Bush worst president in 100 years.

[Vigilante]

After what he did to this country and middle east, he's the worst ever.

 

[Dad2three]

You have a GOVERNMENT document that states the banks were to be more "performance" driven, especially to LMI (which if your slow, I will translate for you, means Lower Middle Income communities. This backs the statement that CRA was rewritten under President Clinton to allow lower income families to get a home WITHOUT the standard paperwork that banks used.

To say a few of your articles carries more weight than a government document on CRA itself, is really quite laughable. What other wasted material do you want to use to counter that piece of government information? It's bad enough that public record of Congressional testimony is not enough, but you want to continue to feed me this left wing crap. How deluted are you to not even believe documents that specifically talk on the CRA itself. The fact President Clinton changed the CRA to allow more minorities and lower income families to own a home, looking to bank performance with regard to LMI is government stated fact, not coming from some news article. Get a clue.

If it doesn't fit with their narrative...they'll pull reams of horseshit out of their ears to obfuscate the premise and the conclusions.

These lengthy posts by DudAssBe are all to much an example of a monkey throwing crap when it gets all wound up.

Anytime someone throws up 4 replies for one post, you know they are desperately trying to throw up anything they can find in order to find ANY points they can try to make "stick".

He tried to blame Bush for the bad home mortgages [FAILED] - as I clearly pointed out the CRA was changed under the executive pen of Preident Clinton.

He tried to blame banks themselves for purposely accepting bad loans to benefit themselves. [FAILED] - Banks since then could no longer determine the risk factor of those borrowers in need of a home mortgage loan, as it could be deemed "discriminatory" towards lower middle income families.

He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).

Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth.

So in essence, Dad2three in blaming Bush, doesn't know what he is talking about, and chooses to be completely ignorant of the issue.

TALK ABOUT FAILURE BUBBA

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


"CRA was changed under the executive pen of Preident Clinton."

ZERO to do with Dubya's regulator failure

January 2013
Debunking the CRA Myth – Again

Since its enactment in 1977, the Community Reinvestment Act (CRA) has been the subject of extensive debate, which has intensified in the wake of the subprime crisis. One of the pernicious myths surrounding CRA is that it encouraged banks to make risky loans to low‐ and moderate‐income borrowers.

This argument has been made primarily by conservative think tanks, like American Enterprise Institute, who find it convenient to include CRA in their general position against governmental intervention in the private market.

But efforts to blame CRA for the most recent crisis reflect a deep misunderstanding of the scope and scale of CRA and its implementation. Indeed, the “blame the CRA” story has been refuted by industry leaders and researchers time and time again. Unfortunately, this narrative refuses to go away.


UNC Center for Community Capital


Given CEOs' proclivity for government bashing, any lenders being driven to write bad loans by the CRA would have been on CNBC screaming at the top of their lungs.

But that dog that didn't bark



He tried to blame banks themselves for purposely accepting bad loans to benefit themselves.


At an FCIC hearing in January 2010, JPMorgan Chase CEO Jamie Dimon told the Commission, “I blame the management teams 100% . . . and no one else.”



Bank of America CEO Brian Moynihan told the FCIC: “Over the course of the crisis, we, as an industry, caused a lot of damage. Never has it been clearer how poor business judgments we have made have affected Main Street.”


Fun With Predatory Lending


“There was always a big financial incentive to make a subprime loan wherever one could.”

-affadavit of Wells Fargo Loan officer

Fun With Predatory Lending | The Big Picture



It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.


The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis - Forbes



"He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).


WEIRD, YOU MEAN A TRIAL PROGRAM, IN A LIMITED AREA?

No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom:


2. The government’s affordability mission didn’t cause the crisis:


3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.


4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now


AEI'S Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”

LOL

Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture


Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, JUST LIKE THE GOP/BUSH DID IN 2003-2004 ACCOUNTING SCANDALS, AND?

Testimony from Treasury Secretary John Snow to the REPUBLICAN CONGRESS 2003 concerning the 'regulation’ of the GSE’s

Mr. Frank: ...Are we in a crisis now with these entities?

Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
- THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES

Yep, he said "far from it" If you read the testimony, you'd see he reiterated that position. And then you'd see one of the reasons Snow said why they would like the regulation would be to better enforce the housing goals



We have also relaxed some of our underwriting criteria to obtain goals-qualifying mortgage loans and increased our investments in higher-risk mortgage loan products that are more likely to serve the borrowers targeted by HUD’s goals and subgoals,
http://www.fanniemae.com/resources/file/ir/pdf/stock-info/series_T_05152008.pdf

HOLY COW! Bush forced them to lower their standards. If only somebody had warned us that Bush's policies would hurt Freddie and Fannie. Wait, somebody did.




