Reason to hate progressives #742:

[Ravi]

Even when Republicans win, they whine. How sad.

 

[peach174]

No that is what Dems spin said.

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. He also wanted a new agency. that is not deregulation.
Between what Clinton did - it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street’s most revered institutions.

The Bush administration isn’t blameless in letting this get out of hand, but clearly the origins of the disaster and the efforts to keep bad policies in place fall on the Democrats in this case.

I'll agree that Clinton did some bad things. But the republicans are generally for deregulation and industry self regulation which is clearly disastrous.

It is just the opposite.
It was the Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.
Over regulations is what caused a big disaster

Not so sure about that. Here's the best explanation I've heard yet of what happened. I haven't listened to it in a while but the main problems I can recall are a lack of accountability in bundling crap assets, over leveraging and a belief that housing prices only went up that created the gigantic clusterfuck of a house of cards.

The Giant Pool of Money This American Life

What caused the lack of accountability in those bundling crap assets?
Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards.

Tell me what you think those regulations were. I attribute the risky moves to good old fashioned greed and the belief that their housing collateral would have nowhere to go but up in price.

An official 1996 report from the OCC: ...other provisions of Federal law provide alternative bases upon which national banks may rely in setting interest rates. In this regard, we note that 12 U.S.C. 1735f-7a(a) overrides state law with respect to certain charges in connection with loans secured by first liens on residential mortgages. Similarly, OCC regulations, 61 Fed. Reg. 11,294, 11,301 (March 20, 1996) (to be codified at 12 C.F.R. 34.20 through 34.25), override state restrictions on adjustable rate mortgage (ARM) loans, including restrictions on prepayment penalties, made to finance or refinance the purchase of, and secured by, a lien on a one-to-four family-dwelling...

http://www.occ.treas.gov/interp/oct/int744.pdf

And the new Dodd Frank bill is going to create the same dang thing in the future.
Not to mention the harm it is doing to our smaller banks.

 

[JoeNormal]

I'll agree that Clinton did some bad things. But the republicans are generally for deregulation and industry self regulation which is clearly disastrous.

It is just the opposite.
It was the Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.
Over regulations is what caused a big disaster

Not so sure about that. Here's the best explanation I've heard yet of what happened. I haven't listened to it in a while but the main problems I can recall are a lack of accountability in bundling crap assets, over leveraging and a belief that housing prices only went up that created the gigantic clusterfuck of a house of cards.

The Giant Pool of Money This American Life

What caused the lack of accountability in those bundling crap assets?
Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards.

Tell me what you think those regulations were. I attribute the risky moves to good old fashioned greed and the belief that their housing collateral would have nowhere to go but up in price.

An official 1996 report from the OCC: ...other provisions of Federal law provide alternative bases upon which national banks may rely in setting interest rates. In this regard, we note that 12 U.S.C. 1735f-7a(a) overrides state law with respect to certain charges in connection with loans secured by first liens on residential mortgages. Similarly, OCC regulations, 61 Fed. Reg. 11,294, 11,301 (March 20, 1996) (to be codified at 12 C.F.R. 34.20 through 34.25), override state restrictions on adjustable rate mortgage (ARM) loans, including restrictions on prepayment penalties, made to finance or refinance the purchase of, and secured by, a lien on a one-to-four family-dwelling...

http://www.occ.treas.gov/interp/oct/int744.pdf

And the new Dodd Frank bill is going to create the same dang thing in the future.
Not to mention the harm it is doing to our smaller banks.

I have no idea what information your paragraph is supposed to impart. The link embedded in it goes to a medical school forum. I think you're implying that the they couldn't charge enough interest to make any money so they had no choice but to turn our economy into a giant casino. And the pdf? What am I supposed to look at in there?

 

[jknowgood]

Oh bullshit, your one of Obama's best swallowers. As to my support to a candidate. I openly criticized Bush, also ole Lindsay Graham didn't get my vote, even though if he lost our win wouldn't of been as great.

As long as you reject reality I can't help you. Obama is just a pol. One of these days you guys will figure that out,

Keep dancing around the question.

You had a question? No, you had an accusation. Carry on...

Wow a yes or no question, are you mentally ill?

Do you have that in English?

I've never heard you criticize Obama, and if someone does. You defend Obama, so I will take that as a yes. Since you won't say.

 

[PaintMyHouse]

As long as you reject reality I can't help you. Obama is just a pol. One of these days you guys will figure that out,

Keep dancing around the question.

