The massive tax cut like the one in the Bush years didn’t benefit workers for a very simple reason

[francoHFW]

Great job by GOP regulation and regulators allowing Countrywide and other private institutions and Banks and Wall Street go absolutely nuts selling mortgages to anyone breathing... Only cost us 8 trillion dollars to fix and help victims under Obama and GOP TARP... MOST GOP Chumps believe no meltdown happened under the GOP. You have your own planet... Poor America....

Great job by GOP regulation and regulators allowing Countrywide and other private institutions and Banks and Wall Street go absolutely nuts selling mortgages to anyone breathing..

Hold on there, Sparky.
Dems, including a certain useless community organizer from Chicago, whined when banks applied standards
to decide whether to make loans, because standards cause "disparate impacts".
Poor people and minorities didn't get enough loans when standards are used, so banks were sued.
Regulations were enacted to force banks to do a certain amount of business in minority and lower income areas. Regulations were enacted that caused banks to purchase mortgages made in lower income areas to borrowers with worse credit scores.

The government even forced the GSEs to buy over $1 trillion in subprime loans.

At what point were these regulations against lending to "anyone breathing" enacted? Link?

It was more corrupt GOP regulators letting their Pals run wild... See also Big oil health Pharma lobbyists running wild under Bush as usual under the GOP POS Administrations...
Thanks for allowing 9/11 through sheer incompetence, the stupidest Wars ever, and a corrupt GOP World depression AGAIN. NO ONE in their right Minds would vote for the GOP, brainwashed functional moron LOL! ARGGGHHHHHH...

It was more corrupt GOP regulators letting their Pals run wild...

It's a good thing the Dems were warning everyone about the lax lending standards they had so recently been pushing themselves, eh comrade?

Wait, the Dems weren't doing that? Weird.
And the Republicans weren't ignoring regulations against writing bad mortgages?

I agree.

Read something, brainwashed ignoramus Dupe.

Everything I read proves you're a whiny moron.

So many dupes believe they should vote GOP because Democrats couldn't stop them. They are idiots just like you. Although you are the biggest waste of time on here with your stupid questions...

 

[francoHFW]

I got a tax cut from Bush. More take home money. That is a good thing.

If you didn't get a tax cut then you weren't doing it right.

His tax cut is what saved us after the trillion hit to our economy after 911.

Bush had six years of a good economy until that filthy ass Democrat Congress was elected in 2006. Then everything went to hell and thanks to Trump is just now recovering.

Before you stupid Moon Bats bitch much about the Bush tax cuts remember that Obama and the Democrats extended them.

Things went to hell in 2006-8 because ridiculous corrupt GOP mortgages came due, dingbat dupe.

That was caused by the stupid Democrat CRA and Barney Queerboy, Tits Pelkoski and Dirty Harry didn't do a damn thing in their oversight committees to fix the probelm, you nitwit.

The Democrats wanted to put pressure on the lending institutions to give credit to minorities and low income people that could not otherwise qualify and who neither had the means nor the inclination to pay back the money. You know, for social justice reasons. What could possibly go wrong?

They did CRA in 1978, s*******. Why did it take until 2003 for GOP cronies to wreck the world economy?

 

[Toddsterpatriot]

People with less income, lower credit ratings and lower (even zero) down payments were given mortgages.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.


Absolutely!
Bush took Clinton's bad policy and made it even worse.

 

[Toddsterpatriot]

Great job by GOP regulation and regulators allowing Countrywide and other private institutions and Banks and Wall Street go absolutely nuts selling mortgages to anyone breathing..

Hold on there, Sparky.
Dems, including a certain useless community organizer from Chicago, whined when banks applied standards
to decide whether to make loans, because standards cause "disparate impacts".
Poor people and minorities didn't get enough loans when standards are used, so banks were sued.
Regulations were enacted to force banks to do a certain amount of business in minority and lower income areas. Regulations were enacted that caused banks to purchase mortgages made in lower income areas to borrowers with worse credit scores.

The government even forced the GSEs to buy over $1 trillion in subprime loans.

At what point were these regulations against lending to "anyone breathing" enacted? Link?

It was more corrupt GOP regulators letting their Pals run wild... See also Big oil health Pharma lobbyists running wild under Bush as usual under the GOP POS Administrations...
Thanks for allowing 9/11 through sheer incompetence, the stupidest Wars ever, and a corrupt GOP World depression AGAIN. NO ONE in their right Minds would vote for the GOP, brainwashed functional moron LOL! ARGGGHHHHHH...

It was more corrupt GOP regulators letting their Pals run wild...

It's a good thing the Dems were warning everyone about the lax lending standards they had so recently been pushing themselves, eh comrade?

Wait, the Dems weren't doing that? Weird.
And the Republicans weren't ignoring regulations against writing bad mortgages?

