3.8 % of Oil and Gas Royalties for Obamacare

http://www.bizjournals.com/pittsburgh/blog/energy/2013/01/new-link-...

 

Not in your wildest dreams would McCain/Palin have pulled this garbage.

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Permalink Reply by Mark Thevenot on May 21, 2013 at 3:50am

Obama was elected by spinning BS to the overwhelming majority of low information voters in our Country. Eric is right. I spent 18 years in the mortgage backed security business and saw it coming. The housing crisis, which was unjustly blamed on Bush by the Democrats, had its origin in the Community Reinvestment Act that the Democrats passed to force lenders to loosen lending standards to enable more of their supporters to become homeowners. This created a housing bubble. The poor regulation of  the players in the mortgage backed securities market  combined  with the gusto with which Fannie Mae/Freddie Mac pursued purchasing these crappy mortgages (made to mostly their Democratic constituents in the sub-prime loan area) led to a disaster waiting to happen. A slight downturn in the economy and rise in unemployment rate sent the house of glass crashing down. Franklin Reins(minority race Democrat) was running Fannie Mae and he and his friends cashed in,  he collected millions for himself in bonuses at Fannie Mae during that time. Bush had his faults, but to blame this current economic mess on him is just factually not true. The Democrats have relied on miss information to low information voters to get out the vote - unfortunately this group has the highest number of registered voters thanks to community organizers like Barack Obama.

Permalink Reply by Bella on May 21, 2013 at 10:53am

Someone is wearing rose colored glasses!!!! LOL

Permalink Reply by tony blankenship on May 21, 2013 at 3:39pm

so let me get this straight it was Obama that miss handled the companies found in the first place, if the company had an agreement (contract) then the money for  the retirement would never have been in question. thats the problem most people that are anti-union dont get, companies can promise the moon but without proper representation it dont mean squat.

Permalink Reply by William Otis on January 22, 2013 at 12:04pm

Thank you Eric! There are so few people that understand what really caused the problem, and it goes back to the Carter administration and the CRA (the ACT that required banks to end what was known as "red lining," in otherwords to rely on credit scores and income to qualify people for loans. Those who didn't meet minimum requirements were "red lined, were disqualified.

Democrats want you to believe that the banks were "preditors" and purposely making loans to people who didn't qualify, and then offloading (bundling) those loans to Fannie Mae and Freddie Mac, who in turn sold them as "Mortgaged Backed Securities." They were bad loans to begin with.

Bill Clinton greatly expanded the CRA, because of a Democrat belief that people have a "right" to home ownership. I guess he didn't think that the lending isntitutions had a right to get paid.

Repbublicans warned many times of the looming crisis. Democrats would have none of it, and criticized the Republicans for "manufacturing a 'crisis' where none existed." The rest is history.

The Democrats hide this truth as much as possible, and blame Bush for the meltdown. They have been blaming Bush ever since for the economy taking a nose dive in 2008, but it was the fault of bad legislation.

Secondly, and leading to the bad economy begining in late 2008, was Barack Obama coming on the scene. Those businesses that did their research knew what Obama was planning and began to downsize immediately after he won the election. I have this on very good authority from one with many friends in the business world.

Many of us, being good citizens and wanting to be informed voters, took the time to vet Obama on our own. The media didn't. The leftist media, fawning all over Obama like he ws God, refused to delve into Obama's past. Had they done so, they would have found what those of us on the right did. Instead, they painted us as 'racist,' and called us all liars. But the info was out there for those willing to find it.

Obama's Marxist/Communist/Socialist roots are well documented. That is how he was raised, and that is who he is.

Permalink Reply by Dan on January 22, 2013 at 3:57pm

William,

"Democrats want you to believe that the banks were "preditors" and purposely making loans to people who didn't qualify, and then offloading (bundling) those loans to Fannie Mae and Freddie Mac, who in turn sold them as "Mortgaged Backed Securities." They were bad loans to begin with."

Morgage brokers during that time made $1500 a pop for generating the loans for the banks plus a % for nailing the customer with a 2% higher rate than they should have gotten based on their credit.  Bogas incomes on the applications and inflated appraisals had the notes dirty before the banks powdered them up and packaged them as good credit paper.  Your right they were bad loans to begin with but many of the banks missrepresented them as good.  Bush and Obama wanting to bail them out and leave them clean is the real tragidy.

