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snarkydude

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How well did the Fed's stimulus work?

@GaltMeister: You covered everything brilliantly!

posted @ Thursday, October 30, 2014 - 12:48

How well did the Fed's stimulus work?

@dahreese: Banks were told that if they did not make loans to subprime customers (minorities, in particular) that they would face sanctions under the CRA. Ask a banker old enough to have been in banking then. I have.

Why did the big banks want Glass-Stegall repealed? These banks (major contributors to any party in power) were NOT going to hold these subprime mortgages in their portfolios, because they knew these people couldn't/wouldn't pay their bills. (If you have any experience with people who have sorry credit, you know WHY they have sorry credit.)

Since the banks put so much money in the pockets of our politicians, there had to be a way for them to dispose of these mortgages. Repealing Glass-Stegall was part of that. IF your darling Clinton had given a damn about the poor, who are supposed to be the beneficiaries of Democratic policy, he would have vetoed repealing a law that FDR PUT IN PLACE AFTER THE GREAT RECESSION TO PREVENT JUST EXACTLY WHAT HAPPENED FROM HAPPENING AGAIN.

Banks used to "red-line" areas in which they would not make home loans, because those areas had such a history of poor performance. The CRA forced banks to make those loans. You go find a banker who was in business then, and you'll see I'm "telling it right".

You don't have to mislead people to sell used cars, you know......but you can be a government employee and do absolutely NOTHING and still get a paycheck.....you know.

posted @ Thursday, October 30, 2014 - 12:46

How well did the Fed's stimulus work?

@mpd0.59: The fundamental question remains, did the liberal, social-engineering policies of the Democratic party plant the seeds, and allow this type of situation to occur? GWB warned Congress no less than five times that Fannie and Freddie were unstable, yet he was hampered each time by Chris Dodd and Barney Frank, because the "free-money, everyone gets a house whether they can afford it or not" policy helped buy votes for the Democrats.

The economy always (to date) recovers over some period of time, because people have to go on living, buying groceries, clothes and other items. I contend that it would have recovered faster had Obama and the Democrats spent the stimulus money more wisely, and not used that money as a "thank you" to their supporters. Can you name anything of value that came out of that stimulus money? Any national parks? What were all those "shovel-ready" jobs supposed to do, and why did they not appear?

Recessions come and go, but this last one was clearly caused by the government's meddling in the housing market for the purpose of buying votes from people who were ignorant of financial processes, and those who sought to exploit that ignorance for their own political gain.

posted @ Thursday, October 30, 2014 - 12:38

Nurse defies Ebola quarantine in Maine

This is the reason we do not need to admit anyone from any of the affected countries unless they have already been through a 21 day quarantine. More of this "I'm special, I have my rights, to hell with everyone else" attitude. Quarantine them prior to returning to the states, or don't let them in.

posted @ Thursday, October 30, 2014 - 12:27

How well did the Fed's stimulus work?

@dahreese: No, I'm talking about those people who make scads of money trying to convince us that "climate change", or "global warming" or whatever they want to call it this week is an actual crisis. Democrats HAVE to have a crisis, you know. Never let a good crisis go to waste.....

I'm talking about all those rich CEO's who funnel money to whichever party is in power. The compliant Democratic media outlets have managed to convince you, and a lot of other people who have no knowledge of the business community that all rich people are Republican. Obviously, you didn't read my post.

Please tell me which president signed NAFTA, and allowed all those jobs to be sent to other countries?

If you are paying a premium, and your deductible and co-pays are such that you're paying out of pocket anyway, what good is an insurance card in your pocket doing you? If your policy skyrockets, or is cancelled, are you insured? Look at the number of people who are STILL uninsured. What good has your Obamacare really done?

There you go with that "ignorant" word again. I guess it's easy to be jealous of others when all you've done all your life is collect a government check for showing up.

posted @ Wednesday, October 29, 2014 - 17:42

How well did the Fed's stimulus work?

@mpd0.59: the bailout of GM, done by suspending normal bankruptcy laws to protect the unions at the expense of stockholders, was totally done under the Obama administration. GM's domestic sales have been almost totally supported by subprime customers through it's subprime finance company, GM Financial. Same with Chrysler. Look around you and see who's driving new GM and Chrysler vehicles. You are correct about TARP being started under Bush.

