forums : General Discussion

Barack Obama & Friends Caused U.S. Economic Crisis?

I know most will immediately dismiss this as biased reporting since it came from Hannity's America, but if all you're watching is CBS News and the Daily Show it's only fair to balance your perspective by watching this with an open mind:

http://www.youtube.com/watch?v=RbkEAR2GgiA


Obama campaign tries to downplay 'supposed' connections between their candidate and ACORN:

http://www.marketwatch.com/news/story/rnc-obama--acorn-fact/story.aspx?guid={29569FA1-136D-4B95-9D51-4EF9E87ED547}&dist=hppr

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

To balance that out here's a link to factcheck. Their take on the matter is a bit different but who knows the truth!

http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

I know most will immediately dismiss this as biased reporting since it came from Hannity's America, but if all you're watching is CBS News and the Daily Show it's only fair to balance your perspective by watching this with an open mind:
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wait i don't understand why do i need to watch this to have an open mind because i watch The Daily Show??? I don't think in order to be open minded about music i need to listen to country to counter balance my like for hip hop...or do i?

anyways i do dismiss it (u can find more credible peeps on the right than Hannity), i like the Daily Show (for which McCain has appeared on more than any Senator)...didn't know CBS News was 'left leaning' which i am assuming u are assuming (i mean they ran the Rev. Wright video to the ground when it was the hot thing/scandal just like they run the horrible interview of Palin to the ground for ratings)...and no it is not 'only fair' to balance my perspective with this, because Hannity has zero credibility with me.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

From FACTCHECK

But saying that Democrats killed the 2005 bill "while Mr. Obama was notably silent" oversimplifies things considerably. The bill made it out of committee in the Senate but was never brought up for consideration. At that time, Republicans had a majority in the Senate and controlled the agenda. Democrats never got the chance to vote against it or to mount a filibuster to block it.

-------------------------------------------------

I doubt personally the entire financial crisis was caused by one bill being passed or not being passed or by one person. To use FACTCHECK it 'oversimplifies' the point...and i think while it is important to know how we got in this mess, te blame is enough to go around, but it is about how to get out. I will say though that i think the push for deregulation and business 'lassiez faire' was a big cause (and this coming from a former "free market capitalist" thinking person).

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

wait i don't understand why do i need to watch this to have an open mind

i never said that.

anyways i do dismiss it (u can find more credible peeps on the right than Hannity)

you think hannity was sitting there spouting off lies in this clip? doubtful. i find it ridiculous you deem a comedic entertainer (jon stewart) more credible than a political analyst.

didn't know CBS News was 'left leaning'

katie couric's sister was a democratic senator. just watching her interview palin and mccain you can tell she hates them

[ unifire - 5 Oct 2008 23:38 ]

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

Katie Couric is a liberal activist. She has had Bill and Hillary Clinton at her house for a "sleepover". Since becoming co-host of NBCs Today in April 1991, Katie Couric has often used her perch to salute her liberal heroes (including Hillary Clinton and Jimmy Carter) or complain about "right-wing conservatives." In her years on Today, Shes lectured Charlton Heston about the need for gun control, championed the need for campaign finance "reform," and even touted the wonders of Frances nanny state.

http://www.youtube.com/watch?v=73Yx-RhHb4g

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

Hm even more evidence of Couric's liberal bias:

http://www.mediaresearch.org/projects/couric/welcome.asp

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

counter point:

http://keatingeconomics.com/

-dave

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

**********
According to unifire ...

Hm even more evidence of Couric's liberal bias:

http://www.mediaresearch.org/projects/couric/welcome.asp

**********



After you just posted something from Hannity's show lol..

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

Poor Katie Needs Gas Money

Co-host Matt Lauer: "Pain at the pump. Gas prices are going sky high. I paid $2.94 a gallon over the weekend to fill up the car."

Co-host Katie Couric: "It’s ridiculous. I had to take out a loan to fill up my minivan. It’s crazy."

— Exchange at the top of NBC’s Today, August 15, 2005. Couric makes about $15,000,000 a year.

How does this exchange make Katie bias???? She very well could be a democrat, but what does this exchange have to do with liberal views. I guess everyone in America is biased, or ridiculously biased; because I dont know anyone who thinks that gas prices are low.

