President Trump CRUSHES Obama in First Four Months Comparison

[Markle]

I'm wondering which one of you is dumber, pretty sure it's the new guy.

"In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups."

Who was president in 1999? Why William Jefferson Clinton, of course.

Bush expounded on the fail that Clinton initiated. Their plays came from the

same book, baby.

Fannie Mae Eases Credit To Aid Mortgage Lending

You're conflating those loans with the toxic subprime loans that sank the economy; and you've ignoring Bush's explosion on the backs of the GSE's...

Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to "explor(e) the viability of equity assurance products to protect home values in economically distressed areas."​

No, I'm establishing that Clinton laid the (shaky) foundation that Bush took to the next (idiotic) level.

Daddy Bush's policies were equally as bad.


Things would actually be worse if Obama's policies were in lockstep with Bush-Clinton-Bush policies; I do believe McCain's would have been.


Thank God Obama did it a bit different.

And you failed because that doesn't address the actual problem which was the toxic loans that cratered the economy. CRA loans, for example, comprised only about 6% of the higher toxic loans. They made up zero percent of commercial toxic loans. That wasn't the problem.

mmhmm. Right. In case you didn't notice, it wasn't commercial loans that crashed the housing market.

Commercial toxic loans contributed. The toxic loans, though primarily in the residential markets, were not contained solely to those markets.

You'd scratch your own eyes out before you'd ever admit to being wrong about anything. Sad.

April 3, 1998. After announcing billions in fines via CRA Andrew Cuomo is bold in pride that CRA would be abused to force banks to give bad loans.


The Democrats and Obama caused the financial crisis of 08 by supporting Fannie Mae and Freddie Mac

Embedded media from this media site is no longer available

Don't Regulate Fannie Mae or Freddy Mac [Franklin Raines was fined and Fannie Mae fined $400 million]


UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans
UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans - Media Circus | Media Circus

 

[JonKoch]

Weird why was a "stimulus" (40% tax cuts BTW) needed after 8 years of Dubya/GOP "job creator" policies?

PLEASE tell me more?


Economists Agree: The Stimulus Worked

“The stimulus worked” is the overwhelming conclusion of a panel of elite economists surveyed as part of the University of Chicago’s (THAT FAUX ECONOMIC PLACE) IGM Economic Experts Panel. The survey asked whether the unemployment rate at the end of 2010 was lower than it would have been because of the U.S. government’s 2009 fiscal stimulus act. Out of the 37 panelists who responded, 36 agreed, an even better response than an identical 2012 survey.

Economists Agree: The Stimulus Worked | Moody's Analytics Economy.com

It wasn't

Yes, Clinton and Bush crashed the economy, Bigly.

CLINTON???? LOL

The "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," the President's Working Group on Financial Markets MARCH 2008

You mean after 8 years of Dubya/GOP "job creator" policies? Why was THAT necessary?

Hint the US was in the process of losing the second 4+ million PRIVATE sector jobs that Dubya/GOP "job creator" policies allowed to be propped up by their "home ownership society" ponzi scheme where US household debt doubled under Dubya

Don't worry as soon as that 'job killer" Obamacares passed in March 2010 the jobs picture turned around

You're spinning like The Exorcist girl over there.



I've seen the thousands of acres of abandoned sorghum fields perpetrated by

Obama's "stimulus".

The used car market is self-evident proof.

LOLOL

To rightards, posting a chart private sector employment is ... "spinning."

I'm wondering which one of you is dumber, pretty sure it's the new guy.


Fannie Mae Eases Credit To Aid Mortgage Lending

WEIRD YOU KLOWNS STILL HOLD ONTO THE FANNIE/FREDDIE DID IT MEME AFTER IT'S BEEN LONG DEBUNKED!

Yeah, Clinton had Fannie do more loans? AND?

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."



Q Did the Community Reinvestment Act under Carter/Clinton caused it?


