Jarhead
Gold Member
- Jan 11, 2010
- 20,670
- 2,378
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Once you put in the proper regulations this shit will NOT happen again.
Your party fought the left to get this shit passed.
Your party claimed it would bring great things to America.
It crashed the world economy.
That is one big fucking mistake to overlook
Lets just say you are correct......
So Fannie and Freddie capitalized on the fact that there were no proper regulations...and they failed......and now you are saying "lets put in regulations so they cant capitalize on them and they wont fail?"
Is that fair to those that did NOT capitalize on the lack of regulations and did things properly becuase they deemed it appropriate?
Do you not realize that it is the business model that failed? The ethics of the people in charge that failed?
How many bad mortgages did freddy and fanny write?
the fact that you are asking me that question makes it clear that you do not understand the roll of fannie and freddie in the lending industry....and I really dont have the patience to explain it to you.
I assumed you knew what they did.....
And by the way....nobody writes a bad mortgage...a mortgage goes bad..
When an underwrite approves a loan he/she takes invto consideration many factors....credit rating, debt to income ratio, appraised value of property, income stability, down payment to cost ratio....and if it is apporved it is becuase it is a "good" risk.
However, sometimes they go bad.....for a variety of reasons. Loss of income....lies on an application.....natural disasters.....