President Trump CRUSHES Obama in First Four Months Comparison

[JonKoch]

Yeah right dude

I sure am right!

No you're not. After what Bush and the GOP left Obama, Obama was a miracle worker.

Retard alert the Republicans did not control Congress for 4 of the years Bush was President and the 4 they did control only had 51 Senators. Congress was controlled for the 2years before Obama took officer by democrats. Democrats that refused to do anything about the coming housing crash, in fact just a month or so before the big Crash they were on national TV explaining that the Housing market was sound and the only danger was to listen to Bush as he ask for more control over the market.

"Democrats that refused to do anything about the coming housing crash, in fact just a month or so before the big Crash they were on national TV explaining that the Housing market was sound and the only danger was to listen to Bush as he ask for more control over the market"

LMAROG

"The Presidents Working Group's March (2008) policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007"

DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!



Testimony from W's Treasury Secretary John Snow to the REPUBLICAN CONGRESS concerning the 'regulation of the GSEs Sept 2003



"Mr. Frank: ...Are we in a crisis now with these entities?

Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it"

- THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES


Dubya REGULATOR failure

The Two Documents Everyone Should Read to Better Understand the Crisis

The FBI has been warning of an "epidemic" of mortgage fraud since September 2004. It also reports that lenders initiated 80% of these frauds.1 When the person that controls a seemingly legitimate business or government agency uses it as a "weapon" to defraud we categorize it as a "control fraud"

The Two Documents Everyone Should Read to Better Understand the Crisis | HuffPost

 

[JonKoch]

this time in 2009, unemployed men were jumping to thier deaths from thier second story home windows

Obama inherited a shit show from W . Trump was given the keys to a Cadillac.

What a crock of SHIT, oshitass inherited a nearly won war in Iraq, a rapidly expanding area of control in the middle east, an already UP and working department of homeland security, AND a recession caused by HE and HIS FRIENDS intimidation, and extortion of the mortgage loan industry to force them to make high risk loans to unqualified buyers. He also inherited a much safer and more stable country that what he passed to Trump. Lies are all you liberal ants have to post and they are all worn out because they have been disproved a million times with FACTS liltimmyboohoo.

FORCED TO LOAN TO PEOPLE? LMAOROG


"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN’T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them




Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)

Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals (2004)
Lowering Investment bank's capital requirements, Net Capital rule (2004)
Reversing the Clinton rule that restricted GSEs purchases of subprime loans (2004)
Lowering down payment requirements to 0% (2004)
Forcing GSEs to spend an additional $440 billion in the secondary markets (2003)
Giving away 40,000 free down payments (2004)
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING (2003)


But the biggest policy was regulators not enforcing lending standards.

 

[JonKoch]

this time in 2009, unemployed men were jumping to thier deaths from thier second story home windows

Obama inherited a shit show from W . Trump was given the keys to a Cadillac.

What a crock of SHIT, oshitass inherited a nearly won war in Iraq, a rapidly expanding area of control in the middle east, an already UP and working department of homeland security, AND a recession caused by HE and HIS FRIENDS intimidation, and extortion of the mortgage loan industry to force them to make high risk loans to unqualified buyers. He also inherited a much safer and more stable country that what he passed to Trump. Lies are all you liberal ants have to post and they are all worn out because they have been disproved a million times with FACTS liltimmyboohoo.

THE OLD "POOR PEOPLE" CAUSED THE BANKSTERS TO BE FORCED TO GIVE OUT LOANS HUH? LOL


HINT THE BANKSTERS LOBBIED FOR YEARS TO DROP LENDING STANDARDS, WHY???


OH RIGHT BECAUSE THEY NO LONGER NEEDED TO "HOLD THE PAPER" AND JUST CREATED SECURITIZATION MARKETS TO SELL THOSE "AAA" RATED PAPERS



"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them




DUBYA AND COMPANY LEFT A SECURE M/E? SERIOUSLY? WAS THIS BEFORE OR AFTER THEY FOUND THOSE WMD'S??? WINNING IN IRAQ AND AFGHANISTAN? LOL

 

[Dot Com]

Looking back over the past 4 months vs the last 8 years, it seems as though there was a strange vacancy in the White House which has now been filled by a great man. The facts of the last 4 months progress is clear, we are truly headed to making America great again.



www.thegatewaypundit.com/2017/05/draft-presidents-trump-vs-obama-first-4-month-comparison/

if you mean he's good at signing executive orders and golfing then yes, he has obama beat

 

[Lumpy 1]

this time in 2009, unemployed men were jumping to thier deaths from thier second story home windows

Obama inherited a shit show from W . Trump was given the keys to a Cadillac.