Fannie, Freddie to Suffer Under New Rule, Frank Says

Fannie Mae and Freddie Mac would suffer financially under a Bush administration requirement that they channel more mortgage financing to people with low incomes, said the senior Democrat on a congressional panel that sets regulations for the companies.


So if your narrative is "GSEs are to blame" then you have to blame bush


http://democrats.financialservices....s/112/06-17-04-new-Fannie-goals-Bloomberg.pdf

"and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth."

GOT A LINK TO THIS BLOCKING?

Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie


One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush Could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

 

[Dad2three]

You have a GOVERNMENT document that states the banks were to be more "performance" driven, especially to LMI (which if your slow, I will translate for you, means Lower Middle Income communities. This backs the statement that CRA was rewritten under President Clinton to allow lower income families to get a home WITHOUT the standard paperwork that banks used.

To say a few of your articles carries more weight than a government document on CRA itself, is really quite laughable. What other wasted material do you want to use to counter that piece of government information? It's bad enough that public record of Congressional testimony is not enough, but you want to continue to feed me this left wing crap. How deluted are you to not even believe documents that specifically talk on the CRA itself. The fact President Clinton changed the CRA to allow more minorities and lower income families to own a home, looking to bank performance with regard to LMI is government stated fact, not coming from some news article. Get a clue.

If it doesn't fit with their narrative...they'll pull reams of horseshit out of their ears to obfuscate the premise and the conclusions.

These lengthy posts by DudAssBe are all to much an example of a monkey throwing crap when it gets all wound up.

Anytime someone throws up 4 replies for one post, you know they are desperately trying to throw up anything they can find in order to find ANY points they can try to make "stick".

He tried to blame Bush for the bad home mortgages [FAILED] - as I clearly pointed out the CRA was changed under the executive pen of Preident Clinton.

He tried to blame banks themselves for purposely accepting bad loans to benefit themselves. [FAILED] - Banks since then could no longer determine the risk factor of those borrowers in need of a home mortgage loan, as it could be deemed "discriminatory" towards lower middle income families.

He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).

Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth.

So in essence, Dad2three in blaming Bush, doesn't know what he is talking about, and chooses to be completely ignorant of the issue.

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[Vigilante]

If it doesn't fit with their narrative...they'll pull reams of horseshit out of their ears to obfuscate the premise and the conclusions.

These lengthy posts by DudAssBe are all to much an example of a monkey throwing crap when it gets all wound up.

Anytime someone throws up 4 replies for one post, you know they are desperately trying to throw up anything they can find in order to find ANY points they can try to make "stick".

He tried to blame Bush for the bad home mortgages [FAILED] - as I clearly pointed out the CRA was changed under the executive pen of Preident Clinton.

He tried to blame banks themselves for purposely accepting bad loans to benefit themselves. [FAILED] - Banks since then could no longer determine the risk factor of those borrowers in need of a home mortgage loan, as it could be deemed "discriminatory" towards lower middle income families.

He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).

Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth.

So in essence, Dad2three in blaming Bush, doesn't know what he is talking about, and chooses to be completely ignorant of the issue.

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

How many times now have you pasted that exact same bullshit...half a dozen or more?....You know the definition of INSANITY?..... Learn...

 

[birddog]

After what he did to this country and middle east, he's the worst ever.

That and other things such as Stimulus, Cash for Clunkers, IRS, VA, Benghazi and many other examples of deceit and incompetence certainly makes B. Hussein Obama the worst President in our history!

 

[Listening]

After what he did to this country and middle east, he's the worst ever.

I agree....

Obama is the worst ever.

 

[Listening]

How many times now have you pasted that exact same bullshit...half a dozen or more?....You know the definition of INSANITY?..... Learn...

My guess is that it is all in a sticky key and he just plops it everytime he sees someone calling him on it.

 

[Listening]

If it doesn't fit with their narrative...they'll pull reams of horseshit out of their ears to obfuscate the premise and the conclusions.

These lengthy posts by DudAssBe are all to much an example of a monkey throwing crap when it gets all wound up.

Anytime someone throws up 4 replies for one post, you know they are desperately trying to throw up anything they can find in order to find ANY points they can try to make "stick".

