Dem convention starts and...

[spence]

Originally Posted by afterhours

i'm confused, i heard a snippet of obama saying at the nc. that we have to stop them (?) from tricking families into bad mortgages? is this this same obama who worked with acorn? you know, the guys who pushed hard for mortgages to unqualified buyers? maybe i'm misinformed? spence- straighten me out

I believe what he actually said was...

We know that churches and charities can often make more of a difference than a poverty program alone. We don’t want handouts for people who refuse to help themselves, and we certainly don’t want bailouts for banks that break the rules.

You do know that earlier this year banks agreed to a $25 Billion settlement for reckless lending don't you?

-spence

[JohnR]

Originally Posted by afterhours

i'm confused, i heard a snippet of obama saying at the nc. that we have to stop them (?) from tricking families into bad mortgages? is this this same obama who worked with acorn? you know, the guys who pushed hard for mortgages to unqualified buyers? maybe i'm misinformed? spence- straighten me out

Originally Posted by spence

I believe what he actually said was...



You do know that earlier this year banks agreed to a $25 Billion settlement for reckless lending don't you?

-spence

Spence - he insinuates that the GOP is tricking into bad mortgages because "We" believe, than the other people don't

We believe that when a family can no longer be tricked into signing a mortgage they can't afford, that family is protected,
but so is the value of other people's homes, and so is the
entire economy.

DNC 2012: Obama’s speech to the Democratic National Convention (Full transcript) - The Washington Post

Read more: Transcript of Obama's speech at the DNC | Fox News

Don, ACORN, for all its many problems, wasn't a big factor in the housing crisis. Other community organizations perhaps...

[afterhours]

i guess i misremember acorn picketing for low income mortgages on bank presidents lawns.....
john- that was the quote i heard.

[JohnR]

Originally Posted by afterhours

i guess i misremember acorn picketing for low income mortgages on bank presidents lawns.....
john- that was the quote i heard.

They very well may have but they did not have as much to do with it as Congresscritters from BOTH sides of the AISLE in the pockets of lobbyists (Spence)

[spence]

Originally Posted by JohnR

They very well may have but they did not have as much to do with it as Congresscritters from BOTH sides of the AISLE in the pockets of lobbyists (Spence)

It's a convention speech, I'd expect a bit of hyperbole or it will be boring...and considering the deregulation the GOP has discussed, not that crazy of a statement to make.

-spence

[spence]

Originally Posted by JohnR

Spence - he insinuates that the GOP is tricking into bad mortgages because "We" believe, than the other people don't

It's really just a remark about regulation, the GOP opposed many of the reforms the democrats pushed through.

Don, ACORN, for all its many problems, wasn't a big factor in the housing crisis. Other community organizations perhaps...

There are some good articles on this, CRA influenced lending wasn't a big contributor to sub-prime defaults.

-spence