Unemployment worse for blacks under Obama.

[108]

Originally Posted by gatorman_07732

This post indicates you not understanding what got us into a recession. Would you like me to post the proof that he warned congress what was going to happen? Talk about obtuse. All Obama did was throw money at a problem to give temporary relieve and kick the can down the road. The writing is on the wall that we are going back into a recession.

haha warned about Fannie & Freddie, yet both had a much much smaller percentage of subprime loans in their portfolios then their private counterparts...and a good percentage of the ones they had came very late in the game (2006) because they were seeking to maintain high stock prices during a very competitive housing market....wasn't to meet any gov backed requirements for housing goals

These late game decisions eventually contributed to the companies massive losses, but all this happened far too late to be a primary cause of the housing crisis.

[108]

Originally Posted by surfn1080

Show proof bush tried stop states. I put about 80% of the housing market crash on Clinton.

well you would be wrong

it's been studied multiple times, and the 'affordable housing goals' of Congress in 1992 had no observable impact on the volume, price, or default rates of subprime loans during the crisis.

Link

“Affordable housing goals may have introduced some distortions and created perverse incentives in the mortgage market but these were not the driving force behind the tremendous growth of subprime and Alt-A loans in the private market,” explains Cristian deRitis, a director at Moody’s Analytics. Fannie and Freddie pursued late what turned out to be the riskiest loans not to meet the affordable housing mandate, but instead “to increase profit,” as they were assumed to be higher yield,

As for Bush, read:

Link

Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government. Individually, and together, state attorneys general of both parties brought litigation or entered into settlements with many subprime lenders that were engaged in predatory lending practices. Several state legislatures, including New York's, enacted laws aimed at curbing such practices.

What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge? As Americans are now painfully aware, with hundreds of thousands of homeowners facing foreclosure and our markets reeling, the answer is a resounding no.

Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye.

[108]

so again, why would AA's choose a party that is still trying to stifle any legislation to regulate the entities that were at the heart of the economic crash that disproportionately hurt them?

i just shake my head that you guys are intellectually content with making such shallow correlations

[g8orbill]

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[DieAGator]

Originally Posted by rounds

The Mexican vote was a minor factor as most are not legal, but I get your point.

Not legal YET but the goal of the left is to legalize them and the Republicans are jumping on board to help.

Originally Posted by 108

so you wonder why they choose the D party, but why the hell would they choose an R Party who is hell bent on keeping the status quo for those who in large part, caused the crash, which leads to many on the bottom being disproportionately affected?

You don't know what you're talking about 108. Obama bailed out the people who caused the crash, that's what TARP was. Please don't pretend TARP was Bush's because the crash would have happened if Gore were elected as well. What matters is Obama came into office urging Americans to accept the TARP bailout for their own good. Want video evidence?

[g8orbill]

wow-thin skinned today are we