The Obama Popularity Myth (Winning by Default)

Congrats Karl, nice job of lying and trying to confuse people.

• The 2 conventions were closer together this year than ever before. Going in, Obama was leading McCain by 2-4 points, 2.5% in poll of polls.
• Obama picked Biden, and then went into his convention - then his bounce hit, but was stepped on by McCain picking Palin, and then the GOP foot tapping event in Minneapolis. Either way, the bounce is just that - after the convention the numbers bounce up, like a rubber ball, and thne go right back where they were.
• So Obama bounced up about 3 points, then that went back down at the same time as the Palin pick and the GOP conv. which swung things McCain's way 3 -5 points - so it went from Obama plus 2, to O + 5, then take away the 3 point bounce, and add in the McCain 3 pt bounce, you get where McCain was +1 - 3 for a couple of days. That then bounced back. To where we were, Obama +2 or so.
• Then the banking industry went in the crapper. It took down America's biggest insurer. And now the country is going into a recession, or maybe a depression. And that crystalizes things in voters minds.

Like, where were the government regulators?

Where are the laws to protect us?

What happened to my 401k?

So, what you saw as Obama riding the fence, that is what rational people call thinking, getting more information, and coming to the best decision.

What McCain did was first he he said now is not the time to place blame. Then in the next sentence he blamed the CRA, Obama, Biden, Fannie Mae, Dodd, and anyone else with a D after their name. The problem then became for the American people, who did screw up?

Sen. Obama has been in Washington 3 years, and working with a razor thin Senate majority and Pres. Bush, can pass no meaningful reforms.

Sen. McCain has been in Washington since 1983, deregulated the S&L's, banking, insurance, and was for Reagan's amnesty of illegals, and then wrote the latest amnesty bill.

Some facts on this crisis

• Obama wasn't even in the Illinois Senate when the CRA was passed,
• the CRA doesn't regulate 24 of the 25 biggest lenders that have failed in this crisis, so it can't be at fault for it.
• Fannie Mae and Freddie Mac don't do sub prime loans (by definition, they're conforming or prime loans, sub prime means below prime.) and they aren't the cause of the mess.
• The subprime arena of lending was the area that was created in the 90's, with GLB act. It was the wild west of banking, with very little regulation; the only regs involved were disclosure regulations, and HMDA tracking rules. Disclosure means that the lender has to give the borrower honest information, HMDA is the part of the application where the loan officer asks you what sex you are, what race are you, and are you hispanic. Beyond that, sub prime was unregulated.
• The credit default swap market was also created in the 90's, by Whiner Sen. Phil Gramm, and was also unregulated.
• Fed. Chairman Alan Greenspan had the authority, in the GLB act, to regulate these markets. He made a decision not to, because he thought the free market was better.

Now, most heck 98% of Americans don't know all these facts, and don't understand them, but they do know that the Republitards ran the congress from 1995 to 2006, and have run roughshod over the Democrats, forcing their vision of free markets, unfettered capitalism, anti gay marriage and flag buring amendments on the country.

That basic fact, that the Republitards have been in charge doesn't escape voters, and that is why they are going to get the biggest whooping since 1984. The biggest whooping by a non-incumbent for the Presidency since FDR, and the biggest Democratic majorities in the House and Senate since the 1930's.

KRove

The fact is Fakedrus will tell you everything is the "republitards" fault

He won't mention the "friends of Angelo" deals that the dumbocrats like Chris Dodd, Jamie Girelick et al received because that doesn't fit his blam Bush template.

He wont talk about Maxine Waters comment during the Fannie Mae/Freddie Mac  stating there nothing wrong. Or Bawny Fwank who said in 2003...

"These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis," said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.

All these dumbass democrats care about is destroying capitalism and inserting there form of socialism.

They have an unqualified candidate who will whisper sweet nothings in their ears and offer them more from the governmnet teat.

So bend over and grab your ankles and "hope" you have a little "change" left in 2012.

Postman,

On the friends of Angelo loans, lets go over this. 

I've worked as a loan officer (LO) for 8 years.

When you "sell" a loan, the LO gets the application, with the credit report.

Then they take out their rate sheet (or price it online) and qualify the application, and determine where it can get done.

Then

• at a broker shop- the LO decides 1- how much mark up they're going to make on the back end of the loan - and 2- how much they're going to charge in points on the front end.
• at a bank -  the bank takes their set mark up and set fees to charge.

Now, two different clients call me, on the same day. They have identical credit scores, similar loan sizes, similar equity for the refi.

1. Joe Blo off the street, who is kind of a jerk, and has a bitchy wife I can hear in the background of the phone call - who I'll need to deal with on each call to get every document for 2 weeks.
2. Bob, my neighbor and friend of 15 years, with a really nice wife, who makes a chocolate cake every couple of weeks. 

Which one is going to pay higher fees?

Which one is going to get a higher interest rate?

The LO determines what level of profit he wants to try to get, and more profit means higher rates, and fees. Add in that when we do it, we'd rather not deal with a-holes. So

So Sen. Dodd and Geirlick (whoever that is) got good deals; was there a quid pro quo? Like McCain's substantial deals with Keating and Lincoln S&L? I know other LO's who did stupidly cheap loans for famous people. Heck if I know why, but they do. I also know LO's who put the screws to their buddy from church, and a neighbor, because it was an easy sale, and the guy wasn't shopping him.

As for Fannie and Freddie, understand what they do:

from WIKI

Fannie Mae buys loans from mortgage originators, repackages the loans as mortgage-backed securities, and sells them to investors in the secondary mortgage market with a guarantee that principal and interest payments will be passed through to the investor in a timely manner. Also, Fannie Mae may hold the purchased mortgages for its own portfolio. By purchasing the mortgages, Fannie Mae and Freddie Mac provide banks and other financial institutions with fresh money to make new loans. This gives the United States housing and credit markets flexibility and liquidity.^[12]

In order for Fannie Mae to provide its guarantee to mortgage-backed securities it issues, it sets the guidelines for the loans that it will accept for purchase, called "conforming" loans.

The problem's came from the subprime loans cratering, lowering home values, adding more inventory of homes for sale, and more foreclosures. If sub prime homes make up 10% of a local market, and they drag down that area's values, that then bleeds up into the conforming market. See, home values are independent of the loan type.

2 cents, is it true that Fox News has been renamed Acorn News?

So, a non profit hires a bunch of homeless people to go out and sign up voters.

Some employees commit fraud to get bigger paychex, that Acorn has to correct, and point out the fraud to the state officials, and Republitards believe Mickey Mouse and Pepe Roni is going to illegally vote.

Wow, you people are stupid.

Oh wait, delicious update!

It turns out that one of the Presidential candidates was the keynote speaker at an Acorn national event thingy, in 2006.

Any guesses on which of the Senators it was?

Yep, McCain!

McCain is a big supporter of ACORN! OMG!

I'm waiting for Sean Hannity to begin blasting McCain for his involvement with such dastardly folks.

Fakedrus

By the way was the neighbor of 15 years with the wife who makes yummy chocolate cake also the head of the Senate Banking Committee?

Didn't think so.