New "Hooverville's" Are Springing Up Everywhere

[nacktman]

America's New Sub-Prime Shanty-Towns


http://craphound.com/images/modernhooverville.jpg In this chilling BBC clip, a news team ventures to one of LA's new shantytowns made up of people who've lost their homes in the sub-prime meltdown and now live in tents, improvised shacks or RVs on abandoned land.
It's the Hoovervilles (http://en.wikipedia.org/wiki/Hooverville) of the Great Depression all over again and as a result of republican policies again as well.
I wonder why I found out about this from the BBC and not the US media ... not:eek:. Link (http://www.youtube.com/watch?v=CnnOOo6tRs8)

[nacktman]

Fixed the link.

[KirkOntario]

Specifically what Republican policy was involved in the subprime crisis? Republicans don't lend money. Banks do.

[nacktman]

I suppose you are going to tell us it was the "banks" who rescinded and/or relaxed the regulations governing them, themselves.
Allowing the repeat of the 20's when they were encouraged by the republicans to make stupid financial moves so that a few could reap huge and disproportionate monetary gains.
It is no quirk of fate that all the catastrophic drops in the Stock Markets around the world have occurred during republican governments - whoover. raygun and the shrub.
It is also not a quirk that the largest displacement of persons from their homes occurred at the same time, either.
Just has the greatest number of jobs lost have occurred when the stock markets and financial markets have collapsed during republican control.

[usmc1]

Specifically what Republican policy was involved in the subprime crisis? Republicans don't lend money. Banks do.

And bankers vote for Democrats? Yeah, riiiiight, Kirk. Dude, you're a one-trick pony that counts to two, with the notion that you're performing math.

[KirkOntario]

Bankers vote for whomever they want. What does voting have to do with making bad loans?

[KirkOntario]

I suppose you are going to tell us it was the "banks" who rescinded and/or relaxed the regulations governing them, themselves. .

Name the specific regulation that was relaxed which led to the subprime crisis. I'd like to know which it was.

[Qikdraw]

What Happened to the Bootstraps? (http://smirkingchimp.com/thread/13525)

Qikdraw

[usmc1]

You can be Anal Retentive on your own time.
You've blown your second chance already.
Go and do the research on your own.

I know, I know, folks, it won't happen but trolls need to be told in baby steps where to go even though we all know they won't go there.

Oh Nacktman, don't be so rough on the Kirk dudester.

Go ahead and tell him aboutThe OCC. It has been in existence since the Civil War. Its mission is to ensure the fiscal soundness of national banks. For 140 years, the OCC examined the books of national banks to make sure they were balanced, an important but uncontroversial function. But a few years ago, for the first time in its history, Bush's minions (Republican appointees) used the OCC as a tool against consumers. In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative.

Badda bing, badda boom!

There's more but, let's do it in those baby steps.

[KirkOntario]

You can be Anal Retentive on your own time.
You've blown your second chance already.
Go and do the research on your own.

I know, I know, folks, it won't happen but trolls need to be told in baby steps where to go even though we all know they won't go there.

Are you saying you aren't willing to back up your own assertion that it was a Republican policy that caused the subprime crisis? What specific regulation was relaxed which caused this lending crisis?

[nacktman]

Oh Nacktman, don't be so rough on the Kirk dudester.

Go ahead and tell him aboutThe OCC. It has been in existence since the Civil War. Its mission is to ensure the fiscal soundness of national banks. For 140 years, the OCC examined the books of national banks to make sure they were balanced, an important but uncontroversial function. But a few years ago, for the first time in its history, Bush's minions (Republican appointees) used the OCC as a tool against consumers. In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative.

Badda bing, badda boom!

There's more but, let's do it in those baby steps.

Dang it usmc1, now it'll never do it's own research!:sneaky:

[naturalmanwa]

We can argue politics on this site till the sun burns out, but it won't help the homeless and the rest of us Americans that are strapped financially! It is GREED that causes the problem, not the political party. Big business has always called the shots in government. I have said it before and will repeat now, "there is something wrong with a system that allows its citizens to go in need while aiding foriegn governments"!

[nacktman]

naturalmanwa, you are quite correct, it IS greed that is to blame for the severe depression we are going into.
As you say Big Business is the major cause but it is the policies of the republicans that allows the excesses and outright criminal actions of Big Business.
The republican party has ever been known by those within and those not within the party as the Party of Avarice.
It is the poor and working people who pay for their greed.

[KirkOntario]

naturalmanwa, you are quite correct, it IS greed that is to blame for the severe depression we are going into.
As you say Big Business is the major cause but it is the policies of the republicans that allows the excesses and outright criminal actions of Big Business.
The republican party has ever been known by those within and those not within the party as the Party of Avarice.
It is the poor and working people who pay for their greed.

What policy? Are you referring to the occasion when Bill Clinton signed into law the repeal of the Glass-Steagall Act?

[usmc1]

What policy? Are you referring to the occasion when Bill Clinton signed into law the repeal of the Glass-Steagall Act?

Which reinforces my assertion that Clinton was a Chamber of Commerce Republican (Republican Lite), which helped drive the conservatives crazier than they already were. That and the fact that he was a playah, and finding a little here and there as opportunity presented itself. JEALOUSY AND ENVY!:laugh: