Bush Predicted Housing Crash

[Gloria Admin]

Thank you so very much Barney Fwank, for still more of your astonishing stupidity!

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[Bob - The Beagle Master]

The Treasury Department auditors who went before Frank's committee did everything in their power to warn Franks and a black representative on the committee called them racists and bigots who were trying to keep poor blacks from buying homes.

Even McCain called for an examination of Fannie Mae and Freddy Mac and Senator Dodd told him he was crazy and both were sound. There was warning after warning from 2005 on and no one would take it seriously.

Isn't it strange that Dodd and Franks are the two running the bailout and recovery when they are the two who caused the collapse in the first place by refusing to listen to the warnings???? :icon_confused:

[TDL0352]

It's easy enough to tell that the Democrats are the ones to responsible. If they could have blamed anyone else there would have been Congressional hearings and independent councils all over the place just like they do whenever any Republican breaks wind. Their silence is deafening...

[John Sukey]

Now the same folks who couldn't run a whorehouse and sell whisky (Mustang Ranch)are going to run our health care:eek:

[UUURah]

I had to think about it too. Why are they not having hearings and investigating just how/why the financial crisis, which is credited with putting Obamma over the top, and just who is responsible?

Because THEY know who is responsible.

You know, I know, they know, we ALL know. Fwanks and Dodds.

[TDL0352]

Now the same folks who couldn't run a whorehouse and sell whisky (Mustang Ranch)are going to run our health care:eek:

And it's those same looters who can't even pass out other peoples money for junking older, and in some cases perfectly good, cars without putting their incompetence on display...

[John Kuhns]

And this all while Barney Frank and Maxine Waters were praising the leadership of Frankling Raines who by the way walked away with millions in his bank account as did Jamie Gorelick. And you all remeber what she was responsible for?

[PhillipM]

And it's those same looters who can't even pass out other peoples money for junking older, and in some cases perfectly good, cars without putting their incompetence on display...

...Thereby robbing the poor people they supposedly champion an affordable vehicle.

[Gloria Admin]

I didn't do these numbers, but they sound reasonable:

A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline.
A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year. So, the average clunker transaction will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles – so that's 224 million gallons / year.
That equates to a bit over 5 million barrels of oil.
5 million barrels of oil is about ¼ of one day's US consumption.
And, 5 million barrels of oil costs about $350 million dollars at $75/bbl.
So, we all contributed to spending $3 billion to save $350 million.
How good a deal was that ???

[UUURah]

Wondered when someone was going to bring this up. How gullible are the American guppies?

The compilation by SysAd is one scenario, I have more.

Sure, all these middle class and poor folks who had those 10 year old klunkers were paying X amount of dollars for their monthly gasoline. So they get these newer, smaller, less safe cars to pile their families into and now pay X-$50 a month for gasoline. Great, HUH???

But wait! They now have an additional $350 a month car note, pay much more for car insurance since those older cars only needed liability, and if they get into a 20 mph fender bender, the car is totaled.

Most probably had planned to get a newer vehicle within the next 6 months to a year, now they won't. Well GEE, just who is going to be buying cars in the near future? NO BUDDY. What does that mean?

It means that YOU and I will have to pay for another stimulus to save the car companies in that time. But that stimulus will only stimulate the future 6 month buyers to buy early. Get the picture?

WE will be paying to prop up the car companies from now on.