Feb jobs report

[The Purge]

FACT

FACT: When ever the lying scum Right says something is a "FACT" in all caps, it is ALWAYS a lie.

ROTFLMFAO.....COMMUNIST SCUM...AM I LYING NOW?.....LOLOLOLOLOLOLOL!

 

[edthecynic]

I would add to that the deregulation the bush boy did that allowed Fannie Mae to buy sub prime loans.

It was illegal for Fannie Mae to buy sub prime loans before the bush boy.

Those sub prime loans were bundled with a few good ones and ll were marked prime even though it was known that was a lie. The rational was the good loans would cancel out the bad ones. We all know how that worked out.

Before deregulation, sub prime loans were considered predatory lending and illegal in a lot of states.

My highlight above.

Re-writing history I see.

UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans
Posted on 03 October 2008

Do you remember how we told you that the Democrats and groups associated with them leaned on banks and even sued to get them to make bad loans under the Community Reinvestment Act which was a factor in causing the economic crisis (see HERE ) … well look at what some fellow bloggers have dug up while researching Obama’s legal career. Looks like a typical ACORN lawsuit to get banks to hand out bad loans.

In these lawsuits, ACORN makes a bogus claim of Redlining (denying poor people loans because of their ethnic heritage). They protest and get the local media to raise a big stink. This stink means that the bank faces thousands of people closing their accounts and get local politicians to lobby to stop the bank from doing some future business, expansions and mergers. If the bank goes to court, they will win, but the damage is already done because who is going to launch a big campaign to get the bank’s reputation back?

It is important to understand the nature of these lawsuits and what their purpose is. ACORN filed tons of these lawsuits and ALL of them allege racism.

Thanks to the IUSB Vision Weblog for providing additional details of this story.

UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans - Media Circus | Media Circus

Regarding the Democrats actions on Capitol Hill.

Here the Democrats are railing that there is nothing wrong with Fannie and Freddie and to simply leave them alone.

LIES all LIES!

 

[edthecynic]

FACT

FACT: When ever the lying scum Right says something is a "FACT" in all caps, it is ALWAYS a lie.

ROTFLMFAO.....COMMUNIST SCUM...AM I LYING NOW?.....LOLOLOLOLOLOLOL!

You are ALWAYS lying and nobody knows it more than YOU!

 

[Markle]

Trump just like Obama have little to do with job creation and has more to do with the economies of the States but alas you are too daft to understand that and will put it on one person as usual...

Malarkey!

In these two cases, failed former President Barack Hussein Obama and President Donald Trump, they both have had a huge amount to do with job creation. Just one thing, President Obama pushed hard for thousands of destructive regulations leading to a lackadaisical economy better known as malaise during the failed former President Billy Carter administration.

By repealing those destructive regulations, we now have an economy with far more jobs than workers and wages are increasing, NATURALLY instead of being forced by the government.

 

[The Purge]

FACT

FACT: When ever the lying scum Right says something is a "FACT" in all caps, it is ALWAYS a lie.

ROTFLMFAO.....COMMUNIST SCUM...AM I LYING NOW?.....LOLOLOLOLOLOLOL!

You are ALWAYS lying and nobody knows it more than YOU!

So you cant refute anything I wrote so we fall back on the old Communist playbook...YOU LIE......Ed the asshole strikes again!

 

[Markle]

The jobs report was a mixed bag, IMO.

Yes, the Establishment Survey was TERRIBLE...with Goods Producing taking it on the chin (and this is Trump's bread-and-butter).

And wages barely went up and average hours went down.

Employment Situation Summary Table B. Establishment data, seasonally adjusted


But the Household Survey was pretty good with 255,000 more people employed.

Employment Situation Summary Table A. Household data, seasonally adjusted


So overall, the jobs numbers were a mixed bag. Not good, but much better than the 20K Establishment Survey number indicates.

As I always say on these things...ALWAYS LOOK PAST THE HEADLINES.

To the contrary, this is great news. It demonstrates that we are undeniably at full employment, more jobs than workers and wages are increasing.

"Average earnings in February were 3.4 percent higher than a year earlier, growing to $27.66 per hour. That's a noticeable pickup from January's year-over-year gain of 3.1 percent. Economists have been looking for signs that wages are growing more given the low unemployment rate and employers finding it difficult to fill positions."

U.S. Economy Loses Steam, Adding Only 20,000 Jobs Last Month

 

[Markle]

FACT: Liberal Public Policy caused the mortgage crisis by mandating eased requirements for lending, even to people who had no chance of ever paying the loan back. If banks and other lending institutions did not comply, their "score" from the SEC was too low to permit certain business transactions such as merges, etc. This is nothing less than a gun held to the head.

FACT: Many lending institutions were sued or otherwise pressured by ACORN, forcing them to make loans to folks who didn't qualify nor had any chance of ever repaying that loan.

