Transmission lines.

One of my cooling lines for the transmission seems to have been cracked at some point and whoever fixed it simply put a rubber hose over the hard line and clamped it down. It is however leaking enough to where the line is covered in oil and there is also oil on the pan. Would this leak cause a loss in pressure possibally effecting my tranny performance?

No unless the fluid level is low.

But you need to find for sure where it is leaking and repair the leak.
Is it the rubber hose or lose clamps or leaking some place else besides the hose?

Its leaking from the hard lines that run to the cooler. like i said it looks like someone just cut out the section of the line where it was leaking and installed a rubber house in its place. Judging by oil in the driveway i didn't think it leaked that much but after having it up on the lift over night, it has leaked quite a bit of fluid.

It really doesn't have to much of an effect, like MT mentioned, but if its leaking, it could either burst right open, and loose all the oil, or keep leaking a little at a time until it gets low on oil. At this point, it will lead to transmission problems and eventual transmission failure. You can replace the rubber line with new rubber line and double clamp it on each side. Whatever way you choose to fix it, don't leave it to long.

Most aftermarket transmission oil coolers use these Rubber lines and they work fine. You can buy Transmission Hose at most Auto parts stores. It should say Transmission oil hose or something like that right on the hose. Do a double clamp and you'll be good to go.

Another tranny related issue, after pulling the starter i decided to check the Torque converter. 1 bolt was missing and the other 2 were loose... this would explain the nice knocking noise i had coming from the tranny. Whoever worked on this vehicle before should have never been allowed to touch one :shakehead