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Thread: The tent cities are back. Obamavilles popping up across America.

  1. #1
    Confederate

    The tent cities are back. Obamavilles popping up across America.

    Obamavilles In America

    Just like Hoovervilles in the depression. All of this is because of Obama and his bailout plan. Meanwhile, Obama’s so-called anti-foreclosure program is an incentive payment bonanza for predatory subprime lenders

  2. #2
    Chad750

    Re: The tent cities are back. Obamavilles popping up across America.

    They were springing up before Obama even took office. Granted he isnt helping the situation but it did not start with him.

  3. #3
    michaelr

    Re: The tent cities are back. Obamavilles popping up across America.

    Quote Originally Posted by Confederate View Post
    Obamavilles In America

    Just like Hoovervilles in the depression. All of this is because of Obama and his bailout plan. Meanwhile, Obama’s so-called anti-foreclosure program is an incentive payment bonanza for predatory subprime lenders
    You sure the basic monetary practices, the built in flaws within the system, and both the so called bailout, and the so called stimulus bill didn't have anything to do with this?

  4. #4
    nonsqtr

    Re: The tent cities are back. Obamavilles popping up across America.

    Quote Originally Posted by Chad750 View Post
    They were springing up before Obama even took office. Granted he isnt helping the situation but it did not start with him.
    Exactly. That scumbag George W Bush was the asshole-in-Chief when all this sh*t started.

    These shanty-towns oughta be called Bushville.

    God damn George W Bush. I hope that rotten f*cker ROASTS IN HELL!!!

  5. #5
    johnflesh

    Re: The tent cities are back. Obamavilles popping up across America.

    Quote Originally Posted by nonsqtr View Post
    Exactly. That scumbag George W Bush was the asshole-in-Chief when all this sh*t started.

    These shanty-towns oughta be called Bushville.

    God damn George W Bush. I hope that rotten f*cker ROASTS IN HELL!!!
    Yeah I agree with the Bush thing as he has his role in it, but instead of tenville, Obamaville, or Bushville, we should call it America. Sobering.

  6. #6
    justonemorevoice

    Re: The tent cities are back. Obamavilles popping up across America.

    ummmm, this started way before obama took oath. look at the date on this article:
    Tent city in suburbs is cost of home crisis | U.S. | Reuters

  7. #7
    nonsqtr

    Re: The tent cities are back. Obamavilles popping up across America.

    Quote Originally Posted by johnflesh View Post
    Yeah I agree with the Bush thing as he has his role in it, but instead of tenville, Obamaville, or Bushville, we should call it America. Sobering.
    Kay. Good. So, let's see if we can put some "reality" into this.

    Here's kinda the way I see it: greedy f*cks come in all colors. Especially red and blue, these days.

    The greedy f*cks in the Clinton administration, broke down the compartments in the banking industry, so their greedy f*ck banker pals, could make a little more money, and give them some of it in the way of campaign contributions and what not. "Perqs", or whatever - trips on private jets, things like that. And, it's a "corporate" thing we're talking about, 'cause the only way to make big money like that is on the back of a "big" corporation of some sort - you need a "big" operation to make it happen.

    So, now, switch admins, enter Bush - and all this while, the Republicans have been pointing fingers at the greedy immoral excesses of the Dems, and Bush during his campaign "promises" to deal with it - only, what happens? A little 9/11 thing, and suddenly everything changes. Everything goes the OTHER way - suddenly greed is good again, 'cause they tried to destroy our financial center, don't you know.... we'll SHOW those bastids who's in charge around here - so, what you see at THAT point, is the Fed interest rate remains un-necessarily low for a FULL YEAR AND A HALF, during which time everyone on Wall Street is making money HAND OVER FIST - only, HOW are they doing it? They're dong it using derivatives and credit swaps - the very same risky instruments which had been ALLOWED by the Clinton people and which the Republicans had previously declared "dangerous"!

    So now, in the name of American might and prosperity, we have these banker clowns running around pushing WAY risky securities, and because of the breakdown in oversight, they can actually sell 'em to THEMSELVES and use 'em as COLLATERAL FOR LOANS!!! And, they get away with this for a while, only, one day the banks in Germany and Japan waks up and say, "hey, wait a minute - this paper is worthless!" And suddenly they start DUMPING it, only... no one's buying! EVERYONE's figured out it's worthless! If you read the story on this one, and look at the timeline, you will that Goldman Sachs and other US banks dumped BILLIONS of dollars of lousy paper onto the Germans and Japanese, just DAYS before it tanked and became worthless. We STIFFED 'em, is what happened, and they're not very happy about it.

