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Maybe, but someone STUPID enough to say that the Bush Housung Crash of Dec 2007 was caused by the Dodd-Frank bill that became law in July 2010 does not have a "lick of common sense."when someone else pays something for you------its free to you.
you are really making a fool of yourself on this one RW.
Telling more lies does not excuse your original lie
Show me in the video where she says anything about others paying or anything being free
Here is the title of your bullshit video "Obama Is Going To Pay For My Gas And Mortgage!!! "
Show where she said anything close to that you fucking liar
first, its not MY video. But anyone with a lick of common sense knows what the woman meant. I guess that leaves you out, we understand why you don't get it.
Let me get this straight, Dodd-Frank, which was signed into law in 2010 caused the Bush Housing Crash of 2007.I have never known anyone qualifying for a mortgage who doesn't have a "job"...have you?
What the fuck do you think Dodd/Frank was all about? Giving mortgages to people who could not qualify for them---------because it was only "fair" that everyone own a house-----------------------more democrat liberal stupidity.
And YOU have the gall to call anyone STUPID!!!!
It was Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) that changed the rules to allow no downpayment loans for more than the house was worth to people with bad credit who could not keep up with the payments and who were at least 20% below the standard of living for the neighborhood they were buying into.
The ADDI was passed in Dec 2003 and everything in housing started to go bad in 2004. Even your MessiahRushie admits 2004 was the turning point for the Bush Housing Crash.
July 7,2010
BREAK TRANSCRIPT
RUSH: To illustrate my point even further: "Subprime mortgages accounted for 9 percent of all mortgage originations from 1996 through 2004."
But that 9% became 21% from 2004 to 2006, 21% of all mortgages were subprime. Twenty-one percent of all mortgages were essentially money given away to people because they were loans made to people that everybody knew going in would never pay them back.
And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, which was at the time one-fifth of the US home loan market.
As an independent voter, I couldn't vote republican due to its swing so far to the right that its stance has become absurd and a magnet for the ultra-religious, the racists, the people with low IQ's and those with a low education. I cannot bring myself to vote republican again until Theodore Roosevelt (a progressive republican) is re-incarnated.
I didn't! You apparently didn't think your MessiahRushie had exaggerated it enough, so YOU jacked billions to trillions.Let me get this straight, Dodd-Frank, which was signed into law in 2010 caused the Bush Housing Crash of 2007.What the fuck do you think Dodd/Frank was all about? Giving mortgages to people who could not qualify for them---------because it was only "fair" that everyone own a house-----------------------more democrat liberal stupidity.
And YOU have the gall to call anyone STUPID!!!!
It was Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) that changed the rules to allow no downpayment loans for more than the house was worth to people with bad credit who could not keep up with the payments and who were at least 20% below the standard of living for the neighborhood they were buying into.
The ADDI was passed in Dec 2003 and everything in housing started to go bad in 2004. Even your MessiahRushie admits 2004 was the turning point for the Bush Housing Crash.
July 7,2010
BREAK TRANSCRIPT
RUSH: To illustrate my point even further: "Subprime mortgages accounted for 9 percent of all mortgage originations from 1996 through 2004."
But that 9% became 21% from 2004 to 2006, 21% of all mortgages were subprime. Twenty-one percent of all mortgages were essentially money given away to people because they were loans made to people that everybody knew going in would never pay them back.
And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, which was at the time one-fifth of the US home loan market.
The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater.
FY2008 - $10,000,000
FY2007 - $24,750,000
FY2006 - $24,750,000
FY2005 - $49,600,000
FY2004 - $86,933,113
FY2003 - $74,457,526
Total about $270,490,639 allocated.
If the maximum was $10,000 that meant there were at the most 27,049 homes that would purchased at average price of $166,000.
This would mean a maximum of $4.5 billion in bad loans if they all defaulted ALL BECAUSE of ADDI assistance.
So where did you get "$600,000,000,000,000 in loans. ($600 trillion $600,000 X 1 billion)
American Dream Downpayment Initiative - Affordable Housing - CPD - HUD
The Republicans ran the economy into the gutter and are now mad at Obama and the Democrats for not fixing it fast enough.
The modern-day Republican Party is THEE biggest joke of the last 100 years.
damn, you are as dumb as RW. maybe you two can date.
I didn't! You apparently didn't think your MessiahRushie had exaggerated it enough, so YOU jacked billions to trillions.Let me get this straight, Dodd-Frank, which was signed into law in 2010 caused the Bush Housing Crash of 2007.
And YOU have the gall to call anyone STUPID!!!!
It was Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) that changed the rules to allow no downpayment loans for more than the house was worth to people with bad credit who could not keep up with the payments and who were at least 20% below the standard of living for the neighborhood they were buying into.
The ADDI was passed in Dec 2003 and everything in housing started to go bad in 2004. Even your MessiahRushie admits 2004 was the turning point for the Bush Housing Crash.
July 7,2010
BREAK TRANSCRIPT
RUSH: To illustrate my point even further: "Subprime mortgages accounted for 9 percent of all mortgage originations from 1996 through 2004."
