My newest blog, Obama got a new rug!

[Dusty]

Hey all, I just did a blog about Obama's new rug, come on over and take a peek and tell me what you think.

http://rugbadger.com/blog/news/obama...-rug/#comments

[SDSinc]

I hope it will fit in his house in Chicago in 2012.

[LisaWagner]

I hope it will fit in his house in Chicago in 2012.

LMAO!

I'm soooo disappointed to see Obama come into "my" rug playground here... I do all I can to avoid him, because he's spending money faster than we can all make it.

Lisa

[steven smith]

Well, Bush couldn't take is rug home because he had other peoples blood on his, plus he had a bail out too but we don't talk about that and a trillion dollar war over Weapon of Mass Deception and his Blue Print for the American Dream that caused the housing bubble!!!!

[SW*]

Well, Bush couldn't take is rug home because he had other peoples blood on his, plus he had a bail out too but we don't talk about that and a trillion dollar war over Weapon of Mass Deception and his Blue Print for the American Dream that caused the housing bubble!!!!

I always love when someone...so eloquently...defends how poor Obama is doing by criticizing Bush. "Bob, you have doing a terrible job running my company....what do you have to say for yourself?" ...."Well sir, the last manager stole your money, slept with your wife and shot your dog." Oh, I get it. Obama is doing a great job.

[SDSinc]

Well, Bush couldn't take is rug home because he had other peoples blood on his, plus he had a bail out too but we don't talk about that and a trillion dollar war over Weapon of Mass Deception and his Blue Print for the American Dream that caused the housing bubble!!!!

I wont even comment on most of this ridiculous statement. I have not the time nor the patience to educate another lost soul. However if you are at all interested in educating yourself start with the real reason we had a housing bubble and what caused sub prime mortgages to be born in the first place. Google the 'Community reinvestment act.' It has democrates dirty little fingerprints all over it, long, long before Bush came into office.

Actually here is a link-

http://en.wikipedia.org/wiki/Community_Reinvestment_Act

[Kev Berry]

Rick, Wall Street greed, is the reason we had a bubble. That and the lack of over-site in Mortgage Banking Accounting, allowing diverse mortgage loans to be written up as fully amortised and paid loans, which is why there where so many POA loans. Wall Street investment bankers decided on guidelines which allowed for sub-prime loan origination to go out of control. I still have old emails from my mortgage banking and brokerage days with awesome deals like stated income, 580 fico, 100% financing. The housing bubble was really a perfect storm situation with several factors coming together to create one big mess. If the same factors came together for Republicans or Democrats the outcome would have been the same.

[SDSinc]

Rick, Wall Street greed, is the reason we had a bubble. That and the lack of over-site in Mortgage Banking Accounting, allowing diverse mortgage loans to be written up as fully amortised and paid loans, which is why there where so many POA loans. Wall Street investment bankers decided on guidelines which allowed for sub-prime loan origination to go out of control. I still have old emails from my mortgage banking and brokerage days with awesome deals like stated income, 580 fico, 100% financing. The housing bubble was really a perfect storm situation with several factors coming together to create one big mess. If the same factors came together for Republicans or Democrats the outcome would have been the same.

I don't agree. But you make good points. The policies set by Washington dictate the way buiness is done. You can't blame the free market for working in and taking advantage of those rules. Sure greed played a part, but to quote Gordon Geko, "greed is good".

[kingjoelking]

And yet strangely the Wallstreet Reform did absolutely nothing to regulate mortgage lending practices or Freddy Or Fannies high tolerance if not promotion of bad loans.

[Kev Berry]

I don't agree. But you make good points. The policies set by Washington dictate the way buiness is done. You can't blame the free market for working in and taking advantage of those rules. Sure greed played a part, but to quote Gordon Geko, "greed is good".

Unfortunately we will probably see it happen again. A couple of months ago Wall street bought its first MBS in over a year. Credit is tough in the housing market because banks have created overlays to the basic Fannie Mae guidelines, but as the economy improves we will see private investment banks creating more and easier access to mortgages. Then when appreciation gets out of hand we will get another pull back. Some states will be hurt more than others as always, but I am sure we will see a version of what we have just been through. Hopefully there will be someone in D.C. that still remembers these times, but politicians have worse memories than the general public.
I dont think putting on of the biggest foxes in charge of the hen house was a good idea (Hank Paulson/Treasury), and I would prefer to see someone who can get his taxes right in charge of it currently (Geithner).

[Kev Berry]

And yet strangely the Wallstreet Reform did absolutely nothing to regulate mortgage lending practices or Freddy Or Fannies high tolerance if not promotion of bad loans.

Wall street reform is like Lindsay Lohan in rehab. The minute no-one is watching there back at it.
At least there have been overhauls of Fannie and Freddies guidelines. Though as usual politicians+HUD have created some dumb ones as well.

You must be looking forward to the cooler months like I am Joel.

[LisaWagner]

Please...everyone...don't you find it funny that they had to create the term "honest politician" - because the default is dishonest.

They all stink, they are all conflicted, and not a single one of them could run a small business successfully if their lives depended on it.

We are the ones that have our butts on the line here, and criticizing the ones who only watch their own butts, and make us fund their whims and pet projects, is a crime. But they are all at fault...though I have to say, Obama will run us into bankruptcy faster than I ever thought would be possible, with the help of the career congress who has been horrible for decades...and completely disconnected from reality (because they can just print more money and expense things..)

It is all embarrassing...and pathetic.

Lisa

[Mile High Ron]

Lisa you are right they ALL suck
viva the revaluation........

[SpongoBongo]

LMAO!

I'm soooo disappointed to see Obama come into "my" rug playground here... I do all I can to avoid him, because he's spending money faster than we can all make it.

Lisa

Thanks for a nice article. I have been in the oval office under a number of presidents. In pictures the rug dominates the room but when you walk in the desk is the focal point. I have also seen the Oval Office rugs cleaned, a good friend does their work. They are generally very cool and I think I like the blue one that I think Reagan had a little better. Of course rumor has it that my cleaner friend had more to clean in the Clinton years. I worked briefly at the White House under Reagan and Clinton and I consider Clinton the best President of my life Time. Eisenhower was the worst and Obama is close to being the worst.
I was very sad to see Lisa Wagner write.

“I do all I can to avoid him, because he's spending money faster than we can all make it.”

I am no Obama fan but my income is up substantially in the Obama years. My personal net income is running at about twice last year’s net and last year was better than any Bush year for me. Lisa if there is anything I can do to help let me know. A bad economy and insane government spending should not be an impediment to our success. In the long term money is not really made in the boom years it is made in the Bust years.
Best wishes,
Barry O’Connell