Obama at Economy Recovery Presidental News Conference 03-24-09

[geofiles]

I don’t claim to have most of the answers about fixing our economy, but I would like to talk to Obama about it. However, Obama would need to first visit a library and read two or more books about government economics. Then we could almost talk on a level intellect.

[truefaith00]

Well, here we go. Three quarters of a million jobs were lost in March after president moron told us that the economy is not that bad.

[chuckcoster]

What CRAP! TELEPROMPTER PRESIDENT is now reading on a flat screen TV in front of him so it looks like he is looking at you! But lets talk policy - where is his anger about FannieMae and FreddieMac paying out million dollar bonuses this year - they are responsile for all of the financial ness. When is he going after Franklin Raines, Sullivan, Gurelic, Dodd & Barney Frank- fraud & criminal conspiracy. Dodd & Countrywide/AIG. Frank for his friends bank bailouts.. COVER UP!

[revolutionist313]

The reason Barry doesn't mention them is because of his status as a recipient.

[zzsharka]

If you are going to adress the whole world & you are offered a telepromter like everone else as if you wouldn't take it ! Would have to be totaly arrogant & stupid to think you are not human and couldn't possibly make a mistake or forget something. As for the bonuses, he has already expressed his anger many times before which you would have seen if you had watched the news & there's no point repeat negative stuff in detail like a broken record if you want to move foward and get things done !.

[chuckcoster]

Go after Democrat Cirminals-Dodd, Frank, Raines, Gurelic, Sullivan and Rohm Emmanual who were at Mae & Mac & set up the fraud system, OBOMBA (the Afgan Warrior) doesn't say word 1 about million dollar bonuses given & soon to be given at MaeMac. His anger is Clinton Acting. NONE of the people getting the bonus at AIG were involved in creating the problem - they closed down the division. He sends his ACORN/MOVE ON busloads of thugs to AIG homes to threaten & get good picture - Liar Fraud

[laughingbuddhabelly]

Sounds like the solution to the debt problem will be fought with More spending and More DEBT!!! I like it!! It seems to have been working just fine so far..so stay the course!!

[triscuitnyc]

CRA WAS THE BEGINNING OF THE DOWNFALL... woo hoo BUBBA CLINTONNN!!

[jrebstock]

Triscuitnyc....the CRA had nothing to do with this financial crisis...most banks embraced sub prime lending (foolishly) thinking sub prime lending would lead to profits....banks like AIG & citibanks were not forced to make sub prime loans by fannie mae or the CRA or barney frank (thats a FOX news myth)....not all banks got into the sub prime lending practice....which is why not all banks want the BAILOUT funds...only the dumb banks want the bailout money..

[triscuitnyc]

over 450 banks are getting bailed out..

[revolutionist313]

Where did you here that it was a fox news myth? CNN or MSNBC??

[jrebstock]

i did not hear the 'MYTH' theory from CNN or MSNBC.....the CRA blame that republicans throw around is BASELESS and holds NO WATER....see my posts BELOW....as i've already explained why they are BASELESS.

[revolutionist313]

Speaking of your post below, the reason this crisis came to a head 6 months ago is because it wasn't until 2006 when the Dems gained more control in the House and Senate and were able to manipulate the banks to lend with a guarantee that the government would bail them out so long as they got a piece of the pie as well. BTW, you didn't explain, you just made a claim.

[jrebstock]

revolutionist313...the 'guarantee' the banks thought they had...was the HOUSE (collateral)..banks figured that even if or when the loan defaulted... bank would still be able to re-sell the foreclosed HOME....that theory fell apart when 50% of houses in certain neighborhoods became BOARDED UP (Foreclosed)....nobody wants to buy a house in a neighborhood with half the homes foreclosed.....so most of the inept banks were stuck with WORTHLESS un-sell-able homes.

[revolutionist313]

First, the guarantee was a promise made my legislators who can make or break laws in favor of those whom favor them.

Secondly, my first answer is precisely why the houses became boarded up in the first place and people wouldn't buy because they couldn't; at that point, the economy fell apart and money became scarce, or better yet, depreciated and more so as Obama keeps signing these spending bills or even talks for that matter.