FACT: HUD (Housing and Urban Development) under Andrew Cuomo, head of HUD) browbeat banks to make loans to folks who they knew couldn't pay them back.

FACT: Many lending institutions were sued or otherwise pressured by ACORN, forcing them to make loans to folks who didn't qualify nor had any chance of ever repaying that loan. IN FACT, BARACK OBAMA WAS INVOLVED IN AT LEAST ONE OF THESE LAWSUITS

You Tube

FACT: Fannie Mae's sole purpose for being was to offer a Federal Guarantee of loans. So banks and other lending institutions didn't need to worry about thing. If a loan went bad, Fannie Mae was there to pick up the pieces (until there were too many pieces to pick up)

FACT: The Democrats stacked the operations of Fannie Mae with other Democrats who then cooked the books (FM had to pay MILLIONS in fines to the SEC over this) and took HUNDREDS OF MILLIONS OF DOLLARS in bonuses and funneled MILLIONS in campaign contributions to members of Congress. Franklin Raines (part of the Obama Administration) personally took 90 million dollars despite Fannie Mae's fines and fraud.

FACT: Bill Clinton turned a blind eye to all of this during most of the 90's. In fact, he worsened the situation in 1995 by making the CRA even more lopsided and requiring even MORE bad loans. One thing he did was to force lending institutions to accept up to 31% of one's income for a mortgage whereas previously it was only 25%

FACT: The Democrats who run Fannie Mae took hundreds of millions in bonuses while Congressional Dems provided cover, including Charlie Rangel , Chris Dodd , Barack Obama and Joe Biden.

FACT: Democrat Chris Dodd was #1 recipient with Democrat Barack Obama being #2 in campaign contributions from Fannie Mae and Freddy Mac

FACT: The Democrats blocked every attempt by Republicans to investigate Fannie Mae and its business practices. In fact, the Bush Administration made over 30 attempts over his two terms in office only to have the Democrats block every one through parliamentary procedures as the Republicans, while controlling both Houses, NEVER had a super majority so the Dems could block anything they pleased (case in point - judicial nominees)

http://query.nytimes.com/gst/fullpag...gewanted=print

Quote:
September 11, 2003
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON

WASHINGTON, Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
Note the date

Quote:
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON

WASHINGTON, Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.
http://www.bucksright.com/bush-propo...n-in-2003-1141

Quote:
A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.

Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.

Both entities were recently taken over by the government, a move that puts trillions of taxpayer dollars at risk.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

But Democrats in Congress, also known as “the caucus perpetually on the wrong side of history,” were having none of this “responsibility” stuff.

”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial ServicesCommittee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.

The proposal worked its way around Congress for a couple of years. Efforts at reform of the kind proposed by President Bush were shot down by Democrats each time.

In 2005, Republican Mike Oxley, then chairman of the House Financial Services Committee, brought up a reform bill (H.R. 1461), and Fannie and Freddie’s lobbyists set out to weaken it.

[...]

During this period, Sen. Richard Shelby led a small group of legislators favoring reform, including fellow Republican Sens. John Sununu, Chuck Hagel and Elizabeth Dole. Meanwhile, [Democrat in bed with the mortgage industry Chris] Dodd — who along with Democratic Sens. John Kerry, Barack Obama and Hillary Clinton were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008 — actively opposed such measures and further weakened existing regulation.

According to OpenSecrets.org, between 1988 and 2008 Dodd received $133,900, Kerry $111,000, Clinton $75,550, and Obama — in only 143 days in the Senate — received a whopping $105,849 from Fannie Mae and Freddie Mac.

Pennsylvania Democrat representative Paul Kanjorksi, who also opposed new Fannie Mae and Freddie Mac regulations, was given more than any other member of the House of Representatives. He was paid $65,500 by representatives of these entities.

And, in case you were wondering, John McCain co-sponsored a bill requiring greater Fannie Mae / Freddie Mac regulation in 2005. It was also blocked procedurally by Democrats.

The 2003 New York Times article was unearthed by a Free Republic poster.

UPDATE: 2004 video posted to YouTube shows Republicans arguing for, and Democrats arguing against, regulations that would have saved us from the current crisis.
http://www.bucksright.com/congressma...ge-crisis-1451

Quote:
Congressman Sorry Democrats Dropped Ball On Mortgage Crisis
Wed, Oct 1, 2008 at 10:55 am Posted by Steven in Economy

After being featured on Hannity & Colmes in a damning 2004 video showing Democrats fighting tooth-and-nail against greater Fannie Mae and Freddie Mac regulations, Democrat Congressman Artur Davis admits Democrats dropped the ball on reigning in the failed institutions and calls on fellow Democrats to do the same.

