Title: Obama Voter Tells Him (To His Face)'I'm Exhausted of Defending You" (VIDEO- ROTFLMAO) Source:
Theodores World URL Source:http://www.theodoresworld.net/ Published:Sep 21, 2010 Author:staff Post Date:2010-09-21 13:06:29 by Murron Keywords:None Views:70248 Comments:86
Obama Voter Tells Him (To His Face)'I'm Exhausted of Defending You" (VIDEO- ROTFLMAO)
September 20, 2010
Obama spoke at a townhall meeting today in Washington D.C. when this woman expressed her disappointment in the Obama Administration. Notice how the president laughs off her comments.
"I'm one of your middle class Americans. And quite frankly, I'm exhausted. Exhausted of defending you, defending your administration, defending the mantle of change that I voted for," a woman told President Obama at a town hall. From New York Times
She described herself as a chief financial officer, a mother and a military veteran said she was disappointed that Mr. Obama had not lived up to her once-lofty expectations.
“I’m exhausted of defending you, defending your administration. … I’m deeply disappointed where we are right now,” she said, adding that when she voted for Mr. Obama, she thought he would change Washington. “I’m waiting, sir. I’m waiting. I don’t feel it yet. … Is this my new reality?”
Moments later, a young man offered a similar theme. He noted that the president had ignited a wave of inspiration for young people and students.
“That inspiration is dying away,” he said. “It feels like the American dream is not attainable for a lot of us. … Is the American dream dead for me?”
Together, the comments reflected the erosion of support among the constituency that swept Mr. Obama into office in 2008. And both were rooted in concerns about the struggling economy and its impact on future generations.
Obama told both attendees to remain hopeful. He defended his administration’s efforts to increase money for student loans, impose new laws on credit card companies and insurance companies, and stabilize the economy.
“I am confident that the American dream will continue,” Obama told the young man, adding that “there is not a country in the world that would not want to change places with us.” He told the woman who said she was disappointed that “there are a whole host of things that we have put in place that do make your life better,” but he quickly cautioned, “I understand your frustration.”
“My goal here is not to convince you that everything is where it needs to be,” Mr. Obama told her. “But what I am saying is that we are moving in the right direction.”
Women are easily fooled as they are emotional thinkers.
Fools, and the easily fooled, come in all genders. It seems to me that this is a woman who is in his face, not a man, and she did it eloquently, and with class!
If you think emotion has no place in the way people feel today about this man, or his administration, and how it's tearing this nation apart, then you are just as cold, and heartless as that POS who laughed at her. jmho!
"I really wanna care. I wanna feel somethin'. Let me dig a little deeper:. No, My give-a-damn's busted"~ Messina Jo Dee
Fools, and the easily fooled, come in all genders. It seems to me that this is a woman who is in his face, not a man, and she did it eloquently, and with class!
True, there are many men, like War, who are emotional thinkers.
Also, the woman was a plant.
I guess you're an emotional thinker for not spotting that Murron!
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
True, there are many men, like War, who are emotional thinkers.
Thanks for the PING dipshit.
Remind me again how a Boy Blunder policy in 2008 was the fault of Obama. Remind me again how FNMA purchasing HFC loans without the knowledge of their overseer was Obama allowing them to do so. Remind me again how HUD changing the rules in 2004 was the fault of Clinton and Cuomo.
HUD authorized FN/FM to purchase sub-prime mortgages of a very narrow type that actually converted to prime loans with a 3 year payment history. What the Voice article claims as fact - that Clinton's HUD allowed FN/FM to include non traditional exotic loans is 100% false. IN fact, HUD in 2000, told FN/FM not to purchase those loans and that any previous purchase were not to be included as subprime on their balance sheets.
Indeed, in March 2000, HUD had acknowledged that the new goal-driven pressure on the GSEs might "warrant increased monitoring and additional reporting." But when the final rules were adopted in October, that momentary caution had been abandoned: "HUD is not establishing any requirements for additional data to carry out this rule." The report explained that the GSEs "objected" to information mandates "related to their purchases of high-cost mortgages," so HUD decided against imposing "an undue additional burden." HUD would have no way of telling how abusive the low-income mortgages it was mandating might be.
Regardless of HOW HUD required the GSE's to report - which is what your above paragraph outlines - it issued strict guidelines as to what it could purchase.
Regardless of HOW HUD required the GSE's to report - which is what your above paragraph outlines - it issued strict guidelines as to what it could purchase.
Even IF that were the case, Clinton and Cuomo set the precedent for the GSEs to act as rogue agencies through a purposeful lack of oversight. What good are standards when you have made it clear they won't be enforced?
That's an unsupported assertion and even if it were shown to be true, the subprime crisis began 5 years into your hero's term of office.
And since your assertion relies on the fact of HUD's regulatory authority over the GSE's then you underscore my long held contention that the regulatory apparati of the Boy Blunder regime had long gone on a Soma Holiday.