You had a question? No, you had an accusation. Carry on...

Wow a yes or no question, are you mentally ill?

Do you have that in English?

I've never heard you criticize Obama, and if someone does. You defend Obama, so I will take that as a yes. Since you won't say.

You not paying attention matters to me not at all. And my support for the POTUS is situational, as it is for all other human beings and the things they do and create.

 

[Eric Cartman]

They are some of the most dishonest and hypocritical people that have ever fouled this world up with their bull shit. For example:

When Obama and the Democrats won they said things like; "We won, get over it", and "Elections have consequences", and "If you want to make policy, win an election", and of course, "Republicans can ride along with us, but they have to get in the back of the bus". Now that they lost, they want to compromise. Screw off morons, you had your chance.

I confess that I am a progressive ... after all what is so bad about progress?

 

[PredFan]

They are some of the most dishonest and hypocritical people that have ever fouled this world up with their bull shit. For example:

When Obama and the Democrats won they said things like; "We won, get over it", and "Elections have consequences", and "If you want to make policy, win an election", and of course, "Republicans can ride along with us, but they have to get in the back of the bus". Now that they lost, they want to compromise. Screw off morons, you had your chance.

I confess that I am a progressive ... after all what is so bad about progress?

There is no progress with progressives. Like everything else about them, it's a lie.

 

[PaintMyHouse]

They are some of the most dishonest and hypocritical people that have ever fouled this world up with their bull shit. For example:

When Obama and the Democrats won they said things like; "We won, get over it", and "Elections have consequences", and "If you want to make policy, win an election", and of course, "Republicans can ride along with us, but they have to get in the back of the bus". Now that they lost, they want to compromise. Screw off morons, you had your chance.

I confess that I am a progressive ... after all what is so bad about progress?

Morons like those fear change, like most other things, especially rational thinking and knowledge. Don't worry about it. The didn't potty-train well, and therefore never grew up.

 

[peach174]

It is just the opposite.
It was the Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.
Over regulations is what caused a big disaster

Not so sure about that. Here's the best explanation I've heard yet of what happened. I haven't listened to it in a while but the main problems I can recall are a lack of accountability in bundling crap assets, over leveraging and a belief that housing prices only went up that created the gigantic clusterfuck of a house of cards.

The Giant Pool of Money This American Life

What caused the lack of accountability in those bundling crap assets?
Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards.

Tell me what you think those regulations were. I attribute the risky moves to good old fashioned greed and the belief that their housing collateral would have nowhere to go but up in price.

An official 1996 report from the OCC: ...other provisions of Federal law provide alternative bases upon which national banks may rely in setting interest rates. In this regard, we note that 12 U.S.C. 1735f-7a(a) overrides state law with respect to certain charges in connection with loans secured by first liens on residential mortgages. Similarly, OCC regulations, 61 Fed. Reg. 11,294, 11,301 (March 20, 1996) (to be codified at 12 C.F.R. 34.20 through 34.25), override state restrictions on adjustable rate mortgage (ARM) loans, including restrictions on prepayment penalties, made to finance or refinance the purchase of, and secured by, a lien on a one-to-four family-dwelling...

http://www.occ.treas.gov/interp/oct/int744.pdf

And the new Dodd Frank bill is going to create the same dang thing in the future.
Not to mention the harm it is doing to our smaller banks.

I have no idea what information your paragraph is supposed to impart. The link embedded in it goes to a medical school forum. I think you're implying that the they couldn't charge enough interest to make any money so they had no choice but to turn our economy into a giant casino. And the pdf? What am I supposed to look at in there?

That is weird because when I click on it I get the Office of the Comptroller of the currency. The OCC where the report came from.

Andrew Cuomo, who was the Housing and Urban Development secretary , made a series of decisions between 1997 and 2001 that gave birth to the country’s current crisis. He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded ‘kickbacks’ to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families faced foreclosure, and Cuomo is one of the reasons why.
Cuomo … did more to set these forces of unregulated expansion in motion than any other secretary and then boasted about it, presenting his initiatives as crusades for racial and social justice.
Yet the Republicans get the blame.

 

[bripat9643]

Tissue?

We don't hate you, Predfan. We just pity you.

ROFL! The hatred is just dripping from all the liberal turds in this forum.