I agree.

Read something, brainwashed ignoramus Dupe.

Everything I read proves you're a whiny moron.

So many dupes believe they should vote GOP because Democrats couldn't stop them. They are idiots just like you. Although you are the biggest waste of time on here with your stupid questions...

I understand, pointing out your idiocy makes you sad.

 

[francoHFW]

People with less income, lower credit ratings and lower (even zero) down payments were given mortgages.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.


Absolutely!
Bush took Clinton's bad policy and made it even worse.

So much that he caused another corrupt GOP depression worldwide. And I expect Trump to do it again if he has 8 years. Why the hell do you vote for these greedy corrupt assholes? Answer you are a brainwashed twit.

 

[francoHFW]

It was more corrupt GOP regulators letting their Pals run wild... See also Big oil health Pharma lobbyists running wild under Bush as usual under the GOP POS Administrations...
Thanks for allowing 9/11 through sheer incompetence, the stupidest Wars ever, and a corrupt GOP World depression AGAIN. NO ONE in their right Minds would vote for the GOP, brainwashed functional moron LOL! ARGGGHHHHHH...

It was more corrupt GOP regulators letting their Pals run wild...

It's a good thing the Dems were warning everyone about the lax lending standards they had so recently been pushing themselves, eh comrade?

Wait, the Dems weren't doing that? Weird.
And the Republicans weren't ignoring regulations against writing bad mortgages?

I agree.

Read something, brainwashed ignoramus Dupe.

Everything I read proves you're a whiny moron.

So many dupes believe they should vote GOP because Democrats couldn't stop them. They are idiots just like you. Although you are the biggest waste of time on here with your stupid questions...

I understand, pointing out your idiocy makes you sad.

You just admitted above that bush caused the depression. And still you go on. Idiot.

 

[francoHFW]

It was more corrupt GOP regulators letting their Pals run wild... See also Big oil health Pharma lobbyists running wild under Bush as usual under the GOP POS Administrations...
Thanks for allowing 9/11 through sheer incompetence, the stupidest Wars ever, and a corrupt GOP World depression AGAIN. NO ONE in their right Minds would vote for the GOP, brainwashed functional moron LOL! ARGGGHHHHHH...

It was more corrupt GOP regulators letting their Pals run wild...

It's a good thing the Dems were warning everyone about the lax lending standards they had so recently been pushing themselves, eh comrade?

Wait, the Dems weren't doing that? Weird.
And the Republicans weren't ignoring regulations against writing bad mortgages?

I agree.

Read something, brainwashed ignoramus Dupe.

Everything I read proves you're a whiny moron.

So many dupes believe they should vote GOP because Democrats couldn't stop them. They are idiots just like you. Although you are the biggest waste of time on here with your stupid questions...

I understand, pointing out your idiocy makes you sad.

Actually you just point out you are an ignoramus.

 

[Toddsterpatriot]

People with less income, lower credit ratings and lower (even zero) down payments were given mortgages.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.


Absolutely!
Bush took Clinton's bad policy and made it even worse.

So much that he caused another corrupt GOP depression worldwide. And I expect Trump to do it again if he has 8 years. Why the hell do you vote for these greedy corrupt assholes? Answer you are a brainwashed twit.

So much that he caused another corrupt GOP depression worldwide.

50% crappy mortgages are okay, 55% cause a depression. Wait, whut?

 

[francoHFW]

People with less income, lower credit ratings and lower (even zero) down payments were given mortgages.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.


Absolutely!
Bush took Clinton's bad policy and made it even worse.

So much that he caused another corrupt GOP depression worldwide. And I expect Trump to do it again if he has 8 years. Why the hell do you vote for these greedy corrupt assholes? Answer you are a brainwashed twit.

So much that he caused another corrupt GOP depression worldwide.

50% crappy mortgages are okay, 55% cause a depression. Wait, whut?

Millions and millions of them... And the difference was a hell of a lot more than that...

 

[Toddsterpatriot]

People with less income, lower credit ratings and lower (even zero) down payments were given mortgages.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.


Absolutely!
Bush took Clinton's bad policy and made it even worse.

So much that he caused another corrupt GOP depression worldwide. And I expect Trump to do it again if he has 8 years. Why the hell do you vote for these greedy corrupt assholes? Answer you are a brainwashed twit.

So much that he caused another corrupt GOP depression worldwide.

50% crappy mortgages are okay, 55% cause a depression. Wait, whut?

Millions and millions of them... And the difference was a hell of a lot more than that...

Millions and millions of them..

Yes, Clinton forced Fanny and Freddy to buy millions of crappy mortgages.
It was awful!

And the difference was a hell of a lot more than that...

Nope. Clinton mandated 50%. Bush raised it to 55%.

