Aptos Psychologist: More uncertainty as Obama continues Clinton’s low & no doc lending practices

More Uncertainty as Obama Continues Clinton's Low & No Document Mortgage Lending Practices
More uncertainty as Obama continues Clinton's low & no documents mortgage lending practices

Obama supports efforts to sue originators for robo-signing violations. The double whammy: Do what I tell you to do and when you do I will sue you to boot.

What Clinton started Obama continues — government mandate that Fannie and Freddie lend to people with little or no documentation. Hence the housing mess continues.

The Clinton administration required Fannie Mae and Freddie Mac to lend to low income, minority borrowers. In early 2004 senior management of Fannie and Freddie realized that the only way to meet Clinton political mandates was to massively cut underwriting standards. Which they did.

Per “The Failure of Models that Predict Failure by Rajan, Seru Viz, more than half of the mortgage losses reflected the predictable consequences of low-doc and no-doc lending.

If the under-writing standards at Fannie and Freddie circa 2003 had remained in place, nothing like the magnitude of the sub prime crises would have occurred. Taxpayer losses at Fannie and Freddie alone may exceed $300 BILLION.

Obama has perpetuated the low underwriting standards that gave us the crises. Obama encourages the postponement of foreclosures by lending support to various states’ efforts to sue originators for robo-signing violations.

Now Obama wants to sue the originatiors who fulfilled the politically motivated demands of the goernment-sponsored agencies that drove the morgage crisis.

For more, read The Mortgage Crisis: Some Inside Views in The Wall Street Journal, by Charles W. Calommiris, October 27, 2011.

DrCameronJackson@gmail.com

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Ho Hum, a Black [Republican] candidate leads in the polls …

Herman Cain is a fresh breath of air
Herman Cain is a fresh breath of air
Candidate Herman Cain is a breath of fresh air. Cain likes America. He believes in American exceptional ism. He grew up in America. He met a pay roll and turned around a couple corporations.

Unlike Gov. Perry and Gov. Romney, Cain has never thrown millions of taxpayer dollars down the drain of “green jobs”. And Cain does not appear to have much baggage — no 20 plus years like Obama who sat in a church listening to racist sermons by Reverend Jeremiah Wright.

Think of the different kind of Hope and Change that Cain offers: Anyone can hope to achieve to the highest office without having served on a school board or other elected office. And what a change that might be. Herman Cain would be in the league of George Washington, who also never served on a school board, never served as as mayor nor as governor.

That also might be Cain’s Achilles heel: will enough Americans vote for President someone who has never served in an elected office? I don’t know.

Considering how gracelessly Obama has served as President perhaps lack of experience as an elected official may not be so bad. DrCameronJackson@gmail.com

From The Best of the Web by James Taranto

Ho Hum, a Black Candidate Though Herman Cain’s race does agitate some on the left.

Reader Jeryl Bier, who passed along the piece from CNN.com, took offense at the headline: “Cain’s Race Not as Big an Issue With Conservatives as Obama’s Was Three Years Ago.” Writes Bier: “There is absolutely nothing in the article that supports the headline. Where is the evidence that Obama’s race was an issue with conservatives three years ago? On the contrary, his supporters are much more vocal about Obama’s race than his detractors are.”

True–so true, in fact, that it looks to us as though the headline writer was sloppy rather than tendentious. The comparison is between conservatives’ reaction to Cain today and liberals’ reaction to Obama then, or, to put it another way, between Cain’s and Obama’s appeal to the respective party bases.

As reporter Shannon Travis notes: “Many conservatives decry the focus on a candidate’s race as an obsession for liberals.” Travis cites an example from a rival network that shows why conservatives are right on this point: “Recently, in an interview with MSNBC, host Lawrence O’Donnell pressed Cain: Why didn’t he participate in the civil rights movement?” This actually doesn’t quite do the exchange justice: O’Donnell, a person of pallor, berates Cain for being insufficiently committed to civil rights half a century ago.

“There’s a second reason that some conservatives, particularly tea partiers, largely ignore Cain’s race,” Travis notes: “it drives a stake through claims that the movement harbors racists.” This seems to us a reversal of cause and effect. Conservatives and Tea Partiers ignore Cain’s race not because they have something to prove but because they didn’t care much about race to begin with.

