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  1. #1
    JeffWard's Avatar
    JeffWard is offline Senior Member
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    Thanksgiving 2009 - CANCELLED

    New Release: September 2009...
    - ASU Today, People's Press. The People's News!

    The traditional Thanksgiving holiday will be cancelled this year. Due to an upswell in negative polling from Indiginous-Americans, the Obama administration and Comrade Nancy Pelosi, have determined that Former-American Thanksgiving is offensive to the poor repressed indiginous peoples of the American Socialist Union (ASU).

    In it's place, we will celebrate "Give an Indiginous-American Some Land Day". This new holiday will involve an annual collection, by Emminant Domain, of approximately 30 million random 1-acre parcels of land from greedy, rich, European-American landowners (those making more than $40,000 per year and owning at least 1.1 acres), and redistributing these lands to their rightful owners... The Indiginous-Americans.

    Have a Happy Holiday!
    Comrade Clinton, Secretary of The State, ASU

  2. #2
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    Why is the future Obama administration getting blamed for socialism when Bush's Secretary of the Treasury is buying up banks - and therefore gaining influence over any company or business that needs credit from those banks? This is more scary to me since it can be used to circumvent all of our freedoms.

    Any way...

    They can have my turkey when they pry it from my cold dead hands!!!!
    Last edited by kev74; 11-27-2008 at 11:47 AM. Reason: spelling

  3. #3
    twodogs's Avatar
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    Quote Originally Posted by kev74 View Post
    Why is the future Obama administration getting blamed for socialism when Bush's Secretary of the Treasury is buying up banks - and therefore gaining influence over any company or business that needs credit from those banks? This is more scary to me since it can be used to circumvent all of our freedoms.

    Any way...

    They can have my turkey when they pry it from my cold dead hands!!!!
    If you think you are witnessing socialism now, just wait! The banking issues stemmed from regulations mandating that banks give loans that shouldn't have receievd them. The banks were saved when they shouldn't have been. It stopped a depression. Both parties have displayed degrees of socialism, but none more than what Obama is planning to implement.

  4. #4
    kev74's Avatar
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    Quote Originally Posted by twodogs View Post
    The banking issues stemmed from regulations mandating that banks give loans that shouldn't have receievd them.
    Nope. The banking mess stemmed from greed. The banks were willing to make bad mortgage loans to people who they knew wouldn't be able to pay them back, with no down payment, credit history, etc., because they knew the loans would be bundled and sold off and wouldn't remain on their books. They were willing to make their money on the application fees, points, etc and walked away from what should have been their main source of revenue - the interest payments to be paid by the borrowers.

  5. #5
    bdp2000 is offline Member
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    Quote Originally Posted by kev74 View Post
    Nope. The banking mess stemmed from greed. The banks were willing to make bad mortgage loans to people who they knew wouldn't be able to pay them back, with no down payment, credit history, etc., because they knew the loans would be bundled and sold off and wouldn't remain on their books. They were willing to make their money on the application fees, points, etc and walked away from what should have been their main source of revenue - the interest payments to be paid by the borrowers.
    +1

    No one forced the banks to make these "no income, no asset" loans. They were sold freely and at will by many banks and mortgage brokers so that they could be bundled and sold off to foriegn investors (mostly Indian and Chinese), that were willing to buy ANY US investment thinking that it could get them richer. Beyond that, those that did invest in these risky investments also hedged their bets with futures backing. It is essentially insurance backed by nothing but the belief that if your investment fails, someone else will be stuck with the risk. But when everyone did it, it fell like a line of dominoes.

    Greed begets greed begets...well, the big pile of diaper lode that we are in!

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