He tried to blame Bush for the bad home mortgages [FAILED] - as I clearly pointed out the CRA was changed under the executive pen of Preident Clinton.

He tried to blame banks themselves for purposely accepting bad loans to benefit themselves. [FAILED] - Banks since then could no longer determine the risk factor of those borrowers in need of a home mortgage loan, as it could be deemed "discriminatory" towards lower middle income families.

He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).

Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth.

So in essence, Dad2three in blaming Bush, doesn't know what he is talking about, and chooses to be completely ignorant of the issue.

TALK ABOUT FAILURE BUBBA

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


"CRA was changed under the executive pen of Preident Clinton."

ZERO to do with Dubya's regulator failure

January 2013
Debunking the CRA Myth – Again

Since its enactment in 1977, the Community Reinvestment Act (CRA) has been the subject of extensive debate, which has intensified in the wake of the subprime crisis. One of the pernicious myths surrounding CRA is that it encouraged banks to make risky loans to low‐ and moderate‐income borrowers.

This argument has been made primarily by conservative think tanks, like American Enterprise Institute, who find it convenient to include CRA in their general position against governmental intervention in the private market.

But efforts to blame CRA for the most recent crisis reflect a deep misunderstanding of the scope and scale of CRA and its implementation. Indeed, the “blame the CRA” story has been refuted by industry leaders and researchers time and time again. Unfortunately, this narrative refuses to go away.


UNC Center for Community Capital


Given CEOs' proclivity for government bashing, any lenders being driven to write bad loans by the CRA would have been on CNBC screaming at the top of their lungs.

But that dog that didn't bark



He tried to blame banks themselves for purposely accepting bad loans to benefit themselves.


At an FCIC hearing in January 2010, JPMorgan Chase CEO Jamie Dimon told the Commission, “I blame the management teams 100% . . . and no one else.”



Bank of America CEO Brian Moynihan told the FCIC: “Over the course of the crisis, we, as an industry, caused a lot of damage. Never has it been clearer how poor business judgments we have made have affected Main Street.”


Fun With Predatory Lending


“There was always a big financial incentive to make a subprime loan wherever one could.”

-affadavit of Wells Fargo Loan officer

Fun With Predatory Lending | The Big Picture



It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.


The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis - Forbes



"He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).


WEIRD, YOU MEAN A TRIAL PROGRAM, IN A LIMITED AREA?

No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom:


2. The government’s affordability mission didn’t cause the crisis:


3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.


4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now


AEI'S Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”

LOL

Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture


Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, JUST LIKE THE GOP/BUSH DID IN 2003-2004 ACCOUNTING SCANDALS, AND?

Testimony from Treasury Secretary John Snow to the REPUBLICAN CONGRESS 2003 concerning the 'regulation’ of the GSE’s

Mr. Frank: ...Are we in a crisis now with these entities?

Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
- THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES

Yep, he said "far from it" If you read the testimony, you'd see he reiterated that position. And then you'd see one of the reasons Snow said why they would like the regulation would be to better enforce the housing goals



We have also relaxed some of our underwriting criteria to obtain goals-qualifying mortgage loans and increased our investments in higher-risk mortgage loan products that are more likely to serve the borrowers targeted by HUD’s goals and subgoals,
http://www.fanniemae.com/resources/file/ir/pdf/stock-info/series_T_05152008.pdf

HOLY COW! Bush forced them to lower their standards. If only somebody had warned us that Bush's policies would hurt Freddie and Fannie. Wait, somebody did.




Fannie, Freddie to Suffer Under New Rule, Frank Says

Fannie Mae and Freddie Mac would suffer financially under a Bush administration requirement that they channel more mortgage financing to people with low incomes, said the senior Democrat on a congressional panel that sets regulations for the companies.


So if your narrative is "GSEs are to blame" then you have to blame bush


http://democrats.financialservices....s/112/06-17-04-new-Fannie-goals-Bloomberg.pdf

"and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth."

GOT A LINK TO THIS BLOCKING?

Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie


One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush Could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

I love it !

The bankers admit what schmuks they were. Now why do you suppose that is the case ?

I know folks in the industry who say there was a script passed around with a promise from Obama not to go after them if they would take the heat and suck it up.

They could not be trusted before.....but now we can trust them. And yes, they have every reason to "play ball".

 

[Dad2three]

Anytime someone throws up 4 replies for one post, you know they are desperately trying to throw up anything they can find in order to find ANY points they can try to make "stick".

