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  1. #1
    Jesus Christ is Lord

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    Default Barack Obama pushed banks to give subprime loans

    With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans
    Progressive activists’ ambition instead contributed greatly to a housing bubble that burst in 2007, crashed the nation’s economy in 2008, wiped out at least $4 trillion in equity, kept unemployment above 8 percent for four years, and damaged the intended beneficiaries of looser mortgage lending standards. In the White House, Obama has continued to intensify regulatory pressure on banks to provide more risky loans to African-Americans and Latinos. He has used lawsuits to fund his allies. And taxpayers are now unwittingly contributing to a re-inflation of housing prices.
    Read more: With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans | The Daily Caller



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  2. #2
    Scab Hating Union Thug

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    Default Re: Barack Obama pushed banks to give subprime loans

    Interesting....I wonder how many right wing politicians and their financial backers have done the same thing?....But then again, silence is golden right Strappy?....Or should I say silence from the right?....Or should they continue to perpetuate another lie?....Really seen some dandy's as of late. The fact check-0-meter has quite a few "pants on fire" ratings coming from the Mittens camp.
    Last edited by 222lifer; 09-03-2012 at 09:55 PM.

  3. #3
    Jesus Christ is Lord

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    Default Re: Barack Obama pushed banks to give subprime loans


  4. #4
    Retired !

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    Default Re: Barack Obama pushed banks to give subprime loans

    Quote Originally Posted by 222lifer View Post
    Interesting....I wonder how many right wing politicians and their financial backers have done the same thing?....But then again, silence is golden right Strappy?....Or should I say silence from the right?....Or should they continue to perpetuate another lie?....Really seen some dandy's as of late. The fact check-0-meter has quite a few "pants on fire" ratings coming from the Mittens camp.
    Here is a good one from Mitt and Bain Capital.
    We are going back into the nineties, but so did strappy with his piece on Obama.

    In 1989, Bain Capital purchased controlling interest in Damon Corp., a medical testing company located in Needham, Massachusetts.

    During the time that Bain held its ownership of the company, Mitt Romney personally sat on the Board of Directors. And during that same period, Damon Corp. was busy submitting fraudulent reimbursement claims to Medicare to the tune of millions of dollars charged for unnecessary blood tests.


    And now he says he is going to clean up Medicare ?

    According to the court records, “…the Damon executives’ scheme continued throughout Bain’s ownership, and prosecutors credited Corning, not Romney, with cleaning up the situation.”

    But there is an explanation – it turns out that the Damon experience was a foreshadowing of the Mitt Romney to come as he engaged in one of his now infamous episodes of flip-flopping.

    You see, before Romney indicated that he was involved in conducting an investigation while he was on the board of directors, he said that he was completely unaware of any investigation.

    Here’s another shocker. While the company eventually went bankrupt, with thousands losing their jobs, Bain Capital walked away with a $12 million profit—a little over $400,000 of that money ending up in Mitt’s pocket.

    Romney Supervised Medical Testing Company Guilty Of Massive Medicare Fraud - Forbes

    To sum up, a few lies, some flip-floping and a few hundred thousand dollars of profit for Mitt and Medicare fraud that we, the taxpayers covered.
    All that and thousands of people lost their jobs.
    Well done Mitt.

 

 

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