Barney Frank Says Race a Factor in Subprime Blame Game

@jpv who is the real john mccain? He's the guy who supported Bush's policies 90% of the time, refuses to lose the "War on Terror" which has cost us hundreds of billions and will give the wealthiest Americans which make up 1% of the population HUGE tax cuts while giving the hard working middle class meager tax cuts. The middle class make up more than 50% of this country. Under his new tax proposal, the middle class will have to cut back on spending as debts increase and prices rise on everything from food to heat. For you mccain supporters; think about this for a minute. The middle class are responsible for the pay check of the entire country - not the Govt. If the Govt is hostile to the middle class, the middle class will not be able to spend money on products/services from businesses or on trying to create a new business themselves. The middle class is where money is spent which creates demand which allows businesses to exist in the first place - not business owners who only care about their bottom line.

If the middle class stopped spending its money completely, the economy would collapse. If the middle class did a run on the banks and pulled out all their money, the economy would collapse.

If you as a business decide to fire employees instead of finding other areas to cut back or taking a pay cut yourself from that $250,000 a year you are earning, then you will be hurting the economy in the short term but the economy will survive in the long term. If you punish your own business so that you can continue to pay yourself $250,000 a year, then most likely your products and customer service will reduce in quality and a competitor who's willing to sacrifice more of his profits to beat you will put you out of business and takeover your market, which will hurt the economy in the short term but the economy will survive in the long term.

Don't like it? Well then stop running your business, I'm sure there's someone else out there who is more than happy to take your place.

Economist support Obamoron. Huh?

I wonder if these are the same "economists that support dims in general?

Shall we see what a GREAT job our democrat leadership has done for us since they took control of congress during the midterm?

GAS Prices 11/06 $2.22/gallon
GAS Prices September 29, 2008: $3.89/Gallon

DOW 10/06 11,900
DOW September 29, 2008: 10,365.45

NASDAQ 11/06 2,550
NASDAQ September 29, 2008: 1983.73

Consumer Price Index, 11/06 197.6
Consumer Price Index, September 29, 2008: 219

Dollar exchange with Euro Nov - 06 8.823
Dollar exchange with Euro, Sept. 29, 2008: .695
Two important foot notes here –
1) Each of these indicators was at record highs when the libs took over.
2) Note mentioned here are
a. Unemployment skyrocketing upward at the same time when it had average better than under St. Clinton
b. Foreclosures nearly tripling in the same period
c. Inflation up 20-30%

YEAH BABY THAT’S CHANGE WE CAN BELIEVE IN!!!!!!!!!!!!!!!!!!!!

Yeah folks, that's right - these ignorant clowns have virtually destroyed every segment of our financial markets single handedly so let's show how smart we are an elect one of the a-holes president.

WHO SAYS THE AVERAGE IQ IN AMERICA IS 100 -
(Well, if you factor in the avg IQ of a liberal is about 60, then it makes sense.)

From that last article:

Eighty per cent of respondents [=members of the prestigious National Bureau of Economic Research (NBER)] and no fewer than 71% of those who do not cleave to either main party say Mr Obama has a better grasp of economics. Even among Republicans Mr Obama has the edge: 46% versus 23% say Mr Obama has the better grasp of the subject. “I take McCain’s word on this one,” comments James Harrigan at the University of Virginia, a reference to Mr McCain’s infamous confession that he does not know as much about economics as he should. In fairness, Mr McCain’s lower grade may in part reflect greater candour about his weaknesses. Mr Obama’s more tightly managed image leaves fewer opportunities for such unvarnished introspection.

JPV, also this one:

Top Economists Overwhelmingly Favor Obama Plan: 80% Say He Has Better Grasp of Economics

@Fed Up: "Barney Frank is playing the race card."

No Fed Up, this is called Straight Talk. Blaming the CRA is not only false, it is racist because the benefactors of the CRA were primarily blacks and latinos. We all know who you are blaming here.

CRA worked perfect for more than 3 decades. Predatory lenders discovered subprimes could be turned into a very profitable market by securitizing the risks. They added ARM's to this volatile mix which allowed people to treat their own house as a virtual ATM-machine and now everybody has to bail these lenders out.

to Polderboy:

First, I don't believe your % quote and you didn't give me anything to go on to prove your point. Second, I don't care how many economists support obama - - I'm warning you that obama's tax plan will hurt my small business. I'm also warning you that you may lose your job over it. It's not a threat - it's a fact. His plan is exactly like the 1929 tax plan...look it up. I got my tax numbers straight from obama's website and compared it to my current tax burden. I will be forced to lay off 2 people if he get's to the WH and that pisses me off. Unemployment will go to an all time high with obama in office.

Yeah, Experience.

Abraham Lincoln did such a lousy job as President.
George W. Bush at least had a wealth of experience.

Thank you for the laughs.

Mccain gonna git r dun tonight

Mccain gonna git r dun tonight

In the Ring: "McCain is far from perfect and most Republicans can a least admit this."

Bwahahahahaha

JPV: 66% of Economists support Obama

Barney & Friends Starring:

Nancy Pelosi-she's really good at making friends
Harry Reid-he's learning how to share
Barack Obama-he's learning how to tell the truth
Chris Dodd-he's learning how to count money
Barney-he's learning how to take responsiblity for his own actions.

Next episode--They all learn how to fill out job applications using crayons!

Barney Frank is the smartest in Congress concerning financial policies. When you you wake up and realize that????

Or is it just that that the business policies of your benefactors could not possibly have caused any problems!

McCain is far from perfect and most Republicans can a least admit this. There is no question that these are trying times for all of us. But to say that Obama can jump in and solve these nations problems without any real level of experience is pretty frightening. You democrats keep drawing lines in the sand. Be careful how deep you draw that line. This divisiveness resembles 1861 when the south secedes. Listen to others and get off your soap box. 2 ears 1 mouth.

who is the real barack obama?? He's the guy who's proposing to bring the US economy to its knees by taxing the crap out of the hard working small businesses like me. I have 35 people working with me today. Under his new tax proposal, I will have to lay off 2 people just to pay for his irresponsible spending habits. For you obama supporters; think about this for a minute. Businesses are responsible for your pay check - not the Govt. If the Govt is hostile to businesses, businesses will not be able to reinvest in their business and hire people. Business is where jobs are created - not fancy talking politicians.

Frank the Robber is attempting to deflect attention from his conflict of interest problems when he and his boyfriend hampered efforts to increase regulation on Fannie Mae and Freddie Mac.....the boyfriend was making too much money and Frank had the power to protect him.

The gist of this is that Democrats in power actually CREATED and ENCOURAGED irresponsible and unregulated subprime lending and they now want to pass blame onto the GOP and bury it in race-coated blame....how SLIMY and RACIST is that?

Franks is a mentally challenged weasel. He has the mental capacity of an 8 year old. I think it's really nice that Massachusetts did not discriminate against his mental deficiency, but play time is over and we are actually in an economic crisis now and they need to send Barney back to the Fernald State school in Mass. and elect someone that is honest and knows what they are doing.

Which legislative office does "Cindy" hold?

Sandy: *Everybody* with a High Credit Rating gets "sweetheart deals" from mortgage lenders.

The higher the Credit Rating, the lesser the risk of that person not living up to his or her obligations.

Financial institutions LOVE doing business with people with High Credit Ratings.

Want to guess the sweetheart deals Cindy is getting from such institutions?

Hey, the Republicans never said "low-income" or "poor" or "black". That was Barney Frank. The Republicans said part of the problem was the "expansion of affordable housing", i.e., sub-prime mortgages.
Sheesh guys, take off the bias glasses and just read.