 

[PaintMyHouse]

Not so sure about that. Here's the best explanation I've heard yet of what happened. I haven't listened to it in a while but the main problems I can recall are a lack of accountability in bundling crap assets, over leveraging and a belief that housing prices only went up that created the gigantic clusterfuck of a house of cards.

The Giant Pool of Money This American Life

What caused the lack of accountability in those bundling crap assets?
Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards.

Tell me what you think those regulations were. I attribute the risky moves to good old fashioned greed and the belief that their housing collateral would have nowhere to go but up in price.

An official 1996 report from the OCC: ...other provisions of Federal law provide alternative bases upon which national banks may rely in setting interest rates. In this regard, we note that 12 U.S.C. 1735f-7a(a) overrides state law with respect to certain charges in connection with loans secured by first liens on residential mortgages. Similarly, OCC regulations, 61 Fed. Reg. 11,294, 11,301 (March 20, 1996) (to be codified at 12 C.F.R. 34.20 through 34.25), override state restrictions on adjustable rate mortgage (ARM) loans, including restrictions on prepayment penalties, made to finance or refinance the purchase of, and secured by, a lien on a one-to-four family-dwelling...

http://www.occ.treas.gov/interp/oct/int744.pdf

And the new Dodd Frank bill is going to create the same dang thing in the future.
Not to mention the harm it is doing to our smaller banks.

I have no idea what information your paragraph is supposed to impart. The link embedded in it goes to a medical school forum. I think you're implying that the they couldn't charge enough interest to make any money so they had no choice but to turn our economy into a giant casino. And the pdf? What am I supposed to look at in there?

That is weird because when I click on it I get the Office of the Comptroller of the currency. The OCC where the report came from.

Andrew Cuomo, who was the Housing and Urban Development secretary , made a series of decisions between 1997 and 2001 that gave birth to the country’s current crisis. He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded ‘kickbacks’ to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families faced foreclosure, and Cuomo is one of the reasons why.
Cuomo … did more to set these forces of unregulated expansion in motion than any other secretary and then boasted about it, presenting his initiatives as crusades for racial and social justice.
Yet the Republicans get the blame.

Your info came from this:

"In 2008, Wayne Barrett wrote in detail in the Village Voice about the changes Mr. Cuomo also wrought at the Federal Housing Administration, encouraging bigger loans with smaller down payments.

Mr. Barrett wrote that Mr. Cuomo "made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down . . . .""
http://online.wsj.com/articles/SB10001424052748703427704575051443279877452

 

[JoeNormal]

Not so sure about that. Here's the best explanation I've heard yet of what happened. I haven't listened to it in a while but the main problems I can recall are a lack of accountability in bundling crap assets, over leveraging and a belief that housing prices only went up that created the gigantic clusterfuck of a house of cards.

The Giant Pool of Money This American Life

What caused the lack of accountability in those bundling crap assets?
Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards.

Tell me what you think those regulations were. I attribute the risky moves to good old fashioned greed and the belief that their housing collateral would have nowhere to go but up in price.

An official 1996 report from the OCC: ...other provisions of Federal law provide alternative bases upon which national banks may rely in setting interest rates. In this regard, we note that 12 U.S.C. 1735f-7a(a) overrides state law with respect to certain charges in connection with loans secured by first liens on residential mortgages. Similarly, OCC regulations, 61 Fed. Reg. 11,294, 11,301 (March 20, 1996) (to be codified at 12 C.F.R. 34.20 through 34.25), override state restrictions on adjustable rate mortgage (ARM) loans, including restrictions on prepayment penalties, made to finance or refinance the purchase of, and secured by, a lien on a one-to-four family-dwelling...

http://www.occ.treas.gov/interp/oct/int744.pdf

And the new Dodd Frank bill is going to create the same dang thing in the future.
Not to mention the harm it is doing to our smaller banks.

I have no idea what information your paragraph is supposed to impart. The link embedded in it goes to a medical school forum. I think you're implying that the they couldn't charge enough interest to make any money so they had no choice but to turn our economy into a giant casino. And the pdf? What am I supposed to look at in there?

That is weird because when I click on it I get the Office of the Comptroller of the currency. The OCC where the report came from.

Andrew Cuomo, who was the Housing and Urban Development secretary , made a series of decisions between 1997 and 2001 that gave birth to the country’s current crisis. He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded ‘kickbacks’ to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families faced foreclosure, and Cuomo is one of the reasons why.
Cuomo … did more to set these forces of unregulated expansion in motion than any other secretary and then boasted about it, presenting his initiatives as crusades for racial and social justice.
Yet the Republicans get the blame.

