Disaster Capitalism

[thereisnospoon]

And what will be the result on the lives of the american people?

Specifically what?
Stop asking such vague questions.
You remind of a insolent hyperactive child that screeches "WHAT'S THAT?!!!!: then does not bother to tell what the fuck he's pointing at.

 

[thereisnospoon]

BriPat... you are so sure that your side is Correct on all issues... You are willing to believe all the "Obama is the antichrist" crap that your side spews. But even plausible scenarios... because they come from the "left", is all propaganda.

There's no idiot like a useful one. The Koch brothers ought to knight you.

Scuse me....who rattled your cage?

If we want useless banter, we'll contact you. Otherwise, unless you've got something to add to the discussion, stay on the sidelines.

 

[Dot Com]

BriPat... you are so sure that your side is Correct on all issues... You are willing to believe all the "Obama is the antichrist" crap that your side spews. But even plausible scenarios... because they come from the "left", is all propaganda.

There's no idiot like a useful one. The Koch brothers ought to knight you.

I know bripat. It's a wonder you even bother to read his Koch Bros- inspired posts. I don't

 

[Dot Com]

which administration said "never let a crisis go to waste"?

bingo!

 

[thereisnospoon]

which administration said "never let a crisis go to waste"?

bingo!

You guys are forgetting that Bush and team created the economic disaster

Yeah, sure..Need I cite the many instances where Reps Frank and Watts, Sens Dodd and Reid stated emphatically that there was nothing wrong with Fannie/Freddie?
Please. This is spin to the nth degree by the Left.
One last time and make sure this sinks into your concrete cranium, IT'S THE DEMOCRAT'S WATCH....Your side owns this now.

 

[thereisnospoon]

The question is why do you think Capitalism is some magic pony?

There's nothing "magic" about capitalism. It's purely a matter of respecting the laws of economics. Any attempt to flout the laws of economics results in disaster. That's what socialism is, an assault on the laws of economics.

Yep and the laws of economics says do not spend more money than you can afford.
Overspending on govt, personal and corporate levels created this mess we are now in.
And Bush did more than his share to contribute to the current mess.

Yes Bush was a big spender...On social programs. Obama;s spending makes Bush's spending
look like that of a miser.
And what does this have to do with socialism being corrosive to sound economics? Nothing.
There is no escape. The democrats own this.

 

[Dot Com]

CRA had nothing to do with this mess and only right wing brain washed fools buy that tripe.

The amount mandated in the CRA program was NEVER enough to cause this mess.

Why did so many of the non CRA lenders write massive amounts of sub primes?

Because they were making money off them.

There was no "amount" mandated by the CRA. What it did is give leftwing agitators like ACORN the right to sue banks who they claimed were not giving out enough loans to deadbeats. When the rules are changed to make it possible for deadbeats to get a loan, they are changed for everyone.

There isn't a shred of truth in anything you post. It's all leftwing deflection and talking points - every bit of it is straight from a Soros funded propaganda mill.

Why are all you right wingers so fucking ignorant? EVERYTHING you believe is nothing but bullshit social propaganda spoon fed to you by the Fox News, right wing talking heads and every other mouthpiece for the elite. It is amazing you make it across the street without getting creamed...you don't even know your ass from a hole in the ground!

Is the Wall Street Journal 'credible' enough for you Monica?

Here is what we DO know:

1) The financial crisis was not caused by low and middle income families buying a home.

2) It was not caused by dead beat poor people.

3) Fannie and Freddie were not to cause.

4) The Community Investment Act was not the culprit either.

The crisis was caused by private lending, to mostly upper middle class and the wealthy. ONLY 6% of of all the higher-priced loans were extended by CRA-covered lenders to lower-income borrowers or neighborhoods in their CRA assessment areas. The majority of those foreclosed on were wealthy and upper middle class, plus a large segment of buyers who were wealthy home flippers looking for a fast buck. They strategically walked away from their mortgages, leaving people who bought homes to live in with lower values on their house and neighborhood.

