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Just look at this clown! He's diving headfirst into discussion of a tax bill and he doesn't even know what "income" is! He also has "no idea what alimony is about." Despite having likely signed numerous of his own tax returns from this very country, he's still utterly dumbfounded by even the most basic concepts on page 1 of that return!We have this idiot, Ray, who can't figure out what "income" is:
And we have this Commie, Brouse, who believes government is more entitled to an Americans money than his family is.
I'm not surprised you know so little. That's why you vote D.
F&F were not regulated by GOP. In fact, every attempt to regulate them was rejected and blocked by the Dems.
The problem was never Fannie and Freddie, brainwashed functional s*******... It was the private lending organizations that sold mortgages to anyone even breathing. And they were rated A+... Your GOP Regulators are garbage. How many times do they have to wreck the country for you idiots to understand? See 1929, SNL Scandal in 1988 and many other times.
You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.
Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?
I'm not surprised you know so little. That's why you vote D.
F&F were not regulated by GOP. In fact, every attempt to regulate them was rejected and blocked by the Dems.
The problem was never Fannie and Freddie, brainwashed functional s*******... It was the private lending organizations that sold mortgages to anyone even breathing. And they were rated A+... Your GOP Regulators are garbage. How many times do they have to wreck the country for you idiots to understand? See 1929, SNL Scandal in 1988 and many other times.
You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.
Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?
Because of the Boom in BS Lending by chrony private lenders who are Pals of the GOP Regulators if you can call them that... D u hWho decides what is F&F market share?
You do know why they lost that market share, right?
I'm not surprised you know so little. That's why you vote D.
F&F were not regulated by GOP. In fact, every attempt to regulate them was rejected and blocked by the Dems.
The problem was never Fannie and Freddie, brainwashed functional s*******... It was the private lending organizations that sold mortgages to anyone even breathing. And they were rated A+... Your GOP Regulators are garbage. How many times do they have to wreck the country for you idiots to understand? See 1929, SNL Scandal in 1988 and many other times.
You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.
Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
And the giant give away to the rich and giant corporations continues dupe....We have this idiot, Ray, who can't figure out what "income" is:
And we have this Commie, Brouse, who believes government is more entitled to an Americans money than his family is.
Yes Fannie and Freddie had 75% of the market for years, so your statistic proves nothing. What you have to look at is the amount of bailouts, which is for mainly crony GOP independent lending institutions who were allowed to sell toxic mortgages to millions and cause the world depression.Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?The problem was never Fannie and Freddie, brainwashed functional s*******... It was the private lending organizations that sold mortgages to anyone even breathing. And they were rated A+... Your GOP Regulators are garbage. How many times do they have to wreck the country for you idiots to understand? See 1929, SNL Scandal in 1988 and many other times.
You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.
Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
It is certainly possible to find prime mortgages among borrowers below the median income, but when half or more of the mortgages the GSEs bought had to be made to people below that income level, it was inevitable that underwriting standards had to decline. And they did. By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans. Fannie and Freddie were by far the largest part of this effort, but the FHA, Federal Home Loan Banks, Veterans Administration and other agencies--all under congressional and HUD pressure--followed suit. This continued through the 1990s and 2000s until the housing bubble--created by all this government-backed spending--collapsed in 2007. As a result, in 2008, before the mortgage meltdown that triggered the crisis, there were 27 million subprime and other low quality mortgages in the US financial system. That was half of all mortgages. Of these, over 70% (19.2 million) were on the books of government agencies like Fannie and Freddie, so there is no doubt that the government created the demand for these weak loans; less than 30% (7.8 million) were held or distributed by the banks, which profited from the opportunity created by the government.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
Now they could try cutting taxes seriously on the middle class and the working class for a change. breaking For dupes... Count all taxes and fees and the poorest to the richest all pay between 20 and 30% of their income. A bonanza for the rich, Dupe. For 35 years now.And the giant give away to the rich and giant corporations continues dupe....We have this idiot, Ray, who can't figure out what "income" is:
And we have this Commie, Brouse, who believes government is more entitled to an Americans money than his family is.