What a crock of SHIT, oshitass inherited a nearly won war in Iraq, a rapidly expanding area of control in the middle east, an already UP and working department of homeland security, AND a recession caused by HE and HIS FRIENDS intimidation, and extortion of the mortgage loan industry to force them to make high risk loans to unqualified buyers. He also inherited a much safer and more stable country that what he passed to Trump. Lies are all you liberal ants have to post and they are all worn out because they have been disproved a million times with FACTS liltimmyboohoo.

THE OLD "POOR PEOPLE" CAUSED THE BANKSTERS TO BE FORCED TO GIVE OUT LOANS HUH? LOL


HINT THE BANKSTERS LOBBIED FOR YEARS TO DROP LENDING STANDARDS, WHY???


OH RIGHT BECAUSE THEY NO LONGER NEEDED TO "HOLD THE PAPER" AND JUST CREATED SECURITIZATION MARKETS TO SELL THOSE "AAA" RATED PAPERS



"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them




DUBYA AND COMPANY LEFT A SECURE M/E? SERIOUSLY? WAS THIS BEFORE OR AFTER THEY FOUND THOSE WMD'S??? WINNING IN IRAQ AND AFGHANISTAN? LOL

Wow .. you're starting at the USMB with a ka-boom, welcome and have some fun pissing in the wind..

I kinda wondered about your opinion on this link..


25 People to Blame for the Financial Crisis - TIME

 

[JonKoch]

this time in 2009, unemployed men were jumping to thier deaths from thier second story home windows

Obama inherited a shit show from W . Trump was given the keys to a Cadillac.

What a crock of SHIT, oshitass inherited a nearly won war in Iraq, a rapidly expanding area of control in the middle east, an already UP and working department of homeland security, AND a recession caused by HE and HIS FRIENDS intimidation, and extortion of the mortgage loan industry to force them to make high risk loans to unqualified buyers. He also inherited a much safer and more stable country that what he passed to Trump. Lies are all you liberal ants have to post and they are all worn out because they have been disproved a million times with FACTS liltimmyboohoo.

THE OLD "POOR PEOPLE" CAUSED THE BANKSTERS TO BE FORCED TO GIVE OUT LOANS HUH? LOL


HINT THE BANKSTERS LOBBIED FOR YEARS TO DROP LENDING STANDARDS, WHY???


OH RIGHT BECAUSE THEY NO LONGER NEEDED TO "HOLD THE PAPER" AND JUST CREATED SECURITIZATION MARKETS TO SELL THOSE "AAA" RATED PAPERS



"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them




DUBYA AND COMPANY LEFT A SECURE M/E? SERIOUSLY? WAS THIS BEFORE OR AFTER THEY FOUND THOSE WMD'S??? WINNING IN IRAQ AND AFGHANISTAN? LOL

Wow .. you're starting at the USMB with a ka-boom, welcome and have some fun pissing in the wind..

I kinda wondered about your opinion on this link..


25 People to Blame for the Financial Crisis - TIME

Times BS "list" without context or critical thinking, mostly debunked here


FACTS on Dubya's great recession

(my old account, got locked out of Email so started new)

FACTS on Dubya's great recession



Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush;s President's Working Group on Financial Markets March 2008

"The Presidents Working Group;s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007."

 

[Lumpy 1]

this time in 2009, unemployed men were jumping to thier deaths from thier second story home windows

Obama inherited a shit show from W . Trump was given the keys to a Cadillac.

What a crock of SHIT, oshitass inherited a nearly won war in Iraq, a rapidly expanding area of control in the middle east, an already UP and working department of homeland security, AND a recession caused by HE and HIS FRIENDS intimidation, and extortion of the mortgage loan industry to force them to make high risk loans to unqualified buyers. He also inherited a much safer and more stable country that what he passed to Trump. Lies are all you liberal ants have to post and they are all worn out because they have been disproved a million times with FACTS liltimmyboohoo.

THE OLD "POOR PEOPLE" CAUSED THE BANKSTERS TO BE FORCED TO GIVE OUT LOANS HUH? LOL


HINT THE BANKSTERS LOBBIED FOR YEARS TO DROP LENDING STANDARDS, WHY???


OH RIGHT BECAUSE THEY NO LONGER NEEDED TO "HOLD THE PAPER" AND JUST CREATED SECURITIZATION MARKETS TO SELL THOSE "AAA" RATED PAPERS



"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them




DUBYA AND COMPANY LEFT A SECURE M/E? SERIOUSLY? WAS THIS BEFORE OR AFTER THEY FOUND THOSE WMD'S??? WINNING IN IRAQ AND AFGHANISTAN? LOL

Wow .. you're starting at the USMB with a ka-boom, welcome and have some fun pissing in the wind..

