Obamanomics

[keepthefaith]

Excellent, so Congress has more power over economy than Presidents do? Think about that for a minute, ok?

You really are a !@#$ing turd. One that floats and never dissolves.

 

Here is what you said: "He fiddled while the system ran wild and did nothing to show regulatory leadership. A good president would have fought harder to reel in the predatory lending and corruption. But Bush didn't"

[Tiberius]

You really are a !@#$ing turd. One that floats and never dissolves.

 

Here is what you said: "He fiddled while the system ran wild and did nothing to show regulatory leadership. A goodSpresident would have fought harder to reel in the predatory lending and corruption. But Bush didn't"

Lol, so the President isn't in charge of the regulatory agencies???

 

Your point is that Bush is totally absolved of responsibility for the economy on his watch?

 

Is that what you are saying?

[DC Tom]

Lol, so the President isn't in charge of the regulatory agencies???

 

Your point is that Bush is totally absolved of responsibility for the economy on his watch?

 

Is that what you are saying?

 

He's still bound by the law. And the law wasn't changed because Congress wanted to promote low-income home ownership.

 

Yeah, I know you don't understand that, because you believe YOUR guy changes laws at a whim and you have no problem with that. But he's not supposed to.

[Deranged Rhino]

Lol, so the President isn't in charge of the regulatory agencies???

 

Your point is that Bush is totally absolved of responsibility for the economy on his watch?

 

Is that what you are saying?

[Greg F]

[IDBillzFan]

 

Funny how that video ends "Wake up, America...you're about to elect the party and person who did this to us," and not only did the country elect him twice, it's about to give Hillary the keys again.

 

Somebody tell the fat lady she's on in five.

[keepthefaith]

Lol, so the President isn't in charge of the regulatory agencies???

 

Your point is that Bush is totally absolved of responsibility for the economy on his watch?

 

Is that what you are saying?

 

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.^[16] While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized. A Senate reform bill introduced by Senator Jon Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.^[17] At the time members of the 108th congress expressed faith in the solvency of Fannie and Freddie. Congressman Barney Frank (D-MA), for example, described them as "not facing any kind of financial crisis." ^[18] In 2005, the Federal Housing Enterprise Regulatory Reform Act, sponsored by Senator Chuck Hagel (R-NE) and co-sponsored by Senators Elizabeth Dole (R-NC), John McCain (R-AZ) and John Sununu (R-NH)[1], would have increased government oversight of loans given by Fannie Mae and Freddie Mac. Like the 2003 bill, it also died in the Senate Banking, Housing, and Urban Affairs Committee, this time in the 109th Congress. A full and accurate record of the congressional attempts to regulate the housing GSEs is given in the Congressional record prepared in 2005

[B-Man]

+160,000 jobs in April...

 

 

 

Fewest in 7 Months...

 

 

 

Economic growth slows sharply...

 

 

 

.

[Tiberius]

+160,000 jobs in April...

 

 

 

Fewest in 7 Months...

 

 

 

Economic growth slows sharply...

 

 

 

.

Hmmmm....almost seems like you are cheering for, hoping for America's economy to do badly. What a loser. Hating this great country of ours, Shame, shame

[IDBillzFan]

Hmmmm....almost seems like you are cheering for, hoping for America's economy to do badly. What a loser. Hating this great country of ours, Shame, shame

 

Says the guy who cheers at the death of American soldiers and ambassadors, and repeatedly cheers the president who is largely responsible for the sorry state of the economy.

 

Who's cheering for American to do badly again?

[Chef Jim]

Hmmmm....almost seems like you are cheering for, hoping for America's economy to do badly. What a loser. Hating this great country of ours, Shame, shame

 

Boy you sure do read a lot into three linked articles.

[Tiberius]

 

Says the guy who cheers at the death of American soldiers and ambassadors, and repeatedly cheers the president who is largely responsible for the sorry state of the economy.

 

Who's cheering for American to do badly again?

Oh, now its cheering? Before it was just laughing. It started out as me laughing at your Trump like lies about the attack and you took it and ran. Can't imagine what cheering will morph into next. Maybe you will say I was with Lee Harvey Oswald, lol.

[IDBillzFan]

Can't imagine what cheering will morph into next.

 

As you prepare to pull the lever for Hillary, it'll go from cheering to full-throated endorsement.

[Deranged Rhino]

Oh, now its cheering? Before it was just laughing. It started out as me laughing at your Trump like lies about the attack and you took it and ran. Can't imagine what cheering will morph into next. Maybe you will say I was with Lee Harvey Oswald, lol.

 

[B-Man]

Obama’s Pretty Words Cannot Beautify His Ugly Economy

If this morning’s employment report has you down, just listen to President Obama. The U.S. economy is gorgeous, he insists.

“In the United States, our economy is growing again,” Obama crowed during his trip to Germany last month. And the American people would appreciate all of this “if we had been able to more effectively communicate all the steps we had taken” to improve it, he recently told one news outlet.

“It is very hard to get good stories placed” about the economy, Obama whined to college journalists last week. “People will assign you stories about what’s not working. It’s very hard for you to write a story about, ‘Wow, this thing really works good.’”