But that 9% became 21% from 2004 to 2006, 21% of all mortgages were subprime. Twenty-one percent of all mortgages were essentially money given away to people because they were loans made to people that everybody knew going in would never pay them back.
And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, which was at the time one-fifth of the US home loan market.
The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater.
FY2008 - $10,000,000
FY2007 - $24,750,000
FY2006 - $24,750,000
FY2005 - $49,600,000
FY2004 - $86,933,113
FY2003 - $74,457,526
Total about $270,490,639 allocated.
If the maximum was $10,000 that meant there were at the most 27,049 homes that would purchased at average price of $166,000.
This would mean a maximum of $4.5 billion in bad loans if they all defaulted ALL BECAUSE of ADDI assistance.
So where did you get "$600,000,000,000,000 in loans. ($600 trillion $600,000 X 1 billion)
American Dream Downpayment Initiative - Affordable Housing - CPD - HUD
Bush's own estimate of the number of unqualified borrowers helped by his legislation was 150,000 ANNUALLY.
USATODAY.com - Bush seeks to increase minority homeownership
USATODAY.com - Bush seeks to increase minority homeownership
Bush seeks to increase minority homeownership
By Thomas A. Fogarty, USA TODAY
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.
In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.
Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.
By your calculations, a $10,000 max would make 27,049 the MINIMUM number of loans!I didn't! You apparently didn't think your MessiahRushie had exaggerated it enough, so YOU jacked billions to trillions.The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater.
FY2008 - $10,000,000
FY2007 - $24,750,000
FY2006 - $24,750,000
FY2005 - $49,600,000
FY2004 - $86,933,113
FY2003 - $74,457,526
Total about $270,490,639 allocated.
If the maximum was $10,000 that meant there were at the most 27,049 homes that would purchased at average price of $166,000.
This would mean a maximum of $4.5 billion in bad loans if they all defaulted ALL BECAUSE of ADDI assistance.
So where did you get "$600,000,000,000,000 in loans. ($600 trillion $600,000 X 1 billion)
American Dream Downpayment Initiative - Affordable Housing - CPD - HUD
Bush's own estimate of the number of unqualified borrowers helped by his legislation was 150,000 ANNUALLY.
USATODAY.com - Bush seeks to increase minority homeownership
USATODAY.com - Bush seeks to increase minority homeownership
Bush seeks to increase minority homeownership
By Thomas A. Fogarty, USA TODAY
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.
In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.
Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.
I was wrong. I'm sorry..
Rush did say: "And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, "
Democrats, Not Mortgage Holders, are Villains of the Subprime Crisis - The Rush Limbaugh Show
Rush was very very wrong to use that figure and I apologize.
Prove also AS I did with the links and the calculations where there were 150,000 first time mortgages coming from ADDI IF..
1) with the maximum home loan is $166,000 ($10,000 or 6% of loan) which would qualify for up to maximum of $10,000 per downpayment provided by ADDI
2) The maximum funded amount was $270,490,639
3) divided by $10,000 (MAXIMUM lent to the first time home buyer) ONLY 27,049 loans!
By your calculations, a $10,000 max would make 27,049 the MINIMUM number of loans!I didn't! You apparently didn't think your MessiahRushie had exaggerated it enough, so YOU jacked billions to trillions.
Bush's own estimate of the number of unqualified borrowers helped by his legislation was 150,000 ANNUALLY.
USATODAY.com - Bush seeks to increase minority homeownership
USATODAY.com - Bush seeks to increase minority homeownership
Bush seeks to increase minority homeownership
By Thomas A. Fogarty, USA TODAY
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.
In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.
Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.
I was wrong. I'm sorry..
Rush did say: "And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, "
Democrats, Not Mortgage Holders, are Villains of the Subprime Crisis - The Rush Limbaugh Show
Rush was very very wrong to use that figure and I apologize.
Prove also AS I did with the links and the calculations where there were 150,000 first time mortgages coming from ADDI IF..
1) with the maximum home loan is $166,000 ($10,000 or 6% of loan) which would qualify for up to maximum of $10,000 per downpayment provided by ADDI
2) The maximum funded amount was $270,490,639
3) divided by $10,000 (MAXIMUM lent to the first time home buyer) ONLY 27,049 loans!
Again, Bush gave the number 150,000 loans annually, and he should know since it was his program.
The last few comments though HAD little to do with the topic...
Majority of white voters voted for Obama JUST because they were afraid if they didn't they'd be labeled 'racist"!
These white voters had NOTHING to base a vote FOR Obama but the only thing they had was FEAR if they didn't they'd be racist!
So get back on topic here folks!
Obama was never qualified. Obama has shown his ineptness as we are on the brink of WWIII and when the US military at it's weakest!
Again, If you use the Max amount lent you get the minimum number of loans. And ADDI was just one of many programs.By your calculations, a $10,000 max would make 27,049 the MINIMUM number of loans!I was wrong. I'm sorry..
Rush did say: "And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, "
Democrats, Not Mortgage Holders, are Villains of the Subprime Crisis - The Rush Limbaugh Show
Rush was very very wrong to use that figure and I apologize.
