Barack Obama

[TracyCoxx]

Originally Posted by SweetCharmer

y'know i would be really surprised if barack doesn't win coz with all the financial trouble the wons who are coming out on top of it all are the democrats and i think this is a very good time for obama to do that last sprint to presidency

I have to give Obama a lot of credit. He's not only a part of the political party that caused the financial problems, he was actively involved with organizations such as ACORN which shared a very large part of the responsibility for the financial mess. It's quite a feat to be a part of all that, and still be able to convince the public that it's all the republican's fault. Especially when the Bush administration repeatedly tried to warn congress of the potential of financial disaster since he took office. But then it is true that the media helps him quite a bit in that department as well.

[iapetus]

Originally Posted by TracyCoxx

he was actively involved with organizations such as ACORN which shared a very large part of the responsibility for the financial mess.

ACORN, an organization that registers voters, is responsible for the financial mess?

[TracyCoxx]

Originally Posted by iapetus

ACORN, an organization that registers voters, is responsible for the financial mess?

ACORN does more than just voter fraud. Carter created the Community Reinvestment Act (CRA) which encouraged lenders to make loans to poor minorities. Banks pretty much ignored the CRA because it made no financial sense. So ACORN harrassed banks until they would start making the questionable loans. They would hold sit ins at the banks to drive away costomers. They would also show that banks weren't complying with CRA at public hearings and thus preventing bank mergers which the banks wanted.

So the banks started making some bad loans to the poor. This still wasn't enough for ACORN. The banks told ACORN that Freddie Mac & Fannie Mae wouldn't buy the loans from them so that's all they could do.

So ACORN lobbied congress and Clinton to enforce the CRA and force Freddie Mac & Fannie Mae to buy the bad loans. Now that there was actually a market for bad loans banks started making loans to the poor. Clinton further enforced it by creating a CRA index for banks that the banks would use to compete. So they would actually compete to see who could make the most loans to the poor.

The obvious result of this madness is that people started defaulting on their loans in such great numbers that Freddie Mac & Fannie Mae couldn't insure all the bad loans, and the govt had to step in to help Freddie and Fannie last summer.

The real problem was that since there were so many defaulted loans, no one was really sure how much the loans were worth anymore and so the flow of money siezed up and banks began to go under. Thus the financial melt down.

Where was Obama in all this? He was head of the Chicago Annenburg Challenge where he and his buddie Bill Ayers helped raise millions for ACORN. Obama was also a layer for several of ACORN's court cases and gave them leadership training. Then he moven on to the senate where he continued to support ACORN and Freddie & Fannie. This is why after being in the senate for only 2-3 years Obama was the 2nd highest receiver os campaign funds from these organizations.

This is what happens when these idealistic policies make it into the real world.

If Obama is president, do you think he'll blame ACORN and all these bad policies for the financial mess? No. He'll put the blame on Bush who had been warning congress 17 times since 2001 that this would happen. So the problem will go unfixed and you can get ready to pay even more in taxes as the govt spends trillions more on future bailout packages.

[jimnaseum]

There has not been a winning Republican ticket without a Nixon or a Bush on it since 1928.

[TracyCoxx]

Originally Posted by jimnaseum

There has not been a winning Republican ticket without a Nixon or a Bush on it since 1928.

Except for Hoover.

Oh, and Eisenhower.

Oh, don't forget Ford.

And uh, Reagan.

But yeah, other than those four, there was just Bush & Nixon.

[jimnaseum]

Hoover was elected 1928, one year before the '29 crash.
Eisenhower-Nixon
Ford lost to Carter
Reagan-Bush

[TracyCoxx]

Oh ok. Gotcha