AND, what really sucks for the right wing propaganda of lies, all the way back to the late '90's there was one very outspoken and vocal critic of predatory lending practices, they even held protests at companies like Wells Fargo and Lehman Brothers...ACORN


WSJ - Fed’s Kroszner: Don’t Blame CRA

WSJ - Fed’s Kroszner: Don’t Blame CRA - The Sequel

Reuters - UPDATE 2-Lending to poor didn't spur crisis

Don't Blame the Community Reinvestment Act

Business Insider - Here's Why Fannie And Freddie Are Not At Fault For The Housing Bubble

Center for Responsible Lending - CRA is not to Blame for the Mortgage Meltdown

Don't blame Fannie and Freddie

Private sector loans, not Fannie or Freddie, triggered crisis

ForeclosureS.com - ACORN - Progress in the Fight Against Predatory Lending

Acorn Led Financial Sector With Warnings on Lending

Biggest Defaulters on Mortgages Are the Rich

The Millionaire Foreclosure Club

Foreclosure double standard: Why the rich get away with defaulting

More Rich People Default On Mortgages

The rich bail faster on mortgages

Biggest Defaulters on Mortgages Are the Rich

Rich Borrowers More Likely to Default on Mortgage

Foreclosures & Walking Away: 60 Minutes Eyes an ‘Epidemic’

Speculation By Investors Largely Cause Of Foreclosure Crisis

How the Foreclosure Crisis Started: Investors, Speculators, Mortgage Fraud & Lax Lending Standards


"Eighty percent of Republicans are just Democrats that don't know what's going on"
Robert F. Kennedy Jr.

Post of the day

 

[thereisnospoon]

The Bush SEC held back for YEARS the very protections written into the GLB act so that the lenders could do whatever they wanted.

They did and we got fucked.

You are nothing but a cheerleader.

You never have anything of factual basis to say.

Please iron your little skirt and go have a slumber party with your other cheerleaders.

Link? Or do we just have to take your word for it?

 

[thereisnospoon]

Hell maybe the republicans will vote to ruin the country by not raising the debt limit.

Maybe they have been promised a piece of the pie after we all get fucked.

hey, moron. you have it backwards.

Ruining the country would be raising the limit. Tell me, is it better to pay credit card debt with credit cards or better to just pay your bill? Honestly.

So what do you think would happen to our debt if we default? Try it with you credit card and see how much leverage it gives you.

Default is not an option. Fiscal responsibility is the priority.
If certain sacred cow programs lose some of their funding, so be it.

 

[thereisnospoon]

BriPat... you are so sure that your side is Correct on all issues... You are willing to believe all the "Obama is the antichrist" crap that your side spews. But even plausible scenarios... because they come from the "left", is all propaganda.

There's no idiot like a useful one. The Koch brothers ought to knight you.

Of course it's propaganda. Socialism is a colossal swindle. Every argument used to support it is a lie. This is just one more.

Obama is a Marist thug.

And Corporatism isn't? You really think that the most powerful ought to get all the legal breaks in addition to their already incredibly wealthy status? Because look around you slick... that's exactly what's happening.

How old are you? If your young enough(if your side gets it's way) you are in for a rude awakening. Once Corporations have full control of our country(they already have control of a significant chunk), your opinions ain't gonna matter anymore. You keep speaking of tyranny? You have no clue what tyranny is. What's more tyrannical than leaders you can't vote out... That's exactly what Corporatism does.

What you are unwittingly trying to do is turn the United States of America into the world's largest Banana Republic.... and no... not the one you buy clothes from.

You want to scale back the power of our DULY ELECTED Representation in Washington and hand it over to Greed. Somehow... you think that if you do that... things will be better.

History proves it. Look at the late 1800's-early 1900's for an example.

You should know all about tyranny. There is no worse form of tyranny than socialism.

 

[The T]

hey, moron. you have it backwards.

Ruining the country would be raising the limit. Tell me, is it better to pay credit card debt with credit cards or better to just pay your bill? Honestly.

So what do you think would happen to our debt if we default? Try it with you credit card and see how much leverage it gives you.

Default is not an option. Fiscal responsibility is the priority.
If certain sacred cow programs lose some of their funding, so be it.

Shame the moochers have to learn to do things on their own.

 

[thereisnospoon]

The Bush SEC held back for YEARS the very protections written into the GLB act so that the lenders could do whatever they wanted.

In other words, the law under Bush was no different than the law under Clinton, but we are supposed to believe that somehow Bush is responsible?

The liberal talent for ignoring facts is incomparable.

No that is NOT what was said.

Why do you have so much truoble understand the facts?

