Poll: Seriously, who are you voting for???

[socalrappy700]

An interesting video about the economy.

http://www.youtube.com/watch?v=GIVvvoDbCV0

Jimmy Carter didn't have  a damn thing to do with the current mortgage crisis.

The Community Reinvestment Act (or CRA, Pub.L. 95-128, title VIII, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.

The Act was intended to reduce discriminatory credit practices against such neighborhoods, a practice known as 'redlining'. The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation. (See full text of Act and current regulations.) To enforce the statute, federal regulatory agencies examine banking institutions for CRA compliance, and take this information into consideration when approving applications for new bank branches or for mergers or acquisitions.

Low income and moderate income neighborhoods. Those AREN'T the communities that the majority of foreclosures are occurring in. They are occuring in markets where the real estate market values are OVER INFLATED. Do you honestly think houses in low income and moderate income areas are over inflated? NO. It's where there is substaintial economic growth (Southern California.Vegas, etc.). The crisis was caused by deregualtion of lending guidlines. More people got into homes during the last eight years than other time in history. The current administration made it easy by deregulating guidelines to qualify for loans, and lenders took advantage of it by selling loans to people that didn't require income, job, or assett verification (Ninja loans) or into adjustible rate mortages (ARM). ARM loans at the time where great ideas because those rates were affected and adjusted by using the London LIBOR* (Example).

*The London Interbank Offered Rate (or LIBOR, pronounced /ˈlaɪbɔr/) is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the London wholesale money market (or interbank market). LIBOR will be slightly higher than the London Interbank Bid Rate (LIBID), the rate at which banks are prepared to accept deposits. It is roughly comparable to the U.S. Federal funds rate.

When the economy is doing well, investors pump money into bonds and that's what banks and subprime lenders base loans from. When the econpmy started a downward spiral, those investors pulled those investments, and went elsewhere. This caused those rates on wholesale money to skyrocket, thus causing ARM mortgages to raise, and mortgage rates to rise. Now, credit markets are froze due to the lack of investors in the bond market, banks taking it on the chin for making poor loans in inflated market areas. Money is only being loaned to credit worthy customers at strict criteria at much higher rates than normal. The people in ARM loans can't keep up because they've lost jobs, higher fuel prices, food costs, higher insurance premiums, etc..  Those people should have never been in those homes to begin with because of deregualted guidelines. NINJA loans put people into homes at higher rates (Higher rates to NOT verify job, income, and assets). Take a consumer that makes $70,000 a year in Southern California. The consumer needs a small four bedroom home, within 100 miles of his/her job. What does that home cost? $500K if you're lucky? NINJA loans put people like this into expensive homes when a conventional mortgage would have limited this person to a $1200 mortgage max if his/her debt ratio was below 40%.

To the maker of the video.....Don't blame a President that was in office 30 years ago. He had nothing to do with it!

Sharpton for President ya'll, I'm audi.

~Brian

But look where this law has gone since, I'm not blaming Carter for all of it but this law was the beginning.  So many things have coat tailed off of it.  

[socalrappy700]

Yup, he has quite the voting record here.  But this is the land of the most corrupt politicians out there.  I bet we'll see two of our governors in the big house soon. 

Well, you do live near one of the largest US cities.....I'm sure taxes have always been outrageous there due to the infastructure.

If you have an example for me to read on in my spare time, send it to me.

Thanks!

~Brian

No problem, I'll make sure to send them over tonight.  And it does have a little to do with the city, cook county is one of the highest in the area...or sales tax is 10.25%.  But State wide we are getting killed, trying to own a gun is a joke, gas is MUCH higer then states around us, income taxes..OUCH.  But I guess thats what I get for trying to work hard and make as much money as I can.

10.25% Shit!

We aren't far off the mark at 9.25%

I can see why a gun is hard to get there. It should be tougher to get since crime is higher. It's WAY too easy to get a gun here. Gas, there's my complaint. Sure it takes more to ship it there, but should it be a $1.00 higher per gallon? No.

