Who should Biden pick for VP

In another month or two it will be time for Biden to pick a VP.
He has said it will be a female.
Who do you think would be the best choice?
Someone from a swing state, of color, or?
Chose two if you like.

 

Michelle Obama, now that would be a killer ticket.

 

Right, lets put Obama back in. He didn't screw up the economy and foreign policy up enough, lets put Biden and Michelle in so they can continue Obama's failed policies.

 

The right would have a meltdown. They are. Already posting memes trying to allege Michelle is a man mroll:

 

Yeah the ones that caused the national debt to blowout, that dismantled healthcare that defunded the pandemic response team.............

Ooops that was Trump wasn’t it?

 

Ah, Joe, just pick Chelsea Manning and take the drama out of the equation.

 

The economy was hemorrhaging when Obama took office from a republican, and reversed that course.

Sorry, you are misinformed. Trump poses an existential threat to the health and national security of the United States.

Trump is a moron, he acts like one, he talks like one. A number of former officials have even acknowledged that fact, he's corrupt as hell.

 

The economy crashed because of the housing fiasco, which the Democrats were up to their neck to help cause by pushing banks to loan money to people so poor they should have never been given a loan It started back in 1993. Banks were sued if they failed to make a percentage of their home loans to poor. To help them qualify banks had to come out with all kinds of new loans, variable, balloon, ten year and refinance, etc.. They even took food stamps as income to help qualify. Then you also had people buying and flipping homes. Butwhen interest rates rose, people were losing everything. But Democrats kept pushing housing on the poor. Bush did too, but he offered to pay the down payment if people could qualify and had them go to class to learn what to look for before buying. Democrats pushed those loans right up to the crash.

You might think Trump is a moron, but no president has been able to do what he has done in just three and a half years.


Here was the very start of the fall of the banks, by pushing banks to make loans to the poor, when they couldn't afford them.

Please catch the date of this article.



U.S. To Push Banks on Credit in Poor Areas

December 09, 1993|ROBERT A. ROSENBLATT and CHRIS KRAUL | TIMES STAFF WRITERS


WASHINGTON — The Clinton Administration, hoping to generate billions of dollars in new loans for small businesses and residents in poor and minority neighborhoods, on Wednesday unveiled proposed new rules requiring banks and thrifts to aggressively seek new customers in all parts of their communities.

Federal regulators will now be much tougher in demanding that financial institutions make credit available to the poor as well as the affluent, said Comptroller of the Currency Eugene A. Ludwig, whose recent travels have taken him from South-Central Los Angeles to a reservation in North Carolina to hear complaints about the lack of credit in low-income areas.

http://articles.latimes.com/1993-12-...ommunity-banks

 

Here you are 12 years later and Democrats are still pushing homes to the poor and lying about it

 

Fannie Mae was taking over all those bad loans from the banks. They knew they had the backing of the government. Republicans wanted tp put strong regulations on Fannie Mae, but Democrats wouldn't listen and wouldn't go along with it as it would cut back on loans to the poor. Pelosi tried to put all the blame on Republicans. Clinton was interviewed about it.

 

Here Prlosi tried to put all the blame on Republicans for not putting strong regulations on Fannie Mae. This is what Clinton was answering to.

 

I voted for ME. Hell, I want to be President to and just wonder how much I could do in 47 months.

 

They couldn't get it through because three Republicans wouldn't vote against the tough regulations and no Democrats would vote for it.. They came up with a few proposals later, but they were never strong enough to do the job till the very end, by that time it was to late and the economy crashed. But of course that isn't what they want you to believe. It was all Bush and the Republican's fault.

