“Trump cared only about one thing: himself" - Bill Barr

Obama was handed the Bush Crash.

Trump was handed the recovered and growing economy of the Obama years, and there was nothing unusual about the growth that came from that through the Trump years.

 

The First Amendment gives us the right to worship anyone we chose. It says nothing about separation of church and state. We have never had it.

 

That crash was because of the housing fiasco. The Democrats were as much involved in it happening as Bush, if not more. For years forcing banks to make loans to people who should never been given loans. It started way back around 1993,.


Here was the very start of the fall of the banks, by pushing banks to make loans to the poor, when they couldn't afford them.

Please catch the date of this article.



U.S. To Push Banks on Credit in Poor Areas

December 09, 1993|ROBERT A. ROSENBLATT and CHRIS KRAUL | TIMES STAFF WRITERS


WASHINGTON — The Clinton Administration, hoping to generate billions of dollars in new loans for small businesses and residents in poor and minority neighborhoods, on Wednesday unveiled proposed new rules requiring banks and thrifts to aggressively seek new customers in all parts of their communities.

Federal regulators will now be much tougher in demanding that financial institutions make credit available to the poor as well as the affluent, said Comptroller of the Currency Eugene A. Ludwig, whose recent travels have taken him from South-Central Los Angeles to a reservation in North Carolina to hear complaints about the lack of credit in low-income areas.

http://articles.latimes.com/1993-12-...ommunity-banks

 

Here is the economy that Obama passed on to Trump. I showed you one part of it, here is the other.


Welfare At All-Time High Under Obama

The latest government figures reveal that an astonishing number of people are collecting public benefits such as food stamps and disability checks, revealing an alarming trend of dependence on government rather than self-sufficiency associated with the American dream.

A record 5.4 million workers have applied for federal disability checks since President Obama took office, according to a news report that cites recent government figures. This is straining already-stretched government finances while posing a long-term economic threat by creating an ever-growing pool of permanently dependent working-age Americans, the report says.

Since the recession supposedly ended in mid 2009, the number of people who have applied for disability benefits is double the job growth figure, according the report which includes an informative chart. In just the first four months of this year, 539,000 joined the disability rolls and more than 725,000 applied for the federal benefit. That means nearly 11 million people are on disability, according to the Social Security Administration.

Also this week, government figures reveal that a record number are getting food stamps and the figure will keep rising. This is not surprising since the Obama Administration has promoted the program like there’s no tomorrow in an effort to eradicate “food insecure households.” In fact, the administration has spent millions of dollars to recruit even more food-stamp recipients and has doled out hefty cash rewards to states that sign up the most people. One state even bragged about a $5 million performance bonus it got from the feds for its “swift processing of applications.”https://www.judicialwatch.org/.../welfare-at-all-time.../

 

It's great to pretend that Bush could have done nothing and that Clinton wanted mortgage companies to ignore factors such as having zero income, zero down payment and no credit history of any kind.

Then, they started bundling garbage mortgage and having ratings houses give them full approval, even though they were obvious garbage. That wasn't Clinton's idea.

Sorry, Marine.

Bush was president. And he watched as our economy crashed

 

When the economy crashes, people get to be out of work!!

DUH!

 

Yes and when the jobs are so bad, people quit looking for work as they can make as much off of welfare, which is what millions did. A total of 13 million. more than what was on it after the crash. With hundreds of thousands also putting in for a record number on permanent disability under Obama.

 

No, banks had to change the way they did business to make sure the government doesn't sue them for not meeting their quota of loans to the poor. They took food stamps and disability checks as income. They changed their lending practices. They came out with veritable loans, balloon loans where you paid so much for 5-10 years and then had to come out with a new loans to pay off what was left of the balloon loan. There were others, but that's how banks had to do it to make their quotas.

Bush isn't innocent. He pushed home loans too. to the poor. But he warned them to stay clear of unrepeatable loan sharks. He didn't sue the banks to force them to make the loans like Clinton did.

 

BUSH ADMINISTRATION PROVIDES HOMEBUYERS NEW PROTECTION FROM PREDATORY LENDING PRACTICE
New "Anti-Flipping" Rule Holds Lenders, Sellers and Appraisers Accountable
WASHINGTON - Housing and Urban Development Secretary Mel Martinez today announced a new initiative in the Bush Administration's efforts to crack down on predatory lending. HUD published a final rule today in the Federal Register addressing property "flipping" on mortgages insured by the Federal Housing Administration (FHA).

Property "flipping" occurs when a recently acquired property is resold for a considerable profit with an artificially inflated value.