~Brian

The gun control is for the whole state, not just the high crime areas.  Hell, it was easier to own a gun in cali.  And the gas is a joke, we have states north of us that pay up to a dollar less.  Then there is the income tax, they love to hit us there.  Oh and I wont even start on insurance. 

[Peelz]

I am not worried about riding areas, as long as they are generating revenue, they will be ok.....for awhile...until the economy gets better, then they have nothing better to worry about. And will go after them again, regardless of who is in office.

I wish this was true, but their voting proves otherwise.  Same with gun ownership.

voting records are from before this economy collapse. Rules have changed.

It is waaaaaayyyy too easy to buy a gun period. I enjoy shooting alot, but I was shocked when my wife was allowed to walk right in to the sporting goods store and buy me a rifle for my birthday. Needs to be regulated.

+1 to colorado for post of the day

[RaptorRandy]

So, then what, praytell, are we paving the way for with a vote for McCain?

The preservation of the ideals this country was founded on by our forefathers. The liberal Socialists have no respect for our constitution or the ideals this one great country was founded on......granted the republicans are far from perfect, but they do believe in preserving the constitution far more than the liberal demos.

Look at Canada, they have had the liberals in control for what a 100 years? Now the last two elections that have voted in the conservatives....there's a good reason for that.

[socalrappy700]

I am not worried about riding areas, as long as they are generating revenue, they will be ok.....for awhile...until the economy gets better, then they have nothing better to worry about. And will go after them again, regardless of who is in office.

I wish this was true, but their voting proves otherwise.  Same with gun ownership.

voting records are from before this economy collapse. Rules have changed.

It is waaaaaayyyy too easy to buy a gun period. I enjoy shooting alot, but I was shocked when my wife was allowed to walk right in to the sporting goods store and buy me a rifle for my birthday. Needs to be regulated.

+1 to colorado for post of the day

way to easy by you, not here in Obama's state.  Here it is way to far the other way.  And no, the rules didn't change, politics will always be politics.  The down economy's before are proof of that.  Half of glamis was closed, and Pismo lost about 1200 acres.

[RaptorRandy]

I am not worried about riding areas, as long as they are generating revenue, they will be ok.....for awhile...until the economy gets better, then they have nothing better to worry about. And will go after them again, regardless of who is in office.

I wish this was true, but their voting proves otherwise.  Same with gun ownership.

voting records are from before this economy collapse. Rules have changed.

It is waaaaaayyyy too easy to buy a gun period. I enjoy shooting alot, but I was shocked when my wife was allowed to walk right in to the sporting goods store and buy me a rifle for my birthday. Needs to be regulated.

+1 to colorado for post of the day

You have to fill out the paper work, provide proper ID and pass the intant background check at least that's the way it is here. On handguns you have a 1 week waiting period even if you have a concealed weapons permit. It should be easy for a law abiding citizen to buy a long gun. We don't need more gun laws, we need to merely enforce the ones we have.

[socalrappy700]

So, then what, praytell, are we paving the way for with a vote for McCain?

The preservation of the ideals this country was founded on by our forefathers. The liberal Socialists have no respect for our constitution or the ideals this one great country was founded on......granted the republicans are far from perfect, but they do believe in preserving the constitution far more than the liberal demos.

Look at Canada, they have had the liberals in control for what a 100 years? Now the last two elections that have voted in the conservatives....there's a good reason for that.

And they are also coming across the border to get their health care here.  My old company was based in Canada and you should hear the guys up their complain about their health care system.

[socalrappy700]

I am not worried about riding areas, as long as they are generating revenue, they will be ok.....for awhile...until the economy gets better, then they have nothing better to worry about. And will go after them again, regardless of who is in office.

I wish this was true, but their voting proves otherwise.  Same with gun ownership.

voting records are from before this economy collapse. Rules have changed.