    So, then, because of all this, the economy starts tanking "in general", 'cause there's not enough money to go around anymore, 'cause everyone has to cover all this bad paper - so now suddenly we're in a situation of "diminshing capability" - that's when your burn rate is SO BIG that you have to start selling stuff off just to pay your bills. So, the first month, you still have a computer and you can still do your work, but three months later you gotta sell it to pay the rent, and now you don't have a computer so you can't print a resume anymore, so you can't get a job anymore! "Diminshing capability".

    And NOW, we're in a situation that's so dire, that we're basically needing to either "pawn" our stuff to get immediate cash, OR, sell it to the highest bidder and lose the capability entirely. We're 2 trillion SHORT in cash, and the only option we seem to have, is to spend MORE so our entire banking system doesn't go belly up 'cause there's just not enough confidence in it anymore. So now, Obama is "very fresh", he doesn't have the lay of the land yet, and to GET that, he has to bring in the very same people who originally caused the tank in the first place, 'cause they're the only ones who know how the game's supposed to work! That SUCKS! That's a HORRIBLE situation to be in!!!

    I am ENTIRELY pissed off, that those people who call themselves OUR "elected representatives" (and even our "leaders" when they're havin' a brain fart) - ever let this situation get this far! How could they DO something like that? That is the APEX of irresponsibility!!!

    Look here - there's only two possibliities: either a) they were truly ignorant and clueless and didn't understand AT ALL what they were doing, or b) they were doing it DELIBERATELY and they didn't care what would happen as a result of it.

    I really don't think there's ANY middle ground on this, I've studied this quite extensively, and the system did not just "go" here - this did not just "happen". NO WAY!!! This was put into place in a concerted manner over a long period of time, and it crossed party lines, and it had a lot to do with a very small group of powerful people. Like, did you ever notice how Bob Rubin's name keeps popping up all over the place? He was SecTreas when the Bliley thing happened, he was the one who called the gubmint on Enron's behalf asking for a bailout, he's been at the helm of Citibank which is the BIGGEST bailout recipient, and now he's in there asking for even MORE money 'cause he claims they need it to start loaning again.

    This whole thing, has to do with "Big". People who leverage "big", to suck on that particular tit for their own personal benefit. They're EXACTLY like welfare queens! Only, instead of sucking on the government tit, they're sucking on the corporate tit.

    And EITHER WAY, We the People end up paying for it! See what I'm sayin'?

    These clowns have us convinced that they're somehow "better" than welfare queens, 'cause they're engaging in "free enterprise" and making all the money "themselves". HORSESHIT!!! They're hustling, is what they're doing! They're no different from the guy on the streetcorner who's hustling for a quarter to go get a beer!



    These bankers are evil people, they're lazy, greedy f*cks and they're MAKING US SUFFER with this idiotic little game they're playing.

    They've gotten into bed with our government, and they need to be THROWN OUT!!!

    They managed to convince us to tear down the compartments in the banking industry because they said they were "antiquated" and they were "preventing the financial progress of the US economy" -

    Well, pal, you're seein' it now. The financial progress of the US economy. Straight into the DUMPSTER, is where it's progressing.

    Why the hell are we giving these people money???

    They have the People of the United States convinced, that "pain is avoidable", and they're milking that concept for EVERY PENNY IT'S WORTH!!!

    And when all the money's gone, and there ain't no more, THEN the pain will begin.

  8. #8
    nickcuse

    Re: The tent cities are back. Obamavilles popping up across America.

    Quote Originally Posted by Confederate View Post
    Obamavilles In America

    Just like Hoovervilles in the depression. All of this is because of Obama and his bailout plan. Meanwhile, Obama’s so-called anti-foreclosure program is an incentive payment bonanza for predatory subprime lenders
    mmm, partisan hackery at its finest.

  9. #9
    william the wierd

    Re: The tent cities are back. Obamavilles popping up across America.

    Your article claims 1.5 quadrillion in derivatives? That is an extremely low figure. By the way the derivatives market was promoted as a way to counter decreasing real risk adjusted returns and that goes back to at least Nixon. For example the probability of family income doubling or halving from one year to the next increased by 50% 1974-2003 ("High Wire" Peter Gosselin). When risk increases by 50% interest rates need to increase by 125% (Going from say 4% to 9%) or lenders will stop lending saved money. So the federal government discouraged savings and printed lending money: this strategy has now collapsed. On Obama's watch sure and his proposals will make things much worse but his idiotic ideas from the New Deal crypt have not yet kicked in.

  10. #10
    Davocrat

    Re: The tent cities are back. Obamavilles popping up across America.

    Quote Originally Posted by Confederate View Post
    Obamavilles In America

    Just like Hoovervilles in the depression. All of this is because of Obama and his bailout plan. Meanwhile, Obama’s so-called anti-foreclosure program is an incentive payment bonanza for predatory subprime lenders

    Oh, white people love campin'!

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