No dope, there is no giveaway. Taking less of people's money is not giving them anything.
Yes Fannie and Freddie had 75% of the market for years, so your statistic proves nothing. What you have to look at is the amount of bailouts, which is for mainly crony GOP independent lending institutions who were allowed to sell toxic mortgages to millions and cause the world depression.Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.
Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
It is certainly possible to find prime mortgages among borrowers below the median income, but when half or more of the mortgages the GSEs bought had to be made to people below that income level, it was inevitable that underwriting standards had to decline. And they did. By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans. Fannie and Freddie were by far the largest part of this effort, but the FHA, Federal Home Loan Banks, Veterans Administration and other agencies--all under congressional and HUD pressure--followed suit. This continued through the 1990s and 2000s until the housing bubble--created by all this government-backed spending--collapsed in 2007. As a result, in 2008, before the mortgage meltdown that triggered the crisis, there were 27 million subprime and other low quality mortgages in the US financial system. That was half of all mortgages. Of these, over 70% (19.2 million) were on the books of government agencies like Fannie and Freddie, so there is no doubt that the government created the demand for these weak loans; less than 30% (7.8 million) were held or distributed by the banks, which profited from the opportunity created by the government.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?The problem was never Fannie and Freddie, brainwashed functional s*******... It was the private lending organizations that sold mortgages to anyone even breathing. And they were rated A+... Your GOP Regulators are garbage. How many times do they have to wreck the country for you idiots to understand? See 1929, SNL Scandal in 1988 and many other times.
You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.
Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
Now they could try cutting taxes seriously on the middle class and the working class for a change. breaking For dupes... Count all taxes and fees and the poorest to the richest all pay between 20 and 30% of their income. A bonanza for the rich, Dupe. For 35 years now.And the giant give away to the rich and giant corporations continues dupe....We have this idiot, Ray, who can't figure out what "income" is:
And we have this Commie, Brouse, who believes government is more entitled to an Americans money than his family is.
No dope, there is no giveaway. Taking less of people's money is not giving them anything.
Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.
Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
That is what is known as misleading propaganda, dupe. We're trying to talk about toxic loans and you're talking about subprime loans, and up until 2002 at that. That was when Fannie and Freddie lost 2/3 of their share of the market 2 independent Financial institutions that caused a world depression with their toxic loans. Poor GOP dupe...Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
He said 1 trillion dollars in bad Fannie and Freddie mortgages.
By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
DERP!
That is what is known as misleading propaganda, dupe. We're trying to talk about toxic loans and you're talking about subprime loans, and up until 2002 at that. That was when Fannie and Freddie lost 2/3 of their share of the market 2 independent Financial institutions that caused a world depression with their toxic loans. Poor GOP dupe...Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
He said 1 trillion dollars in bad Fannie and Freddie mortgages.
By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
DERP!
.
There is subprime and then there is toxic for crying out loud... Are you saying Fannie and Freddie was back to 70% of the market by 2008 ? Makes sense because by that time The Jig was up for the independent cronies of the GOP... Great job scumbag GOP and silly dupes like you...That is what is known as misleading propaganda, dupe. We're trying to talk about toxic loans and you're talking about subprime loans, and up until 2002 at that. That was when Fannie and Freddie lost 2/3 of their share of the market 2 independent Financial institutions that caused a world depression with their toxic loans. Poor GOP dupe...Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
He said 1 trillion dollars in bad Fannie and Freddie mortgages.
By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
DERP!
.
We're trying to talk about toxic loans and you're talking about subprime loans,
Do you think the conforming loans are the ones that turned toxic?
Or was it the sub primes loans? The sub prime loans made to people with
low credit scores and small down payments?
Or the loans made to people with high credit scores and 20% down?
