Can you write down for me at least 10 words? I don't understand whats going on over there, Dont know these people.
Same here.
Please anyone correct me if I'm wrong on anything here. The woman is Nancy Pelosi, the Democratic Speaker of the House for the US Congress. The US government is made up of the House and the Senate. Each state has two senators for the Senate and a whole bunch of Congress members based on population. The House, the Senate and the Presidency are both controlled now by the Democrats. The Democrats are mostly pro Arab because the Arabs are growing in population in the USA and the Democrats are usually for anything that undermines traditional America. The Republicans tend to be more pro Israel although there are exceptions like Pat Buchanan and others. Republicans tend to look at America of the past as good while the Democrats only like the USA since the 1960's. The just passed a $700+ billion bill to spend their way out of the recession with very little help from Republican votes. They already have spent billions on bailing out banks, the auto industry and even insurance companies.
The whole mess started from people in sub prime loans. Mostly people with poor credit; Hispanics, inner city blacks, American Indians on reservations and poor whites who previously had to put 20% down on a house to buy it. In the 19th century you actually had to buy the entire house up front. Anyways, the banks started giving everyone loans in the 1990's. Bush and Clinton did little to stop it and the Democrats encouraged it so their voters could get more loans. The finance companies were sued because they wouldn't give loans to blacks in the ghettos or Hispanics in the barrios. They had to give these loans out and then found it was actually very profitable, provided they sold those loans off to someone else before the payments stopped. The regulation was brought down by the Graham-Leach-Biley act in 1999(I'm doing this from memory so correct me if this is wrong). this law allowed all typed of institutions to buy and trade in these loans that couldn't before from the Glass Stegull laws of 1933 to protect certain banking institutions from failing markets. Democrats and Republicans voted on this bill and Bill Clinton signed it. Banks started encouraging people to get predatory loans and this really compiled the problem. They encouraged people to get loans for 2% per month for five years. The problem is that the loans were "balloon loans" that jumped to 9% or 15% after three or five years. People started not making payments and leaving their homes. With all the extra homes on the market, the prices of homes plummetted. Then all the loans that were given out were not being paid and sinking the financial sector. The banks took huge loses and stopped approving loans. The housing market dropped and caused a chain reaction to all the businesses that made money from building all the homes or selling them. Now, businesses are having trouble getting loans too. Then, states and the federal government started losing money because with no home payments, there are no tax payments on the houses.
Basically, government got way bigger over the last 15 years and couldn't pay for all the programs and infrastructure it had built up when all these private businesses disappeared. Now, they want to give money to some taxpayers and to banks and other companies. Problem is that there was a lot more extra stuff in the bill (school snack programs, global warming polar bear sanctuaries, money for all the states that supported Obama). The spending is getting really bad and we all know what comes next. Huge tax raises which are already happening. States like Oregon that have huge anti drug programs, now can't pay for them. Instead of trimming down expenses, they are now taxing each glass of beer an extra $2-3.00 for example. Also, these Democrats include many corrupt people. The black guy on the right has been investigated for tax evasion in the Dominican Republic. He is from NYC and get 90% of the vote every 2 years from black voters even though he is corrupt.
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