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November 20, 2008

Community Activists Continue to Exacerbate Housing Crisis

The community activist types — like Barack Obama — who helped bring about our financial crisis by using Jimmy Carter's insane Community Reinvestment Act to terrorize banks into making bad loans based on race are still causing havoc. IBD reports on self-described "bank terrorist" Bruce Marks:

Bruce Marks, founder of the leftist Neighborhood Assistance Corp. of America, makes a good living shaking down banks for loans to deadbeat borrowers that he thinks are entitled to homes.
Last month, he and about 100 urban protesters stormed Fannie Mae's headquarters, demanding it stop foreclosures on subprime houses — the same homes his group pressured Fannie to fund.
As usual, the bullying tactics worked: Fannie Mae is now reviewing every foreclosure, while increasing the number of mortgages it restructures by lowering interest rates and extending loan terms to make payments more affordable. The government-backed firm guarantees some 30% of the nation's outstanding mortgages.
Marks founded Boston-based NACA last decade to fulfill his warped sense of the American dream. He thinks owning a home is a right, not a goal. And he thinks every American should have a house — even those who can't pay for one.
Marks, who proudly calls himself a bank terrorist, has extorted billions of dollars from Citigroup and other large banks to subsidize uncreditworthy borrowers in the inner city, where he accused the banks of "redlining."

Marks believes that expecting The Oppressed to have good credit or make a down payment before receiving a mortgage loan is "patronizing and racist." According to moonbat ideology, it is everyone's right to have the home they want at someone else's expense.

Even before The One ascends to the White House, the government is already infested with leftists who share Marks's viewpoint:

Congress' banking committee chiefs, Sen. Chris Dodd and Rep. Barney Frank, are also demanding banks stop foreclosures. And guess who they've invited to testify about that? That's right: Marks, who has proposed stopping all resets on subprime adjustable mortgages and allowing late payments for up to 90 days. Marks insists that regulators "force" lenders to restructure their loans to prevent foreclosures from going forward.

Marks gives an example of the sort of testimony he'll offer the socialists running Congress:

NACA has done lending the right way. No down payment. No closing costs. No fees. No perfect credit. At a below-market fixed rate.

This must have sounded wonderful, until society got the bill in the form of a collapsed mortgage industry that — combined with the corruption, irresponsibility, and incompetence of our congressional kakistocracy — is bringing down the entire economy.

bruce-marks.jpg
Soon folks like Marks will have complete control of the economy.

On tips from Dennis S, Watching, nanc, and Name.

Posted by Van Helsing at November 20, 2008 10:25 AM

Comments

Gosh, is he a Republican? I understand from the trolls that Republicans are solely responsible for the current fiscal crisis.

Posted by: V the K at November 20, 2008 10:42 AM

No way man! You see the eyes under his NACA? Thats Big Brother Watching You.

Posted by: Big_Daddy at November 20, 2008 11:08 AM

Those eyes are a very weird logo. Might I say - creepy.

Posted by: Kevin R at November 20, 2008 11:14 AM

Here is solid proof that the left brought on the economic collapse in this country. We're in big trouble when the ONE takes the white house. There are to many Bruce marks in the house and senate. Pelosi and Reid are going to finish the job that lefties like Marks started. I wish Ronald Regean was here. He's probably rolling in his grave right now.

Posted by: Watching at November 20, 2008 11:15 AM

Both groups like this and ball-less bank CEOs are to blame for the mess - they were like Laurel and Hardy on a bender doing shots of grain alcohol.

They should scan the banking world for small regional bank CEOs that never got caught up in this mess and put them in charge of turning around the banking system.

As for Bank Terrorist like this - tell them to ask George Soros, Marc Rich, Michael Bloomberg, Mark Cuban and Warren Buffett to hand over their billions to the people who cant afford to buy houses.

Posted by: Name at November 20, 2008 11:23 AM

And to think if the banks had the gaull to say no to that mans face, the trouble that we have now would have never happened. Hell, The One mibht have never gotten the white house. It could have been a big upset like with Truman.

