of housing crises, providing relief to overburdened renters and homeowners while targeting funds where the need is greatest.”

“The growing shortage of affordable housing is one of the most serious social and economic problems facing our country. Given our severely constrained fiscal realities, we are today doing the best we can to address this – creating a low income housing trust fund that will be paid for in ways that do not draw from federal tax revenues,” said Rep. Barney Frank, Chairman of the House Committee on Financial Services.

http://www.house.gov/apps/list/press/finan...ss1010072.shtml

This shite spawned the filthy mess your talkin about!

[Pinocchio Liberal 268]

This is from 2006!

GERSH: You're going to have jurisdiction over many industries in the financial services sector: insurance, banking, housing. What's your top priority?

FRANK: Affordable housing is the single biggest one. We have a terrible housing crisis in this country and I think we now understand that housing is not simply a social good, but it's an economic practice (ph). The biggest difference people will see when we take over from the Republicans is we will reverse their policy of basically letting any affordable housing stock dwindle and not building any new stock. A related issue there is the question of predatory lending. We now have data from the Home Mortgage Disclosure Act that my former colleague Joe Kennedy worked so hard to enact. And now it's pretty clear. If you are African- American or Hispanic, you have less chance of getting a mortgage. And if you get one, you have a high chance of paying more even with other factors being equal for some reason. I think that has got to be a very high priority.

In other words if you cant afford it give it to them anyway. BOOM! massive loans with no collateral or equity. Option arms with no reporting of income or citizenship! BOOM BIG FRICKEN MESS! Then comes Mr. Change! By the time this is over your dollar is gonna be worth a dime. Then comes, you are now dependant on the govament do as I say! Welcome!

http://www.pbs.org/nbr/site/onair/transcripts/061130b/

Edited December 19, 2008 by ={Rogue}=

[mawilson 2,133]

The Car Czar will fix everything!

[Pinocchio Liberal 268]

The Car Czar will fix everything!

A Fricken PINTO

[rebeccajo 14]

This is from 2006!

GERSH: You're going to have jurisdiction over many industries in the financial services sector: insurance, banking, housing. What's your top priority?

FRANK: Affordable housing is the single biggest one. We have a terrible housing crisis in this country and I think we now understand that housing is not simply a social good, but it's an economic practice (ph). The biggest difference people will see when we take over from the Republicans is we will reverse their policy of basically letting any affordable housing stock dwindle and not building any new stock. A related issue there is the question of predatory lending. We now have data from the Home Mortgage Disclosure Act that my former colleague Joe Kennedy worked so hard to enact. And now it's pretty clear. If you are African- American or Hispanic, you have less chance of getting a mortgage. And if you get one, you have a high chance of paying more even with other factors being equal for some reason. I think that has got to be a very high priority.

In other words if you cant afford it give it to them anyway. BOOM! massive loans with no collateral or equity. Option arms with no reporting of income or citizenship! BOOM BIG FRICKEN MESS! Then comes Mr. Change! By the time this is over your dollar is gonna be worth a dime. Then comes, you are now dependant on the govament do as I say! Welcome!

http://www.pbs.org/nbr/site/onair/transcripts/061130b/

Marc, comprehend the totality of what Frank said and not just the bits you want to read into it.

Frank is talking about combatting the predatory lenders which grew out of the unregulated mirror industry!

The Affordable Housing Trust hasn't squat to do with the financial crisis. Read up about it in case you are confused.

http://community-wealth.org/blog/index.php...-gains-support/

The National Affordable Housing Trust Fund Act of 2007 (HR 2985), authored by House Financial Services Chair Barney Frank and formerly introduced toward the end of June, aims to construct, rehabilitate, and preserve 1,500,000 units of housing over the next 10 years. A likely source of funding is the proposed GSE Affordable Housing Fund (H.R. 1427), which would create a dedicated stream of funding, estimated at $1 billion a year, from an allocation of five percent of Fannie Mae and Freddie Mac profits to support affordable housing development nationwide. If approved, the national housing trust moneys could be accessed by state and local housing trust funds that provide at least a 50% match of federal funds. At least 75 percent of the funds expended must provide housing for families at 30 percent of area median income or below.