If anything this exchange show Katies a conservative and not a liberal.
*****************
Hm even more evidence of Couric's liberal bias:

http://www.mediaresearch.org/projects/couric/welcome.asp

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

The Media Research Center (MRC) is a conservative[1][2] content analysis organization based in Alexandria, Virginia, founded in 1987 by L. Brent Bozell III. Its stated mission, according to its website, is "to bring balance and responsibility to the news media",[1] and the MRC catalogs and reports on what it asserts to be widespread liberal media bias in the United States press.
The MRC has received financial support from several foundations, including the Bradley, Scaife, Olin, Castle Rock, Carthage and JM foundations.[3]



http://en.wikipedia.org/wiki/Media_Research_Center

more biased bs.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

why are you guys even responding?...











...

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

this guy "unifire" is a f**king loser. stop wasting your time fighting with a sheep when you could be positive and spreading the good word and getting people to learn the true facts and registering kids to vote. i read these forums on the daily and am flabbergasted by this kids pov. it makes me sick. and to fight with a bunch of liberals? your kidding me right?
UNIFIRE: you live in la? your in your 20's? your a repooplican??? huhhh. what a waste.... (ps.. your SOOO ugly)

(my only negative post ever. done)

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

PARTICIPATE:

in national ignore pete week


http://junglescene.com/forums/topic-137-5063-national_ignore_pete_week___.html



its time for change. and some hope....defiantly hope.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

i love aero's idea:

well heck guys its kind of hard to prove him wrong so lets just ignore him and hope he goes away.

to think i thought you a respectable person aero, you surprise me.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

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According to step_correct ...

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According to unifire ...

Hm even more evidence of Couric's liberal bias:

http://www.mediaresearch.org/projects/couric/welcome.asp

**********



After you just posted something from Hannity's show lol..
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I prefaced this thread by acknowledging Hannity's bias, did you miss that? Couric is one side of the coin, Hannity is the other. Yes. I'm saying check them both out. Don't you find it funny 2 people deeply involved in Fannie Mae and Freddie Mac are Team Barack? And the amount of political contributions coming from them to Obama?

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

Nevermind, everybody just pay attention to the good stuff regarding Obama and ignore the negative and then when he's president and the country goes to s**t pat yourself on the back! Good job team.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

Unifire you have got to be kidding me. You obviously don't understand the fundamental issue that causes this economic crisis. There are 2 major economic theories that have been at odds. The Republicans and Conservatives are for privatization and deregulation and Democrats and Liberals are for strongly regulated socialization of certain institutions. The republicans have been trying to implement their "free market" approach for decades. Reagan was a big proponent of this. You know who else has been McCain. McCain's head financial adviser Phil Gram has also played a large roll in the deregulation of the banking and mortgage industries. Sadly under the Bush/Cheney administration and under a Republican controlled congress these crooks were able to finally implement this theory of deregulation and privatization and now we are seeing the disastrous results. Hannity lies on a daily maybe even min by minute basis so using him as a source is just plain stupid. Your grasp of this issue seriously lacks understanding of the basic principals that are key to the working of the United States economy. Furthermore this conservative view also known as "trickle down economics" is completely flawed and only works on the behalf of wealthy individuals that pretend to hate socialism until they are at risk of loosing there own money so they want to socials their losses. To put it plainly they want to privatize profit and socialize loss. Which boils down to f**king over the tax payers on multiple levels. Maybe take an econ class or do some research before making such stupid claims and quoting Fake(FOX) News.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

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According to ced ...

Furthermore this conservative view also known as "trickle down economics" is completely flawed and only works on the behalf of wealthy individuals that pretend to hate socialism until they are at risk of loosing there own money so they want to socials their losses.
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So you think its better to give working class people little bits of money rather than give businesses tax breaks? You really think that's a good idea during a recession?

What exactly in this video is Hannity lying about? Please elaborate.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

I think its safe to say not 1 person has watched this video.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

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According to eecue ...

counter point:

http://keatingeconomics.com/

-dave
**********

So whats your point Dave? That its okay that Obama's shady because so is McCain?

After a lengthy investigation, the Senate Ethics Committee determined in 1991 that Alan Cranston, Dennis DeConcini, and Donald Riegle (Democrats) had substantially and improperly interfered with the FHLBB in its investigation of Lincoln Savings, with Cranston receiving a formal reprimand. Senators John Glenn and John McCain were cleared of having acted improperly but were criticized for having exercised "poor judgment".

http://en.wikipedia.org/wiki/Keating_Five

[ unifire - 6 Oct 2008 12:43 ]

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

re: Keating Five again....

