Reply With QuoteAnyone stupid enough to sign up for an Adjustable Rate Mortgage deserves to lose their ass.
THEY GAVE YOUR MORTGAGE TO A LESS QUALIFIED MINORITY
by Ann Coulter
September 24, 2008
On MSNBC this week, Newsweek's Jonathan Alter tried to connect John McCain to the current financial disaster, saying: "If you remember the Keating Five scandal that (McCain) was a part of. ... He's really getting a free ride on the fact that he was in the middle of the last great financial scandal in our country."
McCain was "in the middle of" the Keating Five case in the sense that he was "exonerated." The lawyer for the Senate Ethics Committee wanted McCain removed from the investigation altogether, but, as The New York Times reported: "Sen. McCain was the only Republican embroiled in the affair, and Democrats on the panel would not release him."
So John McCain has been held hostage by both the Viet Cong and the Democrats.
Alter couldn't be expected to know that: As usual, he was lifting material directly from Kausfiles. What is unusual was that he was stealing a random thought sent in by Kausfiles' mother, who, the day before, had e-mailed: "It's time to bring up the Keating Five. Let McCain explain that scandal away."
The Senate Ethics Committee lawyer who investigated McCain already had explained that scandal away -- repeatedly. It was celebrated lawyer Robert Bennett, most famous for defending a certain horny hick president a few years ago.
In February this year, on Fox News' "Hannity and Colmes," Bennett said, for the eight billionth time:
"First, I should tell your listeners I'm a registered Democrat, so I'm not on (McCain's) side of a lot of issues. But I investigated John McCain for a year and a half, at least, when I was special counsel to the Senate Ethics Committee in the Keating Five. ... And if there is one thing I am absolutely confident of, it is John McCain is an honest man. I recommended to the Senate Ethics Committee that he be cut out of the case, that there was no evidence against him."
It's bad enough for Alter to be constantly ripping off Kausfiles. Now he's so devoid of his own ideas, he's ripping off the idle musings of Kausfiles' mother.
Even if McCain had been implicated in the Keating Five scandal -- and he wasn't -- that would still have absolutely nothing to do with the subprime mortgage crisis currently roiling the financial markets. This crisis was caused by political correctness being forced on the mortgage lending industry in the Clinton era.
Before the Democrats' affirmative action lending policies became an embarrassment, the Los Angeles Times reported that, starting in 1992, a majority-Democratic Congress "mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers. Operating under that requirement, Fannie Mae, in particular, has been aggressive and creative in stimulating minority gains."
Under Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton's secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low- to moderate-income borrowers by the year 2001.
Instead of looking at "outdated criteria," such as the mortgage applicant's credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named "Caylee."
Threatening lawsuits, Clinton's Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn't a joke -- it's a fact.
When Democrats controlled both the executive and legislative branches, political correctness was given a veto over sound business practices.
In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration's affirmative action lending policies as one of the "hidden success stories" of the Clinton administration, saying that "black and Latino homeownership has surged to the highest level ever recorded."
Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn't get out of their loans by selling their houses.
A decade later, the housing bubble burst and, as predicted, food-stamp-backed mortgages collapsed. Democrats set an affirmative action time-bomb and now it's gone off.
In Bush's first year in office, the White House chief economist, N. Gregory Mankiw, warned that the government's "implicit subsidy" of Fannie Mae and Freddie Mac, combined with loans to unqualified borrowers, was creating a huge risk for the entire financial system.
Rep. Barney Frank denounced Mankiw, saying he had no "concern about housing." How dare you oppose suicidal loans to people who can't repay them! The New York Times reported that Fannie Mae and Freddie Mac were "under heavy assault by the Republicans," but these entities still had "important political allies" in the Democrats.
Now, at a cost of hundreds of billions of dollars, middle-class taxpayers are going to be forced to bail out the Democrats' two most important constituent groups: rich Wall Street bankers and welfare recipients.
Political correctness had already ruined education, sports, science and entertainment. But it took a Democratic president with a Democratic congress for political correctness to wreck the financial industry.
COPYRIGHT 2008 ANN COULTER
DISTRIBUTED BY UNIVERSAL PRESS SYNDICATE
4520 Main Street, Kansas City, MO 64111
Anyone stupid enough to sign up for an Adjustable Rate Mortgage deserves to lose their ass.
this showed up "in box" today...some good posts here.
CC
Change ? But what kind ?
My Grandpa used to say you can lead a horse to water but you can't make em drink.
This has to make you think a little bit, if not then keep your blinders on!
George Bush has been in office for 7 1/2 years.