He tried to blame Bush for the bad home mortgages [FAILED] - as I clearly pointed out the CRA was changed under the executive pen of Preident Clinton.

He tried to blame banks themselves for purposely accepting bad loans to benefit themselves. [FAILED] - Banks since then could no longer determine the risk factor of those borrowers in need of a home mortgage loan, as it could be deemed "discriminatory" towards lower middle income families.

He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).

Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth.

So in essence, Dad2three in blaming Bush, doesn't know what he is talking about, and chooses to be completely ignorant of the issue.

TALK ABOUT FAILURE BUBBA

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


"CRA was changed under the executive pen of Preident Clinton."

ZERO to do with Dubya's regulator failure

January 2013
Debunking the CRA Myth – Again

Since its enactment in 1977, the Community Reinvestment Act (CRA) has been the subject of extensive debate, which has intensified in the wake of the subprime crisis. One of the pernicious myths surrounding CRA is that it encouraged banks to make risky loans to low‐ and moderate‐income borrowers.

This argument has been made primarily by conservative think tanks, like American Enterprise Institute, who find it convenient to include CRA in their general position against governmental intervention in the private market.

But efforts to blame CRA for the most recent crisis reflect a deep misunderstanding of the scope and scale of CRA and its implementation. Indeed, the “blame the CRA” story has been refuted by industry leaders and researchers time and time again. Unfortunately, this narrative refuses to go away.


UNC Center for Community Capital


Given CEOs' proclivity for government bashing, any lenders being driven to write bad loans by the CRA would have been on CNBC screaming at the top of their lungs.

But that dog that didn't bark



He tried to blame banks themselves for purposely accepting bad loans to benefit themselves.


At an FCIC hearing in January 2010, JPMorgan Chase CEO Jamie Dimon told the Commission, “I blame the management teams 100% . . . and no one else.”



Bank of America CEO Brian Moynihan told the FCIC: “Over the course of the crisis, we, as an industry, caused a lot of damage. Never has it been clearer how poor business judgments we have made have affected Main Street.”


Fun With Predatory Lending


“There was always a big financial incentive to make a subprime loan wherever one could.”

-affadavit of Wells Fargo Loan officer

Fun With Predatory Lending | The Big Picture



It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.


The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis - Forbes



"He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).


WEIRD, YOU MEAN A TRIAL PROGRAM, IN A LIMITED AREA?

No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom:


2. The government’s affordability mission didn’t cause the crisis:


3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.


4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now


AEI'S Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”

LOL

Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture


Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, JUST LIKE THE GOP/BUSH DID IN 2003-2004 ACCOUNTING SCANDALS, AND?

Testimony from Treasury Secretary John Snow to the REPUBLICAN CONGRESS 2003 concerning the 'regulation’ of the GSE’s

Mr. Frank: ...Are we in a crisis now with these entities?

Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
- THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES

Yep, he said "far from it" If you read the testimony, you'd see he reiterated that position. And then you'd see one of the reasons Snow said why they would like the regulation would be to better enforce the housing goals



We have also relaxed some of our underwriting criteria to obtain goals-qualifying mortgage loans and increased our investments in higher-risk mortgage loan products that are more likely to serve the borrowers targeted by HUD’s goals and subgoals,
http://www.fanniemae.com/resources/file/ir/pdf/stock-info/series_T_05152008.pdf

HOLY COW! Bush forced them to lower their standards. If only somebody had warned us that Bush's policies would hurt Freddie and Fannie. Wait, somebody did.




Fannie, Freddie to Suffer Under New Rule, Frank Says

Fannie Mae and Freddie Mac would suffer financially under a Bush administration requirement that they channel more mortgage financing to people with low incomes, said the senior Democrat on a congressional panel that sets regulations for the companies.


So if your narrative is "GSEs are to blame" then you have to blame bush


http://democrats.financialservices....s/112/06-17-04-new-Fannie-goals-Bloomberg.pdf

"and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth."

GOT A LINK TO THIS BLOCKING?

Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie


One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush Could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

I love it !

The bankers admit what schmuks they were. Now why do you suppose that is the case ?

I know folks in the industry who say there was a script passed around with a promise from Obama not to go after them if they would take the heat and suck it up.

They could not be trusted before.....but now we can trust them. And yes, they have every reason to "play ball".

I know folks in the industry who say there was a script passed around with a promise from Obama not to go after them if they would take the heat and suck it up.