The [Senate Ethics Committee's] report also said that McCain's "actions were not improper nor attended with gross negligence and did not reach the level of requiring institutional action against him....Senator McCain has violated no law of the United States or specific Rule of the United States Senate."

http://en.wikipedia.org/wiki/Keating_Five

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

"On October 6, 2008, the Keating Five scandal, its possible parallel to the subprime mortgage crisis and liquidity crisis of September 2008, and specifically the role in the scandal of Republican presidential nominee McCain, were reintroduced into public political discourse by the campaign of his Democratic opponent, Barack Obama, through a documentary entitled Keating Economics.[61]. This introduction occurred after Republican vice presidential nominee Sarah Palin re-introduced the controversy surrounding the alleged association between professor/former militant Bill Ayers and Democratic presidential nominee Barack Obama."

http://en.wikipedia.org/wiki/Keating_Five

BIG SURPRISE LOL!!

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

why do you feel the need to defend mccain? what has he done for you? how do you identify with him or feel like he's on your side or has anything in common with you or for helping you? whats your motivation?

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

lets stay on topic we're talking about obama

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

er wait I'm talking about Obama, everybody is else is ignoring the issue because they are afraid it will affect their devotion to the man.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

dude, if you want me to start a thread called "why unifire supports and defends the republican party and its presidential candidate" i will- but i dont think you do, because there apparently wouldnt BE any reasons according to your blatant side-step above.
pathetic. grow a pair and back up your beliefs, look whos a blind sheep now.

[ emu - 6 Oct 2008 13:12 ]

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

Yes I do believe in putting money in the hands of the people. That was how we got out of the great depression! When people have spending money that they can put back into the economy that is what will stimulate it. If people can pay their mortgages that is what will solidify the market. Using our tax dollars to bail out a bunch of rich f**ks that use offshore accounts to get out of paying taxes, use immigrant workers or out sourcing of jobs to make their fat asses richer and we should hope that they will throw us a bone. Does that make sense to you?

Oh yeah forgot to mention that McCain's campaign manager was lobbying for FreddyMac and was getting paid by them up until a few weeks ago. In fact most of his campaign is run by lobbyists. His voting record alone speaks for itself.

Also if you think CBS is liberal than you are trippin dude! They put out documentaries that totally distort the truth to make Republicans look better.

Everything Hannity does is dishonest! He is saying that someone Obama got advise from was connected to these financial institutions when McCain's campaign is being run by these people.
Yet he doesn't mention that. Yeah that seems pretty fair and balanced.

If it was up to McCain then our healthcare would be gambled on by putting it into the stock market. What would people do in this situation when the stock market is plummeting maybe just put off there health problems until the market goes up?

McCain has received socialized healthcare his whole life yet he want to deny it to everyone else?

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

WOW..
Politics pulling people apart.
We cant get anything good or worthwhile accomplished if we attack ourselves within our own communities.
Having an opinion is one thing, but being a dick about it is another.
Cant we all just get abong?

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

hahahahhahahahhahaha
hahahhahahahahha
hahahahhahahahahhahahhahahhahahhahahah
ahhahahahahhahahahhhhhahahahahhahhahahahhahahaahhahahhahah
ahjahhahahahahhahahahhahahahahahahha
hahhaha

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

Sarah Palin translated from reptillian:

http://pa.lindro.me?w=4366

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

fundamental differences, "my friend"..



**********
According to unifire ...

So you think its better to give working class people little bits of money rather than give businesses tax breaks? You really think that's a good idea during a recession?

**********

It's all in the translation.

Correct me if im wrong, but it seems like you subscribe to theory that giving businesses tax breaks will create job openings and lower prices (in a nutshell)?

Here's my take. That's been happening.. Bush gave those tax cuts out a while back, so I'm not really sure that's the right way.

Giving money to people so they can pay their bills (which in turn is revenue for businesses), buy new things (stimulates the economy), and even repair broken things (again, dumping money back into businesses), etc..

So it comes down to.. do you really think businesses/corporations aren't going to take that money and just apply it to higher bonuses, wages, and not into creating new openings which is, if you think about it, a big gamble because people dont have money to support these new ventures.

Here's an example of what I just said and why I think the opposite way on this:

ABC: Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today. …AIG documents obtained by Waxman’s investigators show the company paid more than $440,000 for the retreat, including nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.

