Clear explanation of why our financial house is in disarray...

[ironglow]

  Much blabber and bluster about how we got ointo the financial mess we are in today. jibjab cuts to the quick.

    www.jibjab.com/view/253615

[ms]

I think this has alot to do with the war and the price of oil. Not with people lost there job couldn't pay the house note.  If you were a banker and someone paid two years on a house note. Then Left you have two years of payment and the house your ahead.  Why would the banker give loans to people with no jobs ?

[ironglow]

  ms;
  You better check up on the liberal legislators and "community organizers" that founded ACORN and such groups that in turn, coersed the Clinton admin and the Dems to make a law forcing lending institutions to float loans to non-employed people, under the guise of "affordable housing".  Look it up..it's the law..

[ms]

  ms;
  You better check up on the liberal legislators and "community organizers" that founded ACORN and such groups that in turn, coersed the Clinton admin and the Dems to make a law forcing lending institutions to float loans to non-employed people, under the guise of "affordable housing".  Look it up..it's the law..

I agree with what you say but not to show proof of a job. I can't see a bank doing that crazy.

[ironglow]

  They were rel;ying on a govt "bailout"if their gambles went sour...

[Graybeard]

Buffet bought a HUGE stake in them just before the bail out and publicly stated the ONLY reason he did was he KNEW the government would do the right thing and that he'd wind up clearing a few billion on the deal.

[45-70.gov]

i  talked to  a Friend  that  runs  a credit  union

he  took  it   over  when  my  father-in-law  left

they are  required  to wright  100%  loans  or  face charges  during  the Clinton   years

poor  people  for  the  most  part  are  worthless-

they  contracted  to  repay  the  money  and  didn't

freedom  isn't  free  and  they  re  thieves  if  they  don't pay up

[Matt]

  ms;
  You better check up on the liberal legislators and "community organizers" that founded ACORN and such groups that in turn, coersed the Clinton admin and the Dems to make a law forcing lending institutions to float loans to non-employed people, under the guise of "affordable housing".  Look it up..it's the law..

ummm hate to say it but your wrong... first of all Clinton persuaded the federal reserve chairman to change the ratings requirements for banks thereby forcing the banks to make the risky loans to get the better ratings.... no laws and the dem's did not hold majority when this all took place which is the reason Clinton had to do it the way he did...   Again I beg you people stop talking out of your a.s.s. and do a little research... please...

[ironglow]

  In any case, we know where the responsibility lies ! You don't think there was any coercion toward Clinton's and their cronies that wanted to get re-elected ? Politics, is all about coercion..promising to deliver or not deliver the vote..and as the case of ACORN, they often do it with our money. They even tried to give ACORN some in the bailout package.

[ms]

  ms;
  You better check up on the liberal legislators and "community organizers" that founded ACORN and such groups that in turn, coersed the Clinton admin and the Dems to make a law forcing lending institutions to float loans to non-employed people, under the guise of "affordable housing".  Look it up..it's the law..

ummm hate to say it but your wrong... first of all Clinton persuaded the federal reserve chairman to change the ratings requirements for banks thereby forcing the banks to make the risky loans to get the better ratings.... no laws and the dem's did not hold majority when this all took place which is the reason Clinton had to do it the way he did...   Again I beg you people stop talking out of your a.s.s. and do a little research... please...

  Thanks matt