 

Now for the economy that was hemorrhaging when Obama took over, Very true, now you know why. But it was Bush that started the recovery. He bailed out the banks. You can't have a recovery if people can't lend or borrow. And unlike the Democrats says, it was also Bush that started out the bailout of the auto industry in his final weeks. Obama took over from there. But Obama loaded his economy down with the highest corporate taxes in the whole industrial world and then added almost record regulations on top of it. Companies couldn't compete in Obama's economy and many moved out of the country. In place of those jobs, this is the economy Obama built. It was the worst recovery in history. Notice almost all these sources are Far Left.

Recovery Has Created Far More Low-Wage Jobs Than Better-Paid ...
www.nytimes.com/2014/04/28/business/economy/...
Apr 27, 2014 · Economy Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
How good were the 10.9 million jobs under Obama?
Money.CNN.com/2016/11/04/news/economy/jobs-under-obama/...
Nov 03, 2016 · CNNMoney breaks down what kinds of jobs have been created and ... Almost all of the job gains under President Obama have been in so-called service jobs,

The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.

In essence, the poor economy has replaced good jobs with bad ones. That is the conclusion of a new report from the National Employment Law Project, a research and advocacy group, analyzing employment trends four years into the recovery.

“Fast food is driving the bulk of the job growth at the low end — the job gains there are absolutely phenomenal,” said Michael Evangelist, the report’s author. “If this is the reality — if these jobs are here to stay and are going to be making up a considerable part of the economy — the question is, how do we make them better?”

The report shows that total employment has finally surpassed its pre-recession level. “The good news is we’re back to zero,” Mr. Evangelist said.

But job losses and gains have been skewed. Higher-wage industries — like accounting and legal work — shed 3.6 million positions during the recession and have added only 2.6 million positions during the recovery. But lower-wage industries lost two million jobs, then added 3.8 million.
HTTPS://www.nytimes.com/…/recovery-has-created-far-more-low…



77 percent of 2013 jobs were part-time positions ...
https://www.washingtontimes.com/news/2013/aug/2/part-timer-nation...
Aug 02, 2013 · Fully 77 percent of positions added to the market in 2013 have been part-time, in contrast to the positive economic news making the media rounds, according to payroll reports released in recent weeks.

"There are now 1.2 million fewer jobs in mid- and higher-wage industries than there were before the Great Recession, according to data from the National Employment Law Project. In contrast, there are 2.3 million more jobs in lower-wage sectors than before the recession," according to CNBC. Nor is there the hoped-for renaissance in American manufacturing. We have some 300,000 fewer manufacturing jobs since President Barack Obama took office and 1.5 million jobs below the pre-recession level.

https://www.usnews.com/news/the-report/articles/2015/08/23/the-part-time-economic-recovery

 

You are misinformed. While it is true that there was some contribution - the idea that this caused the 2008 crash and subsequent financial crisis - is simply false.

 

Trump knows where the danger to the United States is. It's China which Biden and the Democrats fail to see. They are still stuck on Russia.


Trump has his faults, no doubt about it, but he does love this country and he was just what we needed to turn this economy around from the low paying service and part time economy Obama's policies gave us. Trump knew we could not remain a economic and military power with jobs like that. We were on our way to becoming a third rate country. He knew we could not remain a world military power without our manufacturing base and he went strait ahead to try and bring that back. It was our industrial base that saved our ass in WWII and Obama allowed our military to fall apart. While the Democrats have seen nothing but Russia as our problem, Trump was smart enough to know our real enemy is China. You might think you know it all, but you have much to learn. Trump came along just when we needed him most. Stupid Biden still doesn't see the threat China posses, financially and militarily. The Democrats want to cut military funding. ( What the massive US military budget pays for
www.click2houston.com/news/politics/what-the...
When President Donald Trump signed the $1.3 trillion omnibus spending bill on Friday, he approved what his administration calls the largest military budget in US history, $700 billion.( to fix the mess Obama left the military in.
Grounded: Nearly two-thirds of US Navy’s strike fighters ...
https://www.defensenews.com/.../02/06/grounded-nearly-two...
Overhauls — "availabilities" in Navy parlance — are being canceled or deferred, and when ships do come in they need longer to refit. Every carrier overall for at least three years has run long, and some submarines are out of service for prolonged periods, as much as four years or more. One submarine, the Boise, has lost its diving certification …

70% of Marine Aircraft Can't Fly - …
https://www.independentsentinel.com/70-of-marine-aircraft...
Out of 276 F/A-18 Hornet strike fighters in the Marine Corps inventory, only about 30% are ready to fly, according to statistics provided by the Corps. Similarly, only 42 of 147 heavy-lift CH-53E Super Stallion helicopters are airworthy.




