Obama tries to screw up banking next

[CMike]

Okay dokey sport. We had two choices. How do you suspect "can't crash enough planes" McCain would have handled the mess Obama was handed? Would you have just let the whole financial sector completely tank? What shape do you guess we would be in with all business loans completely stopped? How would you see the job market with US automakers completely out of business along with the network of manufacturers and suppliers? If that is the world you were hoping for then piss on you and yours you filthy maggot.

I see there's a reason I have you on ignore that goes beyond your second grade anti Semitism.
McCain at least would not have introduced a health care bill and climate change bill that have thrown uncertainty and doubt into the marketplace. A lot of his programs weren't a whole lot different than Obama's, which is why I voted for him reluctantly.
If you count Toyota, Nissan, Mercedes, and BMW as "US automakers" then there was never any danger of them going out of business. and they employ plenty of Americans.
As it is, we were promised that a bankruptcy by GM and Chrysler would be the end of the world as we know it. It happened and it wasn't.
But it wasn't a real bankruptcy. In real bankruptcies contracts get abrogated. In this one the bond holders got screwed and the unions got rewarded. GM and Chrysler will be in exactly the same place in a few years because their "bankruptcies" didnt fix what the problem was.
If non bank financial institutions like GMAC had been allowed to fold we would have had a more severe and much shorter recession. We would have been out of it now, with a lot less gov't debt.

Typical.....you just can't help yourself can you. If I was being ignored then why do you respond? You as many of your kind do..speak with a forked toungue.

I've kept it no secret that I have disliked most of those of the Jewish faith that have crossed my path. I was not pre disposed towards this attitude. It was planted and reinforced by your people by direct contact. I have never read nor sought out anti semetic information. All of my belief and information on the subject has come first hand.

Actually I was in my mid twenties when I discovered how worthless a group of people as exist on this planet are the majority of Jews. Previous to that I had many jewish friends and found them trustworthy and congenial.

Then, as I have revealed before, I traveled to the east coast living in Pompano Beach Florida for about 5 years. Much of the East coast is infected with the rudest humans I have ever seen anywhere. They put Israel above this country which shelters these vermin from having to deal with the hatred most peoples of the world deservedly feel towards these purveyors of apartheid and blatant bigotry towards non jews. Most of the problems enjoyed by the people in the mid east could have and should have been handled with diplomacy and humility considering how Israel came into existance in the first place. But sadly you and your kind are not apprciative of the gift provided by the victors of WWII and certainly not good neighbors amidst those of whos land was stolen on your behalf. You are vultures and gouls.

I hope Iran goes nuke and Israel does something even more ignorant than thier past ignorant behavior and Iran turns Tel Aviv into glass beads. Then there will be one less excuse for the treachery against the USA you are so inclined to gravitate to.

As to the OP you don't care about any truth or genuine progress towards solving our countries problems so if you want to just discuss one of the festering sores that ooze pestlance on any real effort to right our ship...we can discuss the treachery of the majority of Jews and the attitudes of those that resent it.

 

[The Rabbi]

Rabbi, cut me some slack. I said oneof the worst. The bank failure rates of the last two years back up my assertion. Fraud is a well established term and any banker who knowingly made a loan to someone without confirmed income or other required information should be sent to court. I clearly stated enforcement was more of an issue than regulation. Regulations are meaningless without enforcement.

And yet pawn shops make loans with virtually no documentation all the time. There is nothing inherently wrong with loans that are no-doc and the like.
While there was undoubtedly fraud, it was largely committed by borrowers. Yes, some brokers did too. But this crisis didnt come about because someone bogused an appraisal or a W2. It came about because the incentive to make real estate loans was enormous, leading to lower and lower quality loans.

Comparing pawn shop loans to home loans??? Fraud committed by the borrowers? They forged W-2s, gave bogus work numbers and faked the calls to their employers? They hid their debts? The greed was on the part of the loan officers, not the borrowers. Many of these borrowers were first-timers. Due diligence on the part of the loan originators should have weeded out the poor loans. Greed led to fraud which begot foreclosure.

A pawn loan is a loan. A credit card is a loan. A mortgage is a loan. At the end of the day there isn't a lot of difference.
Yes, there was some fraud in making the loans. that fraud came from both borrowers and originators (the underwriters are the ones to catch it, not the originators). But the amount of fraudulent loans like that pales in comparison to ones that were originated, documented, and closed in full accordance with law and the relevant programs. If you could have eliminated every fraudulent loan we would still have a crisis.