Can win Obama win a debate Against Newt ??

[SAT2]

Why don't you try being straightforward with your claims, Intense? That would seem to be the intense thing to do.

 

[Intense]

Archie Bunker on Democrats
[ame=http://www.youtube.com/watch?v=7fqCS7Y_kME&feature=related]Archie Bunker on Democrats - YouTube[/ame]

 

[SAT2]

You are just unsuccessfully trying to cover tracks. That needs to include HUD, and FHA. Plenty of blame to go around, true enough. You are in denial about Fannie and Freddie who insured the loans.

Those who blame this on the CRA and FM and FM for the mortgage crisis are misinformed, and are unfamiliar with why it is that private lenders kept loosening their standards.

You are not being honest.

You are under-informed.

 

[Intense]

Updated: August 21, 2010, 10:15 AM

Andrew Cuomo promised to "transform the lives of millions of families across our country"

when as HUD secretary he announced his historic plan to increase home ownership.

Eleven years later, many experts think that much-heralded transformation played a role in

the devastating subprime mortgage meltdown and the worst economic downturn since the Great

Depression.

"They should have known the risks were large," said Edward J. Pinto, former chief credit

officer at Fannie Mae. "Cuomo was pushing mortgage bankers to make loans and basically saying

you have to offer a loan to everybody."

Pinto argues that Cuomo, now running for governor of New York, helped create the framework

for the subprime crisis by pushing unrealistic and irresponsible affordable housing goals as

head of the U.S. Department of Housing and Urban Development.

"He was a contributor in terms of him being a cheerleader, but I don't think we can pin too

much blame on him," Dean Baker, co-director of the Center for Economic and Policy Research,

said of Cuomo's role in the subprime crisis.

Baker sees Cuomo as a contributor because he advocated a philosophy that almost everyone

should be able to own a home. And yet, he thinks others, most notably mortgage lenders and

brokers, were the real culprits.

The debate over Cuomo's culpability in the subprime crisis has its roots in his eight-year

record at HUD, most notably his role in:

New requirements that Fannie Mae and Freddie Mac, two of the nation's largest

finance companies, expand their purchase of mortgages held by low- and moderate-income

homebuyers.

A reform that allowed Fannie and Freddie to receive affordable-housing credit for

buying private subprime mortgage-backed securities.

Increased loan ceilings and looser underwriting standards at the Federal Housing

Administration.

Cuomo's HUD career under scrutiny - City & Region - The Buffalo News

 

[SAT2]

Yes, home ownership was encouraged, banks were encouraged. But the next step is showing that this policy led to the crisis.

This is what led to the crisis:

[ame=http://www.amazon.com/Big-Short-Inside-Doomsday-Machine/dp/0393072231]Amazon.com: The Big Short: Inside the Doomsday Machine (9780393072235): Michael Lewis: Books[/ame]

 

[bripat9643]

A retro brain-dead neocon who has nothing in common with the average American leads the polls for the Repubs. Totally pitiful...........couldn't make this shit up........

Oh, right, prep school graduate with a Kenyan father who grew up in Indonesia has so much in common with "bitter clingers" holding on to their guns.

 

[Intense]

FHA today

In 1965, the Federal Housing Administration became part of the Department of Housing and Urban Development (HUD). Since 1934, the FHA and HUD have insured over 34 million home mortgages and 47,205 multifamily project mortgages. Currently, the FHA has 4.8 million insured single family mortgages and 13,000 insured multifamily projects in its portfolio.[4] The Federal Housing Administration is the only government agency that is completely self-funded.[5] However, although it claims to operate solely from its own income at no cost to taxpayers, there is an implicit guarantee that the taxpayer will help them in times of need.

