Condi Rice top of Vice President list.

[_palerobber]

Because she's been successfully branded by the Left?

just like Romney.

[_Drifting]

Why is it that at the end of each bcspace posting about Romney or Obama etc I can 'see' the phrase....

"HEIL MITTLER"

...I wonder....

[_ldsfaqs]

Allen West is a better pick, the best of any actually.

[_Brackite]

I want Marco Rubio to be my Vice President. Marco Rubio would make a much better Vice President than Joe Biden.

[_ldsfaqs]

Why is it that at the end of each bcspace posting about Romney or Obama etc I can 'see' the phrase....

"HEIL MITTLER"

...I wonder....

Because as the normal liberal you are, you confuse Conservatism which is all about Freedom and CONSERVATIVE ideals, with liberalism, which is in fact Fascism in all it's various forms, to Communism, Nazism, Socialism, etc.

You don't see Conservatives taking away your right to a Big Gulp, like your New York liberal?
You don't see Conservatives doing a million and one fascist things that LIBERALS are the ones doing.

You are on the wrong side buddy, if you think conservatism is fascism.
You have been a gullible sheep brainwashed by liberal lies.

You are clueless to the fact that the "extreme" of the Right is NOT Fascism as you believe, but is in fact Anarchy. Just look at Ron Paul types. They are the "extreme" of the Right, and there isn't a Fascist bone in their body's. They are so far about Freedom, that they get too far into Anarchy.

[_ldsfaqs]

I want Marco Rubio to be my Vice President. Marco Rubio would make a much better Vice President than Joe Biden.

Marco Rubio is nice and all, but he is a child compared to the intellectual and moral giant that Allen West is.

[_ldsfaqs]

by the way, all you liberals out there need to read the book "Liberal Fascism" and learn something.
Don't be predictable and ignore it because of the Title. It gets into the full history of Fascism, that liberal history ignores and misrepresents, showing directly who the actual fascists are.

And FYI, I knew most of the information before I read the book, so you can't accuse me of bias.

Further, as I mentioned above. You don't see Conservatives creating millions of fascist laws infringing on basic rights, even the right to have a CONE with your ICE CREAM in California.

The recent housing crisis. Obama an his Admin among 1000's of other right infringing laws, created Real Estate and Lending rules that literally caused the housing crisis to DOUBLE in severity. People that wouldn't have lost homes and investment property's DID because of Obama and liberals. Further, it's liberals that created the housing crisis in the first place, by forcing standards on banks making them "loosen" their lending rules, thus creating millions of bad loans, which the banks then had to do something with, and thus the crash. You can only make poop smell pretty so long.... It's still ultimately poop. The government forced the banks to create poop, and the country getting pooped on was the result.

[_MeDotOrg]

...The recent housing crisis. Obama an his Admin among 1000's of other right infringing laws, created Real Estate and Lending rules that literally caused the housing crisis to DOUBLE in severity. People that wouldn't have lost homes and investment property's DID because of Obama and liberals. Further, it's liberals that created the housing crisis in the first place, by forcing standards on banks making them "loosen" their lending rules, thus creating millions of bad loans, which the banks then had to do something with, and thus the crash. You can only make poop smell pretty so long.... It's still ultimately poop. The government forced the banks to create poop, and the country getting pooped on was the result.

On July 8th, I wrote a post replying to the same allegations you make here, and specifically asked WHAT regulation you were talking about and HOW they caused or exacerbated the housing crisis. You chose not to respond.

I invite you NOW, as I invited you then, to give specific examples of the regulations that Obama was responsible for that caused or exacerbated the housing bubble.

My argument as to the causes of the bubble has not changed, not do I ask someone else's book to make it for me. I reprint it below.

Again, I ask you to respond, using your own words.

(Originally posted July 8th)

If you want to understand the housing bubble, ask yourself what the police ask when they visit a crime scene:

CUI BONO? Who benefits?

Not the homeowners who got loans they couldn’t afford. They lost what little equity they had when they defaulted on their payments.

What kinds of loans to poor people get? Sub-prime mortgages. What kind of loans do Mortgage Brokers love? Sub-primes, because they make the highest commissions, because they pay the most interest. Mortgage brokers LOVE sub-prime mortgages.

In the Bad Old Days, when we lived under the tyranny of Too Much Regulation, home buyers went to a Savings & Loan.The S&L did due diligence (checked your credit thoroughly). If you qualified, you paid your monthly payment, and in 20 years you paid pack the principle and the interest. Default rates were low, because S&Ls took the loss if you didn’t repay your loan, so they were sure to practice due diligence. This was a classic example of ‘moral hazard’ working in the marketplace.

Somehow America limped through this Stalinist Era with no stock market crashes, a low bank failure rate and a low mortgage default rate.

With the dismantling of different regulations (Starting with the Depository Institutions Deregulation and Monetary Control Act ogf 1980, and culminating with the Gramm–Leach–Bliley Act of 1999), home loans now were the cannon fodder for ‘financial instruments’. You now could get a loan with a home loan broker (Like Countrywide), who would sell it to a bank. The bank would then package your loan (or any PART of your loan) with other loans or parts of loans (including student loans, car loans and credit card debt) into a financial instrument called a derivative. (Because of the objections of the financial services industry, derivatives were unregulated). This particular type of derivative was called a Collateralized Debt Obligation. That CDO could in turn be sold to an investor anywhere in the world.