LOL




Why Prosecutors Don't Go After Wall Street

BUSH GAVE A GET OUT OF JAIL FREE CARD SUMMER 2008

Why Prosecutors Don't Go After Wall Street : NPR

“When regulators don’t believe in regulation and don’t get what is going on at the companies they oversee, there can be no major white-collar crime prosecutions,”...“If they don’t understand what we call collective embezzlement, where people are literally looting their own firms, then it’s impossible to bring cases.”

http://www.nytimes.com/2011/04/14/business/14prosecute.html?pagewanted=all

The FBI correctly identified the epidemic of mortgage control fraud at such an early point that the financial crisis could have been averted had the Bush administration acted with even minimal competence.
'
William K. Black: The Two Documents Everyone Should Read to Better Understand the Crisis

Dubya was warned by the FBI of an "epidemic" of mortgage fraud in 2004. He gave them less resources.

FBI saw threat of loan crisis - Los Angeles Times

Shockingly, the FBI clearly makes the case for the need to combat mortgage fraud in 2005, the height of the housing crisis:

Financial Crimes Report to the Public 2005

FBI ? Financial Crimes Report 2005

The Bush Rubber Stamp Congress ignored the obvious and extremely detailed and well reported crime spree by the FBI.

THE BUSH ADMINISTRATION and CONGRESS stripped the White Collar Crime divisions of money and manpower.

http://www.nytimes.com/2008/10/19/washington/19fbi.html?pagewanted=all

DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!

 

[Pete7469]

Only right-wing loons would see it otherwise. Us neutrals and the left have said this all along.

Bush worst president in 100 years.

Yeah another "Bush is the worst" thread is what we need. Yet every time we criticize Obama we're told Bush did the same thing. So maybe Obama is worse than Bush?
In fact Bush was a good president. Low unemployment, low inflation, won two wars, put al Qaeda on the run--you know, all the stuff Obama takes credit for.

You forgot about the housing bubble burst, getting the US into two wars of choice, doubling your deficit. That aside, "won two wars"?? Really? You call Afghanistan and Iraq, 'won'?

They were won till your moonbat messiah fucked everything up.

I have some inside knowledge most bed wetters don't have.

I've been to both places.

 

[Pete7469]

After what he did to this country and middle east, he's the worst ever.

I agree....

Obama is the worst ever.

There was FDR...

 

[Dad2three]

Yeah another "Bush is the worst" thread is what we need. Yet every time we criticize Obama we're told Bush did the same thing. So maybe Obama is worse than Bush?
In fact Bush was a good president. Low unemployment, low inflation, won two wars, put al Qaeda on the run--you know, all the stuff Obama takes credit for.

You forgot about the housing bubble burst, getting the US into two wars of choice, doubling your deficit. That aside, "won two wars"?? Really? You call Afghanistan and Iraq, 'won'?

They were won till your moonbat messiah fucked everything up.

I have some inside knowledge most bed wetters don't have.

I've been to both places.

lol, Yeah, that's 'inside' knowledge

 

[Wildman]

If it doesn't fit with their narrative...they'll pull reams of horseshit out of their ears to obfuscate the premise and the conclusions.

These lengthy posts by DudAssBe are all to much an example of a monkey throwing crap when it gets all wound up.

Anytime someone throws up 4 replies for one post, you know they are desperately trying to throw up anything they can find in order to find ANY points they can try to make "stick".

He tried to blame Bush for the bad home mortgages [FAILED] - as I clearly pointed out the CRA was changed under the executive pen of Preident Clinton.

He tried to blame banks themselves for purposely accepting bad loans to benefit themselves. [FAILED] - Banks since then could no longer determine the risk factor of those borrowers in need of a home mortgage loan, as it could be deemed "discriminatory" towards lower middle income families.

He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).

Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth.

So in essence, Dad2three in blaming Bush, doesn't know what he is talking about, and chooses to be completely ignorant of the issue.

TALK ABOUT FAILURE BUBBA

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


"CRA was changed under the executive pen of Preident Clinton."

ZERO to do with Dubya's regulator failure

January 2013
Debunking the CRA Myth – Again

Since its enactment in 1977, the Community Reinvestment Act (CRA) has been the subject of extensive debate, which has intensified in the wake of the subprime crisis. One of the pernicious myths surrounding CRA is that it encouraged banks to make risky loans to low‐ and moderate‐income borrowers.

