ADN

in an ad for John McCain, no less.

http://www.youtube.com/watch?v=r2RZ0sUcVcE&feature=user

Well...I wouldn't go that far...

Besides, we all ready read the bill he sponsored, it wasn't even aimed at preventing the current situation in the least...For McCain to imply or suggest otherwise is typical of the rest of his ads...I work in the finance industry, I ain't never seen or heard of Fannie and Freddie writing bad loans...

Kumicho wrote:Well...I wouldn't go that far...

Besides, we all ready read the bill he sponsored, it wasn't even aimed at preventing the current situation in the least...For McCain to imply or suggest otherwise is typical of the rest of his ads...I work in the finance industry, I ain't never seen or heard of Fannie and Freddie writing bad loans...

Ty, tell the truth. Never?

I know you seen someone get a loan that they ain't got no business getting.
Right now, I only know one person who did, and she is taking care of it herself. She would have had the money for it except the Death Tax and expenses on her inheritance. Now she is moving and got the house at bids about 3% less than what she needs to come clean. But lots of other people had no business getting loans, and this did start as an affirmative action initiative in the Clinton Administration. Banks were required to actually make sure each demographic was covered in their loaning practices. In Cali, though, it was rediculous.

http://www.takimag.com/site/article/the ... e_housing/

TJ had his house note in his cat's name with his ex girlfriend's SSN.
They didn't even check!!!
(funny as hell, though... until the market goes to hell.)

And like it or not, but the people who spoke out against it included John McCain.

Shit, I dont' have a reason to lie...I wish I HAD wrote a few of those bad loans; I probably wouldn't be in the situation I'm in now...The people writing and doing all these bad loans KNEW they were bad loans, and put food away for the winter...Trust me, this fallout has been kept very quietly up until now...

None of the banks we work with has been associated w/writing these bad loans...

And when I say bad loans, I'm saying...Bad as in, not showing proof of income, bad...We're talking bad, like, show us a Driver's License and a phone bill with your name on it, Bad...Fannie and Freddy execs were cautious of this, as your article points out...Yet, it continued...

John McCain spoke out about mismanagement and a need for regulation of Fannie and Freddy execs, again, it had absolutely nothing to do with the lending crisis, those are two separate things...He was looking at something entirely different...

Your Article Source wrote:Thus, in a 2004 address to home builders, Bush called for the Federal Housing Administration to issue zero down payment mortgages in order to aid 150,000 first-time buyers per year, saying,

http://www.whitehouse.gov/news/releases ... 809-9.html

That right there, is what he should have spoken out on, if not the similar stances of the administrations prior to...Again, the man has been in Washington for forever...That article you sourced gives a side of it, McCain hasn't sponsored true regulation or reform of the markets, that's why the campaign isn't trying to harp on this...Digging for information will hurt them...

Sound policies are needed, not ineffective regulation.

As far as you, I bet you are cleaner than the rest of the housing finance people with the lack of bad loans as you defined them, but that is because you take pride in your work.

Part of this, as much as you may not like it, has to do with equality. When ABS commited to diversity and used an affirmative action stance with their mortgage portfolio, pressure was on Freddie and Fannie; who were hit with a pressure to diversify the demographics of their own issuance of mortgages. Clinton, under duress, agreed to a similar allowance for bad risk debts to preserve the imposed ratio of minoritites and low income families buying homes. Part of his "budget surplus" comes from practices like theis that not only never did materialize, but actually never COULD. That first demographic stance was imposed by Jimmy Carter.

Shouldn't we really remember the initiative that "every American should be able to get a home loan, regardless of income or ability to pay." was a stated initiative of Jimmy Carter - that had gotten way out of control.

Every President since Carter (actually L.B.J.) has had a hand in this.