During budget planning for 2008 HUD had been projecting $143,000,000 budget shortfall stemming from the FHA program. This is the first time in three decades HUD had made a request to Congress for a taxpayer subsidy. Even though FHA is statutorily required to be budget neutral, the GAO is projecting taxpayer funded subsidies of half a billion dollars over the next three years, if no changes are made to the FHA program.[citation needed]

Following the subprime mortgage crisis, FHA, along with Fannie Mae and Freddie Mac, became the source of much of the United States mortgage financing. The share of home purchases financed with FHA mortgages went from 2 percent to over one-third of mortgages in the country as conventional mortgage lending dried up in the credit crunch. Without the subprime market, many of the riskiest borrowers ended up borrowing from the Federal Housing Administration, and the FHA could suffer substantial losses. Joshua Zumbrun and Maurna Desmond of Forbes have written that eventual government losses from the FHA could reach $100 billion.[6][7]

The troubled loans are now weighing on the agency’s capital reserve fund, which has fallen to below its Congressional mandated minimum of 2 percent, from over 6 percent two years ago.

Federal Housing Administration - Wikipedia, the free encyclopedia

 

[bripat9643]

No, and if Newt ever gets the nomination, Republicans should collectively face-palm. Romney or Ron Paul are the best bets to have a decent debate with Obama.

ROFL! Newt is an excellent debater. He wiped the floor with the other candidates in the Republican debates. Obama can't function if he doesn't have a teleprompter in front of him.

Newt's main problem is that he's not very likable. I personally don't care about that, but there are plenty of morons out there who do.

 

[bripat9643]

He kicked ass when he went head to head with the Republican caucus.

A committee doesn't make a very good debate opponent.

 

[bripat9643]

Your a massive idiot.

Yea hes just a distinguished lecturer at UC, graduated magna cum laude from Harvard, and was appointed the first black president of harvard law review.

There's no evidence that Obama graduated magna cum laude. As for the Harvard Law Review, he was the Affirmative Action candidate. Like most of his accomplishments, he got the jobs purely because he's black.

 

[bripat9643]

Newt "President Obama, where are the JOBS?"

Obama “Stuck in the House.”

LOL!

How about "how will you reduce government spending?"

 

[SAT2]

No, and if Newt ever gets the nomination, Republicans should collectively face-palm. Romney or Ron Paul are the best bets to have a decent debate with Obama.

ROFL! Newt is an excellent debater. He wiped the floor with the other candidates in the Republican debates. Obama can't function if he doesn't have a teleprompter in front of him.

Newt's main problem is that he's not very likable. I personally don't care about that, but there are plenty of morons out there who do.

Obama did well in all three debates and did not have a teleprompter.

Your a massive idiot.

Yea hes just a distinguished lecturer at UC, graduated magna cum laude from Harvard, and was appointed the first black president of harvard law review.

There's no evidence that Obama graduated magna cum laude. As for the Harvard Law Review, he was the Affirmative Action candidate. Like most of his accomplishments, he got the jobs purely because he's black.

There's no evidence that he got any job purely because he's black.

Half Sigma: Harvard Law School confirms Obama's magna cum laude

Barack Obama Biography - Facts, Birthday, Life Story - Biography.com

 

[bripat9643]

No, and if Newt ever gets the nomination, Republicans should collectively face-palm. Romney or Ron Paul are the best bets to have a decent debate with Obama.

ROFL! Newt is an excellent debater. He wiped the floor with the other candidates in the Republican debates. Obama can't function if he doesn't have a teleprompter in front of him.

Newt's main problem is that he's not very likable. I personally don't care about that, but there are plenty of morons out there who do.

Obama did well in all three debates and did not have a teleprompter.

Your a massive idiot.

Yea hes just a distinguished lecturer at UC, graduated magna cum laude from Harvard, and was appointed the first black president of harvard law review.

There's no evidence that Obama graduated magna cum laude. As for the Harvard Law Review, he was the Affirmative Action candidate. Like most of his accomplishments, he got the jobs purely because he's black.

There's no evidence that he got any job purely because he's black.

Half Sigma: Harvard Law School confirms Obama's magna cum laude

Barack Obama Biography - Facts, Birthday, Life Story - Biography.com

If he in fact did graduate magna cum laude, why don't they just send the proof? Instead, all the evidence we have is the word of some Harvard employee. Furthermore, did he ever write anything for the Harvard Law Review? There isn't any that I've ever seen. I would think the president of a student paper would be expected to write an article on occasion.

Also, the only reason Obama got elected to the presidency is the fact that he's black.

