foreclosures drop

[vitterd]

So for the first time in 5 years foreclosures drop in the month of april. Sounds like good news to me. Auto sales, consumer sales, consumer spending. All up.

I know when it is all going the other way it is obama admin fault. So does he get any credit for the turn around? Hmmmmm I wonder

[bwade210]

it only took how many trillions of dollars of tax payer money to get the economy jump started?
What in your opinion was the cause of the housing crisis in the United States?

[wayne1218]

I think everybody already lost their house so there is nobody left to foreclose on.

[baseballdave]

I think everybody already lost their house so there is nobody left to foreclose on.

I agree Wayne. There is not much more "down" that we can go, so its going to start going up.

Now vitterd, I am not blaming Obama nor giving credit. I just need to ask you this - You have said MANY TIMES (damn caps again) that we shouldn't blame Obama for what has happened so far - that we need to let his administration play out over 4 years before we judge him. Am I correct that you have said this?
And before you answer yes, which you should, I will say that I agree with you. I do not agree with what Obama has done but I do believe he was elected by the people and we should see what happens before he is judged. I just don't like the way it is going, but hopefully for the U.S. sake, it changes.

So, since we know that you have MANY TIMES (sorry for the caps) said that Obama needs to "play out his term" to be judged because he hasn't been in office but a year and he hasn't had time to complete anything he has started.

Sorry for the dialogue but I am just tryong to make sure we are on the same page (its the mentally challenged thing).

Since we need to give Obama time to work out his plan - so to speak - can you say that the "turn around" his all his doing or do you think it might be a combination of BOTH administrations? I know that pill might be hard to swallow, but if Obama needs time to be judged because he has only been in office a year, do you honestly think that the turn around goes ALL to Obama?

Your turn

[vitterd]

I really don't know if it has anything to do with obamas policy or not. It might or might not. I was just curious if all the rep that blame him for bad numbers and say it is now his economy will now give him credit for this.
I already know the answer just wanted to see the spin

[vitterd]

it only took how many trillions of dollars of tax payer money to get the economy jump started?
What in your opinion was the cause of the housing crisis in the United States?

I bet I know what u think is cause of housing crisis. Barney frank and dems making banks loan money to people who couldn't afford to pay it back. That has been the rep tag line for a while. The rep have tried to make us believe that even though the dems had control of congress for 2 years and rep were in control for 8 in white house and 6 in congress it all was destroyed in those 2 years. Neat theory but untrue. The amazing deregualtion of everything, which is a rep staple, was a big factor. Plenty of blame to go around

[robby_morini]

I bet I know what u think is cause of housing crisis. Barney frank and dems making banks loan money to people who couldn't afford to pay it back. That has been the rep tag line for a while. The rep have tried to make us believe that even though the dems had control of congress for 2 years and rep were in control for 8 in white house and 6 in congress it all was destroyed in those 2 years. Neat theory but untrue. The amazing deregualtion of everything, which is a rep staple, was a big factor. Plenty of blame to go around

Clinton and Gore were responsible for banking deregulation, it occurred in October 1999. Be glad to provide you with whatever link you want. Below is a brief synopsis, compliments of the NY Times in October 1999:

An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.

The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933, one of the central pillars of Roosevelt's New Deal. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others' industries, and investment banking and commercial banking were separated.

[vitterd]

Unfortunately clinton signed that republican bill. It was a bad move by him. Rep deregulated everything in their time all the way back to reagan. Banks, electricity, mortgages. Bush and mccain were always big supporters of deregulating everything.

Clinton caved on that republican bill while attempting to move to the center. No question a bad move. But please, don't even attempt to say deregualtion was not always a republican favorite. It has been since reagan

[robby_morini]

Unfortunately clinton signed that republican bill. It was a bad move by him. Rep deregulated everything in their time all the way back to reagan. Banks, electricity, mortgages. Bush and mccain were always big supporters of deregulating everything.

Clinton caved on that republican bill while attempting to move to the center. No question a bad move. But please, don't even attempt to say deregualtion was not always a republican favorite. It has been since reagan

Not only did I say it, it is a fact. Clinton signed the bill into law in 1999. I am surprised you didn't say it was Bush's fault.

Let me guess, Clinton was solely responsible for the huge economic growth in the mid-late 90's. Congress and the '94 Revolution had nothing to do with the prosperity to follow. The President makes the laws and Congress signs them into law. Wait..is that right?

