i was shocked at the interview w/ Waxman. How can he not know what the drinking age is? This is an example of one of the democratic idiots that has ruled congress the past few years and put this country in some of the binds its in now. Amazing how Michael Moore isn't interested in making a film about him. LOL.
shareI found it very interesting that Waxman was the chair of the committee overseeing the Steroids in Baseball hearings.
After all, this man is the representative of L.A. Nothing states artificial enhancement like Hollywood.
Will he go after all actors who juiced for a movie role? Will he go after all the cosmetic surgery patients who want to improve their looks (or performance) by injecting something artificial in their bodies?
You think we are in this bind because of a Democrat controlled congress? You must be a moron.
Waxman was an idiot, but by no means is the reason behind the current economic crisis. Look to Bush and a greedy market for that.
Bush and greedy market...goldviper you are the real moron douchebag..
more like Barney Franke and all the other liberals that tried to push non credit worthy minorities into houses when they had no money and bad credit through programs like the CRA ... always blame bush like a broken record ..he had nothing to do with this no go hold up your obama sign , bend over grab your ankles and start redistributing your paycheck
Wow, so your a racist, nice.
And a greedy market that continues to build houses until the bubble burst, come on, why do you think so many people are losing their homes. As if we coulndt figure out by now how the market fluctuates, and thus prepare for it. No, people get greedy, make the buck now, when they can, and *beep* tomorrow.
Barney Frank, really? Lets see, when Clintons in office we have a surplus and the worst thing we worry about is if he got a BJ and from who. Now we worry about wars, the economy etc. Im not a Bush blamer, but when it comes down to it, he had a hand in it, just like Wall Street.
Turn around and blame it on minorities, really nice. Reread what you wrote, you sound like a really bitter, calused person who should enjoy life and not go on IMDB and try and argue your warped mentality.
I mean you told me to eat my own s**t for godsake, whats wrong with you?
The CRA was passed by the 95th United States Congress and signed into law by President Jimmy Carter in 1977 as a result of national pressure to address the deteriorating conditions of American cities—particularly lower-income and minority neighborhoods..this is not being racist..this is the truth. further
Although not part of the CRA, in order to achieve similar aims the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 required Fannie Mae and Freddie Mac, the two government sponsored enterprises that purchase and securitize mortgages, to devote a percentage of their lending to support affordable housing.[10] How they doing now?
In October 2000, in order to expand the secondary market for affordable community-based mortgages and to increase liquidity for CRA-eligible loans, Fannie Mae committed to purchase and securitize $2 billion of "MyCommunityMortgage" loans.[19][20] In November 2000 Fannie Mae announced that the Department of Housing and Urban Development (“HUD”) would soon require it to dedicate 50% of its business to low- and moderate-income families." It stated that since 1997 Fannie Mae had done nearly $7 billion in CRA business with depository institutions, but its goal was $20 billion.[21] In 2001 Fannie Mae announced that it had acquired $10 billion in specially-targeted Community Reinvestment Act (CRA) loans more than one and a half years ahead of schedule, and announced its goal to finance over $500 billion in CRA business by 2010, about one third of loans anticipated to be financed by Fannie Mae during that period. How did this fare out for them?
its also barney frank that assured us on several occassions everything was fine. what a crook. hands in the pockets of fannie mae / freddie mac the whole time.
shareYou didn't answer my question. What's wrong with you?
shareSo you're copying and pasting wikipedia's entry on the CRA (which says very little about it's relation to the most recent financial crisis) to attempt to support your blind partisan agenda? Okay... well, here's information relating directly to the CRA and it's supposed role in the crisis:
http://en.wikipedia.org/wiki/Global_financial_crisis_of_2008%E2%80%932009#Sub-prime_lending
"A 2000 United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all US mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998.[67] Nevertheless, only 25% of all sub-prime lending occurred at CRA-covered institutions, and a full 50% of sub-prime loans originated at institutions exempt from CRA.[68]
An analysis by the Federal Reserve Bank of Dallas in 2009 concluded unequivocally that the CRA was not responsible for the mortgage loan crisis, pointing out that CRA rules have been in place since 1995 whereas the poor lending emerged only a decade later.[69] Furthermore, most sub-prime loans were not made to the LMI borrowers targeted by the CRA, especially in the years 2005-2006 leading up to the crisis. Nor did it find any evidence that lending under the CRA rules increased delinquency rates or that the CRA indirectly influenced independent mortgage lenders to ramp up sub-prime lending.