[jrebstock]

money became scarce because many banks were losing millions (on sub prime loans they shouldnt have made)and suddenly banks realized they couldnt even make LOANS to businesses...when the credit market tightened that contributed to the financial crisis.....to blame people for taking a sub prime loan that was offered to them, when all they had to do was walk thru a bank's door is MYOPIC....most banks embraced the sub prime loans....and were NOT forced to make them under duress of the CRA.

[revolutionist313]

The housing market is not the sole contribution of this economic debacle; it is merely a component.

Also, it is fact, that legislators pressured banks because many of these people have already come forward and admitted to it.

The banks were all for it because they coupled negotiations with politicians to ensure their safety net when the time came.

Any person who doesn't read the fine print are the only ones who are MYOPIC.

[zzsharka]

revolutionist313 If it was the democrats idea which u say then Bush could have easily vetoed that policy just like he did with $ ! to the auto industry which dems were against, also kept quantunomo Bay open etc & for those who blame dems bef Bush, Bush had 8 yrs to improve the economy but made it much worse so if we use u'r logic then if the economy isn't 10 times worse aft 8 yrs then obama would have done a better job than republicans in the last 8 yrs & u've been righting him off already lol

[revolutionist313]

Stop using Bush as a crutch!!! Obama is the President now and things are only getting worse.

The proof is in the pudding and numbers don't lie.

I'm certainly no fan of our last President but when Bush was in office, the free market was still free and ever since Obama was elected we've been paying for it.

[jrebstock]

triscuitnyc...the CRA has been around since 1977...dont u think this crisis would have occured sooner than 6 months ago....if the CRA was really SAND BAGGING banks for the past 30 yrs???

[triscuitnyc]

I love you too!! :P

[grindlefish]

President Oprompter at his best. It's funny with this big screen, he couldn't swivel his head. He had to look straight on and look bug eyed.

[triscuitnyc]

I love our teleprompter president

[jrebstock]

trisuitnyc....so what if obama used a teleprompter for his opening remarks ?.....he answered 15 questions with in-depth detailed answers an all topics from health care to the economy to stem cell research....if think GWB could have performed half as well as OBAMA did last night....either u were not paying attention the past 8 yrs....OR you have an AGENDA.

[triscuitnyc]

answered questions with no SOLUTIONS just said he's going to work on it.. hahaha! it's ok y'all are brainwashed....I didn't like GWB and I don't like OBAMA...

[jrebstock]

tristuitnyc.....either u didnt listen to the press conference alst night...or u have sh*t for brains....the SOLUTIONS obama detailed in his answers are in the stimulus bill he signed....with funds going to reforming our health care system, energy research that will contribute to economic growth...and funds for improved infrastructure that will contribute to economic growth.....& saving money on the wasteful department of defense bidding process.....does that RING A BELL???

[triscuitnyc]

You're right, I have SHIT FOR BRAINS... and you have no life...enjoy your day!

[revolutionist313]

If all the details are in the stimulus bill then why not implement the transparency he promised and let those of us whom are truly concerned look at it ourselves?

Because then he has to account for all the money and actually ensure that it isn't being spent on shady corporations that keep politicians like Barak in their pockets.

[karessong]

by the end of my first term.. did he say that..? he said that..NEWS FLASH>> no no dumbo.. oops there i said it again.. i'll call the disney people and apologize..that probably sounded mean , butt.

[chernmax]

Obama = bla, bla, bla, bla I won and I'm going to spend your money!!!

[StillSexy007]

Sounds like what George Bush did. And you blame him. LOL. Seriously! Seriously?

[chernmax]

Educate yourself better on who pushed and protected subprime mortages that bankrupted this country in the first place. Hint: Pelosi, Franks, Dodd, Reeves etc. Clinton in 1998 signed the subprime bill that forced banks to lend to noloads. The Democrats & some Republicans in 2005 blocked a bill demanding oversight so there was nothing for Bush to sign. Obama is gifted at fixing the blame verse the problem. So far he's out spent every president in history combined in under 100 days. CHANGE!!!

[revolutionist313]

Spot on, my friend...Cheers!!!

[deanmichaelmusic]

To EVERYTHING this guy says.... ask "why?" and "how?"

Oh? What signs of progress? He doesn't back anything up!

I have never heard anyone so eloquent say so little....

[StillSexy007]

What about Bush II??

[triscuitnyc]

Bush never spoke eloquently... haha!

[frankv789]

Is that a chink in his speech delivery armor?