It was all Clinton.

Its ok to be wrong Vitterd, take a deep breath

[vitterd]

Wrong about what? Clinton signed the bill and it was a mistake and it contributed to the current problem.

You guys always wanna have it both ways. I said plenty of blame to go around dems and rep. You do know who the creators of that legislation was right?

Of course we can't say clinton was responsible for any good things. The guy would be elected tommorow of any republican in the last decade but u guys try to make it seem like he was a disaster. But u guys always blame the dems when things are bad but give no credit when they are good. Which they were under clinton. As hard as it is to admit. The country was doing very well under clinton an very bad under bush. I know its tough to come to grips with

[robby_morini]

Wrong about what? Clinton signed the bill and it was a mistake and it contributed to the current problem.

You guys always wanna have it both ways. I said plenty of blame to go around dems and rep. You do know who the creators of that legislation was right?

Of course we can't say clinton was responsible for any good things. The guy would be elected tommorow of any republican in the last decade but u guys try to make it seem like he was a disaster. But u guys always blame the dems when things are bad but give no credit when they are good. Which they were under clinton. As hard as it is to admit. The country was doing very well under clinton an very bad under bush. I know its tough to come to grips with

"You Guys"..dude...wrong again, I voted for Obama. I figured we would either crash and burn or get better...couldn't get much worse....at least I didn't think so.

I voted for change, and got more of the same, and then some.

To your original point. This thing is far from over, there is another wave of foreclosures coming...hold on tight, it will get worse. Even Hillary is slamming BO for his irresponsible, out of touch domestic policies.

Hillary 2012?

[bwade210]

When you allow people to buy homes that cannot afford them, you are setting up forfailure. Much like the "cash for clunker" trouble that is looming. Whther you are on the right or left, its basic theory.

[grandmama]

When you allow people to buy homes that cannot afford them, you are setting up forfailure. Much like the "cash for clunker" trouble that is looming. Whther you are on the right or left, its basic theory.

I agree. A lack of regulation contributed to the crash. Back when I bought me first home it took two months for me to get approved for my loan. The bank actually sent one of their people to my work place to make sure that I had the job that I told them I had. During bubble people were able to state their income, which is a joke. Everyone got greedy. There was actually a nice program called house of cards that did a good job of painting the big pic of the whole problem.

[husker]

Clinton and Gore were responsible for banking deregulation, it occurred in October 1999. Be glad to provide you with whatever link you want. Below is a brief synopsis, compliments of the NY Times in October 1999:

An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.

The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933, one of the central pillars of Roosevelt's New Deal. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others' industries, and investment banking and commercial banking were separated.

[/U][/B]


Not only did I say it, it is a fact. Clinton signed the bill into law in 1999. I am surprised you didn't say it was Bush's fault.

Let me guess, Clinton was solely responsible for the huge economic growth in the mid-late 90's. Congress and the '94 Revolution had nothing to do with the prosperity to follow. The President makes the laws and Congress signs them into law. Wait..is that right?

It was all Clinton.

Its ok to be wrong Vitterd, take a deep breath

"You Guys"..dude...wrong again, I voted for Obama. I figured we would either crash and burn or get better...couldn't get much worse....at least I didn't think so.

I voted for change, and got more of the same, and then some.

To your original point. This thing is far from over, there is another wave of foreclosures coming...hold on tight, it will get worse. Even Hillary is slamming BO for his irresponsible, out of touch domestic policies.

Hillary 2012?

good to see you posting here and right on the money. you always made good factual posts about politics, even if i didn't agree completely with them. you have seen vitturd in action, and know facts are meaningless to him. he will spin anything to rep's are bad and dem's are good, it's his job.

[grandmama]

Clinton and Gore were responsible for banking deregulation, it occurred in October 1999. Be glad to provide you with whatever link you want. Below is a brief synopsis, compliments of the NY Times in October 1999:

An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.

The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933, one of the central pillars of Roosevelt's New Deal. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others' industries, and investment banking and commercial banking were separated.

your right that Clinton signed it into law, but Phil Gramm and the Pub house and Sen were the main reasons for deregulation. I for one, still do not know why people do not realize that Clinton was a centrist. BTW, in regards to Glass-Steagall, the latter part (Steagall) was my wifes maiden name. Henry Stegall is from Alabama, and was a great --great uncle of my wifes, or something like that. Anyway, when they got rid of that act, it essentially created the too big to fail banks that we had to bail out.