“Less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation,” said Waxman as he prepared to question AIG executives.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

^^^ exactly

Two things happen when people win money in Vegas (which is basically the same as the $600 government checks we got a while back).

#1 They throw that s**t back into the slots, a restaurant, or new pair of shoes which is why businesses in vegas do well when in close proximity to the people who are winning the money. If you send jackpots all over the country all businesses will profit in this way even though its obvious people can't keep money in their hands long enough to count it.

#2 They put it in the bank or pay their bills/debt. This is what I did with my check. This in turn helps out banks who are having a problem with liquidity or who's faulty mortgages are dragging them down. If people keep up on their bills we are all good but if they default we are f**ked.

If businesses do well stocks go up. If banks stay liquid they don't fail.

When money goes back to the financial institutions during a recession they stockpile while continuing to lay people off. The absolutely ludicris thing is we are seeing the bigwigs blow that s**t like people in vegas. So wrong. St. Regis doesn't need our tax dollars, BFE Oklahoma does.


I think the first thing they should do is hire (aka create jobs) a bunch of appraisers to go out and re-mortgage people's homes. Better to keep money coming in at a lower total amount than nothing at all. The only way this bubble popping is going to reset itself is if a bunch of people lose their homes and people buy them up at the lower cost they are worth now. The prices were outrageously inflated and are now 20-30% lower. Instead of letting the market settle itself they should speed up that process by zeroing it out with fed money. I have less of a problem paying for the difference in price out of my tax dollars than I do the entire cost of an inflated mortgage.





Sheesh. I don't know why I am typing so much this morning. haha Ok ... time to do some work.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

damn... get em pete!!!!

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

LOL...

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

awwwwwwwwwwwwwww....................

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

http://firstread.msnbc.msn.com/archive/2008/10/09/1520155.aspx

just thought this was interesting.....

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

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According to mainframe ...

Giving money to people so they can pay their bills (which in turn is revenue for businesses), buy new things (stimulates the economy), and even repair broken things (again, dumping money back into businesses), etc..

So it comes down to.. do you really think businesses/corporations aren't going to take that money and just apply it to higher bonuses, wages, and not into creating new openings which is, if you think about it, a big gamble because people dont have money to support these new ventures.
**********

If businesses make more money they can hire more people, increase wages and buy more business equipment which in turn stimulates the economy. You think every business is corrupt? The majority of corporations in this country are small companies that will take whatever money they get from tax breaks and use it to make the future of their business better. Aka the future of America. Thinking that all businesses are shady and do things like outsourcing jobs (as was brought up earlier in this thread) is a completely naive train of thought. Democratic politicians push for giving tax breaks to the middle class to get into political office, not to stimulate the economy. Don't believe the hype, Obama will not be able to fulfill his agenda. He's already admitted he can't which means he won't at all. When he ran in Illinois for state senate he promised tax breaks and never even proposed a bill to do so. Don't believe his washed-out rhetoric, look at his record.

[ hipnorganix - 12 Oct 2008 19:45 ]

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

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According to eecue ...

more biased bs.
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The 'donate now' button on http://keatingeconomics.com/ points to barackobama.com as do the downloads.

How can you call the Hannity show biased while you're linking to barackobama.com? It doesn't get more biased than that! At least Hannity has Alan Colmes on his show, a liberal who defends Barack.

Fact of the matter is McCain is way more of a moderate than Obama and that's what this country needs. Obama is a moreso a soldier for liberal America whereas McCain is a soldier for America as a whole. If you disagree with that statement, just look at their records.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

um it says at the bottom that it's sponsored by the obama campaign.

and wait, are you trying to say the the keating 5 didn't happen?

fail.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

No i'm saying the source of that production is biased.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

you think? it's an advert for the obama campaign. hello.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

Well I'm glad you can admit your argument is biased.

Re: Barack Obama & Friends Caused U.S. Economic Crisis?

FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005

The United States Senate

May 25, 2006
Section 16

Words by John McCain:

"Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.
Quick Info
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005
Last Action: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Status: Dead

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation."

http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190#sMonofilemx003Ammx002Fmmx002Fmmx002Fmhomemx002Fmgovtrackmx002Fmdatamx002Fmusmx002Fm109mx002Fmcrmx002Fms20060525-16.xmlElementm0m0m0m