That was when Fannie and Freddie lost 2/3 of their share of the market
70% of all subprime mortgages by 2008. 70 fucking percent!!!!!
They made quite a comeback, wouldn't you say?
That is what is known as misleading propaganda, dupe. We're trying to talk about toxic loans and you're talking about subprime loans, and up until 2002 at that. That was when Fannie and Freddie lost 2/3 of their share of the market 2 independent Financial institutions that caused a world depression with their toxic loans. Poor GOP dupe...Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
He said 1 trillion dollars in bad Fannie and Freddie mortgages.
By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
DERP!
.
Funny how Fannie and Freddie Etc found worthy subprime candidates, while after 2002 the GOP non-regulated Independents found millions of toxic people... Blaming it on Fannie and Freddie is a joke. they lost two-thirds of their 70% of the market when the scam took over in 2002. great job GOP and silly dupes...That is what is known as misleading propaganda, dupe. We're trying to talk about toxic loans and you're talking about subprime loans, and up until 2002 at that. That was when Fannie and Freddie lost 2/3 of their share of the market 2 independent Financial institutions that caused a world depression with their toxic loans. Poor GOP dupe...Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
He said 1 trillion dollars in bad Fannie and Freddie mortgages.
By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
DERP!
.
Let me explain something to you:
The two major loans banks give are prime loans and subprime loans.
Prime loans are when the bank lends you their own money. To get such a loan, you need outstanding credit, a history of working with the same company for some time, and a reasonable down payment.
Subprime loans are for people that can't get prime loans because of the requirements. They were created at the end of the Carter administration. They are also loans that will be sold off in the market.
So the banks make money from the transaction, sell them off to other people, and because they are less than standard loans, the are usually given on the terms of an Adjustable Rate Mortgage, or ARM for short.
With an ARM, interest rates are subject to rise. When you get a loan for 2% or 3%, there is only one way they can go, and that is up. Because banks were pressured by the government to make loans, they used subprime.
So what you had are people that were not credit worthy getting loans, and when the interest rates increased, they were no longer able to repay those loans; the banks foreclosed. And that's the story behind the housing bubble and crash.
Funny how Fannie and Freddie Etc found worthy subprime candidates, while after 2002 the GOP non-regulated Independents found millions of toxic people... Blaming it on Fannie and Freddie is a joke. they lost two-thirds of their 70% of the market when the scam took over in 2002. great job GOP and silly dupes...That is what is known as misleading propaganda, dupe. We're trying to talk about toxic loans and you're talking about subprime loans, and up until 2002 at that. That was when Fannie and Freddie lost 2/3 of their share of the market 2 independent Financial institutions that caused a world depression with their toxic loans. Poor GOP dupe...Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
He said 1 trillion dollars in bad Fannie and Freddie mortgages.
By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
DERP!
.
Let me explain something to you:
The two major loans banks give are prime loans and subprime loans.
Prime loans are when the bank lends you their own money. To get such a loan, you need outstanding credit, a history of working with the same company for some time, and a reasonable down payment.
Subprime loans are for people that can't get prime loans because of the requirements. They were created at the end of the Carter administration. They are also loans that will be sold off in the market.
So the banks make money from the transaction, sell them off to other people, and because they are less than standard loans, the are usually given on the terms of an Adjustable Rate Mortgage, or ARM for short.
With an ARM, interest rates are subject to rise. When you get a loan for 2% or 3%, there is only one way they can go, and that is up. Because banks were pressured by the government to make loans, they used subprime.
So what you had are people that were not credit worthy getting loans, and when the interest rates increased, they were no longer able to repay those loans; the banks foreclosed. And that's the story behind the housing bubble and crash.