A "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "

ROOTED IN POOR PERFORMANCE LOANS MADE 2004-2007??? BUT, BUT???



http://www.federalreserve.gov/newsevents/speech/20081203_analysis.pd


"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."

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. And then they sold the loan and risk to investors and GSEs clamoring for the loans. Actually banks, pension funds, investment banks and other investors clamored for them. Bush forced Freddie and Fannie to buy an additional $440 billion in mortgages in the secondary market.

MY THREAD WITH DOZENS OF CREDIBLE LINKS. CLINTON HUH? LOL NEXT YOU'LL BRING OUT AN OUT OF CONTEXT VID OF BARNEY FRANK

FACTS on Dubya's great recession

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.



GSE Critics Ignore Loan Performance

That pretty much says what I said, and outs you as a Pogo or Dad2three sock.

PRETTY MUCH SAYS WHAT YOU SAID???? SERIOUSLY?? LOL

Dubya's own working group AND the Federal Reserve says the time frame was 2004-2007, why did it take Clinton's 1999 change to effect it? HINT, IN 2000 CLINTON CHANGED IT AGAIN

I'M DAD2THREE, LOCKED OUT OF AN OLD EMAIL ACCOUNT CAN'T RESET PASSWORD


HINT DUBYA'S/GOP's "home ownership" society where they dropped ALL oversight and fought ALL 50 states who wanted to reign in the PREDATORY LENDERS that started in late 2003 was the cause of 90% of the BUSH MORTGAGE BUBBLE/PONZI SCHEME



THIS WAS BECAUSE OF BJ BILL?

 

[g5000]

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/

Other highs not mentioned in that link:

Health insurance premiums are at all-time highs, and will continue to climb.

The federal debt is at an all-time high, and will continue to climb.

Well done, Mr. Trump!

 

[JonKoch]

You're conflating those loans with the toxic subprime loans that sank the economy; and you've ignoring Bush's explosion on the backs of the GSE's...

Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to "explor(e) the viability of equity assurance products to protect home values in economically distressed areas."​

No, I'm establishing that Clinton laid the (shaky) foundation that Bush took to the next (idiotic) level.

Daddy Bush's policies were equally as bad.


Things would actually be worse if Obama's policies were in lockstep with Bush-Clinton-Bush policies; I do believe McCain's would have been.


Thank God Obama did it a bit different.

And you failed because that doesn't address the actual problem which was the toxic loans that cratered the economy. CRA loans, for example, comprised only about 6% of the higher toxic loans. They made up zero percent of commercial toxic loans. That wasn't the problem.

mmhmm. Right. In case you didn't notice, it wasn't commercial loans that crashed the housing market.

Commercial toxic loans contributed. The toxic loans, though primarily in the residential markets, were not contained solely to those markets.

You'd scratch your own eyes out before you'd ever admit to being wrong about anything. Sad.

April 3, 1998. After announcing billions in fines via CRA Andrew Cuomo is bold in pride that CRA would be abused to force banks to give bad loans.


The Democrats and Obama caused the financial crisis of 08 by supporting Fannie Mae and Freddie Mac

Embedded media from this media site is no longer available

Don't Regulate Fannie Mae or Freddy Mac [Franklin Raines was fined and Fannie Mae fined $400 million]


UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans
UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans - Media Circus | Media Circus

LMAOROG

GSE Critics Ignore Loan Performance




Money talks. It says the only way to measure the quality of mortgage underwriting is to track loan performance delinquency and default rates, loss severity in comparison with the rest of the mortgage market. Otherwise, any analysis of the government-sponsored enterprises' role in housing finance is meaningless.

And yet, critics demanding GSE reform ignore the topic altogether. Search through any book or article promoting the thesis that the GSEs helped cause the mortgage crisis for a passage comparing GSE loan performance with the rest of the market. Almost certainly, you will come up empty-handed.

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....

GSE Critics Ignore Loan Performance




THIS WAS BECAUSE OF CHANGES IN 1998-1999??? LOL

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]

Weird why was a "stimulus" (40% tax cuts BTW) needed after 8 years of Dubya/GOP "job creator" policies?