What facts might those be?

 

[AmericanFirst]

Hell maybe the republicans will vote to ruin the country by not raising the debt limit.

Maybe they have been promised a piece of the pie after we all get fucked.

Better than what obamaturd and his socialist friends are doing. Capitalism is way better than socialism any day. If you don't believe that, than you can move to europe.

 

[AmericanFirst]

How many of you know what it is?

I would suspect it ties into the concept of - in fear and the resulting confusion there is opportunity for profit?

It is what the socialist left does and then blames the right. Idiots.

 

[AmericanFirst]

Of course the REAL concern isn't that people are waiting in the wings hoping for some SHOCK to give them an opportunity to foist their pet projects and plans on the public.

You mean like Obamacare, the "stimulus," the auto union bailout?

Like the executive orders that obamaturd sneaks in when the media is focused on something else, like weiner gate.

 

[AmericanFirst]

Of course the REAL concern isn't that people are waiting in the wings hoping for some SHOCK to give them an opportunity to foist their pet projects and plans on the public.

You mean like Obamacare, the "stimulus," the auto union bailout?

Like the executive orders that obamaturd sneaks in when the media is focused on something else, like weiner gate.

Obamaturd is a sneak artist. He knows that what he is doing is harming America so he tries to sneak it in or does behind the door deals, like the healthcare legislation. The idiot.

 

[thereisnospoon]

How many of you know what it is?

Just remember, your socialism could not survive without my capitalism. For someone who loves other peoples money you sure are hateful to those who create the job opportunities and those who work those jobs.
Tell me something...do you have a job? If so, you are a capitalist, that is unless you work for free.

My socialism?

Look if you could be honest for just a couple of minutes and quit using the fucking lies you lap up from your masters you may actually learn something all on your own instead of having to be told what to think by some right wing hack site.

Yes....YOUR socialism....Your side owns it. The rest of us don't want it. Period. Socialism is SHIT.SHIT SHIT SHIT...

 

[thereisnospoon]

Capitalism is the key to mans freedom.

I am a Capitalist.

I jsut am not so brainwashed as to think it is perfection.

It like EVERY system has it dangers.

When you correctly fetter it with wise regulations and are willing to alter those regulations as needed then you get a system that is Awsome.

There is no automatic setting where you can set it and forget it.

That is a braindead lie from the very people who benifit from an unfettered market.

You bought their lies.

And this is a perfect example of how you libs want everything both ways.
You bitch and moan about how you believe capitalism to be evil, then you claim to embrace capitalism.

 

[thereisnospoon]

Who did create the sub-prime mortgage debacle?

Bush warned Congress years before it happened.

Folks like Barney Frwank and Chris Dodd ignored him.

When the Dems took over Jan of 07 they tightened lending regulations. Up until that point anyone could get a loan with no qualifications under the Sub-prime program using "Stated Income" as a qualification. I was a loan officer during in the period leading up to the housing debacle so I know what was going on.

I remember seeing families that couldn't afford to pay their rent moving into mansions and trashing the place, living rent free, then just leaving the place a mess. This was going on all over the country. Somebody told them they could get away with it, so they did it.

Some people that obtained ARM loans during the period before 07 needed to refinance to avoid massive increases in their payments and found they no-longer qualified for the home they lived in. So many of them defaulted and just walked away from their mortgages. People that need these types of programs even to qualify for a loan in the first place due to bad credit did what they always do, they shirked their responsibility.

A lack of accountability is the primary cause of the sub-prime crisis.

[ame="http://www.youtube.com/watch?v=RYz1rbB5V1s&feature=player_embedded"]YouTube - ‪Who is Responsible? (Meltdown): Fannie Mae - Freddie Mac - Wall Street - Bill Clinton - George Bush?‬‏[/ame]

[ame="http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=player_embedded"]YouTube - ‪Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis‬‏[/ame]

The libs will do anything or say anything to discredit this and other video/audio evidence.
I suppose the libs will say things like..."it' edited to make the democrats look bad"....."it's fake!"
And of course their old fall back position, "Bush did it"....

 

[thereisnospoon]

Who said they want no cuts?

The democrats went ass over tea kettle when the GOP attempted to cut a miniscule 60 billion from a budget of nearly 3 trillion dollars.
What the fuck are you talking about?