I had a direct sales company from the mid 90's untill 2008.  We always strived to keep our lenders free of risky customers or they could become finicky as todays market has become and I would buy back a good portion of the bad note with the return of the product even though we didn't have to.  I often told lenders they were nuts for approving some of those people and I wouldn't lend them $20 but lenders will often lend based on company quotas, promotions or contests, not logic and standards. 

Thats a lot bigger hat than where you're trying to hang it. 

2z248p19vqnh9Permalink Reply by 2z248p19vqnh9 on May 20, 2013 at 5:50am

William Otis - agreed with above expressed thought..."red lining"...RED HERRING?...

Rules for Radicals - Wikipedia, the free encyclopedia

Saul D. Alinsky ('slinsky' - like slinky...or SKIN-FLINT)...that's Obama's guru...

practice of being a 'BAITER'...like many fall into this category on this GMS site...bait, bait, & AGITATE...til the sun goes down...

Just plain vile & nasty...but to each their own/you'll 'get yours'.

As one light lights another, nor grows less - so nobleness enkindles nobleness.

Permalink Reply by robert c miller on May 21, 2013 at 6:05am

I see there are many here that are not taken in by the low information media.

2z248p19vqnh9Permalink Reply by 2z248p19vqnh9 on May 21, 2013 at 10:28am

Mark T.- You mean 'Communist Re-investment Act' by the 'democraps'? Darn fingers slippin' all over these keys...YES, history repeats itself - over & over...butter fingers. 'Butter Budget'! Slippin' in between the cracks!

THIS is exactly what I talk about when I say that IF PEOPLE lived in proper ways - you would have no worries...but it just isn't so. GOD is GOD & He commands all. We ALL have 'free choice' to either do 'right' or wrong. What will be will be. ALL one can do is to do THEIR BEST, not be bitter and to keep on.

In THIS way it can be said that things fell into ruin, BUT there always is 'a silver lining'. I, too, wish it weren't so...but wishes won't change anything. Actions will...but NOW - it may take the entire country to break into 'regions' - North, Mid, & South...in East, Mid, & West...total of x9 areas +/-. Never give up.

There are simply too many people now. I know that there are areas that are growing, waning, stagnant...and they too will have their grief, challenges, and joys.

Each day begins anew. THAT is why it is so very important that each & every person has RESPECT for themselves - and through THAT essence, they can emanate/exude respect to/for others. That is ENDEAVOR.

NO ONE does everything 'perfect' - THAT would be drastically boring. But what is NOT 'boring' is just keeping things smooth.

                           USParty  - GG 8.20.2005

The ‘US’ Party is the ‘United States’ Party. It is built on the backround of every individual in this vast, rich, unencumbered great land. It is a perpetuated continuation of the great legacy as well as individual right as well as responsibility endowed to every person who strives and chooses to encompass this grand land. The ‘rights’ we are all blessed with, and are responsible to (no matter in what vast or small ways) are OURS to nourish and keep. If they are ‘maintained’ –that is the way they shall be…if they are ‘destitute’ –that is the way they shall be. Everything everyday is ours to ‘create’ in this country. Individual maintenance begins with the heart, your heart. YOU must choose for yourself how you shall ‘tend your garden’: this will ultimately dictate (to the whole ‘end-all’) the ‘core’ that is seen on the outside by ALL involved. The beauty of this great land—and for the world overall--is that YOU CAN CHOOSE. It is a free decision by you, for you. You will be what you shall be when ‘no one is looking’ as well as when ‘everyone is looking’ (because what you are on the ‘inside’ comes out in action and deed on your ‘outside’ –for everyone to see: what people ‘see’ and how you treat them –this is REAL LIFE, and this is what these ‘United States’ are built out of.) This is the CORE of ‘US’. 

