OK, I'll admit it, our friends on the left are correct; there IS a catch to the Trump tax cuts

[Ame®icano]

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.

All that, plus...

It's started few years before Cuomo became HUD secretary. Even during his candidacy, Clinton run on idea of using private pension funds to finance "government priorities", and when he got elected, he claim along with then HUD secretary Cisneros, that pension investments in affordable housing are "as safe as pension investments in stocks and bonds". Since that idea never took of because pension funds rejected it, they started pressuring banks into giving subprime loans.

Just as Reagan policies caused S&L crisis ($220B bailout), Clinton policies such as CRA of 1995, and TRA of 1997, and repeal of Glass-Steagall Act in late 1999, same policies continued by Bush caused last financial crisis.

Then lefties claim... "it happened under Bush", because that's all they've been told, and all they know. Yes, crash itself did happened under Bush, but cause of the crash has its roots in bad Democrat policies. Like pretty much every other Democrat policy, when in full effect, it fuck us up badly, and for a long time.

I think the Republicans Fd up with a plan that turned against them. They allowed the Clinton policies to go on so THEY could take credit for higher minority home ownership during the Bush years. They moved a little too soft a little too late. But on the other hand, if they would have come down hard and swift, the Democrats would have accused them of robbing minorities out of owning their own homes.

Clinton policy being glass-steagall repeal, which was a GOP bill... Still it took ridiculous bush regulation to give us a world depression

Here, listen for yourself how Cuomo pressured banks to make bad loans, right from the horses mouth:

Yes Democrats Ended as much as possible discrimination against worthy minorities. Then GOP scumbags on Wall Street and Regulators from K Street gave mortgages to anyone who was breathing 2003 to 2006. Great job scumbags and dupes...

Name and year of the regulations that did that.

 

[Ame®icano]

You're right the real estate bubble burst of 2008 had nothing to do with the GOP. LOL!

Nope, nobody said GOP had nothing to do with it. They have their share, but the THE fuckup was created by Democrats. In fact, EVERY fuckup since history of the US was created by the Democrats.

By the way, beside Bush being the president, who held power in Congress that year? Who about year before that? Who prevented audit of the F&F year after year after year?

 

[Papageorgio]

You're right the real estate bubble burst of 2008 had nothing to do with the GOP. LOL!

No one said that, again you are being dishonest and trying to shift blame to fit your bigotry, the only one saying only one party is to blame is YOU! You are a hater dupe that will lie to advance your agenda.

 

[francoHFW]

You're right the real estate bubble burst of 2008 had nothing to do with the GOP. LOL!

No one said that, again you are being dishonest and trying to shift blame to fit your bigotry, the only one saying only one party is to blame is YOU! You are a hater dupe that will lie to advance your agenda.

Many believe the GOP was at fault 100%. And their Pals in the independent real estate game
... At Wall Street and big oil and big health. You poor dupes. Your party blocks all kinds of laws against lobbyists, they're just in bed with the lobbyists... You don't know that, but you know every detail of many phony scandals and character assassination...

 

[francoHFW]

All that, plus...

It's started few years before Cuomo became HUD secretary. Even during his candidacy, Clinton run on idea of using private pension funds to finance "government priorities", and when he got elected, he claim along with then HUD secretary Cisneros, that pension investments in affordable housing are "as safe as pension investments in stocks and bonds". Since that idea never took of because pension funds rejected it, they started pressuring banks into giving subprime loans.

Just as Reagan policies caused S&L crisis ($220B bailout), Clinton policies such as CRA of 1995, and TRA of 1997, and repeal of Glass-Steagall Act in late 1999, same policies continued by Bush caused last financial crisis.

Then lefties claim... "it happened under Bush", because that's all they've been told, and all they know. Yes, crash itself did happened under Bush, but cause of the crash has its roots in bad Democrat policies. Like pretty much every other Democrat policy, when in full effect, it fuck us up badly, and for a long time.