Prove also AS I did with the links and the calculations where there were 150,000 first time mortgages coming from ADDI IF..
1) with the maximum home loan is $166,000 ($10,000 or 6% of loan) which would qualify for up to maximum of $10,000 per downpayment provided by ADDI
2) The maximum funded amount was $270,490,639
3) divided by $10,000 (MAXIMUM lent to the first time home buyer) ONLY 27,049 loans!
Again, Bush gave the number 150,000 loans annually, and he should know since it was his program.
NO you are wrong...
A) There was ONLY $270 million allocated:
The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater.
FY2008 - $10,000,000
FY2007 - $24,750,000
FY2006 - $24,750,000
FY2005 - $49,600,000
FY2004 - $86,933,113
FY2003 - $74,457,526
Total about $270,490,639 allocated.
American Dream Downpayment Initiative - Affordable Housing - CPD - HUD
The maximum loan was $10,000 per assistance or 6% of purchase price. 6% of $166,000 home is $10,000.
Divide $270 million by $10,000 is 27,049 number of loans TOTAL that can be using the ADDI of $270 million.
B) Your quote says"the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually,"
Where did BUSH ever say it would lead to 150,000 first time owners annually?
AND if Bush did he'd be wrong as Weicher was as the maximum according to the above exact math is 27,049 total loans using ADDI.
The last few comments though HAD little to do with the topic...
Majority of white voters voted for Obama JUST because they were afraid if they didn't they'd be labeled 'racist"!
These white voters had NOTHING to base a vote FOR Obama but the only thing they had was FEAR if they didn't they'd be racist!
The last few comments though HAD little to do with the topic...
Majority of white voters voted for Obama JUST because they were afraid if they didn't they'd be labeled 'racist"!
These white voters had NOTHING to base a vote FOR Obama but the only thing they had was FEAR if they didn't they'd be racist!
So get back on topic here folks!
Obama was never qualified. Obama has shown his ineptness as we are on the brink of WWIII and when the US military at it's weakest!
So, how would they be labeled racists then? Do people know how they voted? It's a secret ballot.
The last few comments though HAD little to do with the topic...
Majority of white voters voted for Obama JUST because they were afraid if they didn't they'd be labeled 'racist"!
These white voters had NOTHING to base a vote FOR Obama but the only thing they had was FEAR if they didn't they'd be racist!
So get back on topic here folks!
Obama was never qualified. Obama has shown his ineptness as we are on the brink of WWIII and when the US military at it's weakest!
So, how would they be labeled racists then? Do people know how they voted? It's a secret ballot.
BECAUSE I'm ACCUSED of being a "racist" as I am WHITE and didn't vote for OBAMA!
The MSM put that stigma on any white person that didn't vote for Obama did so because they hated blacks!
Anyone who was white voiced any opposition to Obama as I've constantly done is considered a racist because Obama is black!
And as I've said over and over the majority of white Obama voters never knew anything about OBAMA .. except he was black.
So the ONLY REASON they had to vote was because he was black.
If they didn't vote for him then they'd be considered racist and most of the ignorant white people that voted for Obama surely didn't want anyone much less the
MSM to think they were racists!
The last few comments though HAD little to do with the topic...
Majority of white voters voted for Obama JUST because they were afraid if they didn't they'd be labeled 'racist"!
These white voters had NOTHING to base a vote FOR Obama but the only thing they had was FEAR if they didn't they'd be racist!
So get back on topic here folks!
Obama was never qualified. Obama has shown his ineptness as we are on the brink of WWIII and when the US military at it's weakest!
So, how would they be labeled racists then? Do people know how they voted? It's a secret ballot.
BECAUSE I'm ACCUSED of being a "racist" as I am WHITE and didn't vote for OBAMA!
The MSM put that stigma on any white person that didn't vote for Obama did so because they hated blacks!
Anyone who was white voiced any opposition to Obama as I've constantly done is considered a racist because Obama is black!
And as I've said over and over the majority of white Obama voters never knew anything about OBAMA .. except he was black.
So the ONLY REASON they had to vote was because he was black.
If they didn't vote for him then they'd be considered racist and most of the ignorant white people that voted for Obama surely didn't want anyone much less the
MSM to think they were racists!
And as I've said over and over the majority of white Obama voters never knew anything about OBAMA .. except he was black.
Do you have any specific examples where you were accused of being a racist?
Should be interesting
Do you have any specific examples where you were accused of being a racist?
Should be interesting
All you have to do is disagree with JoeB on something and he'll call you a racist.
Whether the conversation is about race or not!
Do you have any specific examples where you were accused of being a racist?
Should be interesting
All you have to do is disagree with JoeB on something and he'll call you a racist.
Whether the conversation is about race or not!
.
Do you have any specific examples where you were accused of being a racist?
Should be interesting
All you have to do is disagree with JoeB on something and he'll call you a racist.
Whether the conversation is about race or not!
We speak of a poster who actually created a thread around which hand O'bama wipes his ass with. I don't think JoeB's help is needed here.
