More Jobs Created.

[Faun]

Liar. Bush and Republicans caused the meltdown. The meltdown was due to the bursting of the real estate bubble; and here's the leader of the Republican party at that time bragging about home ownership...

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech

At the same time, he was talking about homeownership he was proposing an agency to oversee Fannie and Freddie.

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
August 5, 1997
http://www.thefreelibrary.com/HUD+to+Fight+Discrimination,+Boost+Minority+Homeownership+and+Work...-a019650647

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg Politics - Bloomberg

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Bloomberg - Are you a robot?

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae


From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
Barney's Rubble


Barney Frank in 2005: What Housing Bubble?



Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street

All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

The end.

A pity for you that the CRA had little to do with the Housing crash.

 

[j-mac]

Trump's tax cut for the rich.

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Tax rate reductions
Always (hard stop)
Always
Increase revenue to the treasury
Won't they dont do is punish the producers
That's why progressives hate it.

Bullshit.

We had tax cuts in 1981, 1982, 2001, 2002, 2003 and 2018 and income tax revenues always fell. Even worse for rightarded economics, the biggest increases we had of income tax revenues came during Democrat presidents when taxes were raised.


View attachment 299551

The Historical Lessons of Lower Tax Rates

LOLOLOLOLOL

The Heritage Foundation???

LOLOLOLOLOL

I posted the actual results of income tax cuts and income tax hikes on income tax revenue --and you moronically tried to refute reality with rightarded bullshit from a rightwing think tank??

Do you have any refutation of the points made in the article?

 

[Markle]

Bullshit.

You paid taxes. These corporations didn't. – Center for Public Integrity

Where do the dollars come from that corporations use to pay income taxes?

 

[j-mac]

LOL....I give that I was sloppy in the article I posted...But "schooled?" Nah....You're just another arrogant dipshit....Nothing new.

Yeah, schooled. I had to educate you on what that actual study published. Had to educate you that you fell for fake news. Had to educate you that you're a dumbass.

Dow industrials touches 29,000 intraday after Friday’s jobs report

Suck it loser.

LOLOL

You poor, idiot. That's good news for me too. My portfolio has never been higher.

With every keystroke you show us how utterly ridiculous your positions are....

LOL

You're an abject imbecile. Who is invested in the stock market who is not doing well? What's wrong with holding that position is good for me too?

The stock market is on fire....Up over 10K since Obama left office....Don't know what you're talking about....

 

[j-mac]

Liar. Bush and Republicans caused the meltdown. The meltdown was due to the bursting of the real estate bubble; and here's the leader of the Republican party at that time bragging about home ownership...

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech

At the same time, he was talking about homeownership he was proposing an agency to oversee Fannie and Freddie.

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
August 5, 1997
http://www.thefreelibrary.com/HUD+to+Fight+Discrimination,+Boost+Minority+Homeownership+and+Work...-a019650647

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg Politics - Bloomberg

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Bloomberg - Are you a robot?

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae


From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
Barney's Rubble


Barney Frank in 2005: What Housing Bubble?



Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street

All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

The end.

A pity for you that the CRA had little to do with the Housing crash.

Except for everything....

 

[OnePercenter]

The US economy created 145,000 jobs in December.

Good for those who landed gigs.

How many of these jobs are full-time paying a living wage?

 

[Markle]

Liar. Bush and Republicans caused the meltdown. The meltdown was due to the bursting of the real estate bubble; and here's the leader of the Republican party at that time bragging about home ownership...

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech

At the same time, he was talking about homeownership he was proposing an agency to oversee Fannie and Freddie.

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
August 5, 1997
http://www.thefreelibrary.com/HUD+to+Fight+Discrimination,+Boost+Minority+Homeownership+and+Work...-a019650647

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg Politics - Bloomberg

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Bloomberg - Are you a robot?

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae


From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
Barney's Rubble


Barney Frank in 2005: What Housing Bubble?



Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street

All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

The end.

A pity for you that the CRA had little to do with the housing crash.

The Community Reinvestment Act (CRA) passed in 1977. It had to do with discrimination, better known as Redlining at the time. It had nothing to do with encouraging or forcing lenders to make high-risk loans.

 

[Markle]

Yes reagan was president in 1988. He crashed the economy at the end of 1981.

Renders anything beyond this worthless. As you know, President Jimmy Carter crashed the economy giving us a 13% inflation rate and 18+% 30-year-mortgages.

 

[OnePercenter]

The US economy created 145,000 jobs in December.

Good for those who landed gigs.