I think the Republicans Fd up with a plan that turned against them. They allowed the Clinton policies to go on so THEY could take credit for higher minority home ownership during the Bush years. They moved a little too soft a little too late. But on the other hand, if they would have come down hard and swift, the Democrats would have accused them of robbing minorities out of owning their own homes.

Clinton policy being glass-steagall repeal, which was a GOP bill... Still it took ridiculous bush regulation to give us a world depression

Here, listen for yourself how Cuomo pressured banks to make bad loans, right from the horses mouth:

Yes Democrats Ended as much as possible discrimination against worthy minorities. Then GOP scumbags on Wall Street and Regulators from K Street gave mortgages to anyone who was breathing 2003 to 2006. Great job scumbags and dupes...

Name and year of the regulations that did that.

It was regulators and oversight people Pals of the bush... Just look at the numbers of ridiculous A+ rated crap... Read a newspaper in

 

[francoHFW]

You're right the real estate bubble burst of 2008 had nothing to do with the GOP. LOL!

Nope, nobody said GOP had nothing to do with it. They have their share, but the THE fuckup was created by Democrats. In fact, EVERY fuckup since history of the US was created by the Democrats.

By the way, beside Bush being the president, who held power in Congress that year? Who about year before that? Who prevented audit of the F&F year after year after year?

You're just saying propaganda. What the f*** anyway the toxic mortgages were produced in 2002 3 through 6... It was all over before the Democrats got in in 2007.

 

[Toddsterpatriot]

You're right the real estate bubble burst of 2008 had nothing to do with the GOP. LOL!

No one said that, again you are being dishonest and trying to shift blame to fit your bigotry, the only one saying only one party is to blame is YOU! You are a hater dupe that will lie to advance your agenda.

Many believe the GOP was at fault 100%. And their Pals in the independent real estate game
... At Wall Street and big oil and big health. You poor dupes. Your party blocks all kinds of laws against lobbyists, they're just in bed with the lobbyists... You don't know that, but you know every detail of many phony scandals and character assassination...

Many believe the GOP was at fault 100%.

But enough about idiots like you......

 

[Markle]

So if an employer chooses to adopt his employees, they shouldn't pay any taxes?

 

[Markle]

I'm supposed to do your research for you now?

I gave you the answer. Why did you not bother to read it?

Allow me to post it again for your convenience.

Share with us how many people earn $10 MILLION per year.

That would place someone in the top .1% of all income tax returns filed. One-tenth of one percent or 140 tax returns. How much of a difference does that make in our revenues?

Summary of the Latest Federal Income Tax Data, 2016 Update - Tax Foundation

 

[Markle]

You can split hairs all you want about it being a business bankruptcy. It's still a bankruptcy of his business.

No splitting hairs, I simply post the truth.

Do feel this way about everyone or just the massively successful President Donald Trump?

Do you think everyone who has a business which is forced into bankruptcy should be forced to make good on that money with their personal funds?

Do you believe the Constitution should be amended? If not, you're lying too.

 

[Markle]

Wonderful, but it doesn't make him any less of a deadbeat that benefited from and received a handout from the government. A bigger handout than the vast majority of the welfare recipients out there I suspect.

How did he get a handout from the government? Please be specific. Where, when, how much and how.

 

[Ray From Cleveland]

It was regulators and oversight people Pals of the bush... Just look at the numbers of ridiculous A+ rated crap... Read a newspaper in

Why don't you read a newspaper? The AAA ratings were mostly given out by Moody's which is not affiliated with Republicans or Bush in any way. Standard and Poor's was the second culprit.

 

[francoHFW]

You're right the real estate bubble burst of 2008 had nothing to do with the GOP. LOL!

No one said that, again you are being dishonest and trying to shift blame to fit your bigotry, the only one saying only one party is to blame is YOU! You are a hater dupe that will lie to advance your agenda.

You're right the real estate bubble burst of 2008 had nothing to do with the GOP. LOL!

No one said that, again you are being dishonest and trying to shift blame to fit your bigotry, the only one saying only one party is to blame is YOU! You are a hater dupe that will lie to advance your agenda.

