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i can still remember bill o'rielly on this subject., i think it was late 2009/early 2010, he bitched and bitched on how it was around 10% of the adults in the USA who F*****Ked it up for the rest taking out mortgages they knew they couldnt afford. and he was right,,,,frikkin greedy poor people who wanted it all,.,,AND WANTED IT NOW !!!!
the banks were FORCED to do it, so they found the loophole.
the collapse of 2008 was caused by
1) Clinton's repeal of Glass-Steagall
2) forceful enforcement of the mortgage loaning to dangerous clients with penalties if the banks do not - forced by dems
3) banks finding loopholes to do so and go on steroids with risks
4) Dems refusing to control the Fanny and Freddie with Barney outfront LYING that everything is nice and peachy
5) irresponsible greedy customers who wanted to make their little buck in the growing and growing and growing bubble
I have read a LOT of stupid things written here by those that identify as Republicans.
But the highlighted above is close to the most stupid thing I have read. Yet.
Thank you for saying that. It was amazing to see your warped sense of the world.
The banks were "forced" to make bad loans. Priceless.
Community Reinvestment Act??? (liberal policies)
To comply with the CRA, banks had to show that they did not discriminate in making loans in poor and black neighborhoods!
That compliance got tougher in 1995 when Clinton decided to help fuck shit up, forcing banks to demonstrate statistically they were making their quota of loans in low-income neighborhoods and encouraging community activist groups like NACA to file complaints against banks.
i can still remember bill o'rielly on this subject., i think it was late 2009/early 2010, he bitched and bitched on how it was around 10% of the adults in the USA who F*****Ked it up for the rest taking out mortgages they knew they couldnt afford. and he was right,,,,frikkin greedy poor people who wanted it all,.,,AND WANTED IT NOW !!!!
in my level of responsibility I place those 10% on the LAST position.
There are much more responsible in a much higher positions.
and though people in the last positions differ, all of the higher-ups have something very common - they ALL are leftard dimocraps
I wonder how pissed middle class americans who worked 2/3 years to buy a home felt back then as banks were giving away homes to the poor and even dead people.
You are either an idiot or drinking heavily. Or both. You figure out which tax you were talking about earlier? Was it the capital corporate real estate income abatement tax? Is that the one?
I think it was 15%. Yea, that's the one.
you better STFU yourself, idiot.
You have just submitted to the whole world how ignorant you are that you never heard of CRA and the ways of its enforcement
I wonder how pissed middle class americans who worked 2/3 years to buy a home felt back then as banks were giving away homes to the poor and even dead people.
You are either an idiot or drinking heavily. Or both. You figure out which tax you were talking about earlier? Was it the capital corporate real estate income abatement tax? Is that the one?
I think it was 15%. Yea, that's the one.
you better STFU yourself, idiot.
You have just submitted to the whole world how ignorant you are that you never heard of CRA and the ways of its enforcement
bush walked into a good economy
whether Clinton earned.it or not would be another thread
obama had it rough starting out..
whos policies at fault would be another thread LOL
Bush walked into RECESSION which he steered away quickly and skillfully.
Obama walked into the same recession and made things much worse
IDK Vox..
I have always looked at calling the " Dot Com burst" being a recession was a RW talking point.
The "2000 recession" didn't hit the US until 2002 or 2003 I think? That happened in most developed countries..
Besides, there wasn't even 2 consecutive quarters of loss here in the US.
You are either an idiot or drinking heavily. Or both. You figure out which tax you were talking about earlier? Was it the capital corporate real estate income abatement tax? Is that the one?
I think it was 15%. Yea, that's the one.
you better STFU yourself, idiot.
You have just submitted to the whole world how ignorant you are that you never heard of CRA and the ways of its enforcement
VOX hey I been reading your rantings. You are lucky you can spell C R A.
you better STFU yourself, idiot.
You have just submitted to the whole world how ignorant you are that you never heard of CRA and the ways of its enforcement
VOX hey I been reading your rantings. You are lucky you can spell C R A.
feeling that you embarrassed yourself, sunshine? I am sure it is not the first time and definitely not the last one - libtards are brainless, and it will continue
Even a frog has a brain. Surely libtards at least have the intelligence of a frog.you better STFU yourself, idiot.
You have just submitted to the whole world how ignorant you are that you never heard of CRA and the ways of its enforcement
VOX hey I been reading your rantings. You are lucky you can spell C R A.
feeling that you embarrassed yourself, sunshine? I am sure it is not the first time and definitely not the last one - libtards are brainless, and it will continue
VOX hey I been reading your rantings. You are lucky you can spell C R A.
feeling that you embarrassed yourself, sunshine? I am sure it is not the first time and definitely not the last one - libtards are brainless, and it will continue
You are an idiot. I wrote mortgage loans for banks. I attended I don't know how many sessions on Fair Lending and the CRA requirements for banks.
You and you CRA blaming buddies don't know what the fuk you are talking about. True story. You don't know what the fuk you are talking about.
Now you don't even have to go online and do your research.
Just tell us how well off you were financially, the equity you built in your home, the numerous job offers you had to refuse because of "The Booming Bush Economy".
Wasn't unemployment around 5% back then? Homes were selling faster than the time it took for an Obama Supporter to answer "Who Is The Vice-President" ??
And what was the national debt in 2005?
No need to compare the stats of 2013. And the left thinks all is doing well? The economy is booming??
I tripled my income under Bush. Under Obama, my former employer offered me a promotion but the promotion included my choice of moving to China, Saudi Arabia, Brazil, or India; or 90% travel within the US. My previous job you see was off-shored to China, the whole team to be specific. I turned the "generous" offer down and now work at home for a small startup, happily, for about 1/2 my previous salary.
IMO this President and his fellow democrats, really just don't give a shit about anyone who is not at least one of rich, poor, a union member, or a government worker.
I have read a LOT of stupid things written here by those that identify as Republicans.
But the highlighted above is close to the most stupid thing I have read. Yet.
Thank you for saying that. It was amazing to see your warped sense of the world.
The banks were "forced" to make bad loans. Priceless.
Community Reinvestment Act??? (liberal policies
To comply with the CRA, banks had to show that they did not discriminate in making loans in poor and black neighborhoods!
That compliance got tougher in 1995 when Clinton decided to help fuck shit up, forcing banks to demonstrate statistically they were making their quota of loans in low-income neighborhoods and encouraging community activist groups like NACA to file complaints against banks.
TN dude you are wrong about what he CRA did. It has been explained right on these pages many MANY times. I wrote mortgage loans for 18 years. You don't know what the fuk you are talking about.
Plain and simple for you. Mortgage brokers were writing the vast bulk of high risk mortgage loans. High risk liar loan. NINA loans. Brokers wrote that business. Not banks. (Though some banks did buy broker operations to get in on the action) Mortgage brokers did not operate under CRA requirements. Mortgage brokers are not "banks" and "banks" are what had to operate under CRA requirements.
Geez dude. Quit believing everything you read on here.