Cain has, as Travis notes, “waded into the ‘who’s more black’ controversy–him or Obama,” telling radio host Neal Boortz: that Obama has “never been part of the black experience in America. I can talk about that. I can talk about what it really meant to be ‘po’ before I was poor.” Conservative talkers Laura Ingraham and Rush Limbaugh have puckishly picked up on the theme that, in Limbaugh’s words, “Herman Cain could be our first authentically black president.”

“These barbs from frequent Obama flame-throwers are surely meant as an intentional diss,” Travis observes, going out on a limb. “By any reasonable measure, the president holds the title of being the first African-American to occupy the White House.” True enough, although it’s worth noting–as we did last year–that whether Obama was “black enough” was a subject of intense controversy within the black community in the early stages of his campaign.

There’s one additional reason Cain’s race isn’t as a big a deal as Obama’s was: The question of whether a black man could be elected president has now been settled. When John F. Kennedy became the first Catholic president, it was a big deal. When John Kerry was a contender to become the second, hardly anyone noticed. We were much more interested in the possibility of electing the first haughty, French-looking president who by the way served in Vietnam. And if you even know that Joe Biden is the first Catholic vice president, you are a trivia champion.

If Cain’s race is a bigger deal than Kerry’s or Biden’s Catholicism, it is only because a black Republican is still unusual. That explains why liberal Democrats like O’Donnell are so agitated about Cain’s political rise. By disproving the claim that Republicans are racist, it threatens to dissolve the glue that binds blacks to the Democratic Party.

The Washington Examiner reports that Ed Schultz, host of MSNBC’s “The Mr. Ed Show,” has claimed that Cain “is appealing to white racists in order to win the Republican primary”:

“You think about white Republicans who don’t like black folks,” Schultz explained. “It’s almost as if this guy is trying to warm up to them and tell them what they want to hear.”

These white Republicans are so racist that they’re willing to elect a black man president just to keep black people down. The absurdity of that formulation underscores the left’s desperation to keep the idea of racism alive.

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Firenze Sage: Brown nixes tan [for CA minors]

No tanning beds for minors says Gov. Brown
No tanning beds for minors says Gov. Brown

California is the first state in the nation to ban minors from using tanning beds, legislators said.

Previously, California had banned minors under the age of 14 from using tanning beds, but allowed those between 14 and 18 years of age to use tanning beds with parental consent.

The bill was part of a cluster of legislation signed on Sunday designed to “improve the health and well-being of Calfornians,” according to a statement from the Governor’s office.
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Brown bans tan. Orwell weeps.

FirenzeSage48@gmail.com

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Aptos Psychologist: Obama’s re-election strategy to foment class warfare with help from ACORN, SEIU and Working Families Party

Obama's re-election strategy to foment class warfare may lead to riots?
Obama's re-election strategy to foment class warfare may lead to riots?

Will America in 2011 & 2012 see violence in the streets due to the re-election strategy of Obama which is to foment class warfare?

First step: Foment class warfare. Hence Obama’s speeches of late rail against the “billionaires and millionaires” who make more than 250 K. Though the top 5% of earners pay about 2/3 of all federal taxes, top earners “don’t pay their fair share” according to Obama.

Second step: Verbally support the Occupy Wall Street demonstrations. Which Obama has publicly done.

Third step: get financial backing for demonstrators from supporters such as Soros and ACORN type groups such as Working Families Party. A recent Y-Tube video interviews a paid volunteer making $22. an hour protesting against Wall Street.

DrCameronJackson@gmail.com

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Firenze Sage: [Occupy Wall Street] Rage against corporate excesses …

It started as a gathering of furious youngsters, protesting about the supposed lack of opportunities for the average American.

Conspicuously living among the politically active in the makeshift village in Zuccotti Park are opportunistic junkies and homeless people – making the most of the free food on offer.

Also present and infuriating the hard core of activists are a number of teens looking to turn the gathering into an urban rave.