China has around a 700 billion trade surplus with us. They are taking our jobs, stealing our company's secrets. Manipulating their money, buying up our factories. Anything to get an advantage over America and become the next super and economic power. When Clinton was President, China rode around on bikes and rickshaws. Today they are the leading auto manufacture in the world. Their new submarine factory can put out twice the number of nuclear subs that we can. Their Navy now has more ships than ours. They are threatening us in the South China Sea where they have built man made islands and put military bases on them. They have threatened us not to sell new planes to Taiwan, who we have a defense treaty with. Our military believes when China gets stronger than ours, they will attack Taiwan, drawing us into a war with them and China and Russia has signed a defense treaty with each other. People need to wake up and see what is going on. Hold your hate for Trump and take a look at what this man has done and trying to do. He sees the danger we face, Biden and the Democrats haven't got a clue.They don't see China as a threat at all. They are still wrapped up with Russia.

 

• Joe Biden Says China Not a Threat for US | Newsmax.com
  www.newsmax.com/newsfront/trade-war-tariffs-gdp...
  Democratic presidential candidate Joe Biden during a campaign stop Wednesday said China is not a threat for the United States, putting him at direct odds with President Donald Trump. "They can't even figure out how to deal with the fact that they have this great division between the China Sea and the mountains in the east, I mean in the west," Biden joked in front of a crowd in Iowa City.

• Devin Nunes says Dems derailed hearings on China threat in ...
  www.foxnews.com/media/rep-devin-nunes-says...
  Democrats derailed a Republican-led hearing on a threat from China in favor of Russia and impeachment talk, California Republican Rep. Devin Nunes said Thursday night.

 

Not false at all It's all true. The cash came about because of the housing market and banks and Fannie Mae stuck with a bunch of bad loans Banks were also bundling up these bad mortgages and selling them off.

• Causes of the United States housing bubble - Wikipedia
  en.wikipedia.org/wiki/Causes_of_the_United...
  Republican Senator Marco Rubio has stated that the housing crisis was "created by reckless government policies." Republican appointee to the Financial Crisis Inquiry Commission Peter J. Wallison and coauthor Edward Pinto believed that the housing bubble and crash was due to federal mandates to promote affordable housing.

• What Is a Housing Bubble? Causes and Impact of a Housing ...
  smartasset.com/mortgage/what-is-a-housing-bubble
  May 21, 2018 · Housing bubbles affect not only the real estate market, but neighborhoods, personal wealth and the economy at large, too. Bubbles cause a lack of affordability, driving more people to look for unsavory mortgage programs. It may cause homeowners to dig into their retirement plans, meaning they’ll have to work longer just to pay the bills.

• Why the Housing Bubble Tanked the Economy ... - FiveThirtyEight
  fivethirtyeight.com/features/why-the-housing...
  May 12, 2014 · The housing crash killed retail spending, which collapsed 8 percent from 2007 to 2009, one of the largest two-year drops in recorded American history. 2 The bursting of the tech bubble, on the ...

 

~ Actually nobody cares what Joe Biden does. He can pick his nose for vice president for all we care...
"The People " have spoken

 

Spare me your cherry picking small pieces of a much larger picture - and pretending that your piece represents the whole.

There were many factors - supporting lowering lending restrictions to those with "slightly" lower Credit - was not a big part of the equation.