Unemployment figures do not accurately reflect the number of people who have quit looking, and those who are under-employed. The Obama administration changed the metrics to make the figure look less daunting.

The primary beneficiaries of the QE money have been the big banks and brokerage houses, who had a large part in causing the crash. The POLICIES of George W Bush did not cause the recession. The recession was caused in large part by banks being forced to make risky loans to comply with the provisions and government prodding under the Community Reinvestment Act. The banks would not make those loans if they had to keep them in their own portfolios, so your darling Bill Clinton got the Glass-Stegall act repealed so that those mortgages could be packaged and sold as sound investments.

You will remember that prior to the CRA, you had 20% down, went to a savings and loan or your bank to borrow the money (mortgage brokers were unheard of), or you got a 3 1/2 % down payment loan through FHA or the VA. You could also assume a loan. All of that evaporated with the CRA. Banks were told to make loans to customers with poor credit, or risk being in violation, because many of those denied loans were black. (Again, more of the liberal mantra that if you can't cut the mustard, we'll move to goalposts closer together. To hell with whether or not it makes financial sense if it buys votes.

The biggest threat to our economy is the increasing number of people who depend on the labors of others for their support. Democrats increase the welfare state to buy votes and stay in power. At some point in time, the weight of the moochers will collapse the system.

posted @ Wednesday, October 29, 2014 - 17:36

Hull man hospitalized after shooting

@melquiades: The one problem with your hypothesis: those who want to commit crimes will get guns anyway.

Violence, including gun violence, is a huge problem in the poor community, not just the black community. Nobody really cares about this violence, until it reaches out and touches those who AREN't part of the poor community, as I have noted here many times before.

Those on the left rarely make any statement about gun violence unless it involves a white, middle-class person who goes on a rampage. You NEVER see any of the key figures on television challenging the poor community to clean up its act. When you do see someone, such as Bill Cosby, take his people to task, it creates a firestorm because no one in that community wants to hear the truth. You only hear from Jesse Jackson, or any of the other race-baiter organizations, when they can widen the divide between black and white for their own advantage.

We make it way too easy to be sorry in this country. We subsidize sorriness, and we have become de-sensitized to sorriness. We accept sorriness as a daily course of doing business.

Our welfare system has played a large part in creating this culture of failure and dependency. We have, by example, taught a portion of our society that they do not have to take responsibility for their own actions of any kind, and that there is very little in the way of accountability when they do cross the line into criminal activity. Have more children than you can support? No problem. Shoot across a parking lot because someone "disrespected" you? No problem. Your part of society does not hold you accountable, and when someone else does, you claim "your rights are being violated".

People whose upbringing pre-dates the welfare system in this country know that there was a different standard of behavior, and that people of all walks of life had more self-respect and respect for others. Sorriness was shunned, and those who participated in sorry behavior were shunned as well. You may not agree, but that doesn't make me incorrect.

posted @ Wednesday, October 29, 2014 - 13:00

How well did the Fed's stimulus work?

@dahreese: You like to post things for people to read. Please read the following excerpt from an article I found:

"-- Democratic super PACs continue to attract more money than their Republican counterparts, due in part to a huge amount of support from deep-pocketed mega-donors.

Overall, 81 individuals, organizations or families have given $500,000 or more to super PACs between January 2013 and June 2014, totaling $161.6 million for November's midterm elections, according to a review of Federal Election Commission records by The Huffington Post. These contributions accounted for 52 percent of the $311 million raised by super PACs during that time.

Donors solely giving to Democratic groups dominated the upper echelons of super PAC giving. A total of 44 mega-donors gave only to Democratic groups, while another seven gace to both parties' super PACs but tilted their support toward Democrats. Republicans received the support of the other 30 mega-donors.

Democratic super PACs received $109.6 million from mega-donors after 18 months of the 2014 election cycle, while Republican groups received just $45.8 million. Two independent groups -- the National Association of Realtors and the Cooperative of American Physicians -- gave a total of $6.1 million to their respective individualized super PACs.

Tom Steyer, a former hedge fund executive turned environmental activist, led all super PAC donors by a wide margin. The San Francisco-based billionaire had given $20.7 million to super PACs by the end of June. All but $5 million of his giving went to his own super PAC, NextGen Climate Action Committee. The rest went to Senate Majority PAC, a group dedicated to protecting the Democratic majority in the Senate.

