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Credit Scores Relaxed Under Obama Pressure
Investor´s Business Daily, by Editorial
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Original Article
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Posted By:Desert Fox, 3/13/2013 7:36:36 PM
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| Standards: Bullied by President Obama´s new consumer watchdog, the Big Three consumer credit bureaus have curved credit scores for deadbeats. The capitulation is a bad omen for the economy. The credit-scoring system underpins our economy. If lenders and insurers can´t rely on it, they can´t make sound judgments about the risks involved in millions of transactions each day. Yet the system is being socialized thanks to a campaign by the administration to falsely smear it as inaccurate and biased against minorities. The campaign began in 2011 when the Consumer Financial Protection Bureau investigated scoring models used by the consumer credit-reporting agencies.
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Reply 1 - Posted by:
Vivi, 3/13/2013 7:47:46 PM (No. 9223721)
Saw that coming.
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Reply 2 - Posted by:
plex, 3/13/2013 7:56:31 PM (No. 9223730)
I would like to know what threat the received. What can the WH do to them?
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Reply 3 - Posted by:
jl80863, 3/13/2013 8:00:32 PM (No. 9223736)
This is a deliberate attack on the US ecomomy. Anyone with half a brain saw what happened when the feds pushed a "relaxed" credit. More welfare, food stamps and deadbeats. Unfortunately the facts are minorities do not have great credit ratings because they are casual about repaying loans. More obama madnss.
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Reply 4 - Posted by:
Nevadadad46, 3/13/2013 8:15:03 PM (No. 9223756)
Oh, the Barney Franks scoring system that smashed the economy and the US treasury to pieces in 2008! That re-adjustment system. I see no one has learned a thing! Oh, God- we are in so much trouble now with these racist idiots and thieves in charge of our country.
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Reply 5 - Posted by:
LudicrousSextus, 3/13/2013 8:22:12 PM (No. 9223761)
Unreal. Not satisfied with having been the *cause* of the sub-prime housing meltdown - which pretty well triggered the economic mess that government over-spending has only made worse...
That same government now engineers the NEXT disaster for the American consumer.
Every ´deadbeat´ that screws up repaying a loan simply takes us down another notch and drives up costs for the consumer who actually values accuracy in credit reporting.
Another *racially* driven government policy - brought to you by the fine folks at Screw a Color Blind Society - Reparations R´ Us.
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Reply 6 - Posted by:
choey, 3/13/2013 8:25:14 PM (No. 9223765)
Oh good! Now I can pay two or three other peoples mortgages instead of just one. I can hardly wait...
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Reply 7 - Posted by:
Italiano, 3/13/2013 8:26:47 PM (No. 9223768)
Here we go again. None dare call them reparations.
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Reply 8 - Posted by:
Cat Ballou, 3/13/2013 8:31:35 PM (No. 9223774)
Any dealings with these "persons", should be with a recorder, doing it´s job, be it in person or on a phone. Of course save all e-mails & any 3rd person messages. The best way to get rid of cockroaches is in the light of day. These people need to be spotlighted in the bright light of truth & justice.
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Reply 9 - Posted by:
marthaville, 3/13/2013 8:37:08 PM (No. 9223780)
Don´t get to feeling too sorry for the lenders. Try getting a credit reporting agency to at least include your side of a story. There is much erroneous information in them. Plus the lenders collude with one another to find reasons to raise interest rates.
Maybe you expert money managers and investors have stellar credit. But there are others with various setbacks, mistakes and bad judgement. The lenders are too quick to ignore your perfect history with them in favor of a dispute you had with another lender, even one holding a first mortgage on your home.
They love to pull the tricks to raise your rate. Let´s say you have a credit line against which you have drawn 60% of the availability. Someone like XXCapital purchases the account and drops your line to what is owed. Suddenly your 60% becomes 100%. Then XXXXBank sees that and decides they need to raise your rate on their account even though you have never been late or over the limit.
These lenders, at times, are thieves. Do not ever feel sorry for them. They will never feel sorry for you. They can charge 18-33% with a cost of funds of 2-3%. Poor money changers.
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Reply 10 - Posted by:
Italiano, 3/13/2013 8:40:20 PM (No. 9223782)
We feel sorry for ourselves, the taxpayers who end up footing the bill and are hardest hit when a housing/mortgage meltdown crashes the financial markets and economy. Like last time.