“Like a lot of my Democratic colleagues, I was too slow to appreciate the recklessness of Fannie Mae and Freddie Mac. I defended their efforts to encourage affordable homeownership, when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit that when it comes to Fannie and Freddie, we were wrong. By the way, I wish my Republican colleagues would admit that they missed the early warning signs that Wall Street deregulation was overheating the securities market and promoting dangerously lax lending practices. When it comes to the debacle in our capital markets, there is much blame to go around for both sides.”

Along with President Clinton, I take issue with Davis’ contention that equal blame exists on both sides. President Bush requested greater oversight in 2003, Republicans are clearly seen in the video fighting for greater oversight in 2004, and John McCain led the charge for greater oversight in 2005. All efforts were rebuffed by Democrats, who demagogued the issue with racial politics that made reform impossible to accomplish. At least they tried. I see no evidence of any push toward greater Fannie Mae / Freddie Mac oversight since the short bus rolled onto Capitol Hill in January 2007.

That said, I appreciate Congressman Davis’ candor in admitting Democrats let their ideology get in the way of what was right for the country.

100% accurate. This must drive Progressives nuts.

 

[Toddsterpatriot]

Cite the law of which you speak so we can look it up.

And I like how quickly you abandon your own video after it blew up in your face.

The fair housing act that lbj passed the snowball rolling

LOLOLOLOL

I didn’t ask you to prove you’re crazy gramps, I asked you for the law that caused the collapse. A 40 year old law did not cause it. Handing out 1% subprime ARMs like candy in the 2000’s after the federal fund rate dropped to 2%, then 1% — caused it.

And the much needed congressional oversight which could have prevented it never came from Congress. You know, the Congress run by Republicans.

I would add to that the deregulation the bush boy did that allowed Fannie Mae to buy sub prime loans.

It was illegal for Fannie Mae to buy sub prime loans before the bush boy.

Those sub prime loans were bundled with a few good ones and ll were marked prime even though it was known that was a lie. The rational was the good loans would cancel out the bad ones. We all know how that worked out.

Before deregulation, sub prime loans were considered predatory lending and illegal in a lot of states.

I would add to that the deregulation the bush boy did that allowed Fannie Mae to buy sub prime loans.

Sorry, that bright idea started under Clinton.

F&F didn't start the housing collapse nimrod...they were a victim of it

Who said they started it, moron?

 

[Markle]

Just a bit more to add to the Progressives denial about they being responsible for the mortgage/housing/financial meltdown.

Shameful really. In addition, when Barney Frank was on the finance committee making all these rules forcing Fannie and Freddie to make more sub-prime loans, his lover, at the time, was a director on the board of Fannie Mae. The more loans, the more his lover was paid.

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
August 5, 1997
http://www.thefreelibrary.com/HUD+t...Minority+Homeownership+and+Work...-a019650647

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg - Are you a robot?

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Bloomberg - Are you a robot?

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae

 

[GreenAndBlue]

The big wage increase was a big help for the economy

It was so good that it brought down the unemployment rate to record lows

Because one wage can now make for less family members having to work .

Great news for trump

 

[Mac1958]

Hoping for the worst when not in power, that's where we are now.

Don't you mean where we have always been, Mr Both Sides Do It?

November 5, 2008
RUSH: I hope all your Joe the Plumbers are unemployed in six months! There.

October 31, 2008
RUSH: Joe the Plumber. Now, Joe the Plumber is an average citizen

February 13, 2009
I Hope the Stimulus Package Fails
RUSH: I hope it prolongs the recession.

Yes, exactly.

Amazing how similar the two ends of the spectrum can be.
.

 

[Dragonlady]

I would add to that the deregulation the bush boy did that allowed Fannie Mae to buy sub prime loans.

It was illegal for Fannie Mae to buy sub prime loans before the bush boy.

Those sub prime loans were bundled with a few good ones and ll were marked prime even though it was known that was a lie. The rational was the good loans would cancel out the bad ones. We all know how that worked out.

Before deregulation, sub prime loans were considered predatory lending and illegal in a lot of states.

My highlight above.

Re-writing history I see.

UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans
Posted on 03 October 2008

Do you remember how we told you that the Democrats and groups associated with them leaned on banks and even sued to get them to make bad loans under the Community Reinvestment Act which was a factor in causing the economic crisis (see HERE ) … well look at what some fellow bloggers have dug up while researching Obama’s legal career. Looks like a typical ACORN lawsuit to get banks to hand out bad loans.

In these lawsuits, ACORN makes a bogus claim of Redlining (denying poor people loans because of their ethnic heritage). They protest and get the local media to raise a big stink. This stink means that the bank faces thousands of people closing their accounts and get local politicians to lobby to stop the bank from doing some future business, expansions and mergers. If the bank goes to court, they will win, but the damage is already done because who is going to launch a big campaign to get the bank’s reputation back?