That grammatical gaffe aside, a failure to communicate is not among Obama’s myriad weaknesses.

As his self-confident and hilarious appearance at last Saturday’s White House Correspondents’ Dinner confirmed, Obama is a gifted speaker. The national media have eaten out of his hand since he descended from the heavens, fully formed, at the 2004 Democratic National Convention. As president, he can summon two dozen TV cameras and just as many microphones just by crawling out of bed every morning. So, the notion that Obama cannot express his economic message “good” deeply insults the intelligence of the American people.

While Obama can talk the bark off a banyan tree, he cannot make Americans hallucinate prosperity. Here is the sad picture they actually see.

The unemployment rate has improved significantly, from 7.8 percent at Obama’s January 20, 2009, inauguration to 5.0 percent in April. However, as more and more Americans stop looking for work, the Labor Force Participation Rate on Obama’s watch has fallen from 65.7 percent to 62.8 percent, a level last measured before Obama in March 1978. Since Obama took office, this metric has slid 4.1 percent.

Last month saw the creation of 160,000 jobs, a widely panned number, and much below the 200,000-plus jobs generated in five of the last six months. Nothing about the latest employment report spells “boom.”

During the Obama years, the number of Americans below the poverty line is up 3.5 percent

. Real median household income: down 2.3 percent.

Americans on Food Stamps — 33 million then, 46 million now: up 39.5 percent.

Americans who own homes: down 5.6 percent.

National debt — $10.63 trillion then vs. $19.19 trillion last Wednesday: up 80.5 percent.

{snip}

In Obama’s eighth year, Americans remain in pain. The best thing he can do is apologize, stop talking, and leave us alone until January 20, 2017.

Read more at: http://www.nationalreview.com/article/435093/barack-obama-economy-jobs-ugly-truth

 

 

 

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[Tiberius]

 

In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development.^[16] While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized. A Senate reform bill introduced by Senator Jon Corzine (D-NJ) (S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee.^[17] At the time members of the 108th congress expressed faith in the solvency of Fannie and Freddie. Congressman Barney Frank (D-MA), for example, described them as "not facing any kind of financial crisis." ^[18] In 2005, the Federal Housing Enterprise Regulatory Reform Act, sponsored by Senator Chuck Hagel (R-NE) and co-sponsored by Senators Elizabeth Dole (R-NC), John McCain (R-AZ) and John Sununu (R-NH)[1], would have increased government oversight of loans given by Fannie Mae and Freddie Mac. Like the 2003 bill, it also died in the Senate Banking, Housing, and Urban Affairs Committee, this time in the 109th Congress. A full and accurate record of the congressional attempts to regulate the housing GSEs is given in the Congressional record prepared in 2005

Did this cause the banks to sell bad mortgage backed securities?

[B-Man]

Obama administration was the first in American history to generate more than 80,000 pgs of new/ proposed rules in a single year

 

A wave of regulations coincides with weak hiring and growth

 

So Many Rules, So Few Opportunities

http://www.wsj.com/articles/so-many-rules-so-few-opportunities-1462575067

[Greg F]

So Many Rules, So Few Opportunities

http://www.wsj.com/articles/so-many-rules-so-few-opportunities-1462575067

For some it is a bug, for others it's a feature.

 

Three Felonies A Day: How the Feds Target the Innocent

[keepthefaith]

Did this cause the banks to sell bad mortgage backed securities?

Takes two to tango. Were there any audit practices at Fanny/Freddy and did they review the quality of credit within the securities? Apparently not.

Who was the largest buyer of mortgages which was also willing to buy them at extremely low rates with very small down payments and low levels of borrower income? Who was willing to buy and hold Trillion$ in mortgages with reserve levels far below what banks were required to have?

 

Fanny and Freddy absolutely set the market as a willing buyer of home loans even advertising such easy credit terms for borrowers. Other large financial institutions foolishly bought similar quality portfolios of mortgages and also got burned. Yes, some loans were written with dishonest credit info but that was a very small portion. Fanny/Freddy played it fast and loose. Had buyers of mortgage backed securities had stricter standards of credit worthiness and money down, the meltdown doesn't happen or would have been a blip instead of a crash.

[Tiberius]

Takes two to tango. Were there any audit practices at Fanny/Freddy and did they review the quality of credit within the securities? Apparently not.

Who was the largest buyer of mortgages which was also willing to buy them at extremely low rates with very small down payments and low levels of borrower income? Who was willing to buy and hold Trillion$ in mortgages with reserve levels far below what banks were required to have?

 

Fanny and Freddy absolutely set the market as a willing buyer of home loans even advertising such easy credit terms for borrowers. Other large financial institutions foolishly bought similar quality portfolios of mortgages and also got burned. Yes, some loans were written with dishonest credit info but that was a very small portion. Fanny/Freddy played it fast and loose. Had buyers of mortgage backed securities had stricter standards of credit worthiness and money down, the meltdown doesn't happen or would have been a blip instead of a crash.

Yes, and the rating agencies stamped the turds with AAA ratings. Were they ever punished?