This argument has been made primarily by conservative think tanks, like American Enterprise Institute, who find it convenient to include CRA in their general position against governmental intervention in the private market.

But efforts to blame CRA for the most recent crisis reflect a deep misunderstanding of the scope and scale of CRA and its implementation. Indeed, the “blame the CRA” story has been refuted by industry leaders and researchers time and time again. Unfortunately, this narrative refuses to go away.


UNC Center for Community Capital


Given CEOs' proclivity for government bashing, any lenders being driven to write bad loans by the CRA would have been on CNBC screaming at the top of their lungs.

But that dog that didn't bark



He tried to blame banks themselves for purposely accepting bad loans to benefit themselves.


At an FCIC hearing in January 2010, JPMorgan Chase CEO Jamie Dimon told the Commission, “I blame the management teams 100% . . . and no one else.”



Bank of America CEO Brian Moynihan told the FCIC: “Over the course of the crisis, we, as an industry, caused a lot of damage. Never has it been clearer how poor business judgments we have made have affected Main Street.”


Fun With Predatory Lending


“There was always a big financial incentive to make a subprime loan wherever one could.”

-affadavit of Wells Fargo Loan officer

Fun With Predatory Lending | The Big Picture



It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.


The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis - Forbes



"He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).


WEIRD, YOU MEAN A TRIAL PROGRAM, IN A LIMITED AREA?

No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom:


2. The government’s affordability mission didn’t cause the crisis:


3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.


4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now


AEI'S Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”

LOL

Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture


Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, JUST LIKE THE GOP/BUSH DID IN 2003-2004 ACCOUNTING SCANDALS, AND?

Testimony from Treasury Secretary John Snow to the REPUBLICAN CONGRESS 2003 concerning the 'regulation’ of the GSE’s

Mr. Frank: ...Are we in a crisis now with these entities?

Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
- THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES

Yep, he said "far from it" If you read the testimony, you'd see he reiterated that position. And then you'd see one of the reasons Snow said why they would like the regulation would be to better enforce the housing goals



We have also relaxed some of our underwriting criteria to obtain goals-qualifying mortgage loans and increased our investments in higher-risk mortgage loan products that are more likely to serve the borrowers targeted by HUD’s goals and subgoals,
http://www.fanniemae.com/resources/file/ir/pdf/stock-info/series_T_05152008.pdf

HOLY COW! Bush forced them to lower their standards. If only somebody had warned us that Bush's policies would hurt Freddie and Fannie. Wait, somebody did.




Fannie, Freddie to Suffer Under New Rule, Frank Says

Fannie Mae and Freddie Mac would suffer financially under a Bush administration requirement that they channel more mortgage financing to people with low incomes, said the senior Democrat on a congressional panel that sets regulations for the companies.


So if your narrative is "GSEs are to blame" then you have to blame bush


http://democrats.financialservices....s/112/06-17-04-new-Fannie-goals-Bloomberg.pdf

"and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth."

GOT A LINK TO THIS BLOCKING?

Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie


One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush Could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

/

you hate filled liberscum never let up do you ? your fucking MESSiah has done nothing but fuck this country all the way to HELLS gate.



AND ..............................

 

[Jughead]

Bush worst president in 100 years.

 

[Unkotare]

After what he did to this country and middle east, he's the worst ever.

I agree....

Obama is the worst ever.

There was FDR...

Definitely the worst ever, despite obama's efforts at catching up.

 

[Vigilante]

 

[Pete7469]

Anytime someone throws up 4 replies for one post, you know they are desperately trying to throw up anything they can find in order to find ANY points they can try to make "stick".

He tried to blame Bush for the bad home mortgages [FAILED] - as I clearly pointed out the CRA was changed under the executive pen of Preident Clinton.

He tried to blame banks themselves for purposely accepting bad loans to benefit themselves. [FAILED] - Banks since then could no longer determine the risk factor of those borrowers in need of a home mortgage loan, as it could be deemed "discriminatory" towards lower middle income families.

He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).

Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth.

So in essence, Dad2three in blaming Bush, doesn't know what he is talking about, and chooses to be completely ignorant of the issue.

TALK ABOUT FAILURE BUBBA

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


"CRA was changed under the executive pen of Preident Clinton."

ZERO to do with Dubya's regulator failure

January 2013
Debunking the CRA Myth – Again

Since its enactment in 1977, the Community Reinvestment Act (CRA) has been the subject of extensive debate, which has intensified in the wake of the subprime crisis. One of the pernicious myths surrounding CRA is that it encouraged banks to make risky loans to low‐ and moderate‐income borrowers.