It is waaaaaayyyy too easy to buy a gun period. I enjoy shooting alot, but I was shocked when my wife was allowed to walk right in to the sporting goods store and buy me a rifle for my birthday. Needs to be regulated.

+1 to colorado for post of the day

You have to fill out the paper work, provide proper ID and pass the intant background check at least that's the way it is here. On handguns you have a 1 week waiting period even if you have a concealed weapons permit. It should be easy for a law abiding citizen to buy a long gun. We don't need more gun laws, we need to merely enforce the ones we have.

+1

[RaptorRandy]

So, then what, praytell, are we paving the way for with a vote for McCain?

The preservation of the ideals this country was founded on by our forefathers. The liberal Socialists have no respect for our constitution or the ideals this one great country was founded on......granted the republicans are far from perfect, but they do believe in preserving the constitution far more than the liberal demos.

Look at Canada, they have had the liberals in control for what a 100 years? Now the last two elections that have voted in the conservatives....there's a good reason for that.

And they are also coming across the border to get their health care here.  My old company was based in Canada and you should hear the guys up their complain about their health care system.

You got that right Erich, I live right below the Canadian border....I see first hand what my Canadian friends have to deal with in regards to Socialized heath care. The come down here and pay out of their own pockets for first class health care because their's is not worth a damn .

[Peelz]

So, then what, praytell, are we paving the way for with a vote for McCain?

The preservation of the ideals this country was founded on by our forefathers. The liberal Socialists have no respect for our constitution or the ideals this one great country was founded on......granted the republicans are far from perfect, but they do believe in preserving the constitution far more than the liberal demos.

Look at Canada, they have had the liberals in control for what a 100 years? Now the last two elections that have voted in the conservatives....there's a good reason for that.

we have had the conservative (moron) in office long enough here. Sadly, alot of my opinion is based on the outgoing administration. McCain had too far an uphill battle. We will see next time around, I may be swayed.Right now: It is time for a change. I love the ideals of this country. Putting liberals in office won't change them. I agree on the party difference in saving the constitution, but that is not what it is about for me. Change is essential in order to survive. Our forefathers didn't battle the same problems we face today. There has to be a way to move forward without changing the ideals the country was founded on. Reps seem to only focus on the ideals not the problems at hand. But advertise that they want to change the future for the better.  

Oh...and "blame canada"

[Peelz]

I am not worried about riding areas, as long as they are generating revenue, they will be ok.....for awhile...until the economy gets better, then they have nothing better to worry about. And will go after them again, regardless of who is in office.

I wish this was true, but their voting proves otherwise.  Same with gun ownership.

voting records are from before this economy collapse. Rules have changed.

It is waaaaaayyyy too easy to buy a gun period. I enjoy shooting alot, but I was shocked when my wife was allowed to walk right in to the sporting goods store and buy me a rifle for my birthday. Needs to be regulated.

+1 to colorado for post of the day

You have to fill out the paper work, provide proper ID and pass the intant background check at least that's the way it is here. On handguns you have a 1 week waiting period even if you have a concealed weapons permit. It should be easy for a law abiding citizen to buy a long gun. We don't need more gun laws, we need to merely enforce the ones we have.

+1

[Colorado700R]

So, then what, praytell, are we paving the way for with a vote for McCain?

The preservation of the ideals this country was founded on by our forefathers. The liberal Socialists have no respect for our constitution or the ideals this one great country was founded on......granted the republicans are far from perfect, but they do believe in preserving the constitution far more than the liberal demos.

Look at Canada, they have had the liberals in control for what a 100 years? Now the last two elections that have voted in the conservatives....there's a good reason for that.

we have had the conservative (moron) in office long enough here. Sadly, alot of my opinion is based on the outgoing administration. McCain had too far an uphill battle. We will see next time around, I may be swayed.Right now: It is time for a change. I love the ideals of this country. Putting liberals in office won't change them. I agree on the party difference in saving the constitution, but that is not what it is about for me. Change is essential in order to survive. Our forefathers didn't battle the same problems we face today. There has to be a way to move forward without changing the ideals the country was founded on. Reps seem to only focus on the ideals not the problems at hand. But advertise that they want to change the future for the better.  