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Reply 11 - Posted by:
chance_232, 3/13/2013 8:53:26 PM (No. 9223801)
Thanks to the obama economy, I have a crappy credit score. And I´ll fix it myself thank you.
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Reply 12 - Posted by:
Keekng, 3/13/2013 9:07:21 PM (No. 9223814)
Giving credit to deadbeats worked so well last time why not do it again......S/
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Reply 13 - Posted by:
saguni, 3/13/2013 9:09:43 PM (No. 9223820)
I can´t sayth at history will exactly repeat itself, but back in the 1980s and 1990s ACORn made a name for itself by "enforcing fair credit practices and protesting to stop ´red lining´ home loans" if by that you mean trucking a busload of paid protesters to the homes off bank loan officers, just in time to catch their children getting home from school. I know it happened to some of the officers at the bank where I was a teller.
Nothing like terrorizing children to "improve" the attitude of loan officers.
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Reply 14 - Posted by:
BigGeorgeTX, 3/13/2013 9:25:02 PM (No. 9223837)
Because it worked so well with home mortgages.
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Reply 15 - Posted by:
Blue-Z-Anna, 3/13/2013 9:29:07 PM (No. 9223843)
The meaning of words is now flexible....math is fungible......logic is for old dead white men.
The idealogs are in control.
The rush of complete and supreme power must be quite a euphoric experience because it crowds out everything good and descent and honest.
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Reply 16 - Posted by:
Dante, 3/13/2013 9:37:43 PM (No. 9223860)
The housing disaster taught these idiots nothing.
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Reply 17 - Posted by:
tyshab, 3/13/2013 10:01:11 PM (No. 9223884)
The housing disaster taught them they could get away with it and the money will flow more freely to cover their sorry arses!
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Reply 18 - Posted by:
privateer, 3/13/2013 10:13:25 PM (No. 9223903)
It´s La Raza Negra: for the Race, everything; outside the Race, nothing!
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Reply 19 - Posted by:
harper, 3/14/2013 2:53:23 AM (No. 9224050)
"What can the WH do to them?"
That´s a nice little business you got here, BOY. Be a shame if somethin´ happened to it, now wouldn´t it? Like maybe if the legislation covering you´se guys got SERIOUSLY D-F-ed in a way that´s not so good for you, if´n you know what I mean, BOY. We´re talking Dodd-Frankin´ like you have never seen. You saw what we did to the banks, and now they do things our way...they even suck it up real well when we blame it all on them. Not a peep out of them...
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Reply 20 - Posted by:
woodsman, 3/14/2013 7:16:58 AM (No. 9224135)
Great...combine this with the impending student loan tsunami and the last crash is going to look like a fender bender
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Reply 21 - Posted by:
ROLFnader, 3/14/2013 7:30:01 AM (No. 9224151)
These people better consider the consequences of this type of thinking. Just remember the fate of Chris Dodd after ruining our economy. He´s running Hollywood , now.
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Below, you will find ...
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Yonhap News Service (South Korea), by Staff
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Posted By: Desert Fox- 4/8/2013 7:11:29 AM
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SEOUL -- South Korea´s Unification Minister Ryoo Kihl-jae said Monday there are signs that North Korea may be preparing for another nuclear test. In a meeting with lawmakers, the policymaker said that Seoul is aware of indications that another test is being planned, but he failed to go into details. The remarks came after a lawmaker citing unspecified reports said that there has been an increase in the movements of vehicles and personnel near the Punggye-ri test complex in North Hamgyong Province.
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China Helped North Korea Target American Cities
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Forbes, by Gordon G. Chang
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Posted By: Desert Fox- 4/8/2013 7:00:51 AM
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Today, Kim Jang-soo, South Korea’s new national security director, said North Korea may fire off a missile as soon as Wednesday. The launch will undoubtedly be a test of an intermediate-range missile, not an attack. North Korea last week moved two missiles, which were subsequently loaded onto mobile launchers, to its east coast. Many expect the missiles, which have been subsequently moved to hidden locations, will be fired in trajectories arcing over Japan. The Pentagon is not at the moment especially concerned about Pyongyang’s longest-range missile, the Taepodong-2, a variant of the successfully tested Unha-3 rocket.