The first six the economy was fine.
A little over two years ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record high--14,000 +
5) American's were buying new cars, taking cruises, vacations o'seas,
living
large!...
But American's wanted 'CHANGE'!
So, in 2006 they voted in a Democratic Congress & yep--we got 'CHANGE'
all right. The new congress froze the president, creating a lame duck and
here's what followed
In the PAST TWO YEARS:
1) Consumer confidence has plummeted ;
2) Gasoline is now over $4 a gallon & climbing!;
3) Unemployment is up to 5% (a 10% increase);
4) Americans have seen their home equity drop
by $12 TRILLION DOLLARS & prices still dropping;
5) 1% of American homes are in foreclosure.
6) as I write, THE DOW is probing another low
$2.5 TRILLION DOLLARS HAS EVAPORATED
FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT
PORTFOLIOS!
YEP , IN 2006 AMERICA VOTED FOR CHANGE!...
AND WE SURE AS Hell GOT IT!!!....
NOW OBAMA, the DEMOCRAT'S CANDIDATE FOR PRESIDENT
AND THE POLLS SAY HE'S GONNA BE 'THE MAN'
CLAIMS HE'S GONNA REALLY GIVE US CHANGE!!....
JUST HOW MUCH MORE 'CHANGE' DO YA THINK YOU CAN
STAND???
Ladies & Gentlemen are you aware we have had only two democratic presidents since 1963. Jimmy Carter WOWWW
and William Jefferson Clinton.!!!!!!! I Rest My Case
Join the NObama Movement.......we don't need an Islam in our White House running
this showed up "in box" today...some good posts here.
CC
Change ? But what kind ?
My Grandpa used to say you can lead a horse to water but you can't make em drink.
This has to make you think a little bit, if not then keep your blinders on!
George Bush has been in office for 7 1/2 years.
The first six the economy was fine.
A little over two years ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record high--14,000 +
5) American's were buying new cars, taking cruises, vacations o'seas,
living
large!...
But American's wanted 'CHANGE'!
So, in 2006 they voted in a Democratic Congress & yep--we got 'CHANGE'
all right. The new congress froze the president, creating a lame duck and
here's what followed
In the PAST TWO YEARS:
1) Consumer confidence has plummeted ;
2) Gasoline is now over $4 a gallon & climbing!;
3) Unemployment is up to 5% (a 10% increase);
4) Americans have seen their home equity drop
by $12 TRILLION DOLLARS & prices still dropping;
5) 1% of American homes are in foreclosure.
6) as I write, THE DOW is probing another low
$2.5 TRILLION DOLLARS HAS EVAPORATED
FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT
PORTFOLIOS!
YEP , IN 2006 AMERICA VOTED FOR CHANGE!...
AND WE SURE AS Hell GOT IT!!!....
NOW OBAMA, the DEMOCRAT'S CANDIDATE FOR PRESIDENT
AND THE POLLS SAY HE'S GONNA BE 'THE MAN'
CLAIMS HE'S GONNA REALLY GIVE US CHANGE!!....
JUST HOW MUCH MORE 'CHANGE' DO YA THINK YOU CAN
STAND???
Ladies & Gentlemen are you aware we have had only two democratic presidents since 1963. Jimmy Carter WOWWW
and William Jefferson Clinton.!!!!!!! I Rest My Case
Join the NObama Movement.......we don't need an Islam in our White House running
Yup, the dems did it, when will you bushies wake the **** up?
Yup, the dems did it, when will you bushies wake the **** up?
I'll wake up when you quit sucking
Guess I'll be sleeping a little longer.
I'll wake up when you quit sucking .
easy there big fella.
CC
I'll wake up when you quit sucking .
Guess I'll be sleeping a little longer.
Hey nut swinger, nice that you stalk me, stop pm'ing me about wanting to suck my .
easy there big fella.
CC
None of your biz CC.
Hey nut swinger, nice that you stalk me, stop pm'ing me about wanting to suck my .
You're so clever alkyfaggin.
So how's your ass healing? You know, everyone knows, don't be shy. If you didn't want your pleats stretched you shouldn't have let ultra pound your culo. And stuffing that beer bottle up there....jeez you fags sure are self destructive.
You're so clever alkyfaggin.
So how's your ass healing? You know, everyone knows, don't be shy. If you didn't want your pleats stretched you shouldn't have let ultra pound your culo. And stuffing that beer bottle up there....jeez you fags sure are self destructive.
Always with the gay stuff, why dont you just fess up to who and what you really are and embrace the fact you want a mans penis in your mouth.
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