[Rhodes22-list] Comrade Wallace and Comrade Peter - political - the incredible shrinking sarah palin

[TN Rhodey]

Brad, No I am not big on chasing video links so I didn't view them
so I can't comment. If the video claims CRAs caused this I would only agree
that the changes to CRA and the abuses afterwards contributed. CRA has been
around since the 70s and was (back then) a very good thing. The main
emphasis was to eliminate red lining. Yes I realize changes were made to CRA
during Clinon's office (as well as other presidents). One bad change during
Clinton's term was the reduction of capital needed by FannieFreddie to
securatize a loan. Bush pushed for some changes in 2003 but congress did
nothing voting along party lines keeping status quo.

Something to consider.... most of the mortgage companies that wrote
sub-prime loans did not have to follow CRA unless they were selling to a
bank that met CRA requirements.  Most estimates I have seen put well less
than half the foreclosures due to CRA underwritten loans. Those that worked
through this back then realize if it wasn't GSEs buying these turds hedge
funds would have.  The CRA loans did not have to be purchased by the GSEs
but they did. Those running Fannie/Freddie thought they could make money and
it worked for a while. A house of cards eventually will topple.

On Mon, Sep 29, 2008 at 9:29 AM, Brad Haslett <flybrad at gmail.com> wrote:

> Wally,
>
> Here's what Bubba had to say (at 2:40 on the interview) -
>
> http://www.youtube.com/watch?v=n2TT4jrIIak
>
> Wall Street would never have had the opportunity to unleash their
> greed if the the Community Reinvestment Act had not been in place and
> Fannie & Freddie had not purchased marginal loans.
>
> You did watch the instructional videos I posted, yes?  If you disagree
> with them, point out where they are wrong.
>
> Brad
>
> On Mon, Sep 29, 2008 at 8:05 AM, TN Rhodey <tnrhodey at gmail.com> wrote:
> > Ed, So when the right makes mistakes they are not true Republicans? Trust
> me
> > on this....there is plenty of blame on both sides. Until we pull politics
> > out of this mess it will not get solved. Note current posturing from the
> > left, to load with pork is ......well pure BULL. The right sitting on
> their
> > is hands is almost as bad. So if your guy is for this then we can
> consider
> > this good scoialism?
> >
> > The cause was greed and stupidity not politics. If you want to go on a
> witch
> > hunt please keep that in mind.  For one who has called me a socialist
> many
> > times in the past your viewpoints seem surprising. The fact is when
> people
> > made money on the real estate boom all was good. Greenspan was a genius
> > instead of the pompous ass he really is. What is truly sad is his claim
> that
> > he didn't see this coming. I certainly believe him. Greenspan was a huge
> > proponent of many of the hybrid mortgages that are part of the problem.
> >
> > To throw people in jail usually you need to prove they broke the law. If
> > this can be done then people should go to jail.  The security agencies
> that
> > rated this crap "A" might be a good place to start. If they can prove
> they
> > knowingly mis-rated the risk to keep making commissions......
> >
> > Regarding campaign funding  - Neither side represents the people...just
> > whomever gave them the most money. PACs and lobby money are a big
> problem.
> >
> > As to only voting for 4 people involved in this mess...I would think
> every
> > person we have all voted into Congress and the White House over the last
> 15
> > years is involved in this mess. Lots of politicians sat on their hands
> when
> > all appeared rosy.
> >
> > Fair Winds,
> >
> > Wally
> >
> >
> >
> >
> > On Sun, Sep 28, 2008 at 8:05 PM, Tootle <ekroposki at charter.net> wrote:
> >
> >>
> >>
> >> Comrade Peter:
> >>
> >> My wife wants to know if your wife knows about your Chauvinists Post?
>  She
> >> wants to know why the lady Rhodies are allowing such an overt
> Chauvinists
> >> to
> >> post without comments.
> >>
> >> Comrade Wallace:
> >>
> >> As to any compromise, I do not vote but for four people involved in this
> >> mess.  After having heard that Black lady Representative's comments on
> tv a
> >> few weeks back, I just begin to understand the problems coming from
> >> California and the National Democratic Party.
> >>
> >> I have pointed out there are those who call themselves who call
> themselves
> >> Republicans, you may hear the term 'RINO'.  There are others, well you
> may
> >> have heard the term, 'Rockefeller Republicans'.  Then there are
> Democrats
> >> and National Democrats.  The long and short of it, there has neither
> been a
> >> true Republican majority whereas the self serving and less than honest
> have
> >> held sway.
> >>
> >> As to the current bailout bill?  I will look to Jim DeMint, Senator from
> >> South Carolina.  I am personally acquainted with Jim and support his
> >> politics most of the time.  By the way, Jim used to sail on Lake
> Hartwell
> >> before Washington and politics took his time.  So, I encourage you to
> look
> >> to Jim's stands and opinions.  He studies the issues diligently.
> >>
> >> As to whether I support the bailout?  If Jim supports it, then I will
> >> support him.  I do think that Stan's daughter has brought up a valid
> issue
> >> for discussion.  I do think that insiders committed wrongs.  The
> exorbitant
> >> amounts paid to Washington insiders as consultants, lobbyist, etc. are
> very
> >> wrong.  I question Hank Paulson's part in this as former President of
> >> Goldman, Sach's.  All this being said, I think that something should be
> >> done
> >> to ameliorate the situation.
> >>
> >> I think that Ben C. should comment on legal remedies for the gross
> payments
> >> made to CEO's and others.
> >> And how do we deal with the payments by those CEO's, insiders to
> political
> >> campaigns.  Free speech is a person standing on a street corner
> expressing
> >> his opinion and it is not massive payoffs.  That is not speech, it is
> >> wrong,
> >> it is graft, etc.
> >>
> >> I think some people need to go to jail, that includes CEO's of failing
> >> institutions, former CEO's, certain Senators, Congressmen, and those in
> >> charge of regulatory organizations.  I have said it before, if you are
> >> knowledgeable of wrong doing and cannot stop it then you should quit the
> >> job
> >> otherwise you become a conspirator.
> >>
> >> Anyway, it is good to have you back.  And imagine we recently had a post
> by
> >> Paul Grandholm, one of the apostles of the Rhodes list.
> >>
> >> Ed K
> >> Greenville, SC, USA
> >>
> >> --
> >> View this message in context:
> >>
> http://www.nabble.com/political---the-incredible-shrinking-sarah-palin-tp19704986p19716840.html
> >> Sent from the Rhodes 22 mailing list archive at Nabble.com.
> >>
> >> __________________________________________________
> >> To subscribe/unsubscribe or for help with using the mailing list go to
> >> http://www.rhodes22.org/list
> >> __________________________________________________
> >>
> > __________________________________________________
> > To subscribe/unsubscribe or for help with using the mailing list go to
> http://www.rhodes22.org/list
> > __________________________________________________
> >
> __________________________________________________
> To subscribe/unsubscribe or for help with using the mailing list go to
> http://www.rhodes22.org/list
> __________________________________________________
>