Upside Down Mortgage

Posts Tagged ‘politics’

Subprime Regulation

Question: Is Bernie Frank a combinat. of economic success of AIG, the ethics of Enron and accountability of Ruth Madoff?

Michael Graham of Boston Herald calls Barney Frank an unmitigated disaster and asks whether Bernie Frank a combination of economic success of AIG, the ethics of Enron and accountability of Ruth Madoff.

The author points out that he sat on the regulation committee of Fannie while his partner was a senior exec there.

In 2003, he famously said that Freddie and Fannie were “not in a crisis,” that they were “fundamentally sound financially.” He repeated that expert testimony in 2005, all the while rejecting the argument that the taxpayers were responsible for Freddie and Fannie’s bills.

And in 2007, he actually proposed raising the caps on Fannie/Freddie’s portfolios - exposing taxpayers to even more risk - and then dumping the new money into (drum roll, please) even more subprime mortgages.

What's your take?

http://www.bostonherald.com/news/opinion/op_ed/view.bg?&articleid=1159543&format=&page=1&listingType=opi#articleFull

Answer: "Bernie Frank" is the epitome of today's politicians.

One doesn't know if one should cast a vote or throw a stone.

Part 1/2 Bird & fortune - Financial crisis - Silly Money, Nov 08

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Global Recession Subprime Crisis

Question: How does the global financial crisis happen?

Almost all the world has been suffering from the global financial crisis, my motherland China is no exception. There're hardly any countries could really avoid the bad effects of this crisis on their economy. The USA made the subprime lending crisis, then it spread from the USA to the Europe, then the whole world. I don't know much about economics. What factor did the USA make the crisis? How could it badly affect the global economy? Is it showing the sign of USA's recession and the rise of another power?

Answer: Globalization has taught us just how interconnected we all are, similar to cells in a human body. If you bump your leg, or your knee, the pain from this bump will be felt throughout the entire body. We as human beings are now in a similar situation whereby a crisis in the US is being felt all over the globe in seemingly every continent and country.

The blame for the crisis cannot simply be blamed on one country, or an individual, but what we have to realize is that our egoistic, appalling attitude towards each other, is the real reason for the crisis.

Our nature is exploitive of our fellow man as has been clearly demonstrated with the whole sub-prime mortgage fiasco. Lets face it sub-prime mortgage lenders were not thinking when they offered there "deals." How can we help our fellow man ?. What they were thinking was: How can we line our pockets ? and stuff our fellow man in the process! It is this attitude that is causing all of our problems and leading us into an abyss.

What humans now have to adopt is a nature that looks after it's fellow man and not one that exploits its fellow man.

Have a look at the follow links. They will explain what we need to do in order to invoke this change:

http://www.laitman.com/2008/10/instead-of-seeking-to-change-our-economic-systems-we-should-draw-the-upper-light-of-correction/

http://www.laitman.com/2008/10/humanity-is-one-integral-interconnected-organism/

Credit Crisis to Global Recession: Part 2

Clinton Subprime

Question: How Many African Americans Were "Suckered" into Sub-Prime Mortgages by Clinton's Man Rubin?

Robert Rubin was Clinton's Secretary of the Treasury.

Well, Rubin has been a very big wig at Citicorp for the past handful of years.

He was even Chairman of the compensation committee.

Citi signed up a LOT of African Americans for subprime mortgages.

These people have suffered greatly.

Why didn't Clinton's man protect these poor, innocent people?

(Rubin is now CEO of Citi)
I bet Rubin leaves Citic one day with $50 mil just like the guy who recently left Citi's top job. AND, Rubin was the one who determined that guy's pay package.

Answer: Matters worse Citicorp is tanking and in the process of a buy out by the liquid Saudi's. ABC News, last nite. When CLinton manipulated the Fed, padded numbers and blew the roof off revolving credit he again sold out the US. Well aware the time frame would be out of his reach after he left office. Yet in time for Hill to come in. In my opinion, nothing these people did was without future political gains. SO as we have Clinton running again IT IS a valid question. If Hillary quotes her experience in the White House as viable for her Presidency? SO we can disect it as long as we want. Bush is not running btw, just his party so bashing works both ways.
I am curious about the race issue here. Not too familiar yet I wish to learn more. I know these 40 to 60 yr arms that I saw my MOm the Realtor/Broker write sounded very strange! America is the worst offender of credit debt. Bill Clinton made it attractive to corporate to intice and then deflate. At whim or will. Knowing full well nearly zero read the fine lines when the carrots are so near.
CHeck out the CEO's who are quickly departing. Bailing out fast.
Or being removed. Clinton's have no love loss for them. Just see how many former associates have been investigated and remanded to Federal Prison.

How The Democrats Caused The Financial Crisis: Starring Bill Clinton's HUD Secretary Andrew Cuomo And Barack Obama; With Special Guest Appearances By Bill Clinton And Jimmy Carter