Economic Impact of McCain winning
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tjamz;244578 wrote:
I think I agree with you on this one. Lending to someone who shouldn't have received a loan, but was pressured into doing so by the likes of ACORN is one thing (democrats fault). Setting qualified lenders up with ARM loans w/o explaining the ramifications just so the mortgage broker could get their 1% loan origination fee is something entirely different (not the republicans fault by any means....I blame the lending institutions)True true.. But the point I was trying to make is that even us middle class people need limits.. Republicans called out the idea of sub-prime loans and had slightly foreseen the problems that could occur. Not knowing in detial what those problems would be, could not persuade enough against the measure. Therefore it passed... In this particular issue, both Democrats & Republicans had voted on the measure so it's basically a finger pointing process. But, IIRC it was a democratic majority that was voting on it. And it was also done during the Clinton term. I'm sure Bush would of probably veto'd it. But hindsight 20/20 & we can't ever really know for sure on if Bush would of or not.
Anyways, if you create too much lending, people get in too deep with debt. So spending is tight, and than when you add prices going up *(inflation) and high gas prices.. Now your maxing out credit cards & falling behind filiing bankruptcy & having your home foreclosed which the ripple effect is the banks failing...
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It was done during the Clinton era, but it was solidly republican backed (at first...passed overwhelmingly....McCain missed the vote as usual)
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tjamz;244611 wrote:
It was done during the Clinton era, but it was solidly republican backed (at first...passed overwhelmingly....McCain missed the vote as usual)Missed? Or Maybe was against it? That's definately debateable..
This measure was to help the middle-class.. It was highly more backed on the democratic side versus the Republican side.. We all know it was more-so the Democrats to blame, but not entirely..
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Parker;244654 wrote:
but most of all... your welcome for sugar.....OMG too funny!
fat ass...[/QUOTE]
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OMG too funny, parker is hilarious
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Parker;244760 wrote:
are you hitting on me via teh interwebz?He just wants you for your moneybeets.
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integra_gsr98;244763 wrote:
He just wants you for your moneybeets.What he said !! $$$$
/end sarcasm
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