The list of the top 10 super PAC donors tilts heavily toward Democratic backers. Steyer was followed by former New York City Mayor Michael Bloomberg, the Democratic Governors Association, the National Education Association, Chicago media magnate Fred Eychaner, the AFL-CIO, the United Brotherhood of Carpenters and Joiners, financial executive Paul Singer, Senate Majority PAC and the National Association of Realtors."

That article is not from Fox News, or any other conservative publication or news outlet. It was posted on 7/23/2014 in the Huffington Post. Tell me MORE about those rich, evil conservatives who "get all they can, and can all they get".

Also....this Fed program, had it worked the way it was supposed to work.....well, it's TRICKLE DOWN ECONOMICS. Money was supposed to flow down from the big banks to small businesses. That's what they had in mind, I thought all of you liberals didn't believe in trickle down economics. That was supposed to be "voo doo" economics. Well, why was that the intent of the Fed, then?

Liberals.....royally screwing things up until a conservative comes along to straighten it out, and then complaining about it when they do. You guys are just on the wrong side of history every time.

posted @ Tuesday, October 28, 2014 - 18:24

Young dreamers need education, not expulsion, former Homeland Security chief says

[quote][b]dahreese[/b] - The above said, this nation can't, for logistical reasons, just open the gates to the world and say, "Y'all come!"
This mess was caused by "American corporations" (Wall Street) looking for cheaper labor and increased profits at the expense of the welfare of this nation - the same corporations that have sent their manufacturing into third world countries for the same reasons.
[/quote]

You mean....those same corporations who are big donors to Obama and the Democratic party??

posted @ Tuesday, October 28, 2014 - 14:38

Young dreamers need education, not expulsion, former Homeland Security chief says

These kids are here through the fault of their parents. Many of them have no knowledge or experience in their country of origin. That said, they are still here illegally, and to just allow them to stay with no requirements or conditions is grossly unfair to those who have applied legally and waited their turn to come here.

To that end, I think the following is a reasonable solution: To be granted a green card and have status as a legal immigrant, the individual should be required to:
1. remain out of the criminal justice system for five years before applying, and five years afterward.
2. enlist and complete a two-year hitch in one of the armed services.
3. have proof that they either have a job, and are filing a tax return, or be enrolled at an institution of higher learning.

I don't think it is unreasonable that we expect people who come here to contribute to our country, and prove that they are law-abiding, productive citizens. We don't need anyone else looking for a handout. We have enough home-grown people like that already.

posted @ Tuesday, October 28, 2014 - 13:42

Policeman who asked to smell woman's feet arrested

If all he wants to smell are her feet, he needs to be locked up.

posted @ Tuesday, October 28, 2014 - 12:57

How well did the Fed's stimulus work?

"In reality, much of the money never saw daylight. When the Fed bought bonds from big banks, it gave them an electronic credit on their accounts at the Fed. Starting in the financial crisis, the central bank paid interest on those reserves, so big banks could just sit on the money. Excess bank reserves soared from $800 billion at the start of 2009 to $2.7 trillion today."

Exactly.....and who benefited from this program? That "1%" that the Democrats keep yelling about...those evil rich people......who donate heavily to the Democratic party. Goldman Sachs has given the Clintons alone almost $3 million in recent years. And you libs think Republicans are the problem.

posted @ Tuesday, October 28, 2014 - 12:54

Four indicted for home invasion at student housing complex in south Athens

@OconeeJoe: I've seen the military turn a lot of guys around. They can become killing machines on their own, just by hanging around the Iron Triangle. I'd rather invest in the chance that a stint in the Marines might make men out of them, than invest in the certainty that a stint in prison will make them career criminals.

posted @ Tuesday, October 28, 2014 - 12:47

Georgia investment adviser sentenced to 30 years in prison

"Restitution" is a complete joke. What the court needs to start doing, is seizing assets from these individuals, and selling them at auction. The IRS does it, so there's no reason the courts can't do it, too. That money went somewhere, and you can't spend that much money on drugs and strippers. It went to homes, cars, clothing, TV's and electronics and the like. Sell everything down to the bare walls, including the toilet paper on the roll in the bathroom. And, I don't want to hear any whining about "what this will do to his family". His family benefited from the proceeds of his illegal activity. Sell it all.

posted @ Tuesday, October 28, 2014 - 12:44

Lusane: Racial politics and the Ebola epidemic

Yes, when you criticize incompetence, and the administration's desire to politicize any and everything, you are a racist. It can't be that you question the motives of this administration. It can't be that you question the truthfulness (like they have been truthful about anything at all in six years) of this administration, any criticism of any kind must be racist.