I kinda wondered about your opinion on this link..


25 People to Blame for the Financial Crisis - TIME

Times BS "list" without context or critical thinking, mostly debunked here


FACTS on Dubya's great recession

(my old account, got locked out of Email so started new)

FACTS on Dubya's great recession



Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush;s President's Working Group on Financial Markets March 2008

"The Presidents Working Group;s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007."

Your quoting from the Huff and Puff and a link that doesn't work, then you expect to be taken seriously and this Dad2three your quoting is a brain dead partisan hack

 

[JonKoch]

Obama inherited a shit show from W . Trump was given the keys to a Cadillac.

What a crock of SHIT, oshitass inherited a nearly won war in Iraq, a rapidly expanding area of control in the middle east, an already UP and working department of homeland security, AND a recession caused by HE and HIS FRIENDS intimidation, and extortion of the mortgage loan industry to force them to make high risk loans to unqualified buyers. He also inherited a much safer and more stable country that what he passed to Trump. Lies are all you liberal ants have to post and they are all worn out because they have been disproved a million times with FACTS liltimmyboohoo.

THE OLD "POOR PEOPLE" CAUSED THE BANKSTERS TO BE FORCED TO GIVE OUT LOANS HUH? LOL


HINT THE BANKSTERS LOBBIED FOR YEARS TO DROP LENDING STANDARDS, WHY???


OH RIGHT BECAUSE THEY NO LONGER NEEDED TO "HOLD THE PAPER" AND JUST CREATED SECURITIZATION MARKETS TO SELL THOSE "AAA" RATED PAPERS



"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them




DUBYA AND COMPANY LEFT A SECURE M/E? SERIOUSLY? WAS THIS BEFORE OR AFTER THEY FOUND THOSE WMD'S??? WINNING IN IRAQ AND AFGHANISTAN? LOL

Wow .. you're starting at the USMB with a ka-boom, welcome and have some fun pissing in the wind..

I kinda wondered about your opinion on this link..


25 People to Blame for the Financial Crisis - TIME

Times BS "list" without context or critical thinking, mostly debunked here


FACTS on Dubya's great recession

(my old account, got locked out of Email so started new)

FACTS on Dubya's great recession



Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush;s President's Working Group on Financial Markets March 2008

"The Presidents Working Group;s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007."

Your quoting from the Huff and Puff and a link that doesn't work, then you expect to be taken seriously...

LMAOROG, And you gave me a Time "list"????


ONE GUY WAS IN CHARGE OF REGULATORS AND PUSHING HIS "HOME OWNERSHIP SOCIETY" AS ALL 50 STATES WERE SUING HIM TO REGULATE THE PREDATORY LENDERS, HIS NAME WAS DUBYA, IF ALL YOU HAVE IS AD HOMS I GUESS YOU'RE LOST

HINT MY LINKS SHOW FEDERAL RESERVE, HUD, NYTIMES, WAPO, ETC,

DOZENS OF CREDIBLE LINKS!!!

"There's no question about it. Wall Street got drunk. It got drunk and now it's got a hangover. The question is, how long will it sober up and not try to do all these fancy financial instruments?" DUBYA

AND THE LINK WORKS

FACTS on Dubya's great recession

FACTS on Dubya's great recession

 

[frigidweirdo]

Yeah right dude

I sure am right!

You're sure that you're far right maybe.

 

[Lumpy 1]

What a crock of SHIT, oshitass inherited a nearly won war in Iraq, a rapidly expanding area of control in the middle east, an already UP and working department of homeland security, AND a recession caused by HE and HIS FRIENDS intimidation, and extortion of the mortgage loan industry to force them to make high risk loans to unqualified buyers. He also inherited a much safer and more stable country that what he passed to Trump. Lies are all you liberal ants have to post and they are all worn out because they have been disproved a million times with FACTS liltimmyboohoo.

THE OLD "POOR PEOPLE" CAUSED THE BANKSTERS TO BE FORCED TO GIVE OUT LOANS HUH? LOL


HINT THE BANKSTERS LOBBIED FOR YEARS TO DROP LENDING STANDARDS, WHY???