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Kim Jong-un Wants Phone Call from Obama - report
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Korea Broadcast Service, by Staff
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Posted By: Desert Fox- 4/8/2013 6:56:50 AM
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North Korea’s young leader Kim Jong-un is waiting for United States President Barack Obama to make a phone call to Pyongyang to discuss easing tensions on the Korean peninsula, according to Russia’s news agency Itar-Tass. The report cited United Kingdom diplomats, saying Pyongyang was demanding the U.S. president personally call Kim Jong-un as one of the conditions to relieve the current conflict at hand. Itar-Tass also quoted the U.K.’s Sky News as saying North Korea currently has eight nuclear warheads.
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North Korea readies missile launch as fears of a covert cyberwar grow
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Guardian (U.K.), by Justin McCurry
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Posted By: Desert Fox- 4/8/2013 6:50:06 AM
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South Korea is bracing for a protracted standoff with the North that could include at least one missile test-launch and a border skirmish. On Friday, North Korea attempted to heighten fears of military conflict when it told embassies in its capital, Pyongyang, that it could not guarantee the safety of their staff in the event of war. In another sign that it is determined to increase the pressure, Pyongyang extended a ban preventing South Korean officials from entering the Kaesong industrial complex – which it operates jointly with the South – for a fourth day.
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Roll Call: Obama Has ´Given Up´ OnThose Darn Republicans
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Breitbart´s Big Government, by Warner Todd Huston
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Posted By: Desert Fox- 4/8/2013 6:46:08 AM
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Roll Call reports that Obama has now "given up" on Republicans as partners for helping him get some "governing done" in Washington DC. Of course, the Capitol Hill newspaper fails to show when it was that Obama ever consider the GOP to be his governing partner in the first place. Roll Call writer Steven T. Dennis claims that, "Obama already seems resigned to the reality" that he won´t be able to successfully initiate his massive re-tooling of America to reflect his left-wing agenda because the GOP isn´t interested in "bipartisan action."
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Who really has the power in Pyongyang? Kim Jong-un´s AUNT ´was driving force behind his rise to leader´
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Daily Mail (U.K.), by James Rush
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Posted By: Desert Fox- 4/8/2013 6:41:05 AM
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The aunt of Kim Jong-un has been credited with being the driving force behind the rise of the Supreme Leader of North Korea. Kim Kyong-hui, who is often the only female face on official photographs of ranks of generals and party leaders, has been tasked with transforming her nephew into a figurehead with a reputation for strong military tactics who is able to handle an international crisis. Miss Kim, who has been a key figure in the family for four decades, and her husband Jang Sung-taek, were chosen by Kim Jong-il
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WikiLeaks to release more US documents
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Posted By: Desert Fox- 4/7/2013 10:12:13 PM
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WHISTLEBLOWING website WikiLeaks is to publish more than 1.7 million US diplomatic and intelligence documents from the 1970s, founder Julian Assange says. The website has collated a variety of records including cables, intelligence reports and congressional correspondence and is releasing them in a searchable form on Monday. Assange has carried out much of the work from his refuge in Ecuador´s embassy in London and told the Press Association that the records highlighted the "vast range and scope" of US influence around the world. The Australian has been holed up in the tiny
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Dempsey: Taliban likely to be long-term threat in Afghanistan
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Associated Press, by Robert Burns
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Posted By: Desert Fox- 4/7/2013 7:55:27 PM
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BAGRAM AIR FIELD, Afghanistan -- The United States accepts that a diminished but resilient Taliban is likely to remain a military threat in some parts of Afghanistan long after U.S. troops complete their combat mission next year, the top U.S. military officer said Sunday. In an Associated Press interview at this air field north of Kabul, Army Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, said he is cautiously optimistic that the Afghan army will hold its own against the insurgency as Western troops pull back and Afghans assume the lead combat role. He said that by
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White House pushes Obama budget, warns Republicans about ´my way or highway´ tactic
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Associated Press, by Staff
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Posted By: Desert Fox- 4/7/2013 7:51:58 PM
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The White House tried Sunday to win support for President Obama’s forthcoming budget, arguing the plan is a balanced approach to economic prosperity and warning Republicans about stonewalling negotiations and pushing a “rejected” Romney plan. “Right now, the approach of many Republicans, particularly the leadership in the House, is my way or the highway,” senior White House adviser Dan Pfeiffer told “Fox News Sunday.” “Their view is the only acceptable plan is to try to … essentially enact the Romney economic plan. The American people rejected that, and Republicans shouldn´t be doubling down on it.”