Again, it was after 2002 3 that the toxic ones were sold and it wasn't Fannie and Freddie to later under pressure from George W bush.Funny how Fannie and Freddie Etc found worthy subprime candidates, while after 2002 the GOP non-regulated Independents found millions of toxic people... Blaming it on Fannie and Freddie is a joke. they lost two-thirds of their 70% of the market when the scam took over in 2002. great job GOP and silly dupes...That is what is known as misleading propaganda, dupe. We're trying to talk about toxic loans and you're talking about subprime loans, and up until 2002 at that. That was when Fannie and Freddie lost 2/3 of their share of the market 2 independent Financial institutions that caused a world depression with their toxic loans. Poor GOP dupe...Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...
He said 1 trillion dollars in bad Fannie and Freddie mortgages.
By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans.
Hey, Barney Frank: The Government Did Cause the Housing Crisis
DERP!
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Let me explain something to you:
The two major loans banks give are prime loans and subprime loans.
Prime loans are when the bank lends you their own money. To get such a loan, you need outstanding credit, a history of working with the same company for some time, and a reasonable down payment.
Subprime loans are for people that can't get prime loans because of the requirements. They were created at the end of the Carter administration. They are also loans that will be sold off in the market.
So the banks make money from the transaction, sell them off to other people, and because they are less than standard loans, the are usually given on the terms of an Adjustable Rate Mortgage, or ARM for short.
With an ARM, interest rates are subject to rise. When you get a loan for 2% or 3%, there is only one way they can go, and that is up. Because banks were pressured by the government to make loans, they used subprime.
So what you had are people that were not credit worthy getting loans, and when the interest rates increased, they were no longer able to repay those loans; the banks foreclosed. And that's the story behind the housing bubble and crash.
Let me fill you in on a little something here: F and F has a boss, and that boss is HUD. HUD creates the lending guidelines that F and F has to enforce.
When Andrew Cuomo was appointed by Clinton to be the head of HUD, he was not only the youngest person to be appointed, but the most inexperienced as well.
It was Cuomo who created the 0% down and no credit checks to support Clinton's efforts to increase minority home ownership. If you clicked on any of my links, you will see those were written before the housing crash, and that F and F diminished their requirements for loans.
It didn't have an immediate effect because the economy was going downhill; especially after 911. But when Bush got the economy going again, so did the housing market.
Bush and the Republicans are to blame--but only partly because they didn't start all this. This was started by Clinton. They were both at fault for the housing bubble and crash.
Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.
Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
It probably probably had to be done to save the economy. And another trillion from Obama in the stimulus which worked barely. Another corrupt GOP World depression great job scumbags... And dupes.Look you God damn idiots LOL. He said 1 trillion dollars in bad Fannie and Freddie mortgages. He's wrong about that too 1 trillion in all loans...Link to that one trillion BS? Tarp was Bush and Paulson bailing out Wall Street and some financial institutions. What is that but paying them back for their toxic b*******?Government never forced any bank to make a loan to a person that could not show they could pay it back. NEVER,
Redlining was proven to be racist.
The toxic asset buy back was an effort to stop a total financial meltdown.
F & F participated but the effort to issue Mortgage Based Securities was lead by private financial institutions.
But hey, blame Democrats. The typical chickenshit whiner response. Who basically ran Congress from 1995 thru 2006? Which party deregulated the banking field?
You panty waists should man up & admit your party's blame in the Bush Recession.
The toxic asset buy back was an effort to stop a total financial meltdown.
TARP wasn't used to buy toxic assets, despite the name.
F & F participated
To the tune of over $1 trillion in crappy mortgages.
Which party deregulated the banking field?
Deregulated? When did that happen?
Forcing them to make loans to weak borrowers doesn't count as deregulation, FYI.
TARP was voted on by Congress including Obama voted for it. Bush signed it. The worst bill ever. The Democrats could have stopped it but, they chose not to, in fact that passed more bailout money later. Yep and It was a trillion. Trying to lie again?
Funny how you didn’t include all the Democrats, like Obama voted for TARP. Looks like your party as much about the rich as the other guys, hater dupe!