    

You are free to chose your ‘conduct’ in this life. You will do ‘a’ or ‘b’ or ‘c’ or ‘d’. All choices will create a ‘path’ not only for yourself, but also for everyone, everywhere who ‘knows you’, and even those who do not know you. Every day is full of choices. Every action creates an equal and opposite reaction. This is not just a ‘scientific’ theory. Go clear back to Adam & Eve –their decision ‘dictated’ to the world it’s ultimate ‘choice state’, but every day we can ‘right wrongs’ with our individual actions. Your one and multiple varioUS decisions create a WHOLE for society. My action will not be your action, nor do I want it to be…likewise, I do not wish for your action to be mine: BUT, I do not wish that your or my wrong decisions to ‘ripple effect’ into each other, unless they are positive…. Ultimately, RIGHT is right, WRONG is wrong…their ‘ripples’ can be clear and beautiful –or they will ‘muddy the water’. I thirst after clear, clean, good water for all: thus the ‘US’ Party for All. Know that I am not perfect, as I do of you. All I know is how I wish to conduct myself. Like a ‘Human Being’. I am a human being. You are a human being. To have ‘rights’ is to have ‘freedom’, and WITH FREEDOM COMES RESPONSIBILITY. Joined all together in this menagerie are ‘we’—so our ‘responsibility’ is to be ‘free’, and ultimately enjoy this luxury.

 I pray that will all endeavor to command our ship in all the best manners for all involved. That is all that can be said. As one lights another, nor grows less - so nobleness enkindles nobleness.

It usually gets worse before it gets better...but we ARE.

Permalink Reply by Denver Gallentine on May 21, 2013 at 11:12am
Mark,I read your post dated 7 hours ago with interest. There was no reply icon so I am using Otis's posting. I hope he does not mind.
While I may not agree with a portion of what you said ( I think this financial mess has been brewing for 30+ years) I do agree that a HUGE component was banking institutions loaning more then people could afford (government supported) Ex. One institution advertised 125% of the value of your home loan. Obvious disaster in the making. My question: I am now hear advertisements that if you are underwater (ex. Given, you owe $300,000 on a $150,000 home) they will rewrite your loan for the $300,000) Now Mark, I am not the brightest guy in the room, but I would not give someone a $300,000 loan on a $150,000 property. Is this type of banking not one of the factors that got us in our mess 5 years ago? As far as the politics goes, I am frustrated w/ all of them. I wish the old Bull Moose Party would come back.
Permalink Reply by Mark Thevenot on May 21, 2013 at 11:40am

I am also skeptical of any refinancing that lends a borrower more money than his collateral is worth. The essence of common sense safe lending involves 3 primary considerations: the borrower' must demonstrate 1.) ability to pay 2.) willingness to pay and 3.) collateral. That is why cautious lenders check to verify you have sufficient income(ability) - a good credit history(willingness) - and offer collateral (in case either ability fails, example; loss of job, or, willingness fails, example; many people will walk away from a home if they are underwater). These lenders are now  able to offer these bail out loans because they are probably being prompted up by some Gov't program which is guaranteeing they will not lose their money. Another wise investment of our taxes by the Obama Administration I suspect. LOL

Permalink Reply by Denver Gallentine on January 22, 2013 at 12:57pm
Eric, I agree w/you 100% on the topic of the housing bubble being a huge reason for the financial problems we have experienced. I read that in 2009 the US had a surplus of 2 1/2 million new homes unsought. That does not include the millions that were bought on loans that should never have been made.
On the GM bailout I do not quite understand your position. In Mr. Romney's 2008 NY Times op-Ed he did not really say "Let them go bankrupt" per-SE he outlined a structured bankruptcy w/the government providing post-bankruptcy financing and government assurance of warranties. The Obama plan seems to have similar outcomes. I look @ ohio's unemployment rate (12% of our employment is auto based) and it appears to be a success.
The difference in the two plans seem that one provided monies to avoid a bankruptcy while the other provided money (or insurance) after the bankruptcy. Why would the Obama plan scare business.
I am interested in your perspective. -denver
Permalink Reply by gary smith on January 22, 2013 at 4:37pm

the obama plan broke the united staes bankruptcy laws because the bondholders were bypassed.  but when you are law ,thats the way it goes. many nightmare stories from the bondholders. just like delphi pensioners.

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