 

[Brain357]

Corporations are already wealthier than ever before. There is no incentive for these corporations to invest in labor when it is just easier to save money on tax cuts. Meanwhile, the deficit explodes and only executives benefit.

Even if corporate profits weren’t at an all time high, there is still a fiduciary responsibility to maximize profit. How, in part, do you maximize profit? By not investing in labor and accepting the economy as is. Right now, higher wage jobs are extremely competitive among workers while lower income jobs fill quite easily.

Lower wage workers are at the mercy of the economy. While it may be easy for republicans to call them lazy, it ignores the complexity of what creates poverty. Low wage workers do not have the time or money to spend on education that would make them qualified for skilled jobs. Of course, let’s pretend ALL workers did this. Who would be left behind to fill those entry level jobs that keep any business afloat?

Thanks for showing everyone that you're an economic ignoramous. Idiocies like the stuff you posted in your OP should make everyone pause before they consider voting for a Democrat.

You just can’t explain how I am wrong.

The first thing you're wrong about is your belief that corporations can pay labor whatever they like. The price of labor is determined by supply and demand.

So wages should be going up with really low unemployment. Wages are pretty stagnant...

Prove it!
Here is the proof that average salary has increased 5% a year for the past 26 years!
That's my proof. Median average salary increase for past 26 years has been 5% per year Source: SSA..... Average wages, median wages, and wage dispersion

Your link has a chart only going to 2016.

 

[francoHFW]

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.


Absolutely!
Bush took Clinton's bad policy and made it even worse.

So much that he caused another corrupt GOP depression worldwide. And I expect Trump to do it again if he has 8 years. Why the hell do you vote for these greedy corrupt assholes? Answer you are a brainwashed twit.

So much that he caused another corrupt GOP depression worldwide.

50% crappy mortgages are okay, 55% cause a depression. Wait, whut?

Millions and millions of them... And the difference was a hell of a lot more than that...

Millions and millions of them..

Yes, Clinton forced Fanny and Freddy to buy millions of crappy mortgages.
It was awful!

And the difference was a hell of a lot more than that...

Nope. Clinton mandated 50%. Bush raised it to 55%.

Fannie and Freddie had 70% of the market before Bush and the GOP opened the floodgates in 2003. Fannie and Freddie lost half to 65% of of the market.. try and try to remember! You are a waste of time. You learn nothing.

 

[Toddsterpatriot]

Again, as you well know that was BUSH in 2003 as part of his campaign for minority votes in the 2004 election.


Absolutely!
Bush took Clinton's bad policy and made it even worse.

So much that he caused another corrupt GOP depression worldwide. And I expect Trump to do it again if he has 8 years. Why the hell do you vote for these greedy corrupt assholes? Answer you are a brainwashed twit.

So much that he caused another corrupt GOP depression worldwide.

50% crappy mortgages are okay, 55% cause a depression. Wait, whut?

Millions and millions of them... And the difference was a hell of a lot more than that...

Millions and millions of them..

Yes, Clinton forced Fanny and Freddy to buy millions of crappy mortgages.
It was awful!

And the difference was a hell of a lot more than that...

Nope. Clinton mandated 50%. Bush raised it to 55%.

Fannie and Freddie had 70% of the market before Bush and the GOP opened the floodgates in 2003. Fannie and Freddie lost half to 65% of of the market.. try and try to remember! You are a waste of time. You learn nothing.

Fannie and Freddie lost half to 65% of of the market..

Of course they did.
After Franklin Raines and his huge accounting scandal, the government almost put them out of business.

Think how much less bailout money they'd have needed if they hadn't doubled down on their crappy mortgage purchases after they jumped back in.

 

[healthmyths]

Thanks for showing everyone that you're an economic ignoramous. Idiocies like the stuff you posted in your OP should make everyone pause before they consider voting for a Democrat.

You just can’t explain how I am wrong.

The first thing you're wrong about is your belief that corporations can pay labor whatever they like. The price of labor is determined by supply and demand.

So wages should be going up with really low unemployment. Wages are pretty stagnant...

Prove it!
Here is the proof that average salary has increased 5% a year for the past 26 years!
That's my proof. Median average salary increase for past 26 years has been 5% per year Source: SSA..... Average wages, median wages, and wage dispersion

Your link has a chart only going to 2016.

That's true. That's the most current information. Which I'm assuming is a lot better for 2017 and half of 2018 as the economy is doing a lot better.

 

[healthmyths]

Do you liberals keep lying about this because your salaries were low enough in the Bush years that you received little or no benefit from the Bush tax cuts? Is that the problem?

Well, let me tell you: My annual salary in the Bush years was right around $70K-$76K, and I saw a big difference in my take-home pay thanks to the Bush tax cuts.

