Gibbs Takes Off Gloves to Challenge Reporters, Hosts Who Cross Obama

[targus]

I agree debt was a part of this, but it was not the total cause unless you also include the predatory practices of the lenders. I believe some credit must also be given to the number of jobs that went overseas. That reduced our dollar churn which caused even more unemployment and now we find ourselves at 8.1% and can't stop the climb.

Predatory practices of the lenders?

Barney Frank et al (including Obama and ACORN) forced the lenders to give mortgages to people who could not afford them and never should have gotten them.

And Barney Frank et al (especially including Obama) are still forcing the lenders to continue in doing so. The latest is that even borrowers that LIED on their mortgage applications will benefit from the lenders being forced to rewrite the agreements so that the LIARS can keep their mortgages - even is they still can not afford them.

Let's face it: More and more people are recognizing what some of us knew all along...

What fact are you presenting here? I thought the majority still believed Obama was doing the right thing.

Reading comprehension... very important... a worthwhile skill...

How do you get from Pastor Larry saying, "more and more people" to "majority"?

 

[Pastor Larry]

I agree debt was a part of this, but it was not the total cause unless you also include the predatory practices of the lenders.

Predatory lenders did nothing that the market didn't allow. No one took advantage of me. No one forced anyone to take a bad deal on a loan. Put the blame where it belongs.

I believe some credit must also be given to the number of jobs that went overseas.

Jobs have been going overseas for years and for a variety of reasons, including (primarily) the cost of doing business in America. We all shop for hte best deal on things, which almost always includes consideration of price. Why shouldn't companies do the same thing?

What fact are you presenting here?

The fact that what is going on is hurting the economy, not helping it. I don't think there is any reasonable dispute about that.

I thought the majority still believed Obama was doing the right thing.

I didn't say majority (which you can tell by reading what I di say), but I have to ask: Is this the same majority that thought going into Iraq was justified because the president said so? Now they think Obama is doing the right thing because Obama said so? I don't think that is a good standard.

Look at the markets. They don't like it. And that's the economy.

 

[LeBuick]

Predatory practices of the lenders?

Barney Frank et al (including Obama and ACORN) forced the lenders to give mortgages to people who could not afford them and never should have gotten them.

So they were forced into designing balloon loans with stated income??? Come on man, get a grip. Some of the things some lenders did to put people in a loan was down right criminal. Now I'm not exclusively blaming the lenders, but they sure should shoulder SOME of the blame.

 

[LeBuick]

Predatory lenders did nothing that the market didn't allow. No one took advantage of me. No one forced anyone to take a bad deal on a loan. Put the blame where it belongs.

That's questionable, if I recall some were jailed for some of the bad loans they gave by falsifying documents etc....

Jobs have been going overseas for years and for a variety of reasons, including (primarily) the cost of doing business in America. We all shop for hte best deal on things, which almost always includes consideration of price. Why shouldn't companies do the same thing?

Let's take it from the top, if I in good faith take out a mortgage. Five years into paying my mortgage my job is sent overseas. How am I to pay my mortgage? So true, it is any companies prerogative to send jobs overseas, however it doesn't change the fact that rising unemployment is contributing to this crises.

I didn't say majority (which you can tell by reading what I di say), but I have to ask: Is this the same majority that thought going into Iraq was justified because the president said so? Now they think Obama is doing the right thing because Obama said so? I don't think that is a good standard.

Look at the markets. They don't like it. And that's the economy.

I feel the fact that the market doesn't like what he's doing is a good thing. It means what he's doing isn't just wallstreet friendly which means it must have some benefit on main street. I have no problem with that.

 

[Pastor Larry]

So they were forced into designing balloon loans with stated income??? Come on man, get a grip. Some of the things some lenders did to put people in a loan was down right criminal. Now I'm not exclusively blaming the lenders, but they sure should shoulder SOME of the blame.

Why? Someone comes to you and says, "I want to buy something from you" (in this case the use of your money), you are going to tell them no? The lenders should bear the blame for failed loans. They gambled and lost. That's their fault.

Let's take it from the top, if I in good faith take out a mortgage. Five years into paying my mortgage my job is sent overseas. How am I to pay my mortgage?

Get another job. What about the guy who takes out a mortgage in good faith and five years into it, he gets fired? Or the company shuts down? Or anything else? This is life. There are not guarantees.

I feel the fact that the market doesn't like what he's doing is a good thing. It means what he's doing isn't just wallstreet friendly which means it must have some benefit on main street. I have no problem with that.

The bulk of "main street wealth" in this county is on Wall Street. A vast majority of Americans are invested on Wall Street.

Your retirement and my retirement is being affected by the fact that the market doesn't like it. That's bad. That's not good. My investments are down almost 60% from their high 18 months ago, and I am very conservatively invested and very diversified. So don't tell me it's good for main street. I like it when Wall Street makes money because that means I do.

Trying to create class envy is a bad tactic, particularly when everyone's wealth is tied up in Wall Street.

So the fact that the market doesn't like it means I am losing money (on paper). It means I paid less taxes this year because capital gains were down. It means that I can't invest in some other things I was looking because I no longer have the money to do it.

It's bad all the way around.