70 Replies to “Is There Nothing That Obama Can’t Do?”

  2. ummm….ummmm….
    Isn’t this the rationale that caused the housing bubble in the first place?

  4. @Doug
    Yes, yes it is. Is there any question yet whose side Obama is on? (Hint: It’s not America’s).

  5. This was what started this whole housing mess in the beggining like really? am i having deja vu here i rememeber not to long ago a housing crash and when delved into as to why it was bill clinton who forced the bank’s to start taking high risk loans/mortgages for “minorities” this bill was buried under dust in the 1980’s until bill the affirmative action loser blew the dust off of it in the mid nineties and cause what we have here today in the housing market it forced the bank’s to act stupidly , allowed the fat cat’s on wall street to get seven didget bonuses and no one was accountable ..all becasue the “minorities felt discriminated against…..i am perplexed to see this going on again so soon like are you serious?
    REALLY? O.M.F.G. (goodness

  7. A yes, the Racist Bank of America will give more loans to unworthy minority extortionists, backed by the enforcers in the Racist Obama administration.
    I am having a de ja vue.
    Get ready to go over another cliff, this one is higher. Flapping your arms won’t help.

  9. I guess the current recession isn’t quite deep enough. Obambam needs a true dust-bowl, soup-kitchen, hobos-riding-trains depression before he’ll be satisfied.

  10. Dr.D., hobos are getting tickets for eating the ducks in Brooklyn NY parks.
    Heard Limbaugh just now, his take and that of other Barry-watchers out there is, this whole debt ceiling thing is a huge victory for Barry, as it has gotten the entire issue off the election table. He now has a snowball’s chance, or so he thinks.
    Meanwhile, Holder announces this bank witch hunt. Interesting, given the federally bailed out state of many banks.
    Also interesting as it comes on the heels of the Gunwalker thing. Holder rushing to change the subject before somebody spills a chamberpot on Barry’s suit?
    Things that make you go hmmmmn….

  11. Obama is spending 30 percent more money a month than revenue coming in so he borrows it via upping the debt ceiling, thus it makes sense that he’d want the poor to spend money they don’t have to buy houses they can’t afford. Liberal Economics, if you are in debt keep buying and get further in debt and eventually everyone is broke.

  14. “Such efforts risk recreating the government-imposed lax underwriting that led to the housing boom and bust, critics fear.”
    Yah think tonto?
    I’m homeless, drug and alcohol addicted and I want to buy a 10 section farm with all the latest JD stuff. Where do I apply?

  15. When the state-dependent non-taxpaying government-induced underclass votes for their Party of Looters and Thugs, they expect loot. And the good Looters and Thugs deliver. Nothing to see here folks. This is Social Democracy in its purest form. Only “racists” would be against this kind of shakedown. This is Obama, his Chicago background, his job resume, his life skill.

  16. Bring on the ninja loans.
    No income, no jobs, apply!
    What could possibly go wrong?

  17. Economist Robert Wiedemer, who accurately predicted the 2006 housing and the 2009 debt crisis is predicting a 50% unemployment rate starting as soon as 2012 and the stock market could plummet 90% with 3 years of 100% annual inflation. The actual US unemployment rate is about 21% with blacks between 16-24 at 45%.

  18. This is welfare heaped on top of welfare. Obama is a true Robin Hood Socialist that wants to insure that there is no gap between productive citizens and leeches. The guy is totally dangerous and has been a total disaster since being elected.

  19. We are doomed! listening to Bill Good Show, Michael Smyth sitting in as host, this morning. Two brothers from the states discussing debt chrisis one for Obama one against. Host opens phone for callers to comment and every caller was against the republicans, cons and tea party.
    Conclusion B.C. will get Aadrian Dix “NDP” next premier at our PERIL>

  20. Fannie Mae and Freddy Mac, the insanity in the U.S. continues.
    Better get that pipeline to the west coast built ASAP!

  22. SYF beat me to it, but it’s worth repeating…
    What could possibly go wrong?
    A friend of mine here lost almost half his home value after 2008.
    Perhaps the only thing to do today in America is to sell your home and buy Gold, Silver and Copper. This policy (if implemented) should boost the price of housing in the short-term. Then the trick is to GTFO ASAP.

  23. Well now,could that be classed as Black-mail or just baiting the hook for the puce fish vote?

  24. A scene from Eric Holder’s house one morning at breakfast: Eric takes out the milk and gives it a sniff. “Hey, the milks gone bad!” he exclaims. “Well…maybe it’ll be OK tomorrow.” He puts the milk back in the fridge and ponders, “what if we just FORCE the banks to approve mortgages?”

  25. The left never wants the playing field to be fair, because if it is their ideas will fail.
    This basic philosophy spawns all manner of evil: affirmative action, forcing banks to loan money to high risk applicants, judicial activism, etc. etc. etc.

  26. Sorry, terrible grammar, just had to re-write my post:
    The left never wants the playing field to be fair, because if it were their ideas would fail.
    This basic philosophy spawns all manner of evil: affirmative action, the forcing of banks to loan money to high risk applicants, judicial activism, etc. etc. etc.

  29. We are doomed! listening to Bill Good Show, Michael Smyth sitting in as host, this morning. Two brothers from the states discussing debt chrisis one for Obama one against. Host opens phone for callers to comment and every caller was against the republicans, cons and tea party.
    Conclusion B.C. will get Aadrian Dix “NDP” next premier at our PERIL>
    Posted by: capt_bob at August 1, 2011 3:54 PM
    1. Regarding the left-leaning tilt of CKNW’s audience, at least on Good’s program, that’s the primary reason I stopped listening to NW a few years back. I now tune into AM 790 out of Bellingham. It carries Rush, Beck and Hannity (in that order) throughout the day.
    2. While she’s slightly too Liberal for my tastes, I’m quite certain Christie Clark will best Dix in an electoral contest. She’s a spark plug, with a decent political head on her shoulders. She will be a formidable opponent for Dix. IMO.