Meanwhile, back at the ranch, Owe-bama's staunchest defenders are becoming more disenchanted with his administration with each passing day, month and year.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
"What there is evidence of is Bush pushing for GSE reform"
(Bush) White House warned about Fannie and Freddie
September 23, 2008
For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Another lie Paddy. I posted HUD's study of GSE's and subprime financing with their plan for allowing them to move away from the conservative guidelines of the Clinton administration purchases here not once but twice.
"Subprime lending ;originating mortgages to relatively risky borrowers expanded during the 1990s. Market analysts estimate that lenders originated about $160 billion worth of subprime loans in 1999, up from $40 billion in 1994. A number of factors accounted for this growth: federal legislation preempting state restrictions on allowable rates and loan features, the tax reform act of 1986, increased demand for and availability of consumer debt, and an increase in subprime securitization. It is noteworthy that subprime lending grew in the 1990s largely without the assistance of Fannie Mae and Freddie Mac, the two Government-sponsored enterprises (GSEs) which purchase and securitize mortgage loans. This pattern will change. Both Fannie Mae and Freddie Mac have announced that they plan to increase their subprime mortgage purchases. Though the GSEs currently only purchase about 14 percent of subprime loans originated, market analysts expect that within the next few years the GSEs could purchase as much as 50 percent of the overall subprime mortgage volume. "
Boy Blunder could have issued an executive order to HUD halting this.
He didn't.
Re-read that last sentence, Paddy...in 2002 HUD stated that the GSE's were only 14% of the sub prime market. They were going to go to 50% on YOUR HERO'S watch.
And as I have posted many times, that HUD analysis was based on a model established by Clinton/Cuomo and was a continuation of their policies and was firmly backed by just about every Democrat in Congress.
And as I have posted many times, that HUD analysis was based on a model established by Clinton/Cuomo and was a continuation of their policies and was firmly backed by just about every Democrat in Congress.
And I as I have pointed out to you, you are lying. And now you've revealed that you did not read how Boy Blunder changed that "model".
The Clinton/Cuomo model was based upon FN/FM purchasing no less than A- credit.
Boy Blunder's HUD lowered the credit quality to the point where "liar loans" could be purchased.
Fannie Mae Eases Credit To Aid Mortgage Lending By STEVEN A. HOLMES Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets — including the New York metropolitan region — will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates — anywhere from three to four percentage points higher than conventional loans.
”Fannie Mae has expanded home ownership for millions of families in the 199082;s by reducing down payment requirements,” said Franklin D. Raines, Fannie Mae’s chairman and chief executive officer. ”Yet there remain too many borrowers whose credit is just a notch below* what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.”
* A notch below Prime Credit, i.e. A credit, is A-.
Yet there remain too many borrowers whose credit is just a notch below
Please.
As if your personal interpretation of what a crook like Raines says has any merit.
Do you honestly think that 2002 HUD Report was cooked up by Bush cronies 1 year after Bush took Office with no input other than that by Bush operatives? Do you understand the messed up quagmire of our bureaucratic system is?
Shit, I personally saw the EPA undermining Bush up until the day he left Office. What was Bush supposed to do -- fire them all and hire his own people down to the lowest levels? Same with HUD.
That's why Bush tried to approach this from legislative oversight rather than micromanaging a Federal agency.
The program purchased loans to A- credit. The underwriting requirements were based upon either credit score or % down payment. Someone with a 720 credit but who only had 10% down could qualify under those guidelines. Or someone with a 640 but with 20% down could qualify under those guidelines. The mortgage was issued 1pt above FN/FM conventional index, required PMI regardless of down payment, and, after three years of payment history, the PMI was dropped and, IIRC, the loan was considered PRIME.
Someone with a 720 credit but who only had 10% down could qualify under those guidelines. Or someone with a 640 but with 20% down could qualify under those guidelines.
Laughable.
People with a 550 (or lower) score could qualify with 10% down.
Fannie Mae and Freddie Mac are moving into the subprime market in a slow and prudent manner. The GSEs are purchasing a modest amount of subprime loans in order to enhance their knowledge of subprime underwriting, servicing and outreach. The agencies will use the information they collect from their initial subprime purchase volume to improve their automated underwriting systems to the point where prime underwriters can use Desktop Underwriter® and Loan Prospector® to evaluate loan applications from borrowers who do not qualify for prime loans. Interviewees expect the GSEs to develop loan products to serve the least risky portion (A- borrowers) of the subprime market, which accounts for about 50 percent of the overall subprime lending originations.
So now you are using the same 2002 HUD report that you used to impugn Bush to support Clinton/Cuomo?
Anyway:
Expect the GSEs to develop loan products to serve the least risky portion (A- borrowers) of the subprime market, which accounts for about 50 percent of the overall subprime lending originations.
Expect the GSEs to develop loan products to serve the least risky portion (A- borrowers) of the subprime market, which accounts for about 50 percent of the overall subprime lending originations.
I now for a fact that in 2000, you could get a no money down home loan with any credit score above 600. Well, maybe not you, but Tyrone or Pedro sure could.
And if you put 10% down, you could get a loan with just about any credit score.
