One of my kids is a privileged minority, and I’m working on adopting another privileged minority kid. Doesn’t that count for anything?

Damn, I’d hate to be arguing against V the K, SO Cal, AE and NDT, you guys are good. Thanks for being here.

Nah, it just looks that way because conservatism is built on common sense, making it easy to defend. Guys like talkingpoints and michael that have to defend liberalism. It’s impossible to look smart while arguing for stupidity.

The 1999 bill that Gramm sponsored that allowed Banks to expand to other markets had a provision in it that was added by the Democrats that required that any bank that sought to move into the new markets had to have a satisfactory CRA audit / review.

This guaranteed that any institution that expanded into the international market system was assured to be saddled with time-bomb bad loans.

Rush needs to blame the poor brown people.

Back in the 90s when the Boston Fed came out with their report that minorities were being “under-served”, there was an article in the WSJ about some statistics (before mortgage standards were changed) that showed that mortgage defaults for blacks and whites were about the same… in other words, the same credit standards were being applied regardless of the applicant’s color.

So tell me, torrent, how does one help the “poor” by

1) getting them into a debt they can’t possibly service?
2) running up the price of housing by inflating demand via super-loose credit (see #1)?
3) putting them through inevitable foreclosure and eviction?
4) laying waste to entire blocks (see Detroit) filled with abandoned houses?
5) strangling the economy so that jobs dry up?

Libs love to be seen as “helping the poor” yet so many liberal prescriptions seem to do just the opposite (yet a fair number of Democrat operatives seem to do pretty well).

I really wish torrentprime and his fellow Democrat liberals would open their own banks and make the loans they demand everyone else does. Isn’t it amazing that they don’t do that, instead trying to extort the loans and money they need from others using the government as a cudgel?

Am I a sucker?

Unfortunately for that argument, torrentprime, the only thing that was “deregulated” in the financial market by the repeal of Glass-Steagall was that banks, investment houses, and insurance companies could now compete in each others’ business spaces and vice versa — a thing which has turned out to be positive, given that the large conglomerates like JP Morgan, Wells Fargo, Citigroup, and others that have done that are surviving nicely, while the single-business groups like Lehman, Bear Stearns, AIG, and WaMu have not.

Furthermore, the “deregulation” that caused the most problems is thanks to Democrats like yourself, Obama, and Barney Frank — who ordered Fannie Mae and Freddie Mac to lower their requirements, thus allowing them to take on and securitize even more risky loans with a government guarantee.

Oh, that’s a good one.

IndyMac was founded in 1985 and became the leader in “alt-A” mortgages, those written to consumers whose credit was good if not outstanding, on terms that included adjustable interest rates, flexible pay plans and other features that often meant consumers’ loan balances grew instead of declining over time.

The Center for Responsible Lending, a consumer advocacy organization, said IndyMac’s decline was caused by “unsound and abusive lending” practices.

In other words, IndyMac did exactly what you and Barack Obama demanded, which was making risky loans to people who couldn’t afford them. Now, instead of taking responsibility and admitting that that wasn’t a good idea, you want taxpayers who did nothing of the sort to bail them out — and calling other people “racist” for insisting that minorities meet the same credit standards that white people must to get loans.

Risky loans don’t lead to financial meltdowns. Packaging and hiding them with good loans due to deregulation does. I realize Rush didn’t tell you that part, but, well, Rush needs to blame the poor brown people. Not as awesome an explanation as the blame the gays idea the fundamentalists are circulating, but racism is really what the GOP has left when McCain is this far down in the polls. The “gays did it” will be done off the front pages, just like “teh gays caused Katrina” was last time, but the preachers will get their marching orders, and the blame shifting will commence. And hey, now that we’re gassing mosques in this country, maybe the right will build someone up to a really spectacular hate crime: blow up a gay activism center or something. Really cap off those Bush years.
The anger and desperation on this blog shows the dire straits the Right is in; it’s why I post here so often now. I saw the light a few years back. I am sure that others reading here have done and are doing the same. Keep on keeping on, peeps.

Perhaps torrentprime can explain to us why Democrat gays like himself support filing lawsuits to force banks to make riskier loans, and then whine about “deregulation” when said banks get into financial trouble from these risky loans defaulting. After all, as he whines, only “theocons and fiscal incompetents” believe that banks should be allowed to loan based on risk and that people should be held responsible for taking out loans they can’t pay; real “Republicans” like himself and Obama support banks being forced to make risky loans and then using funds from honest taxpayers to bail out the deadbeats who Obama demanded get loans.

Since the voting on the floor of the House is public, once the GOP House conservatives and some moderates saw all the prominent Dhimmicratic Party “nays”, is it any surprise they to voted their consciences?

I thought they really had a chance, but I’m becoming resigned to the McCain-Palin ticket being toast this time. McCain made a big-fuss over calling a time-out…then apparently did little or nothing. The campaign staff’s totally bungled the follow-up on the Palin nomination, reducing a potentially-brilliant choice for VPOTUS to a Tina Fey punchline. And the local bank’s already laying-out barriers and traffic-cones, and laying-in additional drawer-cash, to manage this Friday’s bank-run when my neighbors cash-out their paychecks and pull-out substantial cash from their accounts.

This is not good….

Now watch as torrentprime flips, just like torrentprime flipped when it was revealed to him that the Obamamessiah supported and pushed making subprime loans to unqualified borrowers, and that the Obamamessiah himself employed as his national finance chair a banker whose subprime loans had collapsed and deprived over a thousand people of their savings.

In all, it was a horrendous failure of Pelosi’s “leadership.” But analysis was never torrentprime’s strong point because it’s much harder than mouthing the latest talking points.

LOL. Can’t even get your own BS excuses straight. I love watching the theocons and fiscal incompetents who hijacked my party in meltdown.