PLEASE tell me more?


Economists Agree: The Stimulus Worked

“The stimulus worked” is the overwhelming conclusion of a panel of elite economists surveyed as part of the University of Chicago’s (THAT FAUX ECONOMIC PLACE) IGM Economic Experts Panel. The survey asked whether the unemployment rate at the end of 2010 was lower than it would have been because of the U.S. government’s 2009 fiscal stimulus act. Out of the 37 panelists who responded, 36 agreed, an even better response than an identical 2012 survey.

Economists Agree: The Stimulus Worked | Moody's Analytics Economy.com

It wasn't

Yes, Clinton and Bush crashed the economy, Bigly.

CLINTON???? LOL

The "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," the President's Working Group on Financial Markets MARCH 2008

You mean after 8 years of Dubya/GOP "job creator" policies? Why was THAT necessary?

Hint the US was in the process of losing the second 4+ million PRIVATE sector jobs that Dubya/GOP "job creator" policies allowed to be propped up by their "home ownership society" ponzi scheme where US household debt doubled under Dubya

Don't worry as soon as that 'job killer" Obamacares passed in March 2010 the jobs picture turned around

You're spinning like The Exorcist girl over there.



I've seen the thousands of acres of abandoned sorghum fields perpetrated by

Obama's "stimulus".

The used car market is self-evident proof.

LOLOL

To rightards, posting a chart private sector employment is ... "spinning."

I'm wondering which one of you is dumber, pretty sure it's the new guy.

"In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups."

Who was president in 1999? Why William Jefferson Clinton, of course.

Bush expounded on the fail that Clinton initiated. Their plays came from the

same book, baby.


Fannie Mae Eases Credit To Aid Mortgage Lending

You're conflating those loans with the toxic subprime loans that sank the economy; and you've ignoring Bush's explosion on the backs of the GSE's...

Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to "explor(e) the viability of equity assurance products to protect home values in economically distressed areas."​

No, I'm establishing that Clinton laid the (shaky) foundation that Bush took to the next (idiotic) level.

Daddy Bush's policies were equally as bad.


Things would actually be worse if Obama's policies were in lockstep with Bush-Clinton-Bush policies; I do believe McCain's would have been.


Thank God Obama did it a bit different and wasn't really a "get it done" type.

RIGHT WING BS, LOOK AT LOAN PERFORMANCE BUBS

GSE Critics Ignore Loan Performance


TIMEFRAME:

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



Q Did the Community Reinvestment Act under Carter/Clinton caused it?


A "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "

http://www.federalreserve.gov/newsevents/speech/20081203_analysis.pdf


FACTS on Dubya's great recession

 

[JonKoch]

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/

Other highs not mentioned in that link:

Health insurance premiums are at all-time highs, and will continue to climb.

The federal debt is at an all-time high, and will continue to climb.

Well done, Mr. Trump!

You're conflating those loans with the toxic subprime loans that sank the economy; and you've ignoring Bush's explosion on the backs of the GSE's...

Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to "explor(e) the viability of equity assurance products to protect home values in economically distressed areas."​

No, I'm establishing that Clinton laid the (shaky) foundation that Bush took to the next (idiotic) level.

Daddy Bush's policies were equally as bad.


Things would actually be worse if Obama's policies were in lockstep with Bush-Clinton-Bush policies; I do believe McCain's would have been.


Thank God Obama did it a bit different.

And you failed because that doesn't address the actual problem which was the toxic loans that cratered the economy. CRA loans, for example, comprised only about 6% of the higher toxic loans. They made up zero percent of commercial toxic loans. That wasn't the problem.

mmhmm. Right. In case you didn't notice, it wasn't commercial loans that crashed the housing market.

Commercial toxic loans contributed. The toxic loans, though primarily in the residential markets, were not contained solely to those markets.

You'd scratch your own eyes out before you'd ever admit to being wrong about anything. Sad.