Many believe the GOP was at fault 100%. And their Pals in the independent real estate game
... At Wall Street and big oil and big health. You poor dupes. Your party blocks all kinds of laws against lobbyists, they're just in bed with the lobbyists... You don't know that, but you know every detail of many phony scandals and character assassination...

Many believe the GOP was at fault 100%.

But enough about idiots like you......

Funny isn't it how all the world depressions are caused by the GOP? Every time they're in for 8 years there's a depression based on corruption and just being stupid...

 

[Markle]

Toddsterpatriot addressing the housing/mortgage/financial collapse.

Many believe the GOP was at fault 100%.

But enough about idiots like you......

Childish. NO ONE believes the GOP was at fault 100%. The GOP's fault was in not fighting Democrats who were Hell bent to make it easy to buy a home regardless of income, regardless of credit, regardless of savings.

Allow me:

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
HUD to Fight Discrimination, Boost Minority Homeownership and Work With Urban League to Further Goals - Free Online Library

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
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0

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 -
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0

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
http://online.wsj.com/news/articles/SB122161010874845645

Barney Frank in 2005: What Housing Bubble?


Maxine Waters & Barney Frank - Then Vs. Now -

Embedded media from this media site is no longer available

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.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.

 

[francoHFW]

It was regulators and oversight people Pals of the bush... Just look at the numbers of ridiculous A+ rated crap... Read a newspaper in

Why don't you read a newspaper? The AAA ratings were mostly given out by Moody's which is not affiliated with Republicans or Bush in any way. Standard and Poor's was the second culprit.

Funny how every time the Republicans are in for 8 years they have a depression corrupt depression? Are you pleased that you're voting to make lobbyists powerful in DC?

 

[francoHFW]

Toddsterpatriot addressing the housing/mortgage/financial collapse.

Many believe the GOP was at fault 100%.

But enough about idiots like you......

Childish. NO ONE believes the GOP was at fault 100%. The GOP's fault was in not fighting Democrats who were Hell bent to make it easy to buy a home regardless of income, regardless of credit, regardless of savings.

Allow me:

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
HUD to Fight Discrimination, Boost Minority Homeownership and Work With Urban League to Further Goals - Free Online Library

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
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0

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 -
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0

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
http://online.wsj.com/news/articles/SB122161010874845645

Barney Frank in 2005: What Housing Bubble?


Maxine Waters & Barney Frank - Then Vs. Now -

Embedded media from this media site is no longer available

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.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.

The repeal of the glass-steagall Act was a GOP bill a GOP idea and they got Bill to sign it. Bill was a economic conservative idiot.

 

[francoHFW]

Toddsterpatriot addressing the housing/mortgage/financial collapse.

Many believe the GOP was at fault 100%.

But enough about idiots like you......

Childish. NO ONE believes the GOP was at fault 100%. The GOP's fault was in not fighting Democrats who were Hell bent to make it easy to buy a home regardless of income, regardless of credit, regardless of savings.

Allow me:

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
HUD to Fight Discrimination, Boost Minority Homeownership and Work With Urban League to Further Goals - Free Online Library

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
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0

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 -
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0

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
http://online.wsj.com/news/articles/SB122161010874845645

Barney Frank in 2005: What Housing Bubble?


Maxine Waters & Barney Frank - Then Vs. Now -

Embedded media from this media site is no longer available

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.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.

Thank you for the incredible pile of crap... Fannie and Freddie lost two-thirds of their share of the market in 2002 to 2003 when the independence financial institutions and Friends of George W and the bushies took over regulation of the market and destroyed it with their buddies... Republicans are always trying to f*** with Fannie and Freddie which has worked very well until the idiots of the scumbag GOP and You dupes got going...

 

[francoHFW]

Toddsterpatriot addressing the housing/mortgage/financial collapse.

Many believe the GOP was at fault 100%.

But enough about idiots like you......

Childish. NO ONE believes the GOP was at fault 100%. The GOP's fault was in not fighting Democrats who were Hell bent to make it easy to buy a home regardless of income, regardless of credit, regardless of savings.