  30. You would think that they could come up with a whole new set of ways to screw everything up.
    But nope. Keeping to the old tried and true.

  32. I guess the current recession isn’t quite deep enough. Obambam needs a true dust-bowl, soup-kitchen, hobos-riding-trains depression before he’ll be satisfied.
    DrD – Bingo.
    That is exactly what he is up to. As I said on a couple of other threads, BHO’s narcissistic supply is guaranteed with each and every crisis’ he creates and then attempts to “save” the world from.
    I fear that high inflation resulting in famine is coming within 3 years if not much sooner. Brace yourself.

  33. There is a saying “Those who don’t learn from history are doomed to repeat it.” I always thought this would take 50-100 years atleast not less than five years. Maybe, and I really hate to think of this, but it is time for the military to take over like in the book and film Stormship Troopers. It is a sad day when this thought can be seen as a viable option.

  34. Some context:
    “However, the Justice Department is simply enforcing the law. The Equal Credit Opportunity Act prohibits creditors from rejecting applications “because of your race, color, religion, national origin…or because you receive public assistance.” What’s more, the ECOA requires creditors to “consider public assistance income the same way as other income.” IBD’s qualm appears to be with 35-year old anti-discrimination provisions enacted by Congress during the Ford administration, not with the Obama Justice Department…
    “Among high-income borrowers in 2006, African Americans were three times as likely as whites to pay higher prices for mortgages–32.1 percent compared to 10.5 percent. Hispanics were nearly as likely as African Americans to pay higher prices for their mortgages at 29.1 percent.”
    – mediamatters.org/blog/201107120028

  35. Actually there are more unemployed blacks in the US right now than during the great depression, they can thank Obama for that because no one is willing to invest in America under his reign of terror-including Americans.

  37. Hey I got an idea.
    Let’s take a bunch of those mortgages and put them together with a bunch of other mortgages, securitize them, sell interests in the securities and then trade those intersts between banks and hold them as the equal of cash or gold deposits!

  38. chesterfield – is the inability to repay a good enough reason to turn someone down for credit?
    How about prohibiting evaluations because they discriminate agains stupid people or those who didn’t study or prepare – like you.


  40. Cloward-Piven Paradise Now?
    “Although speculative, if the Cloward-Piven strategy is the basis of the left’s game plan, spearheaded by Alinsky devotee Barack Obama, it certainly explains the President’s inaction and detached attitude.
    “The greatest nation in the history of the world is teetering on the brink of a catastrophic economic crisis. America was pushed to this point by a rapidly-expanding national debt and a stressed-out entitlement system; in the center of this crisis is the President, who insists on expanding it even further, all in the name “fairness” and “social justice.”
    Me: I notice on the American Thinker home page there’s a piece about Obama’s “failed presidency”. Clueless. This, so far, is an extremely SUCCESSFUL presidency if you understand what Obama’s objectives are.

  41. Dems: Talking out of both sides of their mouths. So, what else is new?
    Cut the deficit but insist that banks approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination …
    Stoo – pid.
    Like Doug said, these kinds of mortgages are one of the reasons the U.S. is in the mess it’s in.
    Fact is stranger than fiction. Who could make this stuff up?

  43. I got into an argument with Jonathan Narvey about this when we were in Israel.
    He said there was no way that giving mortgages _specifically_ to blacks could/would happen by govt fiat in America, or even considered as a serious proposition.
    He refused to believe that lawmakers would spell out the word “black” in such legislation.
    Well, the Justice Dept aren’t Congress, but I think I win this one on points. (And Thomas Sowell has been writing about this for two years anyhow.)
    But I’m just a white trash shiksa, so what did I know? 🙂
    I love being right.

  46. I have a great idea! Let’s aggregate these loans into securities, then get the ratings agency to rate these securities as triple A! What could go wrong?

  48. I noted the unusual name of the Justice Department spokeswoman – Xochitl Hinojosan – too.
    On googling the name I came up with a Facebook page entirely in Spanish. Now I know ther may well be a number of Xochitl Hinojosa’s out there, so I could be grasping at straws. But an indigenous Mexican name in combination with a Spanish language Facebook page would certainly fit in with an ACORN/La Raza state of mind.

  49. Midwest Bankcentre, one of the banks mentioned in the above story, was found to actually be engaging in redlining, a practice that society has found to be offensive and unacceptable since the 1960s but is apparently still supported by some folks around here.
    These cases have less to do with the DOJ forcing banks to “approve loans for minorities with poor credit” and more to do with them forcing banks to approve loans for minorities who would otherwise qualify financially but happen to be black and/or live in the “wrong” neighborhood.
    Rather than getting your news from obviously biased sources and spouting off without bothering to consider the facts, why not try reading the actual complaints first? They’re all on the DOJ website, just google them. Besides discovering Kate’s biases and SDA’s one-sidedness for yourselves, are you afraid of?

  50. rroe: “chesterfield – is the inability to repay a good enough reason to turn someone down for credit?”
    Do yourself a favor and take a look at the actual DOJ case files, rroe. These banks weren’t just turning people down for lacking the ability to repay credit, they were refusing to serve entire neighborhoods ON THE ASSUMPTION that they lacked the ability to repay credit. Denying an individual a loan based on financial criteria is a bank’s prerogative; denying an entire community the same because it’s predominantly black is straight up discrimination.

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