OH RIGHT BECAUSE THEY NO LONGER NEEDED TO "HOLD THE PAPER" AND JUST CREATED SECURITIZATION MARKETS TO SELL THOSE "AAA" RATED PAPERS



"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them




DUBYA AND COMPANY LEFT A SECURE M/E? SERIOUSLY? WAS THIS BEFORE OR AFTER THEY FOUND THOSE WMD'S??? WINNING IN IRAQ AND AFGHANISTAN? LOL

Wow .. you're starting at the USMB with a ka-boom, welcome and have some fun pissing in the wind..

I kinda wondered about your opinion on this link..


25 People to Blame for the Financial Crisis - TIME

Times BS "list" without context or critical thinking, mostly debunked here


FACTS on Dubya's great recession

(my old account, got locked out of Email so started new)

FACTS on Dubya's great recession



Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush;s President's Working Group on Financial Markets March 2008

"The Presidents Working Group;s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007."

Your quoting from the Huff and Puff and a link that doesn't work, then you expect to be taken seriously...

LMAOROG, And you gave me a Time "list"????


ONE GUY WAS IN CHARGE OF REGULATORS AND PUSHING HIS "HOME OWNERSHIP SOCIETY" AS ALL 50 STATES WERE SUING HIM TO REGULATE THE PREDATORY LENDERS, HIS NAME WAS DUBYA, IF ALL YOU HAVE IS AD HOMS I GUESS YOU'RE LOST

HINT MY LINKS SHOW FEDERAL RESERVE, HUD, NYTIMES, WAPO, ETC,

DOZENS OF CREDIBLE LINKS!!!

"There's no question about it. Wall Street got drunk. It got drunk and now it's got a hangover. The question is, how long will it sober up and not try to do all these fancy financial instruments?" DUBYA

AND THE LINK WORKS

FACTS on Dubya's great recession

FACTS on Dubya's great recession

Are you aware of the Executive, Legislative and Judicial Branches of the U.S. Government and what their responsibilities are?

 

[WheelieAddict]

Hilarious! Republicans are mentally ill.

 

[Lumpy 1]

 

[JonKoch]

THE OLD "POOR PEOPLE" CAUSED THE BANKSTERS TO BE FORCED TO GIVE OUT LOANS HUH? LOL


HINT THE BANKSTERS LOBBIED FOR YEARS TO DROP LENDING STANDARDS, WHY???


OH RIGHT BECAUSE THEY NO LONGER NEEDED TO "HOLD THE PAPER" AND JUST CREATED SECURITIZATION MARKETS TO SELL THOSE "AAA" RATED PAPERS



"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them




DUBYA AND COMPANY LEFT A SECURE M/E? SERIOUSLY? WAS THIS BEFORE OR AFTER THEY FOUND THOSE WMD'S??? WINNING IN IRAQ AND AFGHANISTAN? LOL

Wow .. you're starting at the USMB with a ka-boom, welcome and have some fun pissing in the wind..

I kinda wondered about your opinion on this link..


25 People to Blame for the Financial Crisis - TIME

Times BS "list" without context or critical thinking, mostly debunked here


FACTS on Dubya's great recession

(my old account, got locked out of Email so started new)

FACTS on Dubya's great recession



Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush;s President's Working Group on Financial Markets March 2008

"The Presidents Working Group;s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007."

Your quoting from the Huff and Puff and a link that doesn't work, then you expect to be taken seriously...

LMAOROG, And you gave me a Time "list"????


ONE GUY WAS IN CHARGE OF REGULATORS AND PUSHING HIS "HOME OWNERSHIP SOCIETY" AS ALL 50 STATES WERE SUING HIM TO REGULATE THE PREDATORY LENDERS, HIS NAME WAS DUBYA, IF ALL YOU HAVE IS AD HOMS I GUESS YOU'RE LOST

HINT MY LINKS SHOW FEDERAL RESERVE, HUD, NYTIMES, WAPO, ETC,

DOZENS OF CREDIBLE LINKS!!!

"There's no question about it. Wall Street got drunk. It got drunk and now it's got a hangover. The question is, how long will it sober up and not try to do all these fancy financial instruments?" DUBYA

AND THE LINK WORKS

FACTS on Dubya's great recession

FACTS on Dubya's great recession

Are you aware of the Executive, Legislative and Judicial Branches of the U.S. Government and what their responsibilities are?

Yeah, who has DOJ, HUD, OCC, SEC, FBI, ETC AGAIN?

The entire right wing narrative is based on myths and lies.


They tend to look at things in a very simplistic way and try to put it all in terms that school children can understand. This is bad. You cannot take something very complex and look at it in a very simplistic way. You will always miss many extremely important variables that would completely change your opinion on the matter.