Banks completely waiving any restrictions - is one part of the story that your small piece leaves out. Barney Frank was not up there touting "NINJA" Loans. get it , got it .. good.

Then you had the removal of the barriers between retail and investment banking - would you care to comment on what "loans for the poor" had to do with this ?

So there are a few things that are missing. Then you have your ridiculous quotes - none of which support the one piece of the puzzle you are claiming ?

I am well aware what a housing bubble is - and that reckless Gov't policy was largely responsible .. Reckless Bush Administration Policy.

 

he Obama Record: The Obama camp's running a new ad reminding African-Americans of all he's done for them as they weather an economic crisis he "inherited." Left out is his own role in their predicament.

The press has never questioned the president about his involvement. But his fingerprints are there.

Before the crisis, Obama pushed thousands of credit-poor blacks into homes they couldn't afford. As a civil-rights attorney, he sued banks to rubberstamp mortgages for urban residents.

Many are now in foreclosure. In fact, the lead client in one of his class-action suits has since lost her home and filed bankruptcy.

First some background: Obama focused on "housing rights" when he worked as a lawyer-activist and community organizer in South Side Chicago. His mentor — the man who placed him in his first job there — was the father of the anti-redlining movement: John McKnight. He coined the term "redlining" to describe the mapping off of minority neighborhoods from home loans.

McKnight wrote a letter for Obama that helped him get into Harvard. After he graduated, he worked for a Chicago civil-rights law firm that worked closely with McKnight's radical Gamaliel Foundation and National People's Action, as well as Acorn, to solicit lending-discrimination cases.

At the time, NPA and Acorn were lobbying the Clinton administration to tighten enforcement of anti-redlining laws.

They also dispatched bus loads of goons trained by Obama to the doorsteps of bankers to demand more home loans for minorities. Acorn even crashed the lobby of Citibank's headquarters in New York and accused it of discriminating against blacks.

The pressure worked. In 1994, Clinton's top bank regulators signed a landmark anti-redlining policy that declared traditional mortgage underwriting standards racist and mandated banks apply easier lending rules for minorities.

Also that year, Attorney General Janet Reno and her aide Eric Holder filed a mortgage discrimination case against a Washington-area bank that forced it to target minority neighborhoods for subprime loans.

Reno and Holder also encouraged civil-rights lawyers like Obama to file local lending-bias cases against banks.

The next year, Obama led a class-action suit against Citibank on behalf of several Chicago minorities who claimed they were rejected for home loans because of the color of their skin. It was one of 11 such suits filed against the financial giant in Chicago and New York in the 1990s.

As first reported in Paul Sperry's "The Great American Bank Robbery," the plaintiffs' claim lacked merit. Factors other than race figured in the bank's decision to turn them down for loans.

One of Obama's clients had "inadequate collateral" and "an incomplete application," while another had "delinquent credit obligations and other adverse credit history."

Obama argued such facts miss the point: that Citibank's neutral underwriting criteria may have adversely impacted his clients as a class of people. He demanded it turn over loan files from the entire Chicago metro area to prove it regularly engaged in a pattern of discrimination.

The court didn't award him the files. But Citibank eventually settled, despite the weak case. Under the 1998 settlement, Citibank vowed to pay the alleged victims $1.4 million and launch a program to boost home lending to poor blacks in the metro area.

In the run-up to the crisis, Citibank underwrote thousands of shaky subprime mortgages to satisfy the court in Obama's case. Defaults were common. When home prices collapsed, most of the loans went bust.

His lead African-American client, Selma Buycks-Roberson, who was denied a loan due to bad credit and low income, got her mortgage only to default on it years later.

She got a foreclosure notice in 2008, according to The Daily Caller website, along with many of her Chicago neighbors.

By putting them on the hook for loans they couldn't pay, Obama did them no favors. Blacks have been hit hardest by foreclosures. But what does Obama care? The Caller reports he pocketed at least $23,000 from the Citibank case.