The problem was that the people making the loans were getting paid when they SOLD the loans, NOT for making sure the money was REPAID. They had no interest in whether or not the person getting the loan could repay it. They didn’t care about due diligence. They began making riskier and riskier loans. When someone couldn’t afford to make payments, they would LOAN them the money for the down payment, with very small payments for the first 5 years, then a HUGE balloon payment would kick in. The people making the loans knew this. They just didn’t care. They wouldn’t OWN the loan in 5 years, it was somebody else’s problem. In the parlance of the free market, there was no moral discipline.

Who benefits?

Everyone who gamed the system. Loan Brokers targeted new immigrants, because even though they were poor their credit scores were higher than poor people who had lived in the U.S. all their lives.

Investment banks bundled the loans of poor people with the loans of rich people, so that the AVERAGE credit score would be decent, even though the average score was not a good indicator of how many loans would fail. The rating companies were happy to help them with this deception, giving virtually all CDOs a AAA rating This meant these securities could be sold to pension funds.

In 2005 Henry Paulson, soon to be Treasury Secretary and then President of Goldman Sachs, lobbies the government to relax regulations on Investment Banks. The Government complies. Some Investment Banks are now leveraged as high as 33:1. (Which means they have more money to play around with, but if the value of their investment drops more than 3%, they're screwed.)

Another financial instrument helped the Banks game the system further. A credit default swap is an insurance policy you buy against the failure of a security. But unlike most insurance, you can buy a policy insuring the failure of a security YOU DON’T OWN. Imagine if there was a meth lab in your neighborhood and all of the homeowners around it took out fire insurance policies on that house. Bankers were, in effect, taking out insurance on their own meth labs.

The S.E.C., in its infinite free-market wisdom, decided that Credit Default Swaps were a good idea, and didn’t need to be regulated. A.I.G. started selling credit default swaps to anyone that wanted them. Because they weren’t regulated, they didn’t have to set any money aside in case they ever had to pay off. The brokers who sold the policies made millions.

Who benefits?

The banks started taking out policies on not only their own securities, but on other banks’ securities they thought would fail. When Lehman Brothers failed, they had over 400 BILLION dollars in CDS insurance from AIG. (AIG had over 6 TRILLION dollars in total Credit Default Swap insurance.) Treasury Secretary Paulson made sure that all of AIG’s insurance claims were paid off, including tens of billions to his former employer, Goldman Sachs. And the pension funds and private investors who actually bought the drek that Goldman and Lehman Brothers were selling? Not so lucky. They got nothing.

CUI BONO?

When the first group of sub-prime loans that had balloon payments came due, the default rate for mortgages spiked alarmingly. That is what precipitated the market panic, and caused Lehman Brothers (highly leveraged due to the lax regulations proposed by Paulson) and subsequently AIG to fail.

But if each bank or S&L owned each mortgage the way they did in the bad old days before deregulation, it would have been a relatively simple thing to say "Well just devalue the mortgages with balloon payments and isolate the problem loans. But THE OPACITY of CDOs made their value impossible to to accurately judge how badly a single CDO was infected. So ALL CDOs became suspect, and ALL CDOs lost vailue. (This has contributed greatly to the chaos of foreclosure hearings. When someone defaults, where is the mortgate? Part of it can be in one CDO and another part in another. )

Any decent cop looking at this crime scene would quickly figure out that the recent immigrant who took out the balloon payment mortgage was not the perp. He was the dupe, along with the person who ended up owning any part of his mortgage. The perps were the people who brokered the mortgages. the people who securitized the mortgages, the ratings agencies who profited from the fees they got for absurdly optimistic ratings

And they were aided and abetted by Congressmen, Senators and Presidents from both sides of the aisle, the SEC, Treasuy Department and all those didn't regulate adequately and didn't adequately enforce regulations.

That's the way I see it. Now let's hear, ldsfaqs, SPECIFICALLY which regulations forcing banks to lend to poor people caused the market to crash. Don't point me to another website. See if you can make your own argument yourself.

[_EAllusion]

Allen West is an absolute nutjob and functions as a commentary on the darkside of democracy when someone like him somehow manages to sniff power. He's essentially a symbol for how thoroughly the inmates have taken over the asylum in the GOP. It's kind of appropriate him, of all people, is ldsfaq's boy. He'll never be a VP pick though, as there's an endless string of crazy quotes to point out. He'd make Biden look as composed as Nelson Mendela.

[_palerobber]

Allen West is a better pick, the best of any actually.

why is it Republicans think that if they just elevate a token African-American to a prominent position it will somehow cause the rest of the nation's blacks to magically forget the last 40 years of the GOP not just completely ignoring their issues but actively stoking white racial resentment for political gain?

by the way, Allen West is a war criminal, convicted for violating the UMCJ and nearly court martialed -- nice pick.