This new 30 second commerical from Democrats For Principle Before Party shows just how irresponsible, reckless and out of touch with the real world, Obama really is and especially when it comes to the economy, economic responsibility and how his narcissim always comes first. The commercial is going to air for the first time next week in Pittsburgh and continue to run there and in other battleground states but how often depends on the amount of contributions received to air it.
There was a report yesterday that pointed out that only a few short weeks ago, before the economic meltdown then most financial observers are now calling a full stock market crash, Obama said in a speech that he thought it was a "good idea" to give mortgages to people who couldn't afford them -- which as everyone knows is the single act that caused this meltdown.
As usual, the New Nixon is now reversing himself once again, as if he has multiple personality disorder, pretending that isn't what he said or meant. Except the speech is there for everyone to see.
Long before the events of the last few days, but as the country was already in deep economic trouble and sliding into and even bigger crisis, Obama showed his judgement and what his priorities are really are as this commercial points out.
To contribute to its airing click the button below.
Posts
3 comments:
low interest loans to low income families is not NOT NOT what caused this. I was a recipient of one of those loans in the 90's. I know how they worked. They were only designed to get someone into a home and they accomplished that goal with thousands of people who have dutifully been paying down their debt for the last 10 years. they aren't in any trouble because the house they bought for 50K is now only worth 40K.
The problem that occurred was with unscrupulous developers and mortgage companies that LIED about the terms of the mortgages that they were selling to people. Predatory lending has been a problem for DECADES. There isn't one single $50k loan in this county that had anything to do with this cluster F**k.
The problem was with the originators who sold the loans to some other investor, grossly inflated the value OF THE PACKAGE OF HUNDREDS OF THOUSAND OF LOANS OVER AND OVER AND OVER AGAIN.
in addition, the developers were selling an inflated american dream to urban sprawlers who were desperate to keep up with the jone's. They sold them starter homes that were 3 times larger than they were ever going to need, even if they had 13 kids, and told them that everyone in the country wanted to live in this very cul-de-sac. They gave them a 15 year tax abatement that was worth a couple of thousand a year but sold them a half a million dollar home when they should have been looking at $150K homes.
Then the refinancers jumped on the bandwagon and told them to "go ahead, buy that Escalade! You can open an equity line!"
THIS DID NOT HAPPEN BECAUSE LOW INCOME FAMILIES BOUGHT 50K HOUSES IN THE INNER CITIES!
point the finger back to your neighbors who voted for George twice and patted themselves on the back because they weren't one of those scummy poor families that can't even afford to have a HumVee, a 2 acre lawn, a swimming pool, a 3000 square foot deck and a 52" plasma screen TV. The sprawlers were the ones who were financing their kids text messaging habit by borrowing against their 401-K's.
"low interest loans to low income families is not NOT NOT what caused this."
No one said it was low interest rates that caused this. It had nothing to do with interest rates. it had to do dangling a mortgage people couldnt afford in front of their faces, getting them to buy into something that their income couldnt support and then taking those risky mortgages and repackaging them as investments to others. when the housing market turned bad and these people couldnt afford their mortgage payments and their houses were worth less than what they paid for them it was cheaper to just walk away and the market collapsed.Big companies like Lehmans wrote insurance backing those mortgages that the investors paid for, but that they knew they could never make good on if the market went the other way which it did and the whole system collapsed. That is it in a nutshell. But it started with selling people houses and mortages that they couldnt afford in the first place. It had nothing to do with low interest loans.
With typical liberal narcissism, Obama thinks the Constitution is all about himself. This Barack Obama commercial uses the Arizona senator's own words to make him appear out of touch with the havoc wreaked by the Wall Street meltdown and therefore is accurate in its portrayal.
--------------------------------
new way to advertise
Post a Comment