Today, he blames the devastating wealth drain in black communities on subprime mortgages. He says "greedy," "predatory" lenders tricked poor minorities into paying higher fees and interest rates.

But Obama was for subprime loans before he was against them. "Subprime loans started off as a good idea," he said as those loans began to sour in 2007.

His closest economic advisers also promoted subprime lending. Several months earlier, Chicago pal Austan Goolsbee, who later became his top economist, sang the praises of subprime loans in a New York Times column. He argued they allowed poor blacks "access to mortgages."

One of Obama's top bank regulators, Gary Gensler, once bragged that thanks to subprime mortgages, banks made home loans to minorities at "twice the rate" they made to other borrowers, according to "Bank Robbery." "A subprime loan is a good option when the alternative is no access to credit," he said years before the crisis.

Obama hasn't learned from his mistakes.

Far from it, IBD has learned the mammoth credit watchdog agency he created (with input from NPA radicals) will dust off Clinton's 1994 minority lending guidelines to crack down on stingy lenders. And he's ordered Holder, now acting as his attorney general, to prosecute banks that don't open branches in blighted urban areas.

Not only has Obama scapegoated banks for the crisis he helped cause, he's exploited minority suffering to continue reckless policies that hurt those he claims to champion.

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Well sir, I don't just make claims. I use sources. I don't ask anyone to just take my word for it.

BUSH ADMINISTRATION PROVIDES HOMEBUYERS NEW PROTECTION FROM PREDATORY LENDING PRACTICE
New "Anti-Flipping" Rule Holds Lenders, Sellers and Appraisers Accountable
WASHINGTON - Housing and Urban Development Secretary Mel Martinez today announced a new initiative in the Bush Administration's efforts to crack down on predatory lending. HUD published a final rule today in the Federal Register addressing property "flipping" on mortgages insured by the Federal Housing Administration (FHA).

Property "flipping" occurs when a recently acquired property is resold for a considerable profit with an artificially inflated value.

"The Bush Administration is committed to maintaining a strong housing market in which consumers can feel confident that they are protected from unscrupulous practices," Martinez said. "This final rule represents a major step in our efforts to eliminate predatory lending practices."

Predatory lending results when home purchasers become unwitting victims of lenders, sellers and appraisers, often working together. The unsuspecting homebuyers either purchase homes with sales prices far in excess of the fair market value, or are substantially overcharged with costs associated with obtaining a mortgage.

The final rule, "FR-4615 Prohibition of Property Flipping in HUD's Single Family Mortgage Insurance Programs," makes recently flipped properties ineligible for FHA mortgage insurance. It also allows FHA to better manage its insurance risk by requiring additional support for a property's value when a significant increase between sales occurs. Features include:

Sale by Owner of Record: Only the owner of record may sell a home to an individual who will obtain FHA mortgage insurance for the loan; it may not involve any sale or assignment of the sales contract, a procedure often observed when the homebuyer is determined to have been a victim of predatory practices.

https://archives.hud.gov/news/2003/pr03-055.cf

 

~ Obama and Jessie Jackson have a lot in common .

~ Yes this can happen when home buyers trust the local "expert" real estate broker. Buyers need to do some homework on the internet and determine the average selling price . An independent property appraiser can also come in handy .

 

• Democrats Were Wrong on Fannie Mae and Freddie Mac | Thomas ...
  www.usnews.com/opinion/blogs/barone/2008/10/06/...
  Oct 06, 2008 · Democrats Were Wrong on Fannie Mae and Freddie Mac The White House called for tighter regulation 17 times.

 

• Bush Administration Tried to Reform Freddie and Fannie Five ...
  www.cnsnews.com/news/article/bush-administration...
  A Google search brings up the following Sept. 11, 2003 New York Times article, which shows the Bush administration was aware of potential lending problems and did try to do something about it: The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a ...