Posted by: Big_Daddy at November 20, 2008 11:38 AM

Oh I'm sorry- I meant 'might'. hit b instead. Hey wheres Dino?

Posted by: Big_Daddy at November 20, 2008 11:40 AM

So if he calls himself a "bank terrorist", should he not be surprised if there's a big bullseye on his forehead and if anything "bad" happens to him?
You know, he just chose sides on the "war on terror" so he just made himself the enemy. I'm not advocating or suggesting somebody harm the dear Marky, I'm just sayin'....So please NSA or FBI, CIA don't knock on my door or pry into my record like Joe the Plumber.

Posted by: Anonymous at November 20, 2008 11:54 AM

COMMENT DELETED

Posted by: dino at November 20, 2008 11:57 AM

Dino, go drink some kool-aid.

Posted by: Moonbat Smasher at November 20, 2008 11:59 AM

So Dino, from that comment I see you have at least six neurons firing this morning. Good job, keep trying. Eventually you'll get enough firing to form a coherent thought and on that day we shall all celebrate.

Posted by: IOpian at November 20, 2008 12:13 PM

COMMENT DELETED

Posted by: Dino at November 20, 2008 12:33 PM

I know it sounds strange but at this point I'm just sad for Dino. I can't imagine the throes of loneliness and self-pity that would lead a person of his intelligence (or lack thereof, really) to spend hour after hour, day after day, spewing the same rhetoric on every post.

As a personal example, I think dailykos is worthless. I think the site is wrong on every point it tries to make. I think its readers are about as intelligent as my dogs, except my dogs understand how to behave. So, I don't go there. Why would I? I certainly wouldn't spend any amount of time there posting hateful rhetoric and generally just acting like a moron. It would be self-defeating.

I sometimes suspect that Dino may be a parody, but the stupidity and hate it emanates is just too palpable.

Like I said earlier, the craziest inmate in the psych ward thinks himself the only sane one.

Posted by: cowlove at November 20, 2008 12:37 PM

Van, maybe you need to use a filtering device for commenting. Some websites have people become members for posting, some have people simply type in a security code - I'm not suggesting any of those means for Moonbattery. Filtering out Moonbats with a question or two about recent history should do the trick.

Posted by: Kevin R at November 20, 2008 12:46 PM

Я может конечно и не права, но такое ощущение, что блог ведут два человека с разными взглядами.

Posted by: GywozyloM at November 20, 2008 12:46 PM

I know that most of us know this, but you cannot make poor people rich by making rich people poor. Banks get the money they loan out from depositors who expect their money back, with interest. These depositors include anyone who has a savings account. In serving 'the people', Mr Marks is coercing the bankers to assist him in robbing 'the people'.
Also, are you sure you've got that last name spelled correctly? I think that the ks should be an x

Posted by: James McEnanly at November 20, 2008 12:48 PM

Am I the only person who wonders if "Marks" was originally spelled with an "x" before it was Anglicized?

Posted by: Jay Guevara at November 20, 2008 12:52 PM

How many 'greedy' bankers would turn down a loan to a creditworthy applicant due to race? = That's right: NONE.

Posted by: Comrade 'X' at November 20, 2008 1:00 PM

Notice that most Marxists have facial hair like this guy. They are trying to emulate their heroes in the former Soviet Union circa 1935

Posted by: Anonymous at November 20, 2008 1:15 PM

That's right Dino keep spreading the hate. You are the perfect hypocrit and you have the right to be a stupid jackass. To me you are just angry leftist who needs to be taking meds. I feed on your anger and hate. Sounds like you don't have many friends. Don't you realize that eveyone on here thinks you're a fool plus you're the prime example of how a true left socialist acts as well as thinks. Keep up the good work! I'm learning about your kind. !LOL!

Posted by: Watching at November 20, 2008 1:19 PM

dhimmo is the NEAR perfect poster child of the left - honestly, i've seen few better - oh sure he's a little tame in his manner, but give him a few months and i'm sure he'll come full circle!

