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Friday, May 14, 2010

Kay Hagan and I agree...

I agree with all of these items that Senator Hagan supports---

Payday lenders (Joe Guarino asked me so out of respect I did a little research.) Joe, I agree with much that she supports. Don't you?

http://hagan.senate.gov/?p=press_release&id=551

and firefighters--

http://hagan.senate.gov/?p=press_release&id=547

and schools---

http://hagan.senate.gov/?p=press_release&id=537

and our NC coast--

http://hagan.senate.gov/?p=press_release&id=524

more jobs---
http://hagan.senate.gov/?p=press_release&id=511

financial reform and education---
http://hagan.senate.gov/?p=press_release&id=509

support for export manufacturing--
http://hagan.senate.gov/?p=press_release&id=449

With me being somewhat conservative I was quite surprised with the numbers of items that I support along with Senator Hagan. How about you? ...and others of course.

Thanks,

(did a little editing cause I might have made an error and removed Joe's name from the title....when I read this post today I felt that the reader might have thought I was negative about Joe which is not the case.)

7 Comments:

Blogger jimcaserta said...

It's amazing what research can bring to light. When Joe wrote about CRL, I was surprised he didn't talk to Patrick Eakes or you (I knew Patrick was related to Martin, but I didn't know you were too.) There is a huge difference in the loans that CRL advocates for low-income borrowers, and the types of loans that Wall St. used & got burned by. Mainly it's a focus on the affordability of the loan. CRL doesn't want to put people in loans they will have a high likelihood of defaulting on, while Wall St. didn't care because rising home prices would bail out the bad loan.

May 17, 2010 at 8:07 AM  
Blogger meblogin said...

Jim,
I agree with you.

I do not know why Joe chose to include CRL in two posts. I had hoped that the information I provided in his first post would at least raise his curiosity to dig deeper.

I have no idea why Joe did not make contact with Patrick or myself. I guess he was not interested or did not have the time.

May 17, 2010 at 9:27 AM  
Blogger jimcaserta said...

From the number of posts and comments, he had the time, but is not interested.

I was going to try to dig up a post where Martin directly goes after Countrywide's subprime lending tactics to show that a positive connection between CRL and the worst subprime lenders was laughable.

A 'bad' subprime loan would look a lot different than a Self-Help subprime. They had high debt-to-income ratios, pre-payment penalties, teaser initial interest rates. I doubt any of those practices were happening at Self-Help.

http://www.responsiblelending.org/mortgage-lending/policy-legislation/congress/Testimony-Calhoun092006.pdf

You are correct that you aren't going to sway opinions of those commenting at Joe's blog, and probably not at Ed's either.

May 18, 2010 at 7:07 AM  
Blogger jimcaserta said...

Throw in no/low documentation as another difference between a self-help & 'bad' subprime loan.

May 18, 2010 at 7:20 AM  
Blogger meblogin said...

We agree. I guess the need to be right, ego, so right leaning that fiction is ok or something along those lines is accurate for Joe and some of the other bloggers. It really did surprise me that he posted the second time bringing CRL into the post. I would have guessed that he had a higher regard for truth. I guessed wrong.

I also agree that Joe's blog is not alone when it comes to swaying opinions.

May 18, 2010 at 9:23 AM  
Blogger jimcaserta said...

Check out this old exchange b/w Joe & me.
http://guarino.typepad.com/guarino/2007/02/index_of_econom.html

I don't think he conceded that the Heritage Foundation was intentionally clouding the issue when the data didn't support their idea. The data was interesting, but he held to his ideological stance. I'll give you access to my old blog if you want to check out my post on it.

May 18, 2010 at 9:58 AM  
Blogger meblogin said...

Jim,

Yes, I would like to read your old blog. My best email address is
meakes@triad.rr.com.

Another observation--- Joe was very cordial and interactive back in 2007....not so much in recent past.

May 18, 2010 at 10:23 PM  

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