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Posted By: Desert Fox- 4/7/2013 7:50:17 PM
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A fundamental principle in medicine is that if you get the diagnosis wrong, you´ll probably apply the wrong therapy. A corollary is that if the therapy isn´t working, increasing the dose may make things worse. That´s where we are with ObamaCare. There are shortcomings aplenty in the health-care field, and changes and improvements are required. But never have I seen so many good intentions leading irreversibly to hell. Personal experience is by its nature parochial. Yet when it invalidates much of what passes for wisdom, there may be value in sharing it. Here are some facts that may illuminate
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Dangerous Times: When Paranoids Do Politics
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Posted By: Desert Fox- 4/6/2013 6:33:39 AM
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In 1927, Jozef Stalin summoned the Russian neurologist Bekhterev to give a medical examination of the dictator. Later that day, Bekhterev returned to a medical meeting and told colleagues, "I have just examined a paranoiac with a short, dry hand." Stalin´s left arm was shorter and weaker than the other. The following day, Bekhterev was poisoned and died. He was killed for calling Stalin a "paranoiac." He did not mention Stalin by name, but his medical colleagues knew exactly whom he was talking about. Writing in European Neurology, the historian Juerg
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American Thinker, by Ellen Meade
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Posted By: Desert Fox- 4/6/2013 6:24:35 AM
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Is the Constitution becoming the left´s new target? That thought struck me the other night over dinner with my liberal friend, a lawyer and part-time professor. Among his choice statements, "Maybe it´s time to get rid of the Constitution and start over." No doubt he was echoing the sentiments of Georgetown law professor, Louis Michael Seidman, who suggested just that in a New York Times op-ed. It´s been several weeks since Seidman made his remarks, and now, it appears, the floodgates are open. Liberals feel they can speak freely about their true intentions for our country.
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Sen. John McCain says he doesn´t understand the threats from some of his Republican colleagues to filibuster a bill on background checks to buy guns. "I don´t understand it," the Arizona Republican said on Sunday of the threat coming from Sen. Rand Paul,Sen. Ted Cruz, Sen. Mike Lee and nine other Republicans. "The purpose of the United States Senate is to debate and to vote and to let the people know where we stand.” "What are we afraid of? ... If this issue is as important as we all think it is, why not take ... it up and debate?"
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Posted By: pineledger- 4/7/2013 7:43:42 AM
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Michelle Obama has admitted that she is already tired of the bangs she first sported in January. The First Lady said in an interview with Entertainment Tonight: ´Bangs are a day-by-day proposition. They´re starting to grow out, get a little irritating.´ Still, she hasn´t let her hairdo woes get her down. ´It´s okay,´ she said after her initial complaint. ´We´ll be good.´ The first indication that her hairstyle was becoming a burden came about last weekend, when Malia, 14, was spotted adjusting her mother´s hair during the White House Easter Egg Roll.
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Posted By: STLstudent- 4/7/2013 5:13:55 PM
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Recent research indicates that the number of people who do not consider themselves a part of an organized religion is steadily on the rise. Interestingly enough, though the number of those religiously unaffiliated is increasing, there is little to no trend in the number of those who express atheist or agnostic beliefs. People aren’t saying they don’t believe in God. They’re saying they don’t believe in religion. They are not rejecting Christ. They are rejecting the church. This begs the question, “Why are we losing our religion?”
