Community Reinvestment Act

[hoglahoo]

they were told and convinced that they could afford that debt

It's no wonder we have so many tax-and-spend liberals holding political office considering how many people are as gullible as that

[Crotalus]

Why would one need term limits or start a civil war instead of simply voting the people in power out of office? I've posted this many times, but the real approval ratings of congress are pretty much where they've always been at 90%.
My take on it is that the only reason is that people like the gentleman on the video are only good for talking the talk. Until 50%+1 of the american voters look at the mirror and start acting there's not going to be any change whatsoever.


I've got two words "Kool Aid".

Congress' approval rating 90%? I don't know where you get your poll numbers, but I've not heard a number over 40% in years. A Gallop poll says 10% today.

[Kantian Pragmatist]

I'm not sure what's sadder. That you don't believe simple arithmetic, you can check all the numbers I posted on Wikipedia or the CBO website and do the math yourself, or that you believe such an obvious con. For one thing, his numbers start way too big, because he's including Social Security and Medicare, which, right now, are already paid for. They have their own funding streams. For another thing, he's arbitrarily limiting the pool of tax payers far beyond reason. If anywhere from 40% to 80% of the rest of the country makes less than you do, you're already paying around 30% in Federal taxes alone. Nobody, anywhere, is talking about removing all Federal taxes, and then only imposing taxes on a select few very wealthy people. We're talking about raising taxes on all the very wealthy people, from the average 17%-22% in total effective taxes, (i.e., including state and local taxes) they're paying now to something more like 35%-40%. Federal income taxes, excise taxes and other taxes plus the Social Security surplus which by law has to be loaned to the Federal Budget already add up to a bit more than $1.5 trillion. To plug the deficit, you only need to find an additional $500 billion. Raising taxes on those making more than $250k a year to a mandatory minimum of 30% nearly does it all on its own.

[gugi]

Congress' approval rating 90%? I don't know where you get your poll numbers, but I've not heard a number over 40% in years. A Gallup poll says 10% today.

I said real ratings, the ones that are based not on what people say, but on what they do. Check the numbers yourself. Talking is easy, but I am not as gullible as to take everything I hear at face value. On the other hand actions is what really matters.

[hoglahoo]

Congress' approval rating 90%? I don't know where you get your poll numbers, but I've not heard a number over 40% in years. A Gallop poll says 10% today.

The last congressional election - or should I say reelection - saw about an 80% retention rate. Gugi cherishes his 90% number but you can look up the real numbers for yourself It's true that only 10% of people polled approve of what Congress is doing, but that is as a whole. So we like the people we vote for (or at least consider them the least rotten choice), but we dislike the people others vote for

[gugi]

The last congressional election - or should I say reelection - saw about an 80% retention rate. Gugi cherishes his 90% number but you can look up the real numbers for yourself

No, it's just that the government school was able to teach me the correct mathematical rounding.

It's true that only 10% of people polled approve of what Congress is doing, but that is as a whole. So we like the people we vote for (or at least consider them the least rotten choice), but we dislike the people others vote for

Or in other words the system the founding fathers set up is flawed at its core. I didn't realize you're even more cynical than me

[Kantian Pragmatist]

Congressional approval is certainly not at 90%, but I believe what gugi means is that voters usually support their own Congresscritter and hate everyone else's, or Congress in general. I believe, however, that this upcoming election is one of the first where even the average of the support for one's own Congressperson is below 50%. Support for the Congress in general has been bouncing between 10 and 15% since at least the middle of Bush's second term.

And people are gullible, which is why it's important to have laws and police in place to protect people from being taken advantage of due to the sorts of gullibilities we know about and can protect against. Imagine if the wholesalers of the Gold Dollar razors and Kreigar razors were able to sell their wares in the Vendor's section here, make posts all over the forums about how great their products are, and harass and sue the people who make valid critical posts about their products, even if they never win those suits on the merits. How many people would get scammed into buying trash, and how much would the community be hurt by it if that were allowed, because of newbies who got frustrated and quit, instead of buying more razors from reputable traders, refurbishers and manufacturers, to say nothing of the strop-makers and the soap-makers, or sticking around to provide support for the next generation of newbies?

[hoglahoo]

Or in other words the system the founding fathers set up is flawed at its core. I didn't realize you're even more cynical than me

Democracy is the worst form of government except for all those other forms that have been tried

[hoglahoo]

Imagine if the wholesalers of the Gold Dollar razors and Kreigar razors were able to sell their wares in the Vendor's section here

Ha, I can't believe you thought anyone would fall for that weak analogy. The idea that a bank has to tell me whether I can afford a certain monthly payment is ridiculous, but I won't argue that it isn't in the best interest of a lot of consumers, corporations, and governments. It's just another example of nanny-state reaching another of its many arms out to the poor and ignorant masses. A newcomer to straight razors being ignorant of what razors to avoid is just as normal as knowing how much money one brings in and spends every month. So your analogy, while interesting, fails.

[Kantian Pragmatist]

Yes, I'm sure most people are able to negotiate the pages and pages of highly technical terms and conditions written in the tiniest print possible that make up your average mortgage, or even credit card loans, even when they throw in such variables as adjustable rates and multiple, stacking fees, as well as accurately judge their future earnings for the next 10-30 years, despite the reams of evidence that say they can't. And I'm sure that loan originators who earned a commission on each loan they gave out regardless of its quality weren't doing any sort of pressuring to get people to take out as much credit as they could, and stayed up at nights worrying whether those loans would be repaid, even though they'd already been sold on to the funds that manage American's retirement investments and insure housing loans, while actively covering up how unlikely is was that those loans would be repaid at all.

Nope, the real criminals here are the factory worker who got a second mortgage on his house on the assumption that he'd get a raise, when he got laid off instead, or the 18 year old student who was never taught personal financial management in high school who maxed out his loans in order to concentrate on school and not have to work, but can't find a job when he graduates because he's got no "experience" and this crappy jobs market, or the family who's car breaks down and they put it on the credit card, but they miss a payment due to forgetfulness or the kid needing their braces fixed and are now faced with 25% interest and huge fees, to be paid in full on the next payment or incur even more fees and higher rates of interest. Hey, the banks are just doin' business here. Sounds like something you'd hear Joe Pesci say in Casino.

A newcomer to straight razors being ignorant of what razors to avoid is just as normal as knowing how much money one brings in and spends every month. So your analogy, while interesting, fails.

Except that most people aren't really all that aware of how much money they bring in or spend every month, nor are they very good at judging how much they're going to bring in or spend in the future, when they'll have to be making payments. It's a very human flaw and it's very predictable, and if you're taking the position that we shouldn't protect people from it, then you're insisting that we live in some sort of la-la land that ignores reality. It's the same as the conservative position opposing mandatory safety devices in automobiles, despite the millions of lives they've saved.