i'm gonna have to fiercely object to your continued characterization of mccain as another bush. he's is most definitely not.
it's hard to believe, but he's actually the chimp without the charm — he's mcworse!
robinsonjacuzzi
· 1 year ago
A Love Parade for Hope! When George Bush first arrived to visit Germany, 150,000 took to the streets of Berlin in protest. This time many more come out to celebrate Barack Obama and unleash a global tsunami of Change. Robinson-Jacuzzi has produced the T-Shirt for this historic occasion - Berlin 24/07 Yes, we can! - robinson-jacuzzi.com
Bostonian_Queer_in_Dallas
· 1 year ago
As Frank Rich would say, "It's the Economic Stupidity, Stupid!"
OlderAndWiser
· 1 year ago
Well, congratulations, taxpayers. Your national debt is increasing by $800 Billion, the projected cost of the so-called "housing bill."
Sadly, it won't help lots of people as they lose their jobs and houses they have lived in for many years. After all, it's not meant to do that...
lynchie
· 1 year ago
The housing bill was crafted by banks for Dodd by Bank of America.
But the news that two Democratic senators got special mortgage deals through a VIP program at Countrywide Financial has given Republicans additional ammunition: the trappings of an ethics scandal to use to try to tarnish the housing legislation and the Democrats who wrote it.
It in effect bails out the banks, moves the debt to FHA and for many of these mortgages which were greater than the value of the house bails out speculators and people who had no business getting the loan in the first place. As I understand the bill, a new mortgage will be granted for the current value, the difference between old mortgage and new is eaten by the taxpayer, the banks get all their dough, the mortgage holder walks away.
Would someone help me out of my mortgage. My home has dropped in value by 20$ or more, no one is rushing to help me because the banks gave loans that were impossible to be paid off. This is just another S&L scandal where Neil Bush loaned a guy $100 million based on 30 acres of desert and a 4 year old cadillac. Guy disappeared, Neil got his money refunded (cost us $2 Trillion) and everyone was a happy camper. Have a bill that truly helps those in need, to add another $1 trillion to the already $15 Trillion that is $15,000,000,000,000, is insane.
A key provision of the housing bill now awaiting action in the Senate -- and widely touted as offering a lifeline to distressed homeowners -- was initially suggested to Congress by lobbyists for major banks facing their own huge losses from the subprime mortgage crisis, according to congressional staff members and bank officials.
Credit Suisse, a large investment bank heavily invested in mortgage-backed securities, proposed allowing hundreds of thousands of homeowners to refinance their mortgages with lower-cost government-insured loans, relieving financial institutions of the troubled debt.
After the bank proposed this to Congress in January, it became known as the "Credit Suisse plan" among congressional staffers and lobbyists. It later formed the basis of housing provisions in both the House and Senate.
Bank of America, which is acquiring Countrywide Financial, the country's largest mortgage lender, followed with a similar and more detailed proposal, principal negotiators on the legislation said.
In approaching congressional aides, the lobbyists suggested that banks take less than full payment for the distressed loans on their books. But the measures would allow financial institutions to get cash out of foreclosed properties that would otherwise sit on their books as dead weight.
Since the new loans would be guaranteed by the Federal Housing Administration (FHA), taxpayers would ultimately pay for defaults. The Congressional Budget Office projected that this could cost $1.7 billon over five years.
this is how it works, read the whole article. Good intentions skewed by politicians on the take.
OlderAndWiser
· 1 year ago
Even with good credit, I couldn't get a home loan from Bank of America (having lived my entire life in the US), but they are the #1 mortgage company (with Wells Fargo) for illegal immigrants, to whom they issue Fed IDs and enable them to purchase homes and obtain credit cards. No wonder BofA worked this bill. And they are only required to submit rental payments and utility bills for that purpose, not proof of good credit as I was required to do. And nobody, nobody, helped me out when I lost my job, couldn't get another at a comparable salary, and was foreclosed on, forcing me to move in with my son (who's always living on the edge since he works in construction).
lynchie
· 1 year ago
These companies love to prey on people. Getting their loans covered by FHA is a reprehensible act. Dodd got a sweetheart mortgage from Countrywide and then bails them out, no connection right? Our politicians do this shit and we sit here and say "more please". Justice is now a glimmer in the past and it is every man and woman for themselves. Problem is where do we turn, where do we get help, sorry to say we have no one on our side. Obama will have to shoulder a huge burden and I hope he appoints people who want to share the load not make out for themselves.
cowboyneok
· 1 year ago
Okay, if Mr. McGoo wants to play it that way and give Bu$h and Republicans credit for the temporary drop in oil prices then he is RESPONSIBLE for the horridous SPIKE in prices. Can't have it both ways...
bluestockton
· 1 year ago
Why should McSame have an economic policy for the country when his personal economic policy is "Send the bill to Cindy's office." And if he doesn't like it said that he's running for Bush's third term, he shouldn't be doing photo-ops with Bushes.
cowboyneok
· 1 year ago
These photos of McCain are just PRICELESS. My fave? I love the photo of McCain riding in the "Bush Family" golf cart behind the sign which reads, "Property of #41 - Hands OFF!" bwah hahaaa!
Campaign commercial:
Stern voice over - "John McCain - Property of 41st President George Bush, 'Hands Off!'" They both roll by giggling and fade to black... election Obama!
jr
· 1 year ago
"John McCain is white. He's the only person that can get us out of this mess"-CBS News
smiling_dog
· 1 year ago
Praising Bush for lowering oil prices is like praising the guy holding your head under the water for pulling you up and saving you from drowning.
All Comments
O/T Cool J-pics....
Obama Western Wall Visit, Old Jerusalem
http://thisweekwithbarackobama.blogspot.com/200...
it's hard to believe, but he's actually the chimp without the charm — he's mcworse!
Sadly, it won't help lots of people as they lose their jobs and houses they have lived in for many years. After all, it's not meant to do that...
http://www.freedomworks.org/newsroom/media_temp...
But the news that two Democratic senators got special mortgage deals through a VIP program at Countrywide Financial has given Republicans additional ammunition: the trappings of an ethics scandal to use to try to tarnish the housing legislation and the Democrats who wrote it.
It in effect bails out the banks, moves the debt to FHA and for many of these mortgages which were greater than the value of the house bails out speculators and people who had no business getting the loan in the first place.
As I understand the bill, a new mortgage will be granted for the current value, the difference between old mortgage and new is eaten by the taxpayer, the banks get all their dough, the mortgage holder walks away.
Would someone help me out of my mortgage. My home has dropped in value by 20$ or more, no one is rushing to help me because the banks gave loans that were impossible to be paid off. This is just another S&L scandal where Neil Bush loaned a guy $100 million based on 30 acres of desert and a 4 year old cadillac. Guy disappeared, Neil got his money refunded (cost us $2 Trillion) and everyone was a happy camper. Have a bill that truly helps those in need, to add another $1 trillion to the already $15 Trillion that is $15,000,000,000,000, is insane.
I linked the wrong article.
A key provision of the housing bill now awaiting action in the Senate -- and widely touted as offering a lifeline to distressed homeowners -- was initially suggested to Congress by lobbyists for major banks facing their own huge losses from the subprime mortgage crisis, according to congressional staff members and bank officials.
Credit Suisse, a large investment bank heavily invested in mortgage-backed securities, proposed allowing hundreds of thousands of homeowners to refinance their mortgages with lower-cost government-insured loans, relieving financial institutions of the troubled debt.
After the bank proposed this to Congress in January, it became known as the "Credit Suisse plan" among congressional staffers and lobbyists. It later formed the basis of housing provisions in both the House and Senate.
Bank of America, which is acquiring Countrywide Financial, the country's largest mortgage lender, followed with a similar and more detailed proposal, principal negotiators on the legislation said.
In approaching congressional aides, the lobbyists suggested that banks take less than full payment for the distressed loans on their books. But the measures would allow financial institutions to get cash out of foreclosed properties that would otherwise sit on their books as dead weight.
Since the new loans would be guaranteed by the Federal Housing Administration (FHA), taxpayers would ultimately pay for defaults. The Congressional Budget Office projected that this could cost $1.7 billon over five years.
this is how it works, read the whole article. Good intentions skewed by politicians on the take.
Campaign commercial:
Stern voice over - "John McCain - Property of 41st President George Bush, 'Hands Off!'" They both roll by giggling and fade to black... election Obama!