When the government borrows a ton of money from the Fed, and pumps it into the economy, everything is going to look good for a while. That's creating the bubble. But the more they do this, the bigger the bubble gets. Which will hurt worse when it busts. And it does bust. It will bust.
If you wanna know what the close future looks like, take a look at trucking. That's an industry that shows how many products are being made, bought, sold and delivered.
Just in 2019,

The 2019 trucking bloodbath.
Thousands of truck drivers have lost their jobs in 2019 as the transportation 'bloodbath' unfolds. Here's the list of the biggest bankrupt trucking companies.

snipped.....

In the first half of 2019, around 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the amount of bankruptcies from the same period last year — 175.

These trucking companies are not folding because of lack of freight. They're folding because of mismanagement.

Celadon bankruptcy biggest of nearly 800 truck company failures this year

"The largest ever trucking sector bankruptcy, Celadon abruptly shut down — leaving more than 3,000 drivers jobless and in many cases stranded with their rigs — amid an accounting scandal that prosecutors say cost shareholders $60 million. "

All 640 trucking companies had mismanagement? You're stupid.

 

[LA RAM FAN]

Great news....At this rate Trump will post somewhere near Reagan's historic numbers....Certainly good news for millions of American's.

Love how the sheep have fallen for the propaganda over the yeas the myth c

Great news....At this rate Trump will post somewhere near Reagan's historic numbers....Certainly good news for millions of American's.

Reagan’s historic numbers?

That's right...

"President Reagan added 16.5 million jobs during his eight-year term, a 16.5 percent increase."

Which President Created the Most Jobs?

one of the sheep in america that has been brainwash by the corporate controlled media of the lies of traiter Reagan.


get educated.

 

[airplanemechanic]

The US economy created 145,000 jobs in December.

Good for those who landed gigs.

When the government borrows a ton of money from the Fed, and pumps it into the economy, everything is going to look good for a while. That's creating the bubble. But the more they do this, the bigger the bubble gets. Which will hurt worse when it busts. And it does bust. It will bust.
If you wanna know what the close future looks like, take a look at trucking. That's an industry that shows how many products are being made, bought, sold and delivered.
Just in 2019,

The 2019 trucking bloodbath.
Thousands of truck drivers have lost their jobs in 2019 as the transportation 'bloodbath' unfolds. Here's the list of the biggest bankrupt trucking companies.

snipped.....

In the first half of 2019, around 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the amount of bankruptcies from the same period last year — 175.

These trucking companies are not folding because of lack of freight. They're folding because of mismanagement.

Celadon bankruptcy biggest of nearly 800 truck company failures this year

"The largest ever trucking sector bankruptcy, Celadon abruptly shut down — leaving more than 3,000 drivers jobless and in many cases stranded with their rigs — amid an accounting scandal that prosecutors say cost shareholders $60 million. "

All 640 trucking companies had mismanagement? You're stupid.

I'm a truck driver. You're not. You know nothing about the industry, I do.

You do realize that a trucking "company" only need have 1 truck?

 

[j-mac]

Great news....At this rate Trump will post somewhere near Reagan's historic numbers....Certainly good news for millions of American's.

Love how the sheep have fallen for the propaganda over the yeas the myth c

Great news....At this rate Trump will post somewhere near Reagan's historic numbers....Certainly good news for millions of American's.

Reagan’s historic numbers?

That's right...

"President Reagan added 16.5 million jobs during his eight-year term, a 16.5 percent increase."

Which President Created the Most Jobs?

one of the sheep in america that has been brainwash by the corporate controlled media of the lies of traiter Reagan.


get educated.

Reagan was arguably the greatest President of the 20th century....We will see in 5 years when Trump is done...

 

[Markle]

Great news....At this rate Trump will post somewhere near Reagan's historic numbers....Certainly good news for millions of American's.

Love how the sheep have fallen for the propaganda over the yeas the myth c

Great news....At this rate Trump will post somewhere near Reagan's historic numbers....Certainly good news for millions of American's.

Reagan’s historic numbers?

That's right...

"President Reagan added 16.5 million jobs during his eight-year term, a 16.5 percent increase."

Which President Created the Most Jobs?

one of the sheep in america that has been brainwash by the corporate controlled media of the lies of traiter Reagan.


get educated.

Yeah, that should contain some accurate information!

Will Bunch

I'm the national opinion columnist — and I have some strong opinions about what's happening in America, including social injustice, income inequality and, especially, Donald Trump.