I've become convinced that republicans and democrats are two sides of the same coin. It's a good cop, bad cop game that they're playing and they only exist to do the bidding of the segments of our society that control the money.

 

[peach174]

They are some of the most dishonest and hypocritical people that have ever fouled this world up with their bull shit. For example:

When Obama and the Democrats won they said things like; "We won, get over it", and "Elections have consequences", and "If you want to make policy, win an election", and of course, "Republicans can ride along with us, but they have to get in the back of the bus". Now that they lost, they want to compromise. Screw off morons, you had your chance.

I confess that I am a progressive ... after all what is so bad about progress?

There is no progress with progressives. Like everything else about them, it's a lie.

There is great progress of expanded government from the progressives point of view, but no progress for the people and businesses for the Nation.
Just like the Affordable Health Care Act that is not affordable.
Progressives are Masters at Exploitation saying theses programs are to help you, when it is all about controlling all of us in some way or other.
We need to vote out all of the progressives in both parties.

 

[PaintMyHouse]

They are some of the most dishonest and hypocritical people that have ever fouled this world up with their bull shit. For example:

When Obama and the Democrats won they said things like; "We won, get over it", and "Elections have consequences", and "If you want to make policy, win an election", and of course, "Republicans can ride along with us, but they have to get in the back of the bus". Now that they lost, they want to compromise. Screw off morons, you had your chance.

I confess that I am a progressive ... after all what is so bad about progress?

There is no progress with progressives. Like everything else about them, it's a lie.

There is great progress of expanded government from the progressives point of view, but no progress for the people and businesses for the Nation.
Just like the Affordable Health Care Act that is not affordable.
Progressives are Masters at Exploitation saying theses programs are to help you, when it is all about controlling all of us in some way or other.
We need to vote out all of the progressives in both parties.

You're in the wrong country, mine, and you should leave.

 

[peach174]

What caused the lack of accountability in those bundling crap assets?
Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards.

Tell me what you think those regulations were. I attribute the risky moves to good old fashioned greed and the belief that their housing collateral would have nowhere to go but up in price.

An official 1996 report from the OCC: ...other provisions of Federal law provide alternative bases upon which national banks may rely in setting interest rates. In this regard, we note that 12 U.S.C. 1735f-7a(a) overrides state law with respect to certain charges in connection with loans secured by first liens on residential mortgages. Similarly, OCC regulations, 61 Fed. Reg. 11,294, 11,301 (March 20, 1996) (to be codified at 12 C.F.R. 34.20 through 34.25), override state restrictions on adjustable rate mortgage (ARM) loans, including restrictions on prepayment penalties, made to finance or refinance the purchase of, and secured by, a lien on a one-to-four family-dwelling...

http://www.occ.treas.gov/interp/oct/int744.pdf

And the new Dodd Frank bill is going to create the same dang thing in the future.
Not to mention the harm it is doing to our smaller banks.

I have no idea what information your paragraph is supposed to impart. The link embedded in it goes to a medical school forum. I think you're implying that the they couldn't charge enough interest to make any money so they had no choice but to turn our economy into a giant casino. And the pdf? What am I supposed to look at in there?

That is weird because when I click on it I get the Office of the Comptroller of the currency. The OCC where the report came from.

Andrew Cuomo, who was the Housing and Urban Development secretary , made a series of decisions between 1997 and 2001 that gave birth to the country’s current crisis. He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded ‘kickbacks’ to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families faced foreclosure, and Cuomo is one of the reasons why.
Cuomo … did more to set these forces of unregulated expansion in motion than any other secretary and then boasted about it, presenting his initiatives as crusades for racial and social justice.
Yet the Republicans get the blame.

Your info came from this:

"In 2008, Wayne Barrett wrote in detail in the Village Voice about the changes Mr. Cuomo also wrought at the Federal Housing Administration, encouraging bigger loans with smaller down payments.