The Bush Mortgage Bubble wasn't about home prices. It was about banks lowering their lending standards and Bush's regulators cheering them on. That started late 2004 after Bush preempted all state laws against predatory lending (to name one of his many toxic housing policies) and his successful reelection campaign touting the strength of his housing market.


To create buyers out of unqualified buyers, banks literally stopped checking income in addition to using teaser rates and initial ARM rates to put people in homes they couldn't afford


The former Federal Reserve chairman, Alan Greenspan, has conceded that the global financial crisis has exposed a "mistake" in the free market ideology which guided his 18-year stewardship of US monetary policy.


"I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms," said Greenspan.

 

[Lumpy 1]

 

[JonKoch]

-

BARNEY? 2005? Oh right the minority member of the GOP majority House where simple majority ruled. Know what else wasn't in trouble in 2005? ALL 5 INVESTMENT BANKS THAT WENT UNDER




Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush's President’s Working Group on Financial Markets March 2008

"The Presidents Working Group's March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007."


HINT IT WASN'T A F/F PROBLEM!!!

GSE Critics Ignore Loan Performance

There is no data anywhere to cast doubt on the vastly superior loan performance of the GSEs. Year after year, decade after decade, before, during and after the housing crash, GSE loan performance has consistently been two-to-six times better than that of any other segment of the market. The numbers are irrefutable, and they show that the entire case against GSE underwriting standards, and their role in the financial crisis, is based on social stereotyping, smoke and mirrors, and little else.

...Or check out the FHFA study that compares, on an apples-to-apples basis, GSEs loan originations with those for private label securitizations. The study segments loans four ways, by ARMs-versus-fixed-rate, as well as by vintage, by FICO score and by loan-to-value ratio. In almost every one of 1800 different comparisons covering years 2001 through 2008, GSE loan performance was exponentially better. On average, GSE fixed-rate loans performed four times better, and GSE ARMs performed five times better.

Mortgage analyst Laurie Goodman estimated that private label securitizations issued during 2005-2007 incurred a loss rate of 24%, whereas the GSE loss rate for 2005-2007 vintage loans was closer to 4%.
GSE Critics Ignore Loan Performance


AGAIN

FACTS on Dubya's great recession

FACTS on Dubya's great recession

 

[JonKoch]

THE $4 BILLION ACCOUNTING SCANDAL? REALLY? LMAOROG

Q: Why would Bush's regulators let banks lower their lending standards?

A. Federal regulators at the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision work for Bush and he was pushing his Ownership Society programs that was a major and successful part of his re election campaign in 2004. And Bush's regulators not only let banks do this, they attacked state regulators trying to do their jobs. Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)

Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank's capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING


But the biggest policy was regulators not enforcing lending standards.

FACTS on Dubya's great recession

 

[JonKoch]

Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."


June 17, 2004


Builders to fight Bush's low-income plan


NEW YORK (CNN/Money) - Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday.
Home builders fight Bush's low-income housing - Jun. 17, 2004


Bush drive for home ownership fueled housing bubble


He insisted that Fannie Mae and Freddie Mac meet ambitious new goals for low-income lending.

Concerned that down payments were a barrier, Bush persuaded Congress to spend as much as $200 million a year to help first-time buyers with down payments and closing costs.

And he pushed to allow first-time buyers to qualify for government insured mortgages with no money down


Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.


FACTS on Dubya's great recession

 

[JonKoch]

Testimony from W's Treasury Secretary John Snow to the REPUBLICAN CONGRESS concerning the regulation of the GSE's 2004


Mr. (BARNEY) Frank: ...Are we in a crisis now with these entities?

Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it. (FAR FROM IT)


October 26, 2005

STATEMENT OF ADMINISTRATION POLICY

The Administration strongly believes that the housing GSEs should be focused on their core housing mission, particularly with respect to low-income Americans and first-time homebuyers. Instead, provisions of H.R. 1461 that expand mortgage purchasing authority would lessen the housing GSEs' commitment to low-income homebuyers.

George W. Bush: Statement of Administration Policy: H.R. 1461 - Federal Housing Finance Reform Act of 2005

Yes, he said he was against it because it "would lessen the housing GSEs' commitment to low-income homebuyers"


OOPS

 

[Lumpy 1]

Why do you keep quoting this Dad2three left-wing imbecile thread, it's boring me, much like this thread..

 

[JonKoch]

Why do you keep quoting this Dad2three left-wing imbecile thread, it's boring me, much like this thread..

Sorry Bubs didn't know you were brain dead, as I said that was my old thread. Sorry you'll stick to Barney Frank and the GSE's did it meme that should've died a decade ago but you righties LOVE a good lie