colfax_m
Diamond Member
- Nov 18, 2019
- 38,988
- 14,843
Fannie Mae and Freddie Mac Bailout DebacleNope!False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.Who all had the backing of Fannie and Freddie, which Barnacle Frank and Chrissy Dodd just adored and wouldnt allow sub primes to be red lined. Dont fucking try to play a game with me, my intellect is 100s higher than your pea brain.involvement of private mortgage lenders
Private mortgage lenders did not have the backing of Fannie and Freddie. They had no need for them. The mortgages were bundled into mortgage backed securities and sold off to investors worldwide by prominent investment firms such as Bear Stearns (ring any bells yet?) who had obscured the risk of those securities.The reason why most of the US hates the fucking government is because shitfucks like you turn a blind eye. Then when the shit hits the fan you blame anyone but the real problem...which is the fucking government. Another IQ of 30 person trying to debate me...The dominant role Fannie and Freddie play today is no accident. The companies, Wall Street firms, mortgage bankers, real estate agents and Washington lawmakers have built up an unusual and mutually beneficial co-dependency, helped along by robust lobbying efforts and campaign contributions. In Washington, Fannie and Freddie’s sprawling lobbying machine hired family and friends of politicians in their efforts to quickly sideline any regulations that might slow their growth or invite greater oversight of their business practices.
Alright genius. Since you're so brilliant, why don't you tell me how Fannie and Freddie back the private mortgage lenders?