Oh...and "blame canada"

Hmm, IMO the Dems are the optimistic Idealists, wheras the Reps are the functional realists

[RaptorRandy]

So, then what, praytell, are we paving the way for with a vote for McCain?

The preservation of the ideals this country was founded on by our forefathers. The liberal Socialists have no respect for our constitution or the ideals this one great country was founded on......granted the republicans are far from perfect, but they do believe in preserving the constitution far more than the liberal demos.

Look at Canada, they have had the liberals in control for what a 100 years? Now the last two elections that have voted in the conservatives....there's a good reason for that.

we have had the conservative (moron) in office long enough here. Sadly, alot of my opinion is based on the outgoing administration. McCain had too far an uphill battle. We will see next time around, I may be swayed.Right now: It is time for a change. I love the ideals of this country. Putting liberals in office won't change them. I agree on the party difference in saving the constitution, but that is not what it is about for me. Change is essential in order to survive. Our forefathers didn't battle the same problems we face today. There has to be a way to move forward without changing the ideals the country was founded on. Reps seem to only focus on the ideals not the problems at hand. But advertise that they want to change the future for the better. 

Oh...and "blame canada"

This is where we differ, I unlike many other don't think the outgoing administration caused many of the problems were seeing right now, I think they inherited most of them.

[RaptorRandy]

So, then what, praytell, are we paving the way for with a vote for McCain?

The preservation of the ideals this country was founded on by our forefathers. The liberal Socialists have no respect for our constitution or the ideals this one great country was founded on......granted the republicans are far from perfect, but they do believe in preserving the constitution far more than the liberal demos.

Look at Canada, they have had the liberals in control for what a 100 years? Now the last two elections that have voted in the conservatives....there's a good reason for that.

we have had the conservative (moron) in office long enough here. Sadly, alot of my opinion is based on the outgoing administration. McCain had too far an uphill battle. We will see next time around, I may be swayed.Right now: It is time for a change. I love the ideals of this country. Putting liberals in office won't change them. I agree on the party difference in saving the constitution, but that is not what it is about for me. Change is essential in order to survive. Our forefathers didn't battle the same problems we face today. There has to be a way to move forward without changing the ideals the country was founded on. Reps seem to only focus on the ideals not the problems at hand. But advertise that they want to change the future for the better. 

Oh...and "blame canada"

Hmm, IMO the Dems are the optimistic Idealists, wheras the Reps are the functional realists

+1

[Colorado700R]

So, then what, praytell, are we paving the way for with a vote for McCain?

The preservation of the ideals this country was founded on by our forefathers. The liberal Socialists have no respect for our constitution or the ideals this one great country was founded on......granted the republicans are far from perfect, but they do believe in preserving the constitution far more than the liberal demos.

Look at Canada, they have had the liberals in control for what a 100 years? Now the last two elections that have voted in the conservatives....there's a good reason for that.

we have had the conservative (moron) in office long enough here. Sadly, alot of my opinion is based on the outgoing administration. McCain had too far an uphill battle. We will see next time around, I may be swayed.Right now: It is time for a change. I love the ideals of this country. Putting liberals in office won't change them. I agree on the party difference in saving the constitution, but that is not what it is about for me. Change is essential in order to survive. Our forefathers didn't battle the same problems we face today. There has to be a way to move forward without changing the ideals the country was founded on. Reps seem to only focus on the ideals not the problems at hand. But advertise that they want to change the future for the better. 

Oh...and "blame canada"

Hmm, IMO the Dems are the optimistic Idealists, wheras the Reps are the functional realists

+1

I will say that my faith in this goverment stems for my belief that we need both to survive