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<blockquote data-quote="island1fox" data-source="post: 634736" data-attributes="member: 4816"><p>Blah, BLAH , BLAH,</p><p>Sure there was greed like Mr RAINES THE HEAD OF Fannie --also wall street ----AFTER ---WHAT part of AFTER --do you not understand.</p><p>If you do just a little research you will find out that the Community REinvestment Act of the great Jimmy Carter ----steamrolled into thr ninties when none only but BILL CLINTON had legislation passed that deregulated Fannie and funded Freddie. Also in the late eighties that great group ACORN --sued CITYBANK --using a lawfirm that our great President of today worked for {starting to open you eyes) the lawsuit was that Acorn accused Citybank of racism because they did not have enough minority loans. From there with Fannie AND Freddie with government backed guarantees -----no down payment house purchases without financial checks went through the roof. As loans were given to people that could not afford nor understand ARM's ----Homes were built ---bought with bad loans ---more Houses built --supply and demand ---drove a false "bubble" in home values.</p><p>When gas prices rose the summer of 08 along with ADJUSTABLE RATES INCREASING --THE BUBBLE BROKE.</p><p>Spin it any you like --live in LA LA land --facts are facts ----wall street greed took place after the stage was set by the dopey politicians -</p><p>Believe what you want ----this is making me tired !!!!<img src="/community/styles/default/xenforo/smilies/FeltTip/dissapointed.png" class="smilie" loading="lazy" alt=":dissapointed:" title="Disappointed :dissapointed:" data-shortname=":dissapointed:" /></p><p> </p><p>p.s. I guess you-also believe the "stimulous " has saved and will create jobs?</p><p>I guess you also believe that in the next few years with millions of baby boomers being added to medicare ---the government will lower the cost by 500 billion --the fraud ??? Obama has been in almost a year ---has not identified nor saved one penny in fraud !!! One of two things will happen ----these programs will be bankrupt or --most likely ---not just the "rich"</p><p>all federal tax rates will be well over the 5o% mark.</p></blockquote><p></p>
[QUOTE="island1fox, post: 634736, member: 4816"] Blah, BLAH , BLAH, Sure there was greed like Mr RAINES THE HEAD OF Fannie --also wall street ----AFTER ---WHAT part of AFTER --do you not understand. If you do just a little research you will find out that the Community REinvestment Act of the great Jimmy Carter ----steamrolled into thr ninties when none only but BILL CLINTON had legislation passed that deregulated Fannie and funded Freddie. Also in the late eighties that great group ACORN --sued CITYBANK --using a lawfirm that our great President of today worked for {starting to open you eyes) the lawsuit was that Acorn accused Citybank of racism because they did not have enough minority loans. From there with Fannie AND Freddie with government backed guarantees -----no down payment house purchases without financial checks went through the roof. As loans were given to people that could not afford nor understand ARM's ----Homes were built ---bought with bad loans ---more Houses built --supply and demand ---drove a false "bubble" in home values. When gas prices rose the summer of 08 along with ADJUSTABLE RATES INCREASING --THE BUBBLE BROKE. Spin it any you like --live in LA LA land --facts are facts ----wall street greed took place after the stage was set by the dopey politicians - Believe what you want ----this is making me tired !!!!:dissapointed: p.s. I guess you-also believe the "stimulous " has saved and will create jobs? I guess you also believe that in the next few years with millions of baby boomers being added to medicare ---the government will lower the cost by 500 billion --the fraud ??? Obama has been in almost a year ---has not identified nor saved one penny in fraud !!! One of two things will happen ----these programs will be bankrupt or --most likely ---not just the "rich" all federal tax rates will be well over the 5o% mark. [/QUOTE]
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