 

[LoneLaugher]

Great news....At this rate Trump will post somewhere near Reagan's historic numbers....Certainly good news for millions of American's.

Love how the sheep have fallen for the propaganda over the yeas the myth c

Great news....At this rate Trump will post somewhere near Reagan's historic numbers....Certainly good news for millions of American's.

Reagan’s historic numbers?

That's right...

"President Reagan added 16.5 million jobs during his eight-year term, a 16.5 percent increase."

Which President Created the Most Jobs?

one of the sheep in america that has been brainwash by the corporate controlled media of the lies of traiter Reagan.


get educated.

Reagan was arguably the greatest President of the 20th century....We will see in 5 years when Trump is done...

Nobody argues that. He’s nowhere near the greatest of the 20th century.

 

[Faun]

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Tax rate reductions
Always (hard stop)
Always
Increase revenue to the treasury
Won't they dont do is punish the producers
That's why progressives hate it.

Bullshit.

We had tax cuts in 1981, 1982, 2001, 2002, 2003 and 2018 and income tax revenues always fell. Even worse for rightarded economics, the biggest increases we had of income tax revenues came during Democrat presidents when taxes were raised.


View attachment 299551

The Historical Lessons of Lower Tax Rates

LOLOLOLOLOL

The Heritage Foundation???

LOLOLOLOLOL

I posted the actual results of income tax cuts and income tax hikes on income tax revenue --and you moronically tried to refute reality with rightarded bullshit from a rightwing think tank??

Do you have any refutation of the points made in the article?

LOLOL

Sorry, your rightwing think tank article failed to refute reality.

 

[Faun]

Yeah, schooled. I had to educate you on what that actual study published. Had to educate you that you fell for fake news. Had to educate you that you're a dumbass.

Dow industrials touches 29,000 intraday after Friday’s jobs report

Suck it loser.

LOLOL

You poor, idiot. That's good news for me too. My portfolio has never been higher.

With every keystroke you show us how utterly ridiculous your positions are....

LOL

You're an abject imbecile. Who is invested in the stock market who is not doing well? What's wrong with holding that position is good for me too?

The stock market is on fire....Up over 10K since Obama left office....Don't know what you're talking about....

I don't believe you know what you're talking about. Where did I say it's not on fire? Where did I say it's not a good thing it's way up?

You rightwing freaks are truly a nutty subspecies.

 

[Faun]

Liar. Bush and Republicans caused the meltdown. The meltdown was due to the bursting of the real estate bubble; and here's the leader of the Republican party at that time bragging about home ownership...

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech

At the same time, he was talking about homeownership he was proposing an agency to oversee Fannie and Freddie.

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
August 5, 1997
http://www.thefreelibrary.com/HUD+to+Fight+Discrimination,+Boost+Minority+Homeownership+and+Work...-a019650647

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg Politics - Bloomberg

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Bloomberg - Are you a robot?

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae


From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
Barney's Rubble


Barney Frank in 2005: What Housing Bubble?



Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street

All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

The end.

A pity for you that the CRA had little to do with the Housing crash.

Except for everything....

LOL

Slobbers a Neanderthal.

The Federal Reserve Board has found no connection between CRA and the subprime mortgage problems. In fact, the Board's analysis (102 KB PDF) found that nearly 60 percent of higher-priced loans went to middle- or higher-income borrowers or neighborhoods, which are not the focus of CRA activity. Additionally, about 20 percent of the higher-priced loans that were extended in low- or moderate-income areas, or to low- or moderate-income borrowers, were loans originated by lenders not covered by the CRA. Our analysis found that only six percent of all higher-priced loans were made by CRA-covered lenders to borrowers and neighborhoods targeted by the CRA. Further, our review of loan performance found that rates of serious mortgage delinquency are high in all neighborhood groups, not just in lower-income areas.

FRB: Did the Community Reinvestment Act (CRA) contribute to foreclosures and the financial crisis? And, is the CRA being reformed?​

 

[Faun]

Liar. Bush and Republicans caused the meltdown. The meltdown was due to the bursting of the real estate bubble; and here's the leader of the Republican party at that time bragging about home ownership...

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech

At the same time, he was talking about homeownership he was proposing an agency to oversee Fannie and Freddie.

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
August 5, 1997
http://www.thefreelibrary.com/HUD+to+Fight+Discrimination,+Boost+Minority+Homeownership+and+Work...-a019650647

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg Politics - Bloomberg

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Bloomberg - Are you a robot?

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae


From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
Barney's Rubble


Barney Frank in 2005: What Housing Bubble?



Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street

All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

The end.

A pity for you that the CRA had little to do with the housing crash.

The Community Reinvestment Act (CRA) passed in 1977. It had to do with discrimination, better known as Redlining at the time. It had nothing to do with encouraging or forcing lenders to make high-risk loans.

LOLOL

Rightards blame the CRA for cratering the economy 30 years later.

 

[OnePercenter]

The US economy created 145,000 jobs in December.

Good for those who landed gigs.

When the government borrows a ton of money from the Fed, and pumps it into the economy, everything is going to look good for a while. That's creating the bubble. But the more they do this, the bigger the bubble gets. Which will hurt worse when it busts. And it does bust. It will bust.
If you wanna know what the close future looks like, take a look at trucking. That's an industry that shows how many products are being made, bought, sold and delivered.
Just in 2019,

The 2019 trucking bloodbath.
Thousands of truck drivers have lost their jobs in 2019 as the transportation 'bloodbath' unfolds. Here's the list of the biggest bankrupt trucking companies.

snipped.....

In the first half of 2019, around 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the amount of bankruptcies from the same period last year — 175.

These trucking companies are not folding because of lack of freight. They're folding because of mismanagement.

Celadon bankruptcy biggest of nearly 800 truck company failures this year

"The largest ever trucking sector bankruptcy, Celadon abruptly shut down — leaving more than 3,000 drivers jobless and in many cases stranded with their rigs — amid an accounting scandal that prosecutors say cost shareholders $60 million. "

All 640 trucking companies had mismanagement? You're stupid.

I'm a truck driver. You're not. You know nothing about the industry, I do.

You do realize that a trucking "company" only need have 1 truck?

While it's true that I'm not a truck driver, I am an investor that has and is currently investing in the industry.

As a truck driver, what effects have UBER Brokerage and Amazon Freight done to freight rates?

As a truck driver, what effects have tRumps tariff's done to freight rates?

As a truck driver, you do know the freight rates are down 14% last month compared to one year ago.

As a truck driver, you know that total US freight costs for 2019 were $1.037 trillion. Now subtract 14% and you'll see the problem. Even worse, freight costs in 2018 were $1.5 trillion which is a $364 billion dollar loss to the trucking industry.

Anything else?

 

[airplanemechanic]

The US economy created 145,000 jobs in December.

Good for those who landed gigs.

When the government borrows a ton of money from the Fed, and pumps it into the economy, everything is going to look good for a while. That's creating the bubble. But the more they do this, the bigger the bubble gets. Which will hurt worse when it busts. And it does bust. It will bust.
If you wanna know what the close future looks like, take a look at trucking. That's an industry that shows how many products are being made, bought, sold and delivered.
Just in 2019,

The 2019 trucking bloodbath.
Thousands of truck drivers have lost their jobs in 2019 as the transportation 'bloodbath' unfolds. Here's the list of the biggest bankrupt trucking companies.

snipped.....

In the first half of 2019, around 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the amount of bankruptcies from the same period last year — 175.

These trucking companies are not folding because of lack of freight. They're folding because of mismanagement.

Celadon bankruptcy biggest of nearly 800 truck company failures this year

"The largest ever trucking sector bankruptcy, Celadon abruptly shut down — leaving more than 3,000 drivers jobless and in many cases stranded with their rigs — amid an accounting scandal that prosecutors say cost shareholders $60 million. "

All 640 trucking companies had mismanagement? You're stupid.

I'm a truck driver. You're not. You know nothing about the industry, I do.

You do realize that a trucking "company" only need have 1 truck?

While it's true that I'm not a truck driver, I am an investor that has and is currently investing in the industry.

As a truck driver, what effects have UBER Brokerage and Amazon Freight done to freight rates?

As a truck driver, what effects have tRumps tariff's done to freight rates?

As a truck driver, you do know the freight rates are down 14% last month compared to one year ago.

As a truck driver, you know that total US freight costs for 2019 were $1.037 trillion. Now subtract 14% and you'll see the problem. Even worse, freight costs in 2018 were $1.5 trillion which is a $364 billion dollar loss to the trucking industry.

Anything else?

You can to back up your numbers? Those are not at all the numbers I know.

Your numbers are a bunch of bullshit. Hell dry van, the most common freight, was UP in December. Lots of them were up. Reefer and flatbed were up 47% and 22% respectively.

Me thinks you need a better financial adviser who actually KNOWS THE NUMBERS.

Current Freight Rates - December 2019 | TCI Business Capital