Among the banners and flags are now discarded packets of condoms, cigarettes and bottles of spirits, while naked youngsters happily get together with just sleeping bags covering their modesty.

A box of free condoms is kept in the main area where protesters are camping. In one shocking picture, a man can be seen defecating on a police car.
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Oh the wisdom and integrity of them, or so says the New York Times.

FirenzeSage48@gmail.com

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Firenze Sage: Once a [Palestinian] refuge always a refuge …

50% Palestinian refugees will remain refugees & not citizens of new state
50% of Palestinian refugees will remain refugees & not citizens of new state

A statement by Ambassador Abdullah:

Palestinian refugees would not become citizens of the sought for U.N.-recognized Palestinian state, an issue that has been much discussed.

“They are Palestinians, that’s their identity,” he says. “But … they are not automatically citizens.”

This would not only apply to refugees in countries such as Lebanon, Egypt, Syria and Jordan or the other 132 countries where Abdullah says Palestinians reside. Abdullah said that “even Palestinian refugees who are living in [refugee camps] inside the [Palestinian] state, they are still refugees. They will not be considered citizens.”

The Palestinian Liberation Organization would remain responsible for refugees.

Moreover, the new state won’t provide these residents with any services: It expects UNRWA – or, more accurately, the American and European taxpayers, who provide the bulk of that organization’s funding – to continue providing their schooling, healthcare, welfare allowances, etc.

So almost half of all the Palestinians in the West Bank and Gaza Strip will not be citizens of the state that demands to be created in order for these same people to have a state.
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Well it looks like the peace process is just one huge scam. Surprise surprise!

FirenzeSage48@gmail.com

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Firenze Sage: Aren’t we lucky to live in a free society …[most common pet peeve at work]

Cutting toe nails is most common pet peeve at work?
Cutting toe nails is most common pet peeve at work?

Top pet peeve at the office? Surprisingly, the most common pet peeve listed involved, as Inspector51 put it, “the person who clips their crusty toenails at their workstation during slow periods.”
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I thought they did this while driving.

FirenzeSage48@gmail.com

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Firenze Sage: [King James] For where two or three are gathered together in my name, I am there among them.

"Where two or three are gathered together in my name..."
"Where two or three are gathered together in my name..."

An Orange County couple has been ordered to stop holding a Bible study in their home on the grounds that the meeting violates a city ordinance as a “church” and not as a private gathering.

Homeowners Chuck and Stephanie Fromm, of San Juan Capistrano, were fined $300 earlier this month for holding what city officials called “a regular gathering of more than three people”.

That type of meeting would require a conditional use permit as defined by the city, according to Pacific Justice Institute (PJI), the couple’s legal representation.
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Ye gods and little fishes!

FirenzeSage48@gmail.com

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Firenze Sage: I am (not) above the rules … says Oakland, CA mayor

Oakland Mayor's overgrown vegetation
Oakland Mayor's overgrown vegetation ...

Oakland Mayor Jean Quan acknowledged Thursday that she had failed to clear her hills property of overgrown ivy and brush, days after a resident showed up at a City Council meeting with photos of her home and called her the “Queen of Residential Blight.”
Pratt showed eight photos of Quan’s property and complained that the mayor was receiving special treatment because her property was allowed to remain blighted while other property owners were being cited. Pratt showed pictures of overgrown bushes and trees outside her home and damaged railings on her deck.
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Why follow rules designed for the other guy.

FirenzeSage48@gmail.com

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Firenze Sage: When in doubt, close a CA state park…

more CA state parks close
more CA state parks close

California’s beleaguered park system is preparing for a new round of closures that could affect a quarter of its protected areas, historic sites and nature preserves.

State Parks spokesman Roy Stearns said 70 parks are scheduled for closure this fiscal year.

The closure plan, announced in May, is expected to save the state $22 million over two years. It comes on top of the $75 million that had already been cut out of the parks budget over the past decade. Since 2009, deficits forced partial closure of 60 parks and deep service reductions in 90 others.

Of the 278 parks in the state, 150 have already been affected
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Why don’t we eliminate State perks such as cars, per diems, and junkets first.

FirenzeSage48@aol.com

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