Home Ownership and President Bush

http://www.RentFree4Life.com

I think the Republican Party and their cronies on Wall Street could certainly use some "faith-based programs" right now... but the truth is that the 30-year experiment with Reaganesque pro-business, anti-government, pro-deregulation economics is coming thankfully to a very abrupt end.

Category:

News & Politics

Tags:

• interest
• free
• loans
• foreclosure
• predatory
• lenders
• Bush
• Reagan
• Karl
• Rove
• Fannie
• Mae
• Freddie
• Mac
• voodoo
• economics
• home
• owners
• lending
• institutions
• bailout

[theakshay]

Man....I wish we could erase his term from American History.

[dilbertgeg]

if you look up Bush raines subprime, you get vids blaming ONLY Democrats and Obama, praising Bush

Bush ownership brings you here

"I introduced two of the leaders today. Fannie Mae and Freddie Mac. They will increase their commitment to minority markets by more than 440 BILLION dollars. I want to thank Leland and Franklin Raines for that commitment."

Everyone knows that Bush did not give a shit about low income people. This was pandering to low income advocacy to enrich Wall Street.

[petey2u]

So basically low income people can't be financially responsible is what your comments are implying. I would NEVER want to be a landlord and have to deal with someone who can't pay their rent. There is no easy way to evict them. The problem is that folks who can't pay their rent get subsidized by a landlord who can't easily evict them or ever recoup their losses. Let folks rent from the gov. and when they can't pay (rather than the banks and landlords) let the gov. pay their rent with your taxes

[letgeorge]

Yeah right. People on welfare, that's my and your tax dollars, could count, welfare, food stamps, free school lunches etc as income. What a joke. Bush talked and acted just like the idiot he is. He lied about WMD to get us into Iraq where he shipped billions and billions of our tax dollars and billions of our tax dollars are still going there. What an idiot he is and I voted for the Bushes four tiimes. What an idiot I was.

[walleyrt69]

I was a hardcore Republican and a Bush man 2 times.I was also a Carpenter who is now out of work for maybe EVER.If ANYONE in the Republican party thinks that Bush is inocent in this discusting Housing Depression.SEND THEM THIS! I remember it well,and Said to myself after this speach,"WHAT THE FUCK ARE YOU DOING,NOT EVERYONE CAN OWN A HOME!'---And here I sit-outta work!Both Parties are Guilty and the Government (FUCKED UP)!!!!!

[kingbacon]

This and the billionaire cuts are 100% to blame for the great recession. The country is finished,it will never recover until there are structural changes.

[badnewswade]

Gad-dang SOCILIST! Thank god the Tea Party was there to stop this iniquitous redistribution of money!

[madashelldude]

@YosemiteMan Partisan propaganda doesn't help. wiki "Phil Gramm"..U R correct about the 1994 CHANGES to the CRA which caused mergers and acquisitions in interstate banking. but the CRA worked just fine for decades and it was started in 1977. Under Clinton, while a lot of the problems created by the Reagan admin during the S&L nothing really bad happened except for not cleaning up Reagan's mess. Besides: cons voted for the Gingrich revolution ie. massive deregulation of the banking sector.

[madashelldude]

@YosemiteMan Nonsense. Google Catherine Austin Fitts. this HUD racket started under Ronald Reagan's deregulating of the housing market and mortgage lending with the subprime loans. That's when derivatives were invented. google: "Fannie's Perilous Pursuit of Subprime Loans" or "Greenspan February 23, 2004": "many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate"

user/madashelldude#p/a/82FFE3C­A0795EDE7/1/Asuv4Q90U74

[YosemiteMan]

This guy breaks down the CRA of 1994. Search Youtube for Community Reinvestment Act, and play the video by arkadyka.

[YosemiteMan]

This is just a piece of a bigger puzzle. The CRA (Community Reinvestment Act) of 1994 is where this train really got momentum. "The National Homeownership Strategy began in 1994 when Clinton directed HUD Secretary Henry Cisneros to come up with a plan, and Cisneros convened what HUD called a "historic meeting" of private and public housing-industry organizations in August 1994." ref: Business Week

[LivingWithUncleRay]

This is painful to watch!!!!