He's the Affirmative Action president, but he's also the food stamp president.

 

[SAT2]

If he in fact did graduate magna cum laude, why don't they just send the proof? Instead, all the evidence we have is the word of some Harvard employee. Furthermore, did he ever write anything for the Harvard Law Review? There isn't any that I've ever seen. I would think the president of a student paper would be expected to write an article on occasion.

Also, the only reason Obama got elected to the presidency is the fact that he's black.

He's the Affirmative Action president, but he's also the food stamp president.

The word of a representative of Harvard is proof. If a document was sent, it would be yet another chapter in the birth certificate saga. You'd carry on about it being forged. Drop this accusation. Obama is smart and extremely well-educated.

Obama got elected because people liked his ideas and trusted him with the office. Other black candidates have run and gotten nowhere.

 

[cbirch2]

Issue #125, September/October 2002

Going Subprime

Will low-income homebuyers gain or lose when Fannie Mae and Freddie Mac move into the subprime lending market?

By Allen J. Fishbein

Back to Table of Contents The recent foray into the subprime mortgage market by Fannie Mae and Freddie Mac has renewed the debate over their role in the affordable housing arena. The subprime market targets borrowers with credit problems or limited credit histories who do not qualify for cheaper, prime loans. Fannie and Freddie traditionally have purchased a small share of these loans, but this figure is expected to grow significantly in the next few years. Proponents say that the two huge intermediaries can bring better pricing for some subprime borrowers and help to curb predatory lending. Competitors and some analysts say they will only cream the least risky borrowers, making other subprime loans even more costly to borrowers who need them. Still others forecast that a bigger role in the subprime market may pave the way for making traditional prime loans more expensive for some borrowers.

Defining Terms

Fannie Mae and Freddie Mac are for-profit, privately capitalized government-sponsored enterprises (GSEs) chartered by Congress to act as intermediary institutions for residential mortgages (at present that means conventional mortgages under $300,700).

By law, the GSEs must make affordable housing part of their business (see SF #80). The GSEs do not make mortgage loans directly to individual borrowers. Instead they perform their “secondary market” function by buying mortgages from banks, savings institutions and other mortgage lenders. They either keep these loans in their own portfolios or, more typically, package the loans in pools and sell them to investors as mortgage-backed securities. These functions, in turn, provide lenders with the funds needed to issue new mortgages, thus bringing additional capital into the housing loan market. For the mortgages to be packaged and sold as securities, they must meet certain standardized underwriting criteria set by the GSEs. The combined purchases by GSEs in recent years have ranged well over 50 percent of all conventional mortgage activity and this year may hit as much as 71 percent of the market. As a result, Fannie Mae and Freddie Mac have a tremendous degree of influence over which types of borrowers have access to different types of mortgage credit and on what terms.

The overall conventional mortgage market (nongovernment insured or guaranteed) is comprised of two broad categories of loans, prime and subprime. Prime mortgages constitute the largest category, representing loans to borrowers with what lenders regard as good credit (“A” quality, or investment grade). Everything else is subprime – loans to borrowers who have a history of credit problems, insufficient credit history, or nontraditional credit sources. Subprime mortgages are rated by their perceived risk, from the least risky to the greatest risk: A-minus, B, C, and even D. However, A-minus loans account for 50 to 60 percent of the entire subprime market.

Subprime borrowers frequently pay higher points and fees and are saddled with more unfavorable terms and conditions, such as balloon payments, high prepayment penalties, and negative amortization. Lenders say the higher rates and charges reflect the additional costs and risks of lending to borrowers with less than perfect or nonconventional credit. However, research conducted by Freddie Mac suggests that the higher interest rates charged by subprime lenders are in excess of the additional risks these borrowers bear. Thus, increased competition would tend to reduce borrowing costs in the subprime market.

Going Subprime: Fannie Mae and Freddie Mac consider the subprime loan market, by Allen Fishbein

Please dont post giant walls of text and think your teaching me something.

The GSE provided liquidity to the system. Just like you say, buying mortgages in the secondary market so that banks can sell it off and then go back and issue another mortgages.

How is that an argument against GSE's?

