Affordable Social Housing and the root cause of the recession.
Guess who said that "subprime lending started off as a good idea — helping Americans buy homes who couldn’t previously afford to. Financial institutions created new financial instruments that could securitize these loans, slice them into finer and finer risk categories and spread them out among investors around the country and around the world. In theory, this should have allowed mortgage lending to be less risky and more diversified."
Senator Barack Obama in 2007.
Before 1995, when you borrowed money for a house or a car or even a credit card, you actually had to qualify. In most cases you even had to put a downpayment down as collateral. The idea was, and a good idea it was, if you borrowed hard earned money then you should be in the boat with the bank - with your own hard earned money. This common sense approach worked well for generations of Americans and for some all around the world.
Well the Liberals didn`t like this cornerstone of capitalism. They didn`t think that credit checks or actually having to qualify was "fair." They forced all US banks to open credit to anybody and everybody and all you had to have was a pulse. No credit checks. Just a pulse.
http://clinton6.nara.gov/
Did it work? Yes, for a while. They handed out trillions of dollars and amazingly enough, economies everywhere boomed. But something went wrong. Too many people who never should have qualified began defaulting on all sorts of loans. Mostly mortgages. Banks collapsed. Enter the bailouts. Government moving policy away from capitalism to trickle up - spread the wealth without actually earning it Affordable Social Housing. No Government including the US Government should have the power to do what it did to our banks. To force them into bankruptcy. What it did to our economy. To the worlds economy.
I said this three years ago and I`ll say it again. Electing Barack Obama the Community Organizer preaching "spread the wealth" to fix the Affordable Social Housing mortgage foreclosure crisis mess was like hiring an arsonist to put out a fire. Government spreading the wealth caused this worldwide recession. Obama is simply doing the same things that went wrong in the first place. My Country as I know it may never survive the Liberals. They attacked our banks and Wall Street wit Affordable Social Housing. Under Obama, they are attacking all other US businesses. We had over 40,000 new regulations coast to coast attacking businesses that went into law Jan 1, 2012. And it`s nothing new. They have been attacking businesses and workers for years, decade. One of my employees just yesterday was handed down a $3,000 fine by the big new city of Atlanta EPA. A truck driver. Can he afford this? No.
Government is the problem. And Obama is growing Government like nothing we`ve ever seen before here.
Guess who said that "subprime lending started off as a good idea — helping Americans buy homes who couldn’t previously afford to. Financial institutions created new financial instruments that could securitize these loans, slice them into finer and finer risk categories and spread them out among investors around the country and around the world. In theory, this should have allowed mortgage lending to be less risky and more diversified."
Senator Barack Obama in 2007.
Before 1995, when you borrowed money for a house or a car or even a credit card, you actually had to qualify. In most cases you even had to put a downpayment down as collateral. The idea was, and a good idea it was, if you borrowed hard earned money then you should be in the boat with the bank - with your own hard earned money. This common sense approach worked well for generations of Americans and for some all around the world.
Well the Liberals didn`t like this cornerstone of capitalism. They didn`t think that credit checks or actually having to qualify was "fair." They forced all US banks to open credit to anybody and everybody and all you had to have was a pulse. No credit checks. Just a pulse.
http://clinton6.nara.gov/
Did it work? Yes, for a while. They handed out trillions of dollars and amazingly enough, economies everywhere boomed. But something went wrong. Too many people who never should have qualified began defaulting on all sorts of loans. Mostly mortgages. Banks collapsed. Enter the bailouts. Government moving policy away from capitalism to trickle up - spread the wealth without actually earning it Affordable Social Housing. No Government including the US Government should have the power to do what it did to our banks. To force them into bankruptcy. What it did to our economy. To the worlds economy.
I said this three years ago and I`ll say it again. Electing Barack Obama the Community Organizer preaching "spread the wealth" to fix the Affordable Social Housing mortgage foreclosure crisis mess was like hiring an arsonist to put out a fire. Government spreading the wealth caused this worldwide recession. Obama is simply doing the same things that went wrong in the first place. My Country as I know it may never survive the Liberals. They attacked our banks and Wall Street wit Affordable Social Housing. Under Obama, they are attacking all other US businesses. We had over 40,000 new regulations coast to coast attacking businesses that went into law Jan 1, 2012. And it`s nothing new. They have been attacking businesses and workers for years, decade. One of my employees just yesterday was handed down a $3,000 fine by the big new city of Atlanta EPA. A truck driver. Can he afford this? No.
Government is the problem. And Obama is growing Government like nothing we`ve ever seen before here.
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