"The Bush Administration is committed to maintaining a strong housing market in which consumers can feel confident that they are protected from unscrupulous practices," Martinez said. "This final rule represents a major step in our efforts to eliminate predatory lending practices."

Predatory lending results when home purchasers become unwitting victims of lenders, sellers and appraisers, often working together. The unsuspecting homebuyers either purchase homes with sales prices far in excess of the fair market value, or are substantially overcharged with costs associated with obtaining a mortgage.

The final rule, "FR-4615 Prohibition of Property Flipping in HUD's Single Family Mortgage Insurance Programs," makes recently flipped properties ineligible for FHA mortgage insurance. It also allows FHA to better manage its insurance risk by requiring additional support for a property's value when a significant increase between sales occurs. Features include:

Sale by Owner of Record: Only the owner of record may sell a home to an individual who will obtain FHA mortgage insurance for the loan; it may not involve any sale or assignment of the sales contract, a procedure often observed when the homebuyer is determined to have been a victim of predatory practices.

https://archives.hud.gov/news/2003/pr03-055.cfm



dailycaller.com › 2012/09/03 › with-landmark-lawsuitWith landmark lawsuit, Barack Obama pushed banks to give ...
Sep 03, 2012 · President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage

 

Look at the post crash numbers for manufacturing and for employment.

Corporations learned how to create the same amount of product with far fewer employees.

You can't blame that on Obama.

 

What's your point?

I don't see how anti-flipping laws would force the financial industry to stop it's predatory loan practices.

 

It doesn't stop that, but it did stop most people buying up and flipping houses. Pelosi lied and tried to put all the blame on Republicans. Of course the Democrats always do that.

 

Even Bill Clinton said Pelosi lied.

 

Exactly - you keep bringing up stuff that isn't relevant.

Bush was president. He watched it happen.

And, afterwards Republicans fought HARD to prevent legislation that was designed to stop the practices that caused the housing crash. And, Republicans have succeeded in leaving that kind of behavior open.

 

I know - you hate Clinton.

But, he hadn't been president for years when the Bush Crash took place.

And, Clinton absolutely did NOT push the irresponsibility and crime that caused the crash.

 

Listen to Barnie Franks lie about pushing for home ownership

Barney Frank lies about his role in creating the housing bubble -

Barney Frank lies about his role in creating the housing bubble - YouTube

 

I don't hate Clinton. He was the last Democratic President I voted for. I'm just showing you the lies that have gone on for years. About the housing crash and about how well Obama did bringing back the economy. The Democrats have been lying their ass off for decades. It sure isn't the Party my Father and five siblings belonged to for years.

 

You are straying off topic.

Frank absolutely DID push for greater home ownership, as the financial industry had a strong history of denying loans to minority individuals.

A correction was needed there. It was a case of blatant racism.

Frank didn't demand "no-no" loans, nor did he advocate bundles of worthless loans be rated as top level securities.

 

I don't agree with any of that, as I've pointed out.

 

Well of course you don't. It's not like you can't read the headlines and listen from their own mouth. You just ignore all that and keep letting them snow job you with lies. Obama telling you that your insurance will be $2,500.00 cheaper and that he had two million shovel ready jobs just waiting for him to get elected. Or that he would renegotiate NAFTA. Just like Biden told you he would pay off your school loans and give billions to Blacks for reparations. They will tell you anything to get your votes. You will believe it all.

 

Franks said he wasn't for pushing home ownership, he was for rental housing. Then they show how pushing for home ownership. He lied his ass off just like Pelosi.

 

How is that fence coming along that trump promised as his MAIN campaign promise.

Curious how you like it when he attacks the parents of fallen soldiers? No problem eh "marine"?

 

Yes, there have been a lot of things our presidents have stated that they want to do, only to have congress kill those ideas for no more than partisan politics.

The one I really hate is that in 2013 bipartisan committees in the House and Senate designed an amazingly comprehensive and sane immigration reform bill that both Republicans and Democrats were willing to vote for.

One can still read that bill online!

The bill passed the Senate, but in the House the Republican speaker refused to allow it to come to a vote, noting that it would have passed.

So, now instead of having a real solution we have piecemeal crap and partisan BS that doesn't solve ANY problem with immigration.

 

How about when he tried to change the American flag and instead make a trump flag "marine"?

And obviously inciting an attack on the capitol doesn't bother you either.

 

Seriously, you know that changing ones mind is not lying, right?

Our congressmen are SUPPOSED to keep up with what's going on and change their minds if the situation changes in ways that require that.