It is important to understand the nature of these lawsuits and what their purpose is. ACORN filed tons of these lawsuits and ALL of them allege racism.

Thanks to the IUSB Vision Weblog for providing additional details of this story.

UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans - Media Circus | Media Circus

Regarding the Democrats actions on Capitol Hill.

Here the Democrats are railing that there is nothing wrong with Fannie and Freddie and to simply leave them alone.

Your posted a fake news article that said President Obama sued Citibank in October 2008. Obama wasn’t elected President until November 2008.

 

[Harpy Eagle]

He'll have them nigg3rs voting Democrat for the next hundred years ya know

it is always good when people let their true racist self out!

LBJ? He was a complete fuck up. That's why we''ve got parasites like you and other blacks dependa\nt on our "Great Society".

do not worry little man, I will keep working for about 12 more years to keep funding your welfare checks, then you will have to rely on someone else to mooch off of

Oh, and it is a fake quote...

I'd love to get free stuff just like you, but they don't send it overseas. I could pm you an account where you could send your imaginary contribution from your imaginary job if you like, but I am sure the cost of the international transfer will far exceed any such contribution.

you have a wonderful imagination

 

[RealDave]

Any Trumpettes want to talk about this yet?

Whats the numbers?

Wages are up and unemployment is down.

This is another " Yea my wife slept with every guy on the block but she makes a good meatloaf" excuse.

 

[Muhammed]

Any Trumpettes want to talk about this yet?

Whats the numbers?

Wages are up and unemployment is down.

This is another " Yea my wife slept with every guy on the block but she makes a good meatloaf" excuse.

That's your personal problem.

 

[Markle]

Your posted a fake news article that said President Obama sued Citibank in October 2008. Obama wasn’t elected President until November 2008.

Please actually READ the article. This was even before failed former President Barack Hussein Obama was in office. When he was in Chi-Town.

 

[Faun]

Who fought the GOP effort?

Why the GOP of course!
As you well know the GOP blocked EVERY reform bill from coming to the floor for a vote in the GOP controlled Congress

Only a Communist could lie like this and think he could get away with it!

Democrats Were Wrong on Fannie Mae and Freddie Mac
U.S. News & World Report
Oct 6, 2008 · That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they

LOLOL

Imbecile, from your own link...

Congress has cooperated only once. In spring 2007​

So for 6 years while Republicans controlled Congress, they passed no reform at all. Democrats take over in January, 2007; and by March, a GSE reform bill passes in the House.

Now do you see why Republicans are to blame?

 

[Faun]

Timeline shows Bush, McCain warning Dems of financial and housing crisis!

You mean while Republicans controlled Congress -- so what bills did Republicans pass between 2001-2006 to stave the financial collapse?

Oh, that's right -- none.

DeathRATS BLOCKED ALL THE BILLS AS THE ABOVE SHOWS.....STUPID ABNORMALS!

LOLOL

Dumbfuck, until 2007, they were the minority party and blocked nothing.

 

[my2¢]

Hopefully this is the economy just taking a breathe. While +20,000 jobs added at least the unemployment rate fell to 3.8%

In February, employment in professional and business services continued to trend
up (+42,000), in line with its average monthly gain over the prior 12 months.

Health care added 21,000 jobs in February and 361,000 jobs over the year. Employment
in ambulatory health care services edged up over the month (+16,000).

In February, wholesale trade employment continued its upward trend (+11,000). The
industry has added 95,000 jobs over the year, largely among durable goods wholesalers.

Employment in construction declined by 31,000 in February, partially offsetting an
increase of 53,000 in January. In February, employment declined in heavy and civil
engineering construction (-13,000). Over the year, construction has added 223,000 jobs.

Manufacturing employment changed little in February (+4,000), after increasing by an
average of 22,000 per month over the prior 12 months.

In February, employment in leisure and hospitality was unchanged, after posting job
gains of 89,000 and 65,000 in January and December, respectively. Over the year,
leisure and hospitality has added 410,000 jobs.

Employment in other major industries, including mining, retail trade, transportation
and warehousing, information, financial activities, and government, showed little
or no change over the month.

Employment Situation Summary

​

 

[Dragonlady]

Timeline shows Bush, McCain warning Dems of financial and housing crisis!

You mean while Republicans controlled Congress -- so what bills did Republicans pass between 2001-2006 to stave the financial collapse?

Oh, that's right -- none.

DeathRATS BLOCKED ALL THE BILLS AS THE ABOVE SHOWS.....STUPID ABNORMALS!

LOLOL

Dumbfuck, until 2097, they were the minority party and blocked nothing.

In fact, during W's first term, the Dems bent over backwards to support the Republicans after 9/11. It was a time of bi-partisanship cooperation because if you weren't supporting the government, you were aiding and abetting terrorism.