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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:19 AM
Original message
Is anybody else watching Washington Journal?
Are u hearing the language the Republican is using about the mortgage crisis?

He's defending the new "financial instruments" he saying...That if we didn't have them poor people would not have the "opportunity" to buy a house. This let them buy with no money down. They had to pay higher interest rates because of the "risk" but at least they had a chance to buy. If you reform the mortgage industry, it will lock poor people out of their first house. He also said the re-set of mortgages to a higher interest rate is because, interest rates went up.

Aside from this being bullshit, what you are hearing is Adam Smith" language and it reminded me of something.

I remember a few years ago when the Rs controlled the Senate. Watching hearings on whether to de-regulate the mortgage industry. The Thugs were saying stuff just like what you are hearing this morning. "Opportunity language".. The Dem's were worried about predatory lending and the Thugs actually insinuated that they were racist.

Did anybody else see those hearings or am I just dreaming? And if they are in the C-span archives somewhere, wouldn't they make excellent campaign commercials for next year when the mortgage crisis peaks?
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leftchick Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:23 AM
Response to Original message
1. Mc Henry has connections to the Gay muder suicide in FL
the one that involved the RNC operative. Another repuke hypocrite.
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:30 AM
Response to Reply #1
7. I thought that was him. Thanx
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leftchick Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:35 AM
Response to Reply #7
13. I would love to hear a caller ask him about it
:)
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:36 AM
Response to Reply #13
15. it's hard to get thru to c-span. I think you must need speed dial!
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:53 AM
Response to Reply #15
17. Yep.. and you have to get lucky.. I've gotten through about 10 times
I always laugh when I hear people say, "I've been trying to get through for 25 years ".. :rofl:

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GTurck Donating Member (569 posts) Send PM | Profile | Ignore Thu Nov-15-07 07:55 AM
Response to Reply #15
18. C-Span
They have e-mail but why bother? To me it is an aggravating thing to watch all those sick, uneducated people who think calling a television program is the same thing as being a citizen.
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Atman Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:24 AM
Response to Original message
2. The subtle racism of low expectations that you'll be able to re-pay a loan...
...that you have no business getting in the first place.

.
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:33 AM
Response to Reply #2
10. The truth is, they probably could have paid if not for all the setups.
Re-setting to a higher rate no matter what. Balloon payments. Nobody can make balloon payments. If they have just got regular loans, they would be okay. The "risk" defense is just bullshit. They deregulated just so they could screw people.
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annabanana Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:24 AM
Response to Original message
3. They are "given" the opportunity to declare bankruptcy too...
The opportunity to sink any chance to develop real equity in something maybe smaller a few years down the road....
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:34 AM
Response to Reply #3
11. they got setup. I think we should make it a campaign issue!
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annabanana Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 08:33 AM
Response to Reply #11
21. You're right.. It was a shell game all along!. . .n/t
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proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:25 AM
Response to Original message
4. So they had an opportunity to buy homes AND to then lose them when they
couldn't make the payments? :wtf:
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bridgit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:27 AM
Response to Original message
5. yes, and those are the very kinds of 'mechanisms' that have wrought this failure...
upon America all over again = republican voodoo tinkering with the savings & loans of others
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:34 AM
Response to Reply #5
12. Adam Smith voodoo economics!!!
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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:28 AM
Response to Original message
6. Am I the only person who'd love a "Slap Patrick McHenry" line.....
Kind of like in the movie "Airplane" when they all lined up to slap the hysterical passenger?


He is a loathesome little prick. I can't stand him.
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bridgit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:31 AM
Response to Reply #6
8. um let me think for a minute no! McHenry = "a loathesome little prick" of the 1st order...
:thumbsdown:
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:31 AM
Response to Original message
9. I have been trying to get through. I wanted to compliment the republican guy
for managing to use most of the "buzz words' and to ask him if he got bonus bucks for every time he used them.. Sometimes, he used them in a totally inappropriate context.. It's like they all have buzz-word-tourettes when they get on tv.. they just blurt the words out..


lawyer
TRIAL lawyer
law suits
tax increases
free market
and many others too numerous to list


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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:35 AM
Response to Reply #9
14. LOL! I would have loved to hear that.
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rodeodance Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 07:43 AM
Response to Original message
16. the Dem had to correct him a lot and McHenry just sat there and grinned
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trof Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 08:13 AM
Response to Original message
19. McHenry is a real piece of work. Read this:
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JohnnyBoots Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-15-07 08:20 AM
Response to Original message
20. They legalized Loan Sharking for the mortgage industry. They
never realized that people wouldn't or couldn't pay up. It's not like they could go knee cap people to get money. You can't get blood from a stone. Some times I think that these GOPer's and corporate elites really think that money grows on trees and that everyone has plenty of it. 10-15 years from now we could really be looking at a bloody period in our history, much like the French Revolution in 1789.
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