Obama's message to voters: Things could be worse

And here is the rest of the story from your link, which you did not include because you are not trying to present a balanced portrayal of what happened, since the information was right there it looks like you are just trying to do a hack job on Clinton.

From your article:

The Bushies more than doubled the percentage of mortgages in the nation that were subprime, at the same time allowing the biggest banks to vastly increase their leverage (which increased significantly their probability of failure when these poor credit risks could not repay after their initial "teaser rates" at 2% interest reset to normal rates after the first 2 years of the loan). Guess what, the biggest banks failed in 2008, and that was Bush administration policy, purely Bush (well Chris Cox at SEC).

The repubs held the power with majorities in the house, senate, and held the WH. Expanding housing was the Bush stimulus plan, along with the tax cuts that went predominately to the rich. And then they blew up the housing market, mortgage market, banking sector that failed due to excess leverage the republicans allowed them to achieve, which then began to back up into other industries like the auto industry, and that created the great recession of 2008-2009.

 

And you are just providing an unbiased, fair and balanced response. Right. :dis:

 

YouTube - Inside Look: Fannie Mae & Freddie Mac


YouTube - Don't Regulate Fannie Mae or Freddy Mac


YouTube - When Bush was sounding the Alarm

This was too easy.

 

I am trying to state the facts in a balanced way. The repubs held the house, the senate and the white house from 2001 to 2006. The subprime mortgage situation expanded dramatically in 2004-2006. Chris Cox at SEC allowed the largest banks in america to triple their leverage from 15:1 to 45:1 starting in 2004, when the percentage of subprime mortgages doubled from 9% of loans in america to 20%. When the subprime adjustable rate mortgages began to reset from the 2% teaser rates after the first two years of the loan, too many people could not pay back their loans and the housing bubble collapsed and the big banks failed. Bush pushed the expansion of housing starting in 2002, including having fannie and freddie back loans to those with "poor credit". In the senate the repubs had 54 votes in 2005, and they passed Chuck Hagels bill out of committee on a party line vote, but repub Bill Frist would not allow a vote on the bill on the senate floor because he knew only 25 repubs had signed a letter backing Hagels bill, while 29 repub senators did not sign the letter. Frist did not have a majority of republican votes for the bill, so it was never brought for a vote. Those are the facts.

Frank and Dodd were in the minority. They didn't have any committee chairmanhships, they had no power to control anything. Those are just the facts.

The right seems to want to just listen to Rush, blame it all on Barney Frank, and give the repubs a pass. I am sorry, I refuse. The repubs had all the power, they were given the reigns of power in the house the senate and the WH, and they blew it. The dems were no help, but the repubs held all the power. The repubs are accountable for what happened. They took a country coming out of a mild recession in 2001 and drove it into a great recession in 2008-2009.

 

Do you have a point? What is the date on those? How do they relate to the housing crisis?

 

He's also an outstanding gun salesman.

 

I meant this part.
Quote from wikipedia:

On Sunday, April 12, 2009, Capt. Richard Phillips was rescued, reportedly in good condition, from his pirate captors.[21][22] The commander of United States Fifth Fleet Vice Admiral William E. Gortney reported the rescue began when Commander Frank Castellano, captain of the Bainbridge, determined that Phillips' life was in imminent danger and ordered the action. President Barack Obama had previously reaffirmed Navy standing orders to take action if it was determined the hostage's life was in immediate danger.[23][24] [24] The Vice Admiral reported that U.S. Navy SEAL snipers, reportedly from SEAL Team Six,[25] on the Bainbridge's fantail opened fire and killed the three pirates remaining in the lifeboat with a simultaneous volley of three shots. The SEALs had arrived Friday afternoon after being parachuted into the water near the Halyburton, a guided missile frigate, which later joined with the Bainbridge.[6] At the time, the Bainbridge had the lifeboat under tow, approximately 25 to 30 yards astern.[26]


Since then the pirates have only gone after us a few more times(pretty much suicidal when you go against our freaking Navy ships). They haven't taken any of our ships.

PS- I like the Russians way of handling it myself.

Russian Authorities: Freed Somali Pirates Likely Dead | AHN

 

Your not comprehending that at all. Completely out of context. You need to read that again and study up on HUD loans.

Bush was talking about "ONE" program out of 25 that would have been a pilot program for low income/poor credit borrowers. He was not talking about standard FHA loans which are the vast majority of HUD loans made. To the contrary, he proposed tightening the limits on standard FHA loans that Clinton had already relaxed in 1999 and Frank so vehemently opposed.

 

I believe you don't understand the use of the word "qualified low income". You are taking it to mean "they have the ability to pay", and in this case I take it to mean "they likely don't have the ability to pay, or they'd have saved the downpayment. Qualified low income means 'they don't make too much, so we won't be giving down payments to rich folk'"

Here is what Bush said:

So, I went looking for the American Dream Downpayment Initiative, I found it, and my interpretation is correct. Basically, "qualified" means "you don't make too much money", it does not mean "you have the ability to pay" as there is no stated minimum income requirement, rather there is a stated MAXIMUM income CAP, you can't make more than 80% of the median income of the local area:

American Dream Downpayment Initiative - Affordable Housing - CPD - HUD

Here's Bush, jugging the housing market again, giving up to $10K to folks as long as they make less than 80% of the median income. This is not Barney Frank, it's president George Bush.

Point 2: Regarding the "one program" to help people with POOR CREDIT, it may have been one out of 25 programs, but the devil is in the details, the question is how much money was allocated to it.