Allow me:

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
HUD to Fight Discrimination, Boost Minority Homeownership and Work With Urban League to Further Goals - Free Online Library

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
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0

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 -
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0

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
http://online.wsj.com/news/articles/SB122161010874845645

Barney Frank in 2005: What Housing Bubble?


Maxine Waters & Barney Frank - Then Vs. Now -

Embedded media from this media site is no longer available

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.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.

Thank you for the incredible pile of crap... Fannie and Freddie lost two-thirds of their share of the market in 2000 to 2003 when the independence financial institutions and Friends of George W and the bushies took over regulation of the market and destroyed it with their buddies... Republicans are always trying to f*** with Fannie and Freddie which has worked very well until the idiots of the scumbag GOP and You dupes got going...

Are you happy to be voting for lobbyists and their power in Washington?

 

[francoHFW]

You actually have to work and make enough money to pay taxes to actually benefit.

That godam Trump and the evil republicans running the government fuck the little guy at every turn...

Just wait. You'll probably lose your Cuts in 2025... And the rich get richer 4 45 years...

 

[GWV5903]

Anyway, it's pointless debating income tax with you idiots when you don't even know what income is. We have this idiot, Ray, who can't figure out what "income" is:

How about if you go for a walk and find money on the sidewalk and pick it up?

Why would that be taxable?

I didn't ask you if it was taxable, I asked you if it was income. You're the expert on the definition of "income," right? You tell me. Is it income?

Income is defined by the IRS and most importantly, by if it is taxable.

No, I don't think it's income. Even if the IRS said it was, who in the world would report finding cash???

The IRS did say so. And so did the courts.

Cesarini v. United States - Wikipedia

Between that and alimony, it sounds like you have no clue WTF you're talking about with your "capital or labor" bullshit. Those are just examples, as the definition indicates with its lack of commas. Even if you cherrypicked one definition of "income" from some dictionary that only listed labor and capital, it would just be cherrypicking. Everyone knows that "income" is basically "that which comes in" and generally wealth "comes in" when it changes hands/title. Just look at the damned word!

Followed by this genius who can't figure out that taxing inheritance as regular income to the recipient (the person getting the income) wouldn't tax an individual "multiply times" on the same money:

Did I say all those that inherit money are spoiled rich deadbeats? No, but enough are and there's no reason to not tax inheritance.

Any Inheritance Tax that is imposed is a minimum of Double Taxation, in other words it's called stealing...

Money generally gets taxed by income tax whenever it changes hands, like if you use your taxed wages to buy a bagel. The bagel salesman pays tax on his profit. Is that stealing, too?

If I leave my wife, children, niece or nephew what I have already earned, yes it's Double Taxation and it's stealing. If I am buying a good or services they are taxed, the difference is simple, I earned it and I am giving it to whom ever I want, I am not buying something. The Federal Government, State or Local has no business taxing an individual multiply times. Furthermore if it is such a just tax why not attach it to all monies instead of a select amount and higher?

And of course this jackass, who thinks income is only what you get from work or investments:

If you GET money from inheritance, it is income, just exempted from tax. Don't be an idiot.

I told him the same, don't be like bgrouse.

Someone said Trump got rich by working.

in·come
ˈinˌkəm/
noun

1. money received, for work or through investments.

Got it?

Not at all, what the real issue is, you believe the Feds can tax someones inheritance, again and again and again and again because they succeeded financially and you think its not fair they have it and you don't, period, that's the simple truth you're not willing to admit. Instead of a civil debate you resort to calling anyone who doesn't agree with you an Idiot, what it says is very clear, you're not very happy with your own failures...

As for Income Taxes / Payroll Taxes (stay with me here, you have proven beyond a shadow of a doubt this is were you get lost) I am in favor of a Flat Tax, everyone contributes, no questions about it.

These are 2 totally different issues, act like a human and not a Civil Servant or worse a Democrat...

The DNC is now the Communist Party of America...