Others have pointed out that there were not enough of these loans made to cause a crisis of this magnitude. In an article in Portfolio Magazine, Michael Lewis spoke with one trader who noted that "There weren’t enough Americans with [bad] credit taking out [bad loans] to satisfy investors’ appetite for the end product." Essentially, investment banks and hedge funds used financial innovation to enable large wagers to be made, far beyond the actual value of the underlying mortgage loans, using derivatives called credit default swaps, CDO and synthetic CDO. As long as derivative buyers could be matched with sellers, the theoretical amount that could be wagered was infinite. "They were creating [synthetic loans] out of whole cloth. One hundred times over! That’s why the losses are so much greater than the loans."[70]
Economist Paul Krugman argued in January 2010 that the simultaneous growth of the residential and commercial real estate pricing bubbles undermines the case made by those who argue that Fannie Mae, Freddie Mac, CRA or predatory lending were primary causes of the crisis. In other words, bubbles in both markets developed even though only the residential market was affected by these potential causes."
Republican controlled congress who forced Clinton to accept reforms that brought about the budget surplus. Study history before assinine claims.
Liberals think conservatives are evil;
Conservatives think liberals are stupid...
<<<<<<<This is an example of one of the democratic idiots>>>>>>>>>
Yeah, and all the republicans are certified geniuses... like Bush?
I think it was a bipartisan effort. BOTH the Dems and Repubs have helped screw this country up (Bush, Frank, Cox, etc). And listen to you guys anyway. Someone points out Waxman made a fool of himself and the conversation degenerates into hatred and name calling.
We've got to get past this kind of political bitterness if the country is ever going to recover. Can't everyone at least agree on that?
Much like the people in our national government, people on this board would rather play politics and point fingers to try to make the political idealogies that their party subscribes to look good instead of, you know, everyone taking responsibility and getting our country back on track.
Harcore conservatives and liberals, kudos to you all!!! Your blind allegiance to your political parties is what keeps anything from ever changing in this country.
And I highly doubt that being a dumbass (like Waxman) is exclusive to one party or the other. The guy just used it to (surprise surprise) bash the party that he doesn't belong to!
Yawn....
yes, i agree. somewhere it has to stop. a lot of painful history on both sides. i understand that there have been plenty of republican screw ups as well as democrats. in the end the american people suffer. and the extremes only keep getting more extreme from what i can tell. i hope obama can help bridge the gap. i am closer to being a republican, but its clearly for the betterment of our country to have him succeed.
shareLucid you are a complete and utter moron of you are trying to make this a partisan issue. The fact of the matter is that all politicians are ignorant of the facts regarding steroids, and I am quite sure that Bell was criticizing politicians in general. Btw, Democrats alone cannot be blamed for our current state of affairs. Congress was ruled by a Republican majority for most of Bush's two terms, so get your facts straight or stfu.
shareDon't bother. The hardcore lefty and righty idiots will over politicize any situation to try and make their party look better.
They're all just "fiddling while Rome burns". They're not the ones who are going to solve the mess our country's currently in.
" Congress was ruled by a Republican majority for most of Bush's two terms, so get your facts straight or stfu."
The first two years of Bush's first term, the Senate was Democratic-controlled, and a slight (non filibuster-proof) Republican majority in the House.
The middle four years of Bush's two terms, both Houses of Congress were Republican-controlled.
The last two years of Bush's last term, had a Democratic-controlled Senate and House.
So get your facts straight, or stfu.
>i was shocked at the interview w/ Waxman. How can he not know what the drinking age is?
Waxman seemed reeeally gay. And the moustache don't help.
Michael Moore?
shareHenry Waxman is one of the biggest morons you will ever meet, and I know this firsthand.
I am shocked that Henry Waxman actually makes a decent wage to do a job. Trust me, he doesn't deserve it.
if u read my later posts you would have seen i WASN't making it a partisan issue, simply that Waxman is an idiot. there are idiots on both sides. the sooner we weed out the idiots the better. and if you are far left and not willing to admit democrats have idiots as well, then its time for you to stfu
shareHeh... I love how lucid768 goes on his mini-rant about Waxman in this film (and tries to use it tar all democrats in congress), yet completely ignores the republican politicians that also look extremely bad in this film. Just goes to show you how naked partisanship destroys someone's conception of basic realities...
shareThe guy is just being a politician. They are meant to babysit us, but are terrible doing it. If we try to be indie from them, they unleash the police upon us.
Guess there really are people who act worse than 12 year olds.