This argument has been made primarily by conservative think tanks, like American Enterprise Institute, who find it convenient to include CRA in their general position against governmental intervention in the private market.

But efforts to blame CRA for the most recent crisis reflect a deep misunderstanding of the scope and scale of CRA and its implementation. Indeed, the “blame the CRA” story has been refuted by industry leaders and researchers time and time again. Unfortunately, this narrative refuses to go away.


UNC Center for Community Capital


Given CEOs' proclivity for government bashing, any lenders being driven to write bad loans by the CRA would have been on CNBC screaming at the top of their lungs.

But that dog that didn't bark



He tried to blame banks themselves for purposely accepting bad loans to benefit themselves.


At an FCIC hearing in January 2010, JPMorgan Chase CEO Jamie Dimon told the Commission, “I blame the management teams 100% . . . and no one else.”



Bank of America CEO Brian Moynihan told the FCIC: “Over the course of the crisis, we, as an industry, caused a lot of damage. Never has it been clearer how poor business judgments we have made have affected Main Street.”


Fun With Predatory Lending


“There was always a big financial incentive to make a subprime loan wherever one could.”

-affadavit of Wells Fargo Loan officer

Fun With Predatory Lending | The Big Picture



It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.


The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis - Forbes



"He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).


WEIRD, YOU MEAN A TRIAL PROGRAM, IN A LIMITED AREA?

No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom:


2. The government’s affordability mission didn’t cause the crisis:


3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.


4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now


AEI'S Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”

LOL

Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture


Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, JUST LIKE THE GOP/BUSH DID IN 2003-2004 ACCOUNTING SCANDALS, AND?

Testimony from Treasury Secretary John Snow to the REPUBLICAN CONGRESS 2003 concerning the 'regulation’ of the GSE’s

Mr. Frank: ...Are we in a crisis now with these entities?

Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
- THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES

Yep, he said "far from it" If you read the testimony, you'd see he reiterated that position. And then you'd see one of the reasons Snow said why they would like the regulation would be to better enforce the housing goals



We have also relaxed some of our underwriting criteria to obtain goals-qualifying mortgage loans and increased our investments in higher-risk mortgage loan products that are more likely to serve the borrowers targeted by HUD’s goals and subgoals,
http://www.fanniemae.com/resources/file/ir/pdf/stock-info/series_T_05152008.pdf

HOLY COW! Bush forced them to lower their standards. If only somebody had warned us that Bush's policies would hurt Freddie and Fannie. Wait, somebody did.




Fannie, Freddie to Suffer Under New Rule, Frank Says

Fannie Mae and Freddie Mac would suffer financially under a Bush administration requirement that they channel more mortgage financing to people with low incomes, said the senior Democrat on a congressional panel that sets regulations for the companies.


So if your narrative is "GSEs are to blame" then you have to blame bush


http://democrats.financialservices....s/112/06-17-04-new-Fannie-goals-Bloomberg.pdf

"and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth."

GOT A LINK TO THIS BLOCKING?

Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie


One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush Could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

/

you hate filled liberscum never let up do you ? your fucking MESSiah has done nothing but fuck this country all the way to HELLS gate.



AND ..............................

The ignore feature really cleans things up.

BTW...

Something tells me Dad2-3 has never actually fathered any children of his own. I'm an optimist of course, but I have a hard time believing an ass douche like that can even get it up, let alone find a woman that wouldn't fuck everything around her just to spite a sniveling oxygen thief like that ass douche. He is at best a step father who's singlewide "house" was an upgrade for a meth whore with 3 brats.

There's hope for the kids, since they will likely look at this imbecile with the contempt he deserves and may become productive citizens.

 

[Dad2three]

Anytime someone throws up 4 replies for one post, you know they are desperately trying to throw up anything they can find in order to find ANY points they can try to make "stick".

He tried to blame Bush for the bad home mortgages [FAILED] - as I clearly pointed out the CRA was changed under the executive pen of Preident Clinton.

He tried to blame banks themselves for purposely accepting bad loans to benefit themselves. [FAILED] - Banks since then could no longer determine the risk factor of those borrowers in need of a home mortgage loan, as it could be deemed "discriminatory" towards lower middle income families.

He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).

Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth.

So in essence, Dad2three in blaming Bush, doesn't know what he is talking about, and chooses to be completely ignorant of the issue.

