Democrat Leaders Played to Lose

[PocketProtector]

Pelosi is the lowest form of excrement to ever reside in Congress. And that's saying something. Actually to think about it, the entire Dem. top 10 or so, are so far in the gutter it's almost beyond comprehension. I really can't think of one Dem. "leader" who commands one ounce of respect. Political hacks all.

[Morel42]

Originally Posted by adymond

Couple things I have to address with this. I think he was bitching about the left and how they positioned this bill and how this is an example of how everything is being used to further their power grab. I don't think he was saying the right never does it. I also don't think he was saying none of the blame should fall on the right (sorry if I am wrong).

I think though that to say this has only happened in the last 8 years shows you are guilty of the same sort of blindness that you are accusing others of suffering. This can be traced back to the Community Reinvestment Act (CRA) of the 70's (I think it was 1972 if I remember). Since then the lending institutions have been pressured to accept riskier and riskier loans and then selling them to Fannie and Freddy. This was in an effort to boost minority and low income home ownership. Lenders were able to take on more and more risk and then off load that risk to a GSE (Government Sponsored Entity). The GSEs were able to socialize the risk while privatizing the profits. Those loans the GSE bought would then be resold to many other investors. Now most of these loans were "bad" loans, or in other words loans to people who had no means of paying back those loans. Previously people had to work and save enough to afford a home. If they had too low of an income they would have had to save a sizable amount for down payment and closing costs.

Now I don't know all of the voting around the CRA and the GSE regulation. I know that both sides have used the voting around these issues for political purposes, but the trend is that this is more of a liberal push for easier loans for minorities and low income people and a conservative trend of deregulation. The idea that more people need to own homes is good, but we should not make it so that anyone can get a loan regardless of their ability to repay it (personal responsibility). Deregulation is a great free market idea, but we must closely regulate any entity that puts taxpayer money at risk (GSEs), since they are not a product of free markets they do not deserve the same deregulations. Both sides are at fault.

Also when you look back to 2001 Bush was pusing for legislation to reign in the two GSEs. Several of the members of the oversight committee are on record saying there was no problem and that we needed to make it even easier for them to offer loans to low income families. McCain pushed for legislation in 2005 to change the regulation. Ron Paul has been calling for an overhaul. The only consistant opposition to this legislation has been from the liberal establishment. For the last two years it was a Democratic congress. They could have changed the "failed policies of the Bush administration" at any time since they have had the majority. When Clinton was in office the Republicans had the majority and they could have made changes. Neither did and both are to blame.

Politicians do not want to fix any problems. They want to minimize the damage so that each election cycle they can show what they have done and what still needs to be done. If the Democrats had solved the housing problem back in the 70's there would have been many election cycles they could not have capitalized on the class war between low income people who can't afford a home and those wealthy bastards. If the Republicans had solved it they would not have been able to talk about the need to deregulate the financial institutions. If immigration is solved it takes away an issue. If energy is solved it takes away an issue. Every politician is playing us for idiots and we are just taking it.

You're correct (as much as I could find out) Democrats view poor families as a voting block, and maybe some out of blind good intentions, so they wanted to let poorer people buy homes.. But (like most gov't) they didn't understand that it wasn't sustainable.

More low income people buying homes = higher prices
+ higher interest rates
+ Shady loan details (Balloon Payments? Someone needs to be strung up for that idea)
+ Idiots who don't read or comprehend the 43 pages that they are signing.
= One big shit sandwhich.

And for the record.. If McCain would have ran 10 years ago. I might have voted for him, well without Palin on the ticket of course.. But I digress. :P
But man, I don't know what happened to him... He's not the same person at all..

[Morel42]

Originally Posted by PocketProtector

Pelosi is the lowest form of excrement to ever reside in Congress. And that's saying something. Actually to think about it, the entire Dem. top 10 or so, are so far in the gutter it's almost beyond comprehension. I really can't think of one Dem. "leader" who commands one ounce of respect. Political hacks all.

I donno about leaders.. But Kucinich is a good man.. Liberal to the extreme, but his beliefs actually come from him caring about people, regardless of the ideas are insane or not) I can respect someone who's wrong for the right reasons.. Just not vote for um

Btw.. His wife.. omg..