Community | September 25, 2008 | 16 comments

Flashback, 2002 - Bush set the minorities up

source: http://www.youtube.com/watch?v=eW9viaJatpo&fmt=18

Vierotchka
In a speech in 2002, Bush promised that 5 million poor families will own their own homes - nice homes, not crappy homes - by the end of the decade, with the help of Fanny Mae and Freddie Mac. It was a setup. When these homes are repossessed, their owners have nowhere to go but on the street, in tent cities, etc. Will they end up being rounded up and stacked in Fema concentration camps? I heard that the military will be deploying on US land next week... Also, homeless people can no longer vote in some States. Connect the dots...
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16 comments // Flashback, 2002 - Bush set the minorities up // Video

  • Virtual_Will_Rogers
    • 0
      Virtual_Will_Rogers  
    • Image

    • .....can you imagine if you had a pet that breathed zioneum....and produced eratium...you had a sealed cubical for your pet...with a small plant that breathed eratium..and produced zioneum.....everything was going great.....you leave for the weekend...come back....your pet is dead in the corner.....lying next to a small structure...that it had constructed out of the plant......Golden Ruler...Will.......

      ..Stop making worthless houses out of your best friends............trees........use concrete................
      concrete is also a friend...you just dont need it to Breath.....

    • 3 years ago
  • jubal
    • 0
      jubal  

    • The biggest part of the problem is the number of loans defaulted when their interest rates jumped after the initial sub prime period. Brokers packaged these loans and sold them to Freddie and Fannie, while commercial property was being underwritten by Lehman.

      A lot of new homeowners were betrayed by predatory lending practices and it all backfired on them when people interest rates went suddenly from less than 6 percent to over 12 percent. This was over a 100% interest rate spike.

      Say your payment was $1000 but with the interest rate more than doubling your payment suddenly is $2000 or more. Say you lied a little on your application saying you made more than you actually did so you could qualify for the loan. $1000 payment was more like 50% of your income than the standard 25%. Suddenly 100% of your income needs to go to pay the interest on your mortgage, what are you gonna do? Walk away from that house, that payment, that American Dream turned nightmare.

      Think about it folks and stop blaming the consumers. They were sold a lie to make a huge profit and it backfired on them. They never thought so many people would just up and walk away from their brand new homes.

    • 3 years ago
  • NeoDotCom
    • 0
      NeoDotCom  

    • Duh
      But why are we even talking about this
      What about the mortgage backed securities
      That were sold as AAA
      When they were mostly junk

      That's the real problem
      That's the scandal
      That and having 3 cent for every dollar you borrow

      Where is the real outrage? Or are we too stupid to really understand

    • 3 years ago
  • globewatcher
    • 0
      globewatcher  

    • this was planned. and came to the fore right before our election that will get him out of office. now troops will be in our country to fight civil unrest, right before the elections. this was all planned. i wont be surprised if a state of emergency or even marshall law is enacted before the elections.

    • 3 years ago
  • onechance
  • Virtual_Will_Rogers
    • 0
      Virtual_Will_Rogers  

    • ...How can Bush be so evil....and so utterly stupid at the same time......who is actually running this perpetual sad go round?...It just cannot be George Bush...and does Bush even know?.......Golden Ruler.....Will....

    • 3 years ago
  • goldenways
  • jubal
  • onechance
  • Virtual_Will_Rogers
  • jubal
    • 0
      jubal  
    • Virtual_Will_Rogers:

      Amen to that Brother Will....And God is Dog backwards too. I once thought about all of the words I could think about that meant to different words backwards.

      How many more can you think of?

      Devil & Lived
      Evil & Live
      Dog & God

    • 3 years ago
  • goldenways
  • Virtual_Will_Rogers
  • goldenways
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