Where Are They Now?

[maxsawdust]

The ONLY true one in the list.

Is you being a confirmed liar.

[saunterelle]

harpman, I would much rather be liberal than be a liar.

Max, did I lie about something here?

[maxsawdust]

Yes Ma'am you did.

You keep crying that the banks have been "Nationalized".

When all that will happen is NON-Voting SHARES of STOCK will be PURCHASED by the US Government.

That's like saying it's the National Bank of ME at least I get votes with my shares.

[saunterelle]

Really? I think these reports would beg to differ: www.usnews.com/blogs/capital-commerce/2008/3/21/bank-bailout-is-a-path-to-nationalization.html

www.thestandard.com/news/2008/10/14/let-s-face-it-we-re-socialists-bank-bailouts-proceed

[maxsawdust]

Nope again you're stretching the truth.

Here's THE HEADLINE TO YOUR "Report"

Bank Bailout Is a Path to Nationalization

Do you understand the words IS A PATH

And you DO also understand this is an OPINION piece and not a REPORT by ANY stretch of the imagination.

Don't you?

[jgaffney]

Saunterelle, no response on my post regarding Henry Cisneros?

[The Big Dog]

Oct 22, 2008 11:56:44 GMT -5 jgaffney said:

Saunterelle, no response on my post regarding Henry Cisneros?

Another inconvenient truth, perhaps?

[saunterelle]

Oct 21, 2008 18:52:44 GMT -5 @maxsawdust said:

Nope again you're stretching the truth.

Here's THE HEADLINE TO YOUR "Report"

Bank Bailout Is a Path to Nationalization

Do you understand the words IS A PATH

And you DO also understand this is an OPINION piece and not a REPORT by ANY stretch of the imagination.

Don't you?

Regarding the bank bailout the Fox News guy asks McCain "Isn't that socialism?"

[jgaffney]

Oct 22, 2008 11:56:44 GMT -5 jgaffney said:

Saunterelle, no response on my post regarding Henry Cisneros?

[saunterelle]

Oct 21, 2008 13:33:20 GMT -5 jgaffney said:

None other than the NY Times has been running a series of articles on the subprime mortgage meltdown. The current article, carried in Sunday's PeeDee, explores the influences that ex-Housing Secretary Henry Cisneros had:

As the Clinton administration’s top housing official in the mid-1990s, Mr. Cisneros loosened mortgage restrictions so first-time buyers could qualify for loans they could never get before.

Then, capitalizing on a housing expansion he helped unleash, he joined the boards of a major builder, KB Home, and the largest mortgage lender in the nation, Countrywide Financial — two companies that rode the housing boom, drawing criticism along the way for abusive business practices.

And Mr. Cisneros became a developer himself. The Lago Vista development here in his hometown once stood as a testament to his life’s work.

Joining with KB, he built 428 homes for low-income buyers in what was a neglected, industrial neighborhood. He often made the trip from downtown to ask residents if they were happy.

“People bought here because of Cisneros,” says Celia Morales, a Lago Vista resident. “There was a feeling of, ‘He’s got our back.’ ”

But Mr. Cisneros rarely comes around anymore. Lago Vista, like many communities born in the housing boom, is now under stress. Scores of homes have been foreclosed, including one in five over the last six years on the community’s longest street, Sunbend Falls, according to property records.

<<snip>>

Under Mr. Cisneros, there were small and big changes at HUD, an agency that greased the mortgage wheel for first-time buyers by insuring billions of dollars in loans. Families no longer had to prove they had five years of stable income; three years sufficed.

And in another change championed by the mortgage industry, lenders were allowed to hire their own appraisers rather than rely on a government-selected panel. This saved borrowers money but opened the door for inflated appraisals. (A later HUD inquiry uncovered appraisal fraud that imperiled the federal mortgage insurance fund.)

“Henry did everything he could for home builders while he was at HUD,” says Janet Ahmad, president of Homeowners for Better Building, an advocacy group in San Antonio, who has known Mr. Cisneros since he was a city councilor. “That laid the groundwork for where we are now.”

Mr. Cisneros, who says he has no recollection that appraisal rules were relaxed when he ran HUD, disputes that notion. “I look back at HUD and feel my hands were clean,” he says.

Lenders applauded two more changes HUD made on Mr. Cisneros’s watch: they no longer had to interview most government-insured borrowers face to face or maintain physical branch offices. The industry changed, too. Lenders sprang up to serve those whose poor credit history made them ineligible for lower-interest “prime” loans. Countrywide, which Angelo R. Mozilo co-founded in 1969, set up a subprime unit in 1996.

Fact-check that, Saunterelle.

But what does this have to do with Obama? The fact that Cisneros was out trying to get the Hispanic community to vote for Obama is a pretty weak connection. Was he paid by the Obama campaign? Did he ever officially work for Obama?

[jgaffney]

Oct 22, 2008 12:19:23 GMT -5 saunterelle said:

But what does this have to do with Obama? The fact that Cisneros was out trying to get the Hispanic community to vote for Obama is a pretty weak connection. Was he paid by the Obama campaign? Did he ever officially work for Obama?

The title of this thread is "Where Are They Now?" The purpose of the thread is to discuss what has happened to what are felt to be the key players in the subprime mortgage meltdown, all of whom have Democrat alliances.

It's the Law of Unintended Consequences in spades. What started out as a well-meaning effort to bring more people into the ranks of home ownership was gamed by the major league players and resulted in the economic crisis we now see.

[saunterelle]

The title of this thread is "Where Are They Now?" The purpose of the thread is to discuss what has happened to what are felt to be the key players in the subprime mortgage meltdown, all of whom have Democrat alliances.

Okay, well, next time try to refrain from LYING about where they are now.