Its the GSE's fault that the banks issued loans worth nothing and sold them to the GSE's? And you have yet to address the fact that loans regulated by the Community Reinvestment Act were ova better quality than those that werent.

 

[Intense]

Issue #125, September/October 2002

Going Subprime

Will low-income homebuyers gain or lose when Fannie Mae and Freddie Mac move into the subprime lending market?

By Allen J. Fishbein

Back to Table of Contents The recent foray into the subprime mortgage market by Fannie Mae and Freddie Mac has renewed the debate over their role in the affordable housing arena. The subprime market targets borrowers with credit problems or limited credit histories who do not qualify for cheaper, prime loans. Fannie and Freddie traditionally have purchased a small share of these loans, but this figure is expected to grow significantly in the next few years. Proponents say that the two huge intermediaries can bring better pricing for some subprime borrowers and help to curb predatory lending. Competitors and some analysts say they will only cream the least risky borrowers, making other subprime loans even more costly to borrowers who need them. Still others forecast that a bigger role in the subprime market may pave the way for making traditional prime loans more expensive for some borrowers.

Defining Terms

Fannie Mae and Freddie Mac are for-profit, privately capitalized government-sponsored enterprises (GSEs) chartered by Congress to act as intermediary institutions for residential mortgages (at present that means conventional mortgages under $300,700).

By law, the GSEs must make affordable housing part of their business (see SF #80). The GSEs do not make mortgage loans directly to individual borrowers. Instead they perform their “secondary market” function by buying mortgages from banks, savings institutions and other mortgage lenders. They either keep these loans in their own portfolios or, more typically, package the loans in pools and sell them to investors as mortgage-backed securities. These functions, in turn, provide lenders with the funds needed to issue new mortgages, thus bringing additional capital into the housing loan market. For the mortgages to be packaged and sold as securities, they must meet certain standardized underwriting criteria set by the GSEs. The combined purchases by GSEs in recent years have ranged well over 50 percent of all conventional mortgage activity and this year may hit as much as 71 percent of the market. As a result, Fannie Mae and Freddie Mac have a tremendous degree of influence over which types of borrowers have access to different types of mortgage credit and on what terms.

The overall conventional mortgage market (nongovernment insured or guaranteed) is comprised of two broad categories of loans, prime and subprime. Prime mortgages constitute the largest category, representing loans to borrowers with what lenders regard as good credit (“A” quality, or investment grade). Everything else is subprime – loans to borrowers who have a history of credit problems, insufficient credit history, or nontraditional credit sources. Subprime mortgages are rated by their perceived risk, from the least risky to the greatest risk: A-minus, B, C, and even D. However, A-minus loans account for 50 to 60 percent of the entire subprime market.

Subprime borrowers frequently pay higher points and fees and are saddled with more unfavorable terms and conditions, such as balloon payments, high prepayment penalties, and negative amortization. Lenders say the higher rates and charges reflect the additional costs and risks of lending to borrowers with less than perfect or nonconventional credit. However, research conducted by Freddie Mac suggests that the higher interest rates charged by subprime lenders are in excess of the additional risks these borrowers bear. Thus, increased competition would tend to reduce borrowing costs in the subprime market.

Going Subprime: Fannie Mae and Freddie Mac consider the subprime loan market, by Allen Fishbein

Please dont post giant walls of text and think your teaching me something.

The GSE provided liquidity to the system. Just like you say, buying mortgages in the secondary market so that banks can sell it off and then go back and issue another mortgages.

How is that an argument against GSE's?

Its the GSE's fault that the banks issued loans worth nothing and sold them to the GSE's? And you have yet to address the fact that loans regulated by the Community Reinvestment Act were ova better quality than those that werent.

Please don't tell me what to post.

You are in denial in relation to Governments role in pushing bad Mortgages, reclassifying bad risk applicants, threatening Institutions that looked too hard at bad applicants, insuring Mortgages that otherwise would have never gone through, and bundling them for resale to the unsuspecting. So Fuck Off. Idiot. My point is there is plenty of blame to go around. You are in denial that Government played a role in the fiasco. Not everyone is ready to own their own home, not everyone want's to, not everyone can. Government created a Ponzi scheme in home values, high gas prices brought the house of cards tumbling down. So again, Fuck You, Barney Frank, Chris Dodd, Andrew Cuomo, and the sharks that were attracted to the scam of the Century.