April 3, 1998. After announcing billions in fines via CRA Andrew Cuomo is bold in pride that CRA would be abused to force banks to give bad loans.


The Democrats and Obama caused the financial crisis of 08 by supporting Fannie Mae and Freddie Mac

Embedded media from this media site is no longer available

Don't Regulate Fannie Mae or Freddy Mac [Franklin Raines was fined and Fannie Mae fined $400 million]


UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans
UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans - Media Circus | Media Circus

YOU WINGERS ARE NUT, A few billion under Clinton was the catalyst for Dubya/GOP subprime bubble/.ponzi scheme? LOL



Q Did the Community Reinvestment Act under Carter/Clinton caused it?


A "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "

http://www.federalreserve.gov/newsevents/speech/20081203_analysis.pdf


"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."

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.


And then they sold the loan and risk to investors and GSEs clamoring for the loans. Actually banks, pension funds, investment banks and other investors clamored for them. Bush forced Freddie and Fannie to buy an additional $440 billion in mortgages in the secondary market
FACTS on Dubya's great recession


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.

 

[JonKoch]

You're conflating those loans with the toxic subprime loans that sank the economy; and you've ignoring Bush's explosion on the backs of the GSE's...

Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to "explor(e) the viability of equity assurance products to protect home values in economically distressed areas."​

No, I'm establishing that Clinton laid the (shaky) foundation that Bush took to the next (idiotic) level.

Daddy Bush's policies were equally as bad.


Things would actually be worse if Obama's policies were in lockstep with Bush-Clinton-Bush policies; I do believe McCain's would have been.


Thank God Obama did it a bit different.

And you failed because that doesn't address the actual problem which was the toxic loans that cratered the economy. CRA loans, for example, comprised only about 6% of the higher toxic loans. They made up zero percent of commercial toxic loans. That wasn't the problem.

mmhmm. Right. In case you didn't notice, it wasn't commercial loans that crashed the housing market.

Commercial toxic loans contributed. The toxic loans, though primarily in the residential markets, were not contained solely to those markets.

You'd scratch your own eyes out before you'd ever admit to being wrong about anything. Sad.

April 3, 1998. After announcing billions in fines via CRA Andrew Cuomo is bold in pride that CRA would be abused to force banks to give bad loans.


The Democrats and Obama caused the financial crisis of 08 by supporting Fannie Mae and Freddie Mac

Embedded media from this media site is no longer available

Don't Regulate Fannie Mae or Freddy Mac [Franklin Raines was fined and Fannie Mae fined $400 million]


UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans
UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans - Media Circus | Media Circus

The onset of the recent financial crisis in late 2007 created an intellectual crisis for conservatives, who had been touting for decades the benefits of a hands-off approach to financial market regulation. As the crisis quickly spiraled out of control, it quickly became apparent that the massive credit bubble of the mid-2000s, followed by the inevitable bust that culminated with the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.

Predictably, many conservatives sought to blame the bogeymen they always blamed.


Politics Most Blatant: Conservatives Can’t Escape Blame for the Financial Crisis

 

[Dschrute3]

I'd say he's doing pretty good making America great. Good on ya Trump.

S&P and Nasdaq hit record highs

The Dow Jones industrial average rose more than 100 points on Monday as Cisco Systems' stock popped on the back of a massive cyberattack. The S&P 500 and Nasdaq composite also rose and hit record highs...

Dow jumps 100 points as Cisco leads; S&P and Nasdaq hit record highs
DRUDGE REPORT 2017®

 

[GHook93]

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/

Comparing the economy in the first 4 months between Trump and Obama, you have to be kidding!?!?!?

I am no fan of Obama, but the mortgage meltdown and recession were real and happened prior to his taking office. There is no a soul in the world that could have prevented such a downturn. Compare apple to apples moron.