TALK ABOUT FAILURE BUBBA

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


"CRA was changed under the executive pen of Preident Clinton."

ZERO to do with Dubya's regulator failure

January 2013
Debunking the CRA Myth – Again

Since its enactment in 1977, the Community Reinvestment Act (CRA) has been the subject of extensive debate, which has intensified in the wake of the subprime crisis. One of the pernicious myths surrounding CRA is that it encouraged banks to make risky loans to low‐ and moderate‐income borrowers.

This argument has been made primarily by conservative think tanks, like American Enterprise Institute, who find it convenient to include CRA in their general position against governmental intervention in the private market.

But efforts to blame CRA for the most recent crisis reflect a deep misunderstanding of the scope and scale of CRA and its implementation. Indeed, the “blame the CRA” story has been refuted by industry leaders and researchers time and time again. Unfortunately, this narrative refuses to go away.


UNC Center for Community Capital


Given CEOs' proclivity for government bashing, any lenders being driven to write bad loans by the CRA would have been on CNBC screaming at the top of their lungs.

But that dog that didn't bark



He tried to blame banks themselves for purposely accepting bad loans to benefit themselves.


At an FCIC hearing in January 2010, JPMorgan Chase CEO Jamie Dimon told the Commission, “I blame the management teams 100% . . . and no one else.”



Bank of America CEO Brian Moynihan told the FCIC: “Over the course of the crisis, we, as an industry, caused a lot of damage. Never has it been clearer how poor business judgments we have made have affected Main Street.”


Fun With Predatory Lending


“There was always a big financial incentive to make a subprime loan wherever one could.”

-affadavit of Wells Fargo Loan officer

Fun With Predatory Lending | The Big Picture



It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.


The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis - Forbes



"He tried to say Fannie and Freddie was not to blame for their part in this mortgage mess [FAILED] - Fannie and Freddie also loosened their lending standards as well, according to the liberal New York Times (not FOXnews).


WEIRD, YOU MEAN A TRIAL PROGRAM, IN A LIMITED AREA?

No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom:


2. The government’s affordability mission didn’t cause the crisis:


3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.


4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now


AEI'S Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”

LOL

Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture


Then there is the Congressional testimony where Democrats claimed Fannie and Freddie were sound and secure, JUST LIKE THE GOP/BUSH DID IN 2003-2004 ACCOUNTING SCANDALS, AND?

Testimony from Treasury Secretary John Snow to the REPUBLICAN CONGRESS 2003 concerning the 'regulation’ of the GSE’s

Mr. Frank: ...Are we in a crisis now with these entities?

Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
- THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES

Yep, he said "far from it" If you read the testimony, you'd see he reiterated that position. And then you'd see one of the reasons Snow said why they would like the regulation would be to better enforce the housing goals



We have also relaxed some of our underwriting criteria to obtain goals-qualifying mortgage loans and increased our investments in higher-risk mortgage loan products that are more likely to serve the borrowers targeted by HUD’s goals and subgoals,
http://www.fanniemae.com/resources/file/ir/pdf/stock-info/series_T_05152008.pdf

HOLY COW! Bush forced them to lower their standards. If only somebody had warned us that Bush's policies would hurt Freddie and Fannie. Wait, somebody did.




Fannie, Freddie to Suffer Under New Rule, Frank Says

Fannie Mae and Freddie Mac would suffer financially under a Bush administration requirement that they channel more mortgage financing to people with low incomes, said the senior Democrat on a congressional panel that sets regulations for the companies.


So if your narrative is "GSEs are to blame" then you have to blame bush


http://democrats.financialservices....s/112/06-17-04-new-Fannie-goals-Bloomberg.pdf

"and had no need of government oversight to look into their lending practices. They even blocked any proposal of oversight from going forth."

GOT A LINK TO THIS BLOCKING?

Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie


One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush Could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

/

you hate filled liberscum never let up do you ? your fucking MESSiah has done nothing but fuck this country all the way to HELLS gate.



AND ..............................

Got it, YOU hate facts and HATE US

 

[Listening]

/

you hate filled liberscum never let up do you ? your fucking MESSiah has done nothing but fuck this country all the way to HELLS gate.



AND ..............................

Yep,

Lots of bandwidth and nothing to show for it.

He's a tool.

 

[Remodeling Maidiac]

I'd put him at #3 in the last 100 years

Where do you put Obama?