Poll: Do You Think America Should Dissolve

Hi Indigo:

You realize the US has not had "legal" slavery in over 146 years?

Wayne

 

Who says, the race batting poverty pimps like Al Sharpton and Jessie I cheat on my wife with white chicks Jackson. Funny your side is the only one that is constantly on the race bait band wagon. My white conservative friends don't have much to say about it but you should hear the democrats around me rip on black people.

You do know the most dangerous place to be for an American black child is Indigo?

Their mothers womb. You see 50% of all black children are aborted. Add on top of that why don't you open up the phone book and check out where most of the Planned Parenthood clinics are located in Baltimore. You'll find out quickly that most are located in minority neighborhoods.

The KKK couldn't have dreamed that a political party could easily convince a woman of color that aborting her child was a right of passage in her community.

BTW 1,200 black children are aborted each day with over 15 million since 1973.

And Indigo it seems your political party is the one that wants these clinics to stay open and mine wants to see them closed.

Which political party is really the one that is practicing racism or genocide on the black community.

It seems the Republican party cares a whole lot more about the civil rights of those unborn children of color.

 

Hi Larry:

This is exactly what Indiana Republican Senate candidate Richard Mourdock said:

As a Christian, did you not find his comment distasteful? Apparently Indiana voters did and I suspect it was more the woman vote that showed him the door? If you have any stats on that, I would be interested in seeing them.

Wayne

 

Hi Booferama:

Have you seen the home page and any other forum but the Off Topic one? Even within the Off topic one. There are thousands of threads to read and reply too

Wayne

 

Hi Larry:

As a fellow Christian, I try to understand both intentions and deeds. He said exactly what he believes and by that measure, he stands above the fallout.

He will be employed elsewhere because of it but he stood by his beliefs and I do not fault him for it. I do however see fault in him because of the same.

Does that make sense?

Wayne

 

First a little history lesson to bring you up to speed. Most of you have been flat out lied to by the media on this whole mess. It wasn't George W Bush's fault he just got caught in office when the whole ponzi scheme blew up.

It all started back in Jimmy Carters administration
when they propose a program to end Red Lining of minority neighborhoods by the financial institutions.

Many people who had good credit and decent jobs that could afford a home were being discriminated against when it came time for them to acquire a mortgage. This was happening just because they lived in one of these Red Lined neighborhoods

The program was called the Community Reinvestment Act of 1977.

They put in enough safe guards to prevent fraud and keeping people from buying too much house and getting over their heads in debt. The CRA continued on very successfully with a few tweaks through 1996. A whole lot of lower income Americans living in poorer neighbors benefited greatly under this government program becoming home owners

Then came the Welfare Act of 1996 under President Clinton is when things started to get out of hand after the financial safe guards were pretty much eliminated as a payoff to the poor communities across the country for taking away their easy access to Welfare.

Under George W. Bush they tried 17 times to rein in the craziness that was going on in the program. Chris Dodd, Barney Frank, and Maxine Waters who were on the Banking Committee refuse to let anyone fix the mess by threatening a filibuster on any bill that came up for a vote.

When the banks balked in the late nineties and said there is no way they were taking on all this bad paper. At the time they threatened to stop making any residential mortgages if they were going to be forced to give loans out to people who would never be able to pay them back.

Here comes the Government Bureaucrats who said ok we’ll guarantee them through Fanny Mae and Freddie Mac. To get most of these people qualified many were set up with Adjustable Rate Mortgages or ARM’s. Here you have someone making $25K being given a $100K mortgage and can pay it because it only has a 3%, 2% and even 0% interest rate over the next five years.

We all saw and heard the stories of zero down, interest only mortgages even like one of my employees who got a 4% down deal then that 4% was rolled into her mortgage so people could buy a home with no money down. With of all this easy money, home prices exploded across the country. The problem soon became evident when all those ARM’s that were put into place reset. These homeowners were now being put behind the Eight Ball. That is because these peoples $500 mortgage payment blew up to a $1200 payment over night when their ARM reset.