You blame the debt on him as many RW pundits have, but do you realize that if he didn't bail out the banks the banks would have went under, millions of jobs would have been lost, countless small to medium business hat rely on loans would have gone out of business, people would have lost their savings and we would STILL be in a depression. Forget the fact the banks paid the money back. Then there was also auto industry bail out! Do any of you people realize the snowball effect one of the big 3 going down would have it very bad. You might say cash for clunkers, but that was a highly successful program that brought the auto industry back.

I am not fan of Obama, but Trump has done nothing worthy of respect at this point.


Sent from my iPhone using USMessageBoard.com

 

[Syriusly]

Looking back over the past 4 months/

He has the lowest approval ratings- and highest disapproval ratings- of any President at this point in his Presidency.

Go Trump.

 

[GHook93]

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

I am sorry but that is utter BS that it is blamed on Obama!


Sent from my iPhone using USMessageBoard.com

 

[Steve_McGarrett]

Looking back over the past 4 months/

He has the lowest approval ratings- and highest disapproval ratings- of any President at this point in his Presidency.

Go Trump.

We didn't vote for Trump to have low or high approval ratings. We voted for him to make America great again. He's succeeding as the first 4 months of his presidency is proving.

 

[Steve_McGarrett]

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/

Comparing the economy in the first 4 months between Trump and Obama, you have to be kidding!?!?!?

I am no fan of Obama, but the mortgage meltdown and recession were real and happened prior to his taking office. There is no a soul in the world that could have prevented such a downturn. Compare apple to apples moron.

You blame the debt on him as many RW pundits have, but do you realize that if he didn't bail out the banks the banks would have went under, millions of jobs would have been lost, countless small to medium business hat rely on loans would have gone out of business, people would have lost their savings and we would STILL be in a depression. Forget the fact the banks paid the money back. Then there was also auto industry bail out! Do any of you people realize the snowball effect one of the big 3 going down would have it very bad. You might say cash for clunkers, but that was a highly successful program that brought the auto industry back.

I am not fan of Obama, but Trump has done nothing worthy of respect at this point.


Sent from my iPhone using USMessageBoard.com

False!

 

[ClosedCaption]

Only thing Trump is crushing is 100x more lies.

100x more times yelling "fore"

 

[BlindBoo]

We voted for him to make America great again.

Well we are great laughing stocks the world over.

Thanks Donnie Dangerously.

 

[CowboyTed]

Trump started off with a 55% approval,,now he's pushing 70. {well thanks to Maxine Waters being the spokeswoman for all democrats}

You're a lying and/or delusional sack of shit.

Trump has an average approval rating of 41.1, and an average disapproval rating 53.6 according to Real Clear Politics

Quoting a website to support biased rigged posts only proves how hopeless you have become. ALL POLLS ARE TAINTED.

Look a step away from Reality:

You are using Gateway Pundit as a source while objecting to RCP....

You are going to take the fall hard...

Why do you clowns make a statement about "what I am using" when you have no idea what i do? I don't believe any media. Chalk you up as just another liar.

Well tell us what you are using because we are using the truth and to quote someone from earlier this year, you don't get your own facts.

 

[Faun]

You're conflating those loans with the toxic subprime loans that sank the economy; and you've ignoring Bush's explosion on the backs of the GSE's...

Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to "explor(e) the viability of equity assurance products to protect home values in economically distressed areas."​

No, I'm establishing that Clinton laid the (shaky) foundation that Bush took to the next (idiotic) level.

Daddy Bush's policies were equally as bad.


Things would actually be worse if Obama's policies were in lockstep with Bush-Clinton-Bush policies; I do believe McCain's would have been.


Thank God Obama did it a bit different.

And you failed because that doesn't address the actual problem which was the toxic loans that cratered the economy. CRA loans, for example, comprised only about 6% of the higher toxic loans. They made up zero percent of commercial toxic loans. That wasn't the problem.

mmhmm. Right. In case you didn't notice, it wasn't commercial loans that crashed the housing market.

Commercial toxic loans contributed. The toxic loans, though primarily in the residential markets, were not contained solely to those markets.