Why, you ask? The answer is simple. The administration cannot defend its lack of truthfulness. They can't defend their policies. They can't explain why people coming from infected areas are allowed to self-evaluate and supposedly self-quarantine, and can't justify this policy when the people in question fail to do so. We're supposed to believe that the administration knows best, when the common-sense approach would be to require anyone leaving one of the affected countries to be quarantined for 21 days before leaving that country. We're supposed to have faith in the talking heads from the CDC, when their response has been weak, and their initial protocols deemed hazardous.

Let's be very honest here. This administration has lied to us again and again. They milk every controversy and calamity for every political morsel they can, and NOW we're supposed to take it on faith that they know what they're doing, and do so without questioning ANYTHING??

If you do, you're a racist. Why not. It's worked on every issue that anyone has called the administration's hand on so far.

posted @ Monday, October 27, 2014 - 17:39

Deal, Carter face off in tense Georgia governor's debate

The Republicans have controlled Georgia since 2002. The Democrats controlled Georgia for 138 years prior to 2002. At what time, in any category, was Georgia ahead of where it is now, with the exception of unemployment, and that figure has more to do with the stagnant national economy (again, under Democratic control) than anything a governor might be responsible for, regardless of party.

Did our students score higher on achievement tests prior to 2002? Spending more money on education is pointless, unless you have a plan to put more classroom teachers where they are needed, and spend less on administrators, whose principal job is one of making excuses for poor performance.

Find a Democratic governor who has enticed more jobs into the state than Republicans have brought into Georgia. Keep in mind, I'm not a fan of Deal, and he was not my choice, but I want to see numbers on how and where the Democratic party has done a better job.

Were our Democratic governors more ethical in their dealings? Lester Maddox was the only governor to come out of office with a smaller net worth than he had when he went into office. Did Carter's grandfather run a cleaner administration? Remember Bert Lance?

So, I ask anyone who has the intestinal fortitude to reply: tell me why I should vote for Jason Carter, who has NO experience in managing anything, and did not even pass a single bill during his brief tenure as a state senator? Should I vote for a tax increase? Should I vote so that someone else's brother in law can get state contracts?

The post-Bill Clinton Democratic party in Georgia has a miserable record of achievement. They have given us Cynthia McKinney and Hank Johnson. They have given us several mayors in Atlanta who have either been crooked, or allowed crooked practices to go on under their watch, while the city's infrastructure has crumbled around them.

So, tell me, any Democrat reading this......why should your party have a chance at running things now?

posted @ Monday, October 27, 2014 - 15:55

Hull man hospitalized after shooting

[quote][b]Auntylib[/b] -
The left does not care about the quality of life. The left does not engage or embrace people of color except for photo-ops.
The left wants to keep the Black vote.
[/quote]

You're right, of course...on all counts. The left only gives lip service to any given group, as long as they can keep them in victim status and count on their support to stay in power. You don't see the left cozying up to people of Asian descent, because the Asians for the most part are self-sufficient people, and don't need government handouts. Ditto for people of Indian or Pakistani descent. Successful people do not fit well into the model for socialism.

posted @ Monday, October 27, 2014 - 12:47

Four indicted for home invasion at student housing complex in south Athens

Give each the choice of going to prison for five years, or enlisting in the Marine Corps for five years. Let a kindly old drill instructor get his hands on them for a few weeks in basic training. I know it's not like it was a few years back, but I'd almost guarantee you that the Marines would make men out of these punks.

posted @ Monday, October 27, 2014 - 12:38

Gunman in Canada attack complained about mosque

@mpd0.59: I understand that GWB was trying to do his best to prevent violence against Muslims in this country after 9/11. That said, Muslims have had thirteen years to speak out against the radical element that gives them a bad name. You think you would be hearing condemnation from every mosque and in every newspaper, but you do not. Islam needs to clean up its act, or face being shunned and marginalized by the rest of the world.

posted @ Monday, October 27, 2014 - 12:20

Hull man hospitalized after shooting

All right, kiddies....it's time for the Hypocrisy Question of the Day....