 

[cbirch2]

Your a massive idiot.

Yea hes just a distinguished lecturer at UC, graduated magna cum laude from Harvard, and was appointed the first black president of harvard law review.

There's no evidence that Obama graduated magna cum laude. As for the Harvard Law Review, he was the Affirmative Action candidate. Like most of his accomplishments, he got the jobs purely because he's black.

Theres no evidence? What? Are you serious?

And obama got every job because hes black?

Have you seen the stats for the election? Pretty much the same number of blacks voted dem as they always do. Black turn out up a few percent but not out of line with the trend. So no, black people did not get obama elected.

 

[Jarhead]

If he in fact did graduate magna cum laude, why don't they just send the proof? Instead, all the evidence we have is the word of some Harvard employee. Furthermore, did he ever write anything for the Harvard Law Review? There isn't any that I've ever seen. I would think the president of a student paper would be expected to write an article on occasion.

Also, the only reason Obama got elected to the presidency is the fact that he's black.

He's the Affirmative Action president, but he's also the food stamp president.

The word of a representative of Harvard is proof.
it is? The word of someone is proof when there is a documented record that was NOT released? Wow...you are trusting.

If a document was sent, it would be yet another chapter in the birth certificate saga. You'd carry on about it being forged. Drop this accusation. Obama is smart and extremely well-educated.
Sure...to the very few that claimed that with the BC...but for the masses it would be proof
Obama got elected because people liked his ideas and trusted him with the office. Other black candidates have run and gotten nowhere.
You mean he was elected strictly based on the words of his speech writers? Wow. I would think after Bush, people would want to be a little more careful about who they voted for.

I noticed you are willing to believe the word of some Harvard employee...and yet you diod not respond to the strange fact that nowhere can anyone find anything that the man wrote while at the helm of the Law Revue....

Wonder why that doesnt seem strange to you.

 

[Jarhead]

Your a massive idiot.

Yea hes just a distinguished lecturer at UC, graduated magna cum laude from Harvard, and was appointed the first black president of harvard law review.

There's no evidence that Obama graduated magna cum laude. As for the Harvard Law Review, he was the Affirmative Action candidate. Like most of his accomplishments, he got the jobs purely because he's black.

Theres no evidence? What? Are you serious?

And obama got every job because hes black?

Have you seen the stats for the election? Pretty much the same number of blacks voted dem as they always do. Black turn out up a few percent but not out of line with the trend. So no, black people did not get obama elected.

Do you know about Obama's tenure with a law firm he was hired by after he graduated law school?

Are you aware of how those 4 years went for him?

Just curious....

 

[Intense]

If he in fact did graduate magna cum laude, why don't they just send the proof? Instead, all the evidence we have is the word of some Harvard employee. Furthermore, did he ever write anything for the Harvard Law Review? There isn't any that I've ever seen. I would think the president of a student paper would be expected to write an article on occasion.

Also, the only reason Obama got elected to the presidency is the fact that he's black.

He's the Affirmative Action president, but he's also the food stamp president.

The word of a representative of Harvard is proof.
it is? The word of someone is proof when there is a documented record that was NOT released? Wow...you are trusting.

If a document was sent, it would be yet another chapter in the birth certificate saga. You'd carry on about it being forged. Drop this accusation. Obama is smart and extremely well-educated.
Sure...to the very few that claimed that with the BC...but for the masses it would be proof
Obama got elected because people liked his ideas and trusted him with the office. Other black candidates have run and gotten nowhere.
You mean he was elected strictly based on the words of his speech writers? Wow. I would think after Bush, people would want to be a little more careful about who they voted for.

I noticed you are willing to believe the word of some Harvard employee...and yet you diod not respond to the strange fact that nowhere can anyone find anything that the man wrote while at the helm of the Law Revue....

Wonder why that doesnt seem strange to you.

I'd get a kick just out of knowing how much Foreign Student Aid he received.