You'd scratch your own eyes out before you'd ever admit to being wrong about anything. Sad.

April 3, 1998. After announcing billions in fines via CRA Andrew Cuomo is bold in pride that CRA would be abused to force banks to give bad loans.


The Democrats and Obama caused the financial crisis of 08 by supporting Fannie Mae and Freddie Mac

Embedded media from this media site is no longer available

Don't Regulate Fannie Mae or Freddy Mac [Franklin Raines was fined and Fannie Mae fined $400 million]


UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans
UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans - Media Circus | Media Circus

Idiot...

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

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

The Democrats and Obama caused the financial crisis of 08 by supporting Fannie Mae and Freddie Mac

Imbecile....
in 2008, Democrats did what Republicans failed to do during all those years they controlled Congress -- they passed GSE reform.

Maybe you'll answer the question your fellow yahoo ran away from....

Why didn't Republicans pass GSE reform during all the years they ran the Congress?

 

[Faun]

It wasn't

Yes, Clinton and Bush crashed the economy, Bigly.

CLINTON???? LOL

The "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," the President's Working Group on Financial Markets MARCH 2008

You're spinning like The Exorcist girl over there.



I've seen the thousands of acres of abandoned sorghum fields perpetrated by

Obama's "stimulus".

The used car market is self-evident proof.

LOLOL

To rightards, posting a chart private sector employment is ... "spinning."

I'm wondering which one of you is dumber, pretty sure it's the new guy.


Fannie Mae Eases Credit To Aid Mortgage Lending

WEIRD YOU KLOWNS STILL HOLD ONTO THE FANNIE/FREDDIE DID IT MEME AFTER IT'S BEEN LONG DEBUNKED!

Yeah, Clinton had Fannie do more loans? AND?

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."



Q Did the Community Reinvestment Act under Carter/Clinton caused it?


A "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "

ROOTED IN POOR PERFORMANCE LOANS MADE 2004-2007??? BUT, BUT???



http://www.federalreserve.gov/newsevents/speech/20081203_analysis.pd


"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."

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. And then they sold the loan and risk to investors and GSEs clamoring for the loans. Actually banks, pension funds, investment banks and other investors clamored for them. Bush forced Freddie and Fannie to buy an additional $440 billion in mortgages in the secondary market.

MY THREAD WITH DOZENS OF CREDIBLE LINKS. CLINTON HUH? LOL NEXT YOU'LL BRING OUT AN OUT OF CONTEXT VID OF BARNEY FRANK

FACTS on Dubya's great recession

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.



GSE Critics Ignore Loan Performance

That pretty much says what I said, and outs you as a Pogo or Dad2three sock.

PRETTY MUCH SAYS WHAT YOU SAID???? SERIOUSLY?? LOL

Dubya's own working group AND the Federal Reserve says the time frame was 2004-2007, why did it take Clinton's 1999 change to effect it? HINT, IN 2000 CLINTON CHANGED IT AGAIN

I'M DAD2THREE, LOCKED OUT OF AN OLD EMAIL ACCOUNT CAN'T RESET PASSWORD


HINT DUBYA'S/GOP's "home ownership" society where they dropped ALL oversight and fought ALL 50 states who wanted to reign in the PREDATORY LENDERS that started in late 2003 was the cause of 90% of the BUSH MORTGAGE BUBBLE/PONZI SCHEME



THIS WAS BECAUSE OF BJ BILL?

Welcome back, bro.

 

[The Derp]

[QUOTE="Steve_McGarrett, post: 17254252, member: 44457"Obama was indeed a miracle worker.....At destroying the country along with its founding principles.[/QUOTE]

How so? By extending health care to 24,000,000 people? By bringing us to full employment? By getting Osama bin Laden?

It doesn't seem to me like you have any fucking clue what the founding principles of this country were. Not that it matters, anyway. What was true in 1776 is not true in 2017. Applying 18th-century thinking to 21st-century problems is laziness. That's all you are, a lazy person.