The banks realized early on that this Ponzi scheme on all this bad paper was going to blow up probably sooner than later. No one want to be the one holding the bag so they package them up and sold them off as AAA rated securities. European Banks bought up a whole lot of these junk paper mortgage packages and most of the financial mess we are seeing in the E.U. was brought on by this bad paper. You have no idea how much money the U.S. Government had to pay to the European Central Bank over this FUBAR. Makes the bail out of the Wall Street banks look small.

This banking and housing mess was caused by a bunch of bureaucrats who felt that everyone should be able to buy a house whether they can afford it or not. The banks since they are under strict federal regulations were between a rock and a hard place as they say. Either make the loans or we here at Government house are going to put a gun to your head make your life miserable.

Well we all saw what happened when the ARM’s on these unqualified home owners started to reset in 2006.

Well here comes the nightmare a second time on steroids. The same game that ran between 1996 and the 2007-2008 housing crash is now being played again and this time it is going to be far worse. It is being repackaged as an Affirmative Action Program for minorities.

Equal Outcomes Act

 

Indigo, lets see I'm single and work upwards of 65 hours a week running my business. When would I have time to take care of a child. I feel bad enough now that I can't spend more time at home with the feral cat I took in this summer.

So tell about all the kids have you adopted into your home, since you care so much.

Your argument is an empty one to say the least.

 

Hi Al:

Similarly, it was Clinton who signed the repeal of Glass-Steagall that eliminated much of the oversight on Wall Street. Freed from onerous regulation, the banks could supposedly “innovate” and grow. They sure did…

With Wall Street guy Rubin and Republican Gramm onboard that crazy train…

Repeal of Glass-Steagall: Not a cause, but a multiplier

… the role the repeal of the Glass-Steagall Act played in the financial crisis. The Depression-era regulation that separated Main Street banks from Wall Street investment firms had a huge impact on the finance sector.

The repeal of Glass-Steagall may not have caused the crisis — but its repeal was a factor that made it much worse. And it was a continuum of the radical deregulation movement. This philosophy incorrectly held that banks could regulate themselves, that government had no place in overseeing finance and that the free market works best when left alone. This belief system manifested itself in damaging ways, including eliminating regulation and oversight on derivatives, allowing exemptions for excess leverage rules for a handful of players and creating dangerous legislation...

The Fed still would have taken rates down to unprecedented low levels. This would have led to a global spiral in asset prices. The nonbank, lend-to-sell-to-securitizer mortgage originators were still going to make subprime-mortgage loans to unqualified borrowers. Bear Stearns and Lehman Brothers would still have overwhelmingly increased exposure to subprime mortgages. AIG would still have written trillions of dollars in credit-default swaps and other derivatives with zero reserves set against them. The largest security firms and deposit banks would still have charged headlong into the subprime securitization business. And Fannie Mae and Freddie Mac would still have belatedly chased these banks into the same subprime market, just at the peak of the housing boom.

So no, the repeal of Glass-Steagall was not a proximate cause of the crisis. But its impact was both nuanced and complex…

Glass-Steagall’s repeal allowed the credit bubble to inflate much larger. It allowed banks to be more complex and difficult to manage. When it all came down, the crisis was broader, deeper and more dangerous than it would have been otherwise…

Newfangled derivatives? No oversight, reporting or reserves necessary, courtesy of the Commodities Futures Modernization Act of 2000. Subprime-lend-to-sell-to-securitizers business model? Those are the financial innovators! At least, that is what Greenspan called them, and why he refused to oversee them as Fed chairman. Rules on SEC leverage? Let’s create a special exemption from the law for just five investment banks.

Of course “reputational risk” would serve as a deterrent to poor decision making! No bank would ever behave so recklessly as to put their own hard-won status on the line — or its very existence.

Wayne