Uh-oh...

[clocker]

one other coworker (his wife died of cancer and he had a lot of life insurance money) who lived on 16th St NW DC (prestigious address).

Back in the early seventies I lived at 16th and U St., NW.
I can assure you, it wasn't "prestigious" back then.

[Busyman]

one other coworker (his wife died of cancer and he had a lot of life insurance money) who lived on 16th St NW DC (prestigious address).

Back in the early seventies I lived at 16th and U St., NW.
I can assure you, it wasn't "prestigious" back then.

I dunno anything about back in the seventies, since I was a youngster. However, 16th and U St is still not "prestigious". Hell, that's two blocks away from the Reeves Center.

Try farther up northwest DC (probably past Military Rd) where there are no local businesses about.

That is prestigious. Hell it has Tudor style mansions.

[Rat Faced]

OK, I dont claim to know the stock market however I do know that the finance and energy sectors collapsed and that had a knock on effect on everything else.

Forgive me if I'm wrong but..

The Credit Crunch has been ongoing for over a year, so no one can blame Obama for that.

The Banks have to build up their balance books, so aren't lending.. which is their fault for stupid loans in the first place.. Obama wasn't in the picture when this happened..

The US Governemnt dont set the price of Oil/Gas, so hows he get the blame for this too?

I'm confused..

I hates Government, but I can't blame people that have just came into power for the excesses of Private Companies for over a decade.

I CAN put some of the blame on our poxy leader, as he was in power whilst all the crap was going on (although at the Treasury, not as PM) and it should have been stopped AT THAT TIME. Indeed, it was his desire to follow the American model that fuelled the British problems to their present scope.

Does this mean I blame Bush? Yes, in part, however I'd go back further.. I'm pretty sure that the deregulation happened before Bush (I may be wrong), however his administration has to take some of the blame for not changing the system. And the shit hit the fan on his watch.

[HeavyMetalParkingLot]

The Banks have to build up their balance books, so aren't lending.. which is their fault for stupid loans in the first place.. Obama wasn't in the picture when this happened.

Actually, obongo can take some blame on this. He in his "counseling" position with Acorn "guided" them into forcing banks to give loans to people who had no rights to these loans under the Community Reinvestment Act. People who had no qualifications, no source of income other than welfare or whatnot had to be given loans in order to get more "diversity" into homeownership.

Then when these public leeches default, Acorn swoops in to be the hero by breaking into these houses and letting the defaulters squat in order to "guide" these people in how to commit "civil obedience".

[clocker]

You really are delusional.
Obama's connection to ACORN consisted of representing them in a legal matter 12 years ago.
If you have proof of deeper more sinister ties, bring 'em on.

Furthermore, if every single one of the poor people you refer to (who, by the way, actually have a better repayment history than the mortgage industry average) DID default on their loans, it would have barely made a blip in our economy.

It was the financial industry's repackaging of mortgages/loans into ever more exotic instruments- all predicated on faulty data and projections- that lead to this mess.

I can see your point though...much easier to blame some poor folks- who are after all, known to be lazy and shiftless- than the financial fatcats who were happy to make the initial offers and rake in windfall profits.
Boy, they sure got blindsided, didn't they?
No way to see this coming when you have access to all the data, make the rules and manage the playing field.

Poor guys.

[HeavyMetalParkingLot]

You really are delusional.
Obama's connection to ACORN consisted of representing them in a legal matter 12 years ago.
If you have proof of deeper more sinister ties, bring 'em on.

Obama: "I’ve been fighting alongside Acorn on issues you care about my entire career…" (Steven Malanga, "Organizer In Chief," [New York] City Journal, Summer 2008)

"In 1992, Acorn Hired Mr. Obama To Run A Voter Registration Effort. He Later Became A Trainer For The Group, As Well As Its Lawyer In Election Law Cases." (John Fund, Op-Ed, "Obama's Liberal Shock Troops," The Wall Street Journal, 7/12/08)

I guess their little voter fraud issues were no connection also.

[clocker]

Wow, he really is the Antichrist after all.

[HeavyMetalParkingLot]

Wow, he really is the Antichrist after all.

Never made that claim.

[devilsadvocate]

While you apparently believe that the stock market is tethered to reality in any quantifiable way.
Fancy that.

Well Drudge tried his best. He had to change his headlines with each gust of wind

[devilsadvocate]

Wow, he really is the Antichrist after all.

So you're not on the the Hilter side of the fight then?

I was worried that the Obama dullness would ruin the comedy industry, fortunately he has introduced us to a whole new batch of cuckoos being driven over the edge.