Comments on: Blame the Democrats for Fannie Mae and Freddy Mac http://axisofright.com/2008/09/30/blame-the-democrats-for-fannie-mae-and-freddy-mac/ Conservative Politics, Religion, Culture, and Anything Else Fri, 19 Mar 2010 21:02:36 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: More Democrat Ties to Fannie Mae and Freddy Mac | Axis of Righthttp://axisofright.com/2008/09/30/blame-the-democrats-for-fannie-mae-and-freddy-mac/comment-page-1/#comment-8546 More Democrat Ties to Fannie Mae and Freddy Mac | Axis of Right Fri, 07 Nov 2008 19:25:26 +0000 http://axisofright.com/?p=3121#comment-8546 [...] up on suspicious activity that was brought to their attention. Emmanuel joins the ranks of other Democrats responsible for the current mess that we are in.  It is comforting to know that the people who made the mess are now the ones charged with fixing [...]<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('8546','More Democrat Ties to Fannie Mae and Freddy Mac | Axis of Right'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('8546','More Democrat Ties to Fannie Mae and Freddy Mac | Axis of Right','[...] up on suspicious activity that was brought to their attention. Emmanuel joins the ranks of other Democrats responsible for the current mess that we are in.  It is comforting to know that the people who made the mess are now the ones charged with fixing [...]'); return false;">Quote</a></div> [...] up on suspicious activity that was brought to their attention. Emmanuel joins the ranks of other Democrats responsible for the current mess that we are in.  It is comforting to know that the people who made the mess are now the ones charged with fixing [...]
Reply – Quote
]]> By: Democrats Aim for New New Deal, McCain Aims for Growth | Axis of Righthttp://axisofright.com/2008/09/30/blame-the-democrats-for-fannie-mae-and-freddy-mac/comment-page-1/#comment-6665 Democrats Aim for New New Deal, McCain Aims for Growth | Axis of Right Tue, 14 Oct 2008 20:30:09 +0000 http://axisofright.com/?p=3121#comment-6665 [...] Even scarier than all of these proposals is who will be put in charge of them;  Barney Frank, Chris Dodd, Nancy Pelosi, Harry Reid, Barack Obama, SWMNBN, Chuck Schumer, and the other Democrats that had a hand in causing this mess to begin with.  [...]<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('6665','Democrats Aim for New New Deal, McCain Aims for Growth | Axis of Right'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('6665','Democrats Aim for New New Deal, McCain Aims for Growth | Axis of Right','[...] Even scarier than all of these proposals is who will be put in charge of them;  Barney Frank, Chris Dodd, Nancy Pelosi, Harry Reid, Barack Obama, SWMNBN, Chuck Schumer, and the other Democrats that had a hand in causing this mess to begin with.  [...]'); return false;">Quote</a></div> [...] Even scarier than all of these proposals is who will be put in charge of them;  Barney Frank, Chris Dodd, Nancy Pelosi, Harry Reid, Barack Obama, SWMNBN, Chuck Schumer, and the other Democrats that had a hand in causing this mess to begin with.  [...]
Reply – Quote
]]> By: Ryanhttp://axisofright.com/2008/09/30/blame-the-democrats-for-fannie-mae-and-freddy-mac/comment-page-1/#comment-4958 Ryan Tue, 30 Sep 2008 14:38:57 +0000 http://axisofright.com/?p=3121#comment-4958 I think the root of this crisis goes even further back than 1975. I think the philosophical birth of lending to high-risk groups started with the Civil Rights Act of 1968, which was based on the Kerner Commission's report indicating that discrimination in housing needed to end. It was a very noble and morally right law.However, even if discrimination in housing ends, how do those who historically have not gotten homes get them if they can't afford them?Ah HA!One has to pass laws lowering the standards for groups historically unable to qualify. For the next four decades, this concept and the laws which emerged as a result basically extended the principles of affirmative action to home ownership. The pattern of the Clinton Administration's housing policies and the Democrat's stonewalling of reforms of Fannie and Freddie fit right into this larger paradigm. If it's fundamentally a civil rights issue, then the Dems must be on board without the semblance of a critical eye -- which is exactly what happened.Yet, in the last decade, it's not just minorities or single women who got these kinds of loans, but nearly anyone who asked for a home loan, regardless of their ability to pay. In some cases, people moved into a $220,000 home they could actually afford, but the bank qualified them for $400,000! How many took the bait and went all the way? I've heard another anecdote of a single man who made $36,000 a year who got qualified for and bought a $700,000 home in North Jersey. Guess what? He can't afford his mortgage once the adjustable rate re-adjusted.It's like that time at the party when you're pretty well buzzed when three hot chicks show up smiling and giddy egging you to do shots with them. Some people would say "No thanks, the room's already spinning," but how many people would go for it if the opportunity arose? The last few months has been like the toilet-hugging morning-after for many Americans and the lenders who couldn't muster the willpower to say "when." I think a lot of Americans see it that way too -- no straight-up bailout, rather make sure "drunky" didn't mess up their own carpet.Yet, Congress wants us to clean up everyone else's carpet. They disgust me. It's lazy, irresponsible law-making to have the all people flip the bill for individual's problems. Maybe these bums in Congress need a new job. How the hell are we losing to these people?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('4958','Ryan'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('4958','Ryan','I think the root of this crisis goes even further back than 1975. I think the philosophical birth of lending to high-risk groups started with the Civil Rights Act of 1968, which was based on the Kerner Commission\'s report indicating that discrimination in housing needed to end. It was a very noble and morally right law. \r\n\r\nHowever, even if discrimination in housing ends, how do those who historically have not gotten homes get them if they can\'t afford them? \r\n\r\nAh HA! \r\n\r\nOne has to pass laws lowering the standards for groups historically unable to qualify. For the next four decades, this concept and the laws which emerged as a result basically extended the principles of affirmative action to home ownership. The pattern of the Clinton Administration\'s housing policies and the Democrat\'s stonewalling of reforms of Fannie and Freddie fit right into this larger paradigm. If it\'s fundamentally a civil rights issue, then the Dems must be on board without the semblance of a critical eye -- which is exactly what happened. \r\n\r\nYet, in the last decade, it\'s not just minorities or single women who got these kinds of loans, but nearly anyone who asked for a home loan, regardless of their ability to pay. In some cases, people moved into a $220,000 home they could actually afford, but the bank qualified them for $400,000! How many took the bait and went all the way? I\'ve heard another anecdote of a single man who made $36,000 a year who got qualified for and bought a $700,000 home in North Jersey. Guess what? He can\'t afford his mortgage once the adjustable rate re-adjusted.\r\n\r\nIt\'s like that time at the party when you\'re pretty well buzzed when three hot chicks show up smiling and giddy egging you to do shots with them. Some people would say \"No thanks, the room\'s already spinning,\" but how many people would go for it if the opportunity arose? The last few months has been like the toilet-hugging morning-after for many Americans and the lenders who couldn\'t muster the willpower to say \"when.\" I think a lot of Americans see it that way too -- no straight-up bailout, rather make sure \"drunky\" didn\'t mess up their own carpet.\r\n\r\nYet, Congress wants us to clean up everyone else\'s carpet. They disgust me. It\'s lazy, irresponsible law-making to have the all people flip the bill for individual\'s problems. Maybe these bums in Congress need a new job. How the hell are we losing to these people?'); return false;">Quote</a></div> I think the root of this crisis goes even further back than 1975. I think the philosophical birth of lending to high-risk groups started with the Civil Rights Act of 1968, which was based on the Kerner Commission’s report indicating that discrimination in housing needed to end. It was a very noble and morally right law.

However, even if discrimination in housing ends, how do those who historically have not gotten homes get them if they can’t afford them?

Ah HA!

One has to pass laws lowering the standards for groups historically unable to qualify. For the next four decades, this concept and the laws which emerged as a result basically extended the principles of affirmative action to home ownership. The pattern of the Clinton Administration’s housing policies and the Democrat’s stonewalling of reforms of Fannie and Freddie fit right into this larger paradigm. If it’s fundamentally a civil rights issue, then the Dems must be on board without the semblance of a critical eye — which is exactly what happened.

Yet, in the last decade, it’s not just minorities or single women who got these kinds of loans, but nearly anyone who asked for a home loan, regardless of their ability to pay. In some cases, people moved into a $220,000 home they could actually afford, but the bank qualified them for $400,000! How many took the bait and went all the way? I’ve heard another anecdote of a single man who made $36,000 a year who got qualified for and bought a $700,000 home in North Jersey. Guess what? He can’t afford his mortgage once the adjustable rate re-adjusted.

It’s like that time at the party when you’re pretty well buzzed when three hot chicks show up smiling and giddy egging you to do shots with them. Some people would say “No thanks, the room’s already spinning,” but how many people would go for it if the opportunity arose? The last few months has been like the toilet-hugging morning-after for many Americans and the lenders who couldn’t muster the willpower to say “when.” I think a lot of Americans see it that way too — no straight-up bailout, rather make sure “drunky” didn’t mess up their own carpet.

Yet, Congress wants us to clean up everyone else’s carpet. They disgust me. It’s lazy, irresponsible law-making to have the all people flip the bill for individual’s problems. Maybe these bums in Congress need a new job. How the hell are we losing to these people?

Reply – Quote
]]>