Posted by: nanc at November 20, 2008 2:02 PM

nanc

Dino sounds to me like an angry female or could be a shemale. All I know these are the kinds of people that are coming out of the wood work since Obama got elected. They are going to ruin this great society. These types of rejects are just setting us (conservatives)up to retake the White House. Let make fools of themselves...hell I'm enjoying the show. America will come to her senses once they get a taste of what is to come.

Posted by: Watching at November 20, 2008 2:13 PM

yeah, now if the maelstrom media would cover it...

Posted by: nanc at November 20, 2008 2:24 PM

Dino's a construct, can't even keep his story straight. One post he's working at MIT, next one he's in Oregon where he could, but doesn't choose to, enjoy the benefit of a civil union with his "life partner" or whatever they call each other. I wasn't aware the Massachusetts Institute of Technology had moved.

A real sore loser, and can't stand the fact that, although we have obvious disdain for the incoming administration, and are preparing for worst-case scenarios, we're not all having a childish, melodramatic emotional meltdown like the kostards did in 2000 and 2004.

These people are so accustomed to misery, and particularly blaming it on the fact that their guys aren't in office, that they can't conceive the idea that happiness comes from within. That by and large, the type of person that finds this site hospitable are going to be happy no matter what. That we're not going to fly into hysterics or depression just because we didn't have a candidate in the last election.

It just galls them to no end that they're not going to be able to make us suffer the way they make themselves suffer, although it's pretty obvious some of them would like to, even if it meant total annihilation. Neener neener.

Posted by: Mr Evilwrench at November 20, 2008 2:32 PM

nanc....I'm with you on that. Maybe one day they will fall out of love with THE CHOSEN ONE when he really screws things up bad.


Mr Evilwrench......You hit the nail square on the head. Well put.

This is why I like this place...logic and intelligents are the rule here.

Posted by: Watching at November 20, 2008 2:56 PM

watching - the big three will always be in the tank for the left and nearly everybody who cannot afford cable or satellite are exposed to them seven days a week - two to three times per day. some have no clue as to what's really going on. those same people can also NOT simply navigate a mouse and there you have your snowjobama supporters in a nutshell!

Posted by: nanc at November 20, 2008 3:02 PM

Someone just can't get past the simple idea that the DJIA responds to expectations of the future, not echoes of the past, which is why it started rising after the 1980 election and the 1994 midterms. And falling now? Hmm...

Posted by: Mr Evilwrench at November 20, 2008 3:24 PM

nanc

I dumped cable/satelite tv because I don't want to waste $800 a year for the unreported bias left media news and programing. I preffer to read and learn from others. I listen to radio, read and watch my 5 channels I get better information that way.

I see Dino is ranting again. I don't think she realizes that the economy affects him/her/it as well. Your right nanc dino is the poster child of the sick and twisted left.

Posted by: Watching at November 20, 2008 3:27 PM

Good night Dino. It's time for me to go. I am happy because I'm going to my house, make an adult beverage,feed my 2 cats and 1 dog. I think I'll make some shrimp alfredo for myself. Enjoy your gubmit cheese samich. You really do make my day Dino because your so insightful. You will learn how to live one day. It's either learn to live or some will take your life with the way you talk to people. Here is where the lesson begins.

Have a good night!!!!!

Posted by: Watching at November 20, 2008 3:38 PM

Hey dino!

Please tell us how YOUR PEOPLE are going to FIX the ecconmy. Obama has promassed to raise taxes which will mean less money for everyone. That will make things worse!

Posted by: KHarn at November 20, 2008 4:06 PM

You guys are missing a clue here.

Dino celebrates the loss of value of Americans' 401Ks and savings accounts (markets don't distinguish between someone's voting patterns).

That means...he doesn't have either of those.

Which means...he likely doesn't have a job.

Which completely explains his support of Obama, along with his hatred of anything different than himself and his denial of reality.

I suspected all of those earlier, but he kept on with his "robotic mule" reasearch job and his happy life with his gay lover.

The cat's out of the bag now, Dino, and I have even more reason to pity you. You will be the first among us to feel the pain of rising prices and a further collapsing economy.

Posted by: cowlove at November 20, 2008 4:53 PM

Thats not very christen of you dino. Rember, just because Big Brother is watching you dosen't mean that god is watching him.

Posted by: Big_Daddy at November 20, 2008 4:55 PM

"First thing I'd do is round up and destroy all the republicans and sterilize their kids."

I lol'd at this one, hard. I showed my wife and she laughed hard, too. Just the thought of some dim-witted, pimply shemale trying to do anything to my family is enough to greatly improve my mood via laughter.

I appreciate that mental image, really.

Posted by: cowlove at November 20, 2008 4:58 PM

Dino is Liberalism/socialism personified. Every time he comes on here, he shows that he is a moron.

He'll wonder what happened to his "Liberal paradise" when he can't afford the latest fad item, or when it's taken off the market as "frivolous".

Posted by: KHarn at November 20, 2008 5:19 PM

Ahh, yet another opening to illustrate a truth about history. Yes, 1987... for those of us who were actually there... but first, look up and understand a couple of terms: "Program Trading" and "Black Swan Event".

Some might call it an anomoly, but it was more of a bubble, sort of like the dot-com bubble or the more recent housing one. It was a combination of overexhuberance and overreliance on a computer model which was, like the computer climate models predicting global warming, shall we say... incomplete. The programming behind the program trading was done without accounting for all the possibilities. You can't really blame them; you live and learn. We learned not to rely on those models, for sure.

Yes, there was a big correction, after which there were some trading restrictions, but once the restrictions were lifted... nothing happened. The market had found its proper value on its own, and ended positive for the year, then proceeded to new heights. One sudden drop doesn't represent a pattern. Two weeks of serious lossage does. Periods of sustained growth do too.

Next?

Posted by: Mr Evilwrench at November 20, 2008 5:41 PM

yeah.... dino, you come try to "round me up". I bet you'd look great with a .357 round in your chest.

Posted by: metalgarth at November 20, 2008 5:48 PM

FOX News (number 2 in viewership behind only ESPN) just announced that Fannie/Freddie will suspend all foreclosures untill Jan 9..........

Oh, CNN fell to 11th place and MSNBC is below CNN.

I guess its hard for the libbatards to connect the dots to realize that FOX NEWS is better, generates more add revenue and is watched the most.

Posted by: Oiao at November 20, 2008 5:55 PM

Actually, since Obama will be a Carter experience relived, with much worse results, and Nancy and Ried are worthless and soon to be at each others throats with knives, 2010 and 2012 are going to be a big adjustment to the right.

The one thing about libbatards it they are incapable of "staying the course" (thank you Ronnie) and are very quick to eviscerate their own liberal politicians when they realize they are duped.

Case in point, Code Pink, ANSWER, MoveOn all are now turning on the One over several issues, and he ain't even living in the big house, oops, White House yet.

Posted by: Oiao at November 20, 2008 6:06 PM

Short attention span? I illustrated exactly what happened in 1987. It was a traumatic way to learn a lesson in overconfidence. Sometimes you just can't hang it on someone in particular.

2001? That was a toy recession, barely met the definition nationally, and didn't at all in many states. Stuff happens. Certainly nothing like what Carter left us with, which was considerably worse than he found it, or even 1991, which Bubba disingenuously called the "worst economy in the last 50 years" but was a bed of roses compared to 1979.

Practice your research skills.

Posted by: Mr Evilwrench at November 20, 2008 6:46 PM

Hey "Marks," (fooled me there), how about inviting some of those unfortunates to come live with you?

Posted by: Jay Guevara at November 20, 2008 7:07 PM

So I know this crisis will destroy lots of republican marriages and families.

How interesting, just so fags like you can move in on the single men and young boys. Somehow, I always knew you were just a sock puppet for Barney Frank.

Posted by: Doug at November 20, 2008 7:44 PM

Posted by: Onid at November 20, 2008 8:00 PM

I know it sounds strange but at this point I'm just sad for Dino...

cowlove, that whole response sums up how I feel, too.

Posted by: V the K at November 20, 2008 8:12 PM

Ditto on cowlove and V t K. Especially if it looks like the pic that Onid provided. ROFLMAO

Posted by: Oiao at November 20, 2008 8:14 PM

"Fully endorse, these same thoughts were."
Cydrickerie at November 20, 2008 8:11 PM


Huh?

Posted by: Jimbo at November 20, 2008 8:27 PM

He should be execute.

Posted by: Anonymous at November 20, 2008 8:38 PM

Dino flapped:"How'd your 401ks do today, brainstems? Losing your ass, aren't you? And you're mortgaged to the hilt from all those years of trying to look "prosperous" and successful!"
-Everyone's 401(k)s are taking a hit, yes.
-Mortgaged to the hilt? Not really. Not everyone is so stupid to get underneath a ridiculous mortgage for the sake of impressing anyone else. Some people are smart enough to live simply and comfortably without stretching themselves to the limit to appear "successful". And barring any kind of doomsday economic scenario, we'll be the ones who actually have money saved and enough to back us up in case of emergency. Speaking of 'to the hilt', how's your roomate?
-Losing our ass? Not really. But I hear you lose a piece of yours nightly to Fred Flintstone.
-Trying to look prosperous? Since conservative folk tend to be more satisfied with our lives in general than materialistic, superficial, liberal trolls, I'd say we aren't the ones who feel inadequate and need to inflate our egos with big houses and blinged out '82 Cavaliers. That and we understand the value of hard work and earning a living.

"Here's hoping you AND the kids spend the next few years HOMELESS! It's what you filthy pigs deserve for voting republican."
-And I wish you and your family (that's your Dad and his "friend" Francis) nothing but warmth and plenty of food this holiday season. For CHRISTmas I hope you get that Malibu Barbie you've been throwing tantrums for, and all of the Wii games you can carry.
-Homeless? Not quite. Read the above paragraph regarding not getting stuck under ridiculous mortgages and living reasonably.
Filthy Pigs? Ouch. I tremble in my Red Wing Shoes.
-What we deserve? I don't think so. All we conservatives want is what's best for America because we care about it. Don't confuse Conservatives with Republicans. They're not one and the same- just like all Democrats aren't liberal, brain-dead, goose-stepping trolls like yourself, who wish people harm and misery.

Posted by: Murff at November 21, 2008 6:30 AM

I don't think too many here are worried about homelessness or foodlessness. Most of us right-winger types are pretty responsible. I have some money in the bank, I'm highly educated, I've got good skills, and because I didn't spend my youth doing drugs or canoodling with terrorists, I have a security clearance. If I lose my job, I'll find another. If I lose my house, I'll rent. I won't go whining to the government for a bailout.

And if things get really bad, my family and my church have got my back.

This is as it should be. I would much rather rely on people I know and who know me than faceless bureaucracies.

Posted by: V the K at November 21, 2008 6:58 AM

Dino flapped:"How'd your 401ks do today, brainstems? Losing your ass, aren't you? And you're mortgaged to the hilt from all those years of trying to look "prosperous" and successful!"

I've been holding a bunch of cash for the last 12 months or so. Some my more "savvy" friends and family have told me I was an idiot for not investing it in the market - heh. I have a few thousand in the market. I've lost about $900 on paper - oooooh. As soon as the messiah says he will veto any new capital gains taxes, I might go into the market.

I have a mortgage on a little old house we bought this year with a good down payment. The balance is less than my annual income and the rate is low and fixed. The value has dipped slightly, but I don't live in a trendy area that had inflated prices, so it's still OK.

No debt on my cars, which are worth about 8% of my annual income combined - because I hate to blow money on cars just to "look prosperous". New cars are money holes, so I only buy used cars with cash.

I expect my income to come down significantly over the next couple of years, but we'll probably be alright. The less the governemnt tries to "help", the better off I'll be.

Posted by: forest at November 21, 2008 7:06 AM

People learn the bible for yourself at (bible.com) type in topics, example; homosexual, sin, hell, repent, endtimes, last days, Read the bible for your self. learn of Jesus Chrit; he said if you seek me you will find me.

Posted by: Tonya at November 21, 2008 5:11 PM

Has anyone else noticed that Dino's world view is exactly the world view of a consciously committed communist?

Posted by: Kevin R at November 22, 2008 8:15 AM