Mr. Barrett wrote that Mr. Cuomo "made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down . . . .""
http://online.wsj.com/articles/SB10001424052748703427704575051443279877452

Thank you.
Mine came from reson.com
As usual I sometimes forget to put up the links and think that I did. Especially when I get interrupted while posting.
Clinton s Legacy The Financial and Housing Meltdown - Reason.com

 

[peach174]

They are some of the most dishonest and hypocritical people that have ever fouled this world up with their bull shit. For example:

When Obama and the Democrats won they said things like; "We won, get over it", and "Elections have consequences", and "If you want to make policy, win an election", and of course, "Republicans can ride along with us, but they have to get in the back of the bus". Now that they lost, they want to compromise. Screw off morons, you had your chance.

I confess that I am a progressive ... after all what is so bad about progress?

There is no progress with progressives. Like everything else about them, it's a lie.

There is great progress of expanded government from the progressives point of view, but no progress for the people and businesses for the Nation.
Just like the Affordable Health Care Act that is not affordable.
Progressives are Masters at Exploitation saying theses programs are to help you, when it is all about controlling all of us in some way or other.
We need to vote out all of the progressives in both parties.

You're in the wrong country, mine, and you should leave.

This poll says your wrong.
Twice as Many Americans Conservative as Liberal

41% of the country self-identifies as “conservative,” 34% as “moderate,” and only 21% as “liberal.” Further, 14% consider themselves “strong conservatives” vice only 6% “strong liberals.” So, not only are there twice as many who consider themselves “conservatives” as “liberals,” but two thirds as many “strong conservatives” as “liberals,” period.
This, from a survey sample where 47% are Democrats or Democrat leaners vice 43% Republicans or Republican leaners, where 68% think the country is on the wrong track, and 65% disapprove of President Bush’s job performance.

Just as many are still saying the country is on the wrong track with both President Bush and President Obama.

 

[peach174]

What caused the lack of accountability in those bundling crap assets?
Tough new regulations that forced lenders into high-risk areas where they had no choice but to lower lending standards.

Tell me what you think those regulations were. I attribute the risky moves to good old fashioned greed and the belief that their housing collateral would have nowhere to go but up in price.

An official 1996 report from the OCC: ...other provisions of Federal law provide alternative bases upon which national banks may rely in setting interest rates. In this regard, we note that 12 U.S.C. 1735f-7a(a) overrides state law with respect to certain charges in connection with loans secured by first liens on residential mortgages. Similarly, OCC regulations, 61 Fed. Reg. 11,294, 11,301 (March 20, 1996) (to be codified at 12 C.F.R. 34.20 through 34.25), override state restrictions on adjustable rate mortgage (ARM) loans, including restrictions on prepayment penalties, made to finance or refinance the purchase of, and secured by, a lien on a one-to-four family-dwelling...

http://www.occ.treas.gov/interp/oct/int744.pdf

And the new Dodd Frank bill is going to create the same dang thing in the future.
Not to mention the harm it is doing to our smaller banks.

I have no idea what information your paragraph is supposed to impart. The link embedded in it goes to a medical school forum. I think you're implying that the they couldn't charge enough interest to make any money so they had no choice but to turn our economy into a giant casino. And the pdf? What am I supposed to look at in there?

That is weird because when I click on it I get the Office of the Comptroller of the currency. The OCC where the report came from.

Andrew Cuomo, who was the Housing and Urban Development secretary , made a series of decisions between 1997 and 2001 that gave birth to the country’s current crisis. He took actions that — in combination with many other factors — helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded ‘kickbacks’ to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families faced foreclosure, and Cuomo is one of the reasons why.
Cuomo … did more to set these forces of unregulated expansion in motion than any other secretary and then boasted about it, presenting his initiatives as crusades for racial and social justice.
Yet the Republicans get the blame.

I've become convinced that republicans and democrats are two sides of the same coin. It's a good cop, bad cop game that they're playing and they only exist to do the bidding of the segments of our society that control the money.

yep
They are all part of oligarchy club aka the good Ole boys club.
It's all interconnected between the politicians, the lobbyists and the main stream media like a revolving door.
Two examples of vast amounts of links between all of them would be the Clinton's and McCain's daughters in the media. Some day they both may run for President or the House and or Senate.
Another would be George Robert Stephanopoulos who is now an American television journalist and who was a former U.S. Democratic Party political adviser
You get in that club and you do very well. If you aren't your toast.
It's the way that it has been set up. Get rid of it and a lot of the corruption and favoritism goes away.
A good start would be getting rid of the old tax code which would wipe out a lot of the crony capitalism.
Another start would be rules that politicians can not make any money other than their salaries while in office just like the president, nor can their hirer any friends or relatives for anything connected to the government.