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Posted By: Ribicon- 4/7/2013 2:43:40 PM
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Los Angeles — Some people have had it with TV. They´ve had enough of the 100-plus channel universe. They don´t like timing their lives around network show schedules. They´re tired of $100-plus monthly bills. A growing number of them have stopped paying for cable and satellite TV service, and don´t even use an antenna to get free signals over the air. (Snip) Last month, the Nielsen Co. started labeling people in this group "Zero TV" households, because they fall outside the traditional definition of a TV home. There are 5 million of these residences in the U.S., up from
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Posted By: StormCnter- 4/7/2013 5:00:16 AM
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On Friday, Sean Hannity brought Pat Smith, mother of the late Sean Smith, on his radio program. The 34-year-old information management officer was one of four Americans murdered in the Benghazi embassy attack on September 11, 2012. In the chilling interview, a distraught Ms. Smith, in tears, pleaded for answers and spoke of the efforts to silence her. Ms. Smith first relayed how her son, prior to the attack, requested additional security in advance and warned the State Department: He did tell them, ahead of time, he typed it into his little typewriter over there,
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Washington Post, by Jim Tankersley
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Posted By: Dreadnought- 4/6/2013 11:28:59 PM
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Put out an all-points bulletin: Millions of Americans have gone missing from the workforce. Every month that those would-be workers are gone raises the odds that they might never come back, dimming the prospects for future economic growth. The vanishing trend is more than a decade old, but it accelerated during the Great Recession. Throughout 2012, economists held out hope that it had stopped. But then came Friday’s jobs report, and hopes were dashed. The Labor Department reported that the U.S. labor force — everyone who has a job or is looking for one — shrank
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Obama critic apologizes for his ´poorly chosen words´ on gay marriage
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The Hill [Washington DC], by Alexandra Jaffe
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Posted By: JoniTx- 4/6/2013 12:18:19 PM
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Neurosurgeon Ben Carson, considered by some to be a potential Republican contender for president, apologized to Johns Hopkins University for the "poorly chosen words" he used in expressing his opposition to gay marriage last month.“I am sorry for any embarrassment this has caused,” Carson said in the letter, reported in New York Magazine.(Snip) "Although I do believe marriage is between a man and a woman, there are much less offensive ways to make that point. I hope all will look at a lifetime of service over some poorly chosen words.” Carson will remain as commencement speaker at Johns Hopkins,
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Former British prime minister Baroness Thatcher dies peacefully at the age of 87 after suffering a massive stroke
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Daily Mail [UK], by James Nye
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Posted By: Attercliffe- 4/8/2013 8:55:39 AM
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Margaret Thatcher, the first female British Prime Minister who gained worldwide renown as the Iron Lady has died aged 87. Developing a formidable partnership with President Ronald Reagan during the 1980s, Mrs. Thatcher stood up to the ´Evil Empire´ of the Soviet Union, eventually witnessing its collapse. [Snip] Responding to her death, Buckingham Palace said, ´The Queen is sad to hear the news of the death of Baroness Thatcher and Her Majesty will be sending a private message of sympathy to the family, Buckingham Palace said today.´ British Prime Minster David Cameron said on hearing of her passing, ´It was
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The Secrets of Princeton
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New York Times, by Ross Douthat
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Posted By: Oblio- 4/7/2013 8:08:09 AM
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Susan Patton, the Princeton alumna who became famous for her letter urging Ivy League women to use their college years to find a mate, has been denounced as a traitor to feminism, to coeducation, to the university ideal. But really she’s something much more interesting: a traitor to her class. Her betrayal consists of being gauche enough to acknowledge publicly a truth that everyone who’s come up through Ivy League culture knows intuitively —
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Kim Jong-un Wants Phone Call from Obama - report
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Korea Broadcast Service, by Staff
Original Article
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Posted By: Desert Fox- 4/8/2013 6:56:50 AM
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North Korea’s young leader Kim Jong-un is waiting for United States President Barack Obama to make a phone call to Pyongyang to discuss easing tensions on the Korean peninsula, according to Russia’s news agency Itar-Tass. The report cited United Kingdom diplomats, saying Pyongyang was demanding the U.S. president personally call Kim Jong-un as one of the conditions to relieve the current conflict at hand. Itar-Tass also quoted the U.K.’s Sky News as saying North Korea currently has eight nuclear warheads.
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Is going gluten-free healthier for everybody?
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The Week, by Staff
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Posted By: NorthernDog- 4/7/2013 11:28:27 AM
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Gluten-free diets are all the rage, but they can be dangerous if not done right. What is gluten? It´s the spongy complex of proteins, found naturally in wheat, rye, and barley, that gives elasticity to dough and allows it to rise. When flour is moistened and either kneaded or mixed into dough, gluten molecules form an elastic, microscopic latticework that traps the carbon dioxide produced when yeast ferments, causing dough to inflate like a hot air balloon. Baking hardens the gluten, which helps the finished product keep its shape. Wheat — and gluten — is ubiquitous in the American diet.
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