There are hundreds of crimes committed in the black community every day that have to do with firearms, from simple assaults, to murders, yet those on the left are strangely silent. The only time you see the left up in arms is when a white person commits a crime with a gun.

We can draw several conclusions from this silence:
1. the left doesn't care how many blacks are killed or injured daily by firearms.
2. the left is only concerned about controlling firearms in the hands of white people (God, guns, and religion, you know.)
3. the left is forbidden by the rules of political correctness from criticizing blacks for any transgression whatsoever.
4. gun violence in the black community is so common, that it is no longer newsworthy except as a line item on the six o'clock news, so there is no shock value for the left to exploit.

So, kiddies, the question for today is: why is the left not outraged about gun violence in the black community, as it is outraged by gun violence committed by a white person? Submit your answers today, and there will be a quiz tomorrow.

posted @ Monday, October 27, 2014 - 12:14

Gunman in Canada attack complained about mosque

@yeti: Exactly.....and I've said this for a long time. IF....the world of Islam wants to have any credibility whatsoever, they need to come out and take a very strong stand against the people who are committing these violent acts in the name of Islam. The problem is that you hear........nothing.

NOR have we heard anything from the White House, either. The hatchet killer in NYC had a facebook page full of Muslim rants, but we've heard nothing from the White House on that incident, and we were told that the Ft. Hood gunman was just "workplace violence", although he yelled "Allahu Akbar" while shooting soldiers.

I liked GWB's statement, "you're either with us, or against us". I'll take it one step further: "you're either part of the problem, or part of the solution". I don't see a big difference in the lack of condemnation by rank and file Muslims, and the lack of condemnation by rank and file Germans prior to WWII. If Muslims want us to believe that they are a peaceful religion, they need to do something about the people who commit horrible acts in the name of their religion.

(I personally do not believe that Islam is a peaceful religion. I believe that it is a cult bent on world domination, just like Nazism, and that they will use any means possible to achieve that goal. I do not think they will stop until they are destroyed. Just my opinion.)

posted @ Saturday, October 25, 2014 - 12:30

UGA frat members won't face criminal charges in alleged hazing incident

@OconeeJoe: Exactly!!! And, an "anonymous parent" called? If I was concerned about my child, I would gladly give my name. What do you want to bet that this caller was not a "parent" at all?

Fraternities, sororities, and all types of other organizations do all kinds of stupid things for initiation that do not rise to the level of criminal activity. Nobody forces anyone to join, or take part in any of these activities. Each person has a brain and two feet. If they don't want to take part, all they have to do is walk away. My uncle joined an organization of veterans years ago, and one of their activities was to blindfold prospective members and then make them drink from a big washtub of water. They were then allowed to lift the blindfolds, where they saw the tub filled with Baby Ruth candy bars. In the dim light, you can guess what they thought those candy bars were. Nobody got hurt, and everyone later had a big laugh about it.

People need to get over being so damned anal about everything.

posted @ Saturday, October 25, 2014 - 11:21

Dallas nurse receives thanks, hug from Obama

More namby-pamby, feel-good crap from a do-nothing president.

posted @ Saturday, October 25, 2014 - 10:59

Debate over compromise shapes Georgia Senate race

As long as Obama is in office, and Harry Reid remains in power, no compromise is possible. There are almost 400 bills passed by the House, many with bi-partisan support, that have never seen the light of day in the Senate. If this administration WANTED compromise, they would have made compromise happen. Their goal has always been "my way or the highway", and to make it look like Republicans were totally responsible for the gridlock. To date, they have done a fine job of that.

Michelle Nunn will have little to no effect on anything in Washington. As a junior Senator, any influence she may have will be minimal. If you want things to change, the Republican party must gain control of both houses of Congress. That is the only way to stop this march toward socialism and mediocrity.

posted @ Saturday, October 25, 2014 - 10:42

After 1st Ebola case in NYC, 3 others quarantined

We need to get serious, and stop letting people come into the country, without first going through a 21 day quarantine period. Are we going to let liberal political correctness allow a deadly contagious disease like this to gain a foothold in this country, because the president doesn't want to offend his black voter base, and because he thinks it will add fuel to those who are calling for him to enforce immigration laws? Obama needs to start protecting American citizens first, and worrying about Democratic dogma later.

posted @ Friday, October 24, 2014 - 14:57

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