Did you notice the 2008 corrupt GOP World depression? How about your state and local taxes and fees skyrocketing to make up 4 lower federal aid, super dupe? State and local taxes and fees are much higher 4 the non rich and that has happened the last 35 years of GOP give away to the rich and cuts in services for the rest... Great job scumbag GOP and silly dupes like you.... The rich paying the same percentage as the middle class gives us this ungodly unequal mess, brainwashed functional morons..

The 2008 recession had nothing to do with the Bush tax cuts, but with federal interference in the housing and home loan industries and with the suicidal Sarbanes-Oxley mark-to-market rule (which was quietly ditched under Obama).

The Bush tax cuts *did* pay for themselves. Federal revenue *increased* after the Bush tax cuts--for four years in a row. The problem was that Congress went on a spending spree.

Right and here are the FACTS to back you UP!
Receipts dropped due to the reasons outlined and with the tax cuts ACTUALLY increased.
And as far as the housing bubble-caused recession... Here is what the LEADING democrat during GWB said was the cause!
But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added, "I had been too sanguine about Fannie and Freddie."
Barney Frank admits truth about Fannie


View attachment 202249

Three-quarters of the bailouts were for private lending institutions, cronies and Pals of the corrupt GOP, that the GOP allowed to screw up the whole Market totally. Fannie and Freddie got in late. They lost about 70% of the market in 2003 and 2004 when the damage was done super dupe.

Where are your facts? Your proof other than your wild ass speculation. Who the hell are you that anyone should believe what YOU write?

 

[francoHFW]

Do you liberals keep lying about this because your salaries were low enough in the Bush years that you received little or no benefit from the Bush tax cuts? Is that the problem?

Well, let me tell you: My annual salary in the Bush years was right around $70K-$76K, and I saw a big difference in my take-home pay thanks to the Bush tax cuts.

Did you notice the 2008 corrupt GOP World depression? How about your state and local taxes and fees skyrocketing to make up 4 lower federal aid, super dupe? State and local taxes and fees are much higher 4 the non rich and that has happened the last 35 years of GOP give away to the rich and cuts in services for the rest... Great job scumbag GOP and silly dupes like you.... The rich paying the same percentage as the middle class gives us this ungodly unequal mess, brainwashed functional morons..

The 2008 recession had nothing to do with the Bush tax cuts, but with federal interference in the housing and home loan industries and with the suicidal Sarbanes-Oxley mark-to-market rule (which was quietly ditched under Obama).

The Bush tax cuts *did* pay for themselves. Federal revenue *increased* after the Bush tax cuts--for four years in a row. The problem was that Congress went on a spending spree.

Right and here are the FACTS to back you UP!
Receipts dropped due to the reasons outlined and with the tax cuts ACTUALLY increased.
And as far as the housing bubble-caused recession... Here is what the LEADING democrat during GWB said was the cause!
But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added, "I had been too sanguine about Fannie and Freddie."
Barney Frank admits truth about Fannie


View attachment 202249

Three-quarters of the bailouts were for private lending institutions, cronies and Pals of the corrupt GOP, that the GOP allowed to screw up the whole Market totally. Fannie and Freddie got in late. They lost about 70% of the market in 2003 and 2004 when the damage was done super dupe.

Where are your facts? Your proof other than your wild ass speculation. Who the hell are you that anyone should believe what YOU write?

My facts are everywhere outside your GOP bubble of total BS, super dupe.
Fannie Freddie data - The New York Times
The New York Times › blogs › krugman › ...
Nov 17, 2008 · Isn't the most likely story that, in response to lost market share, Fannie & Freddie began lowering their own lending ...
Fannie Mae, Freddie Mac And The Credit Crisis Of 2008 - Investopedia
Investopedia › articles › economics › fan...
Mar 19, 2018 · When the housing bubble of 2001-2007 burst, it caused a mortgage ... For most of the twentieth century, mortgage lending took place mostly at banks, thrifts, credit ...


Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown - The Daily Beast
The Daily Beast › wall-street-not-fannie-a...
Jan 17, 2011 · Ask many Americans who's to blame for the nation's .... Fannie and Freddie lost market share to Wall Street during the ...

 

[healthmyths]

Did you notice the 2008 corrupt GOP World depression? How about your state and local taxes and fees skyrocketing to make up 4 lower federal aid, super dupe? State and local taxes and fees are much higher 4 the non rich and that has happened the last 35 years of GOP give away to the rich and cuts in services for the rest... Great job scumbag GOP and silly dupes like you.... The rich paying the same percentage as the middle class gives us this ungodly unequal mess, brainwashed functional morons..

The 2008 recession had nothing to do with the Bush tax cuts, but with federal interference in the housing and home loan industries and with the suicidal Sarbanes-Oxley mark-to-market rule (which was quietly ditched under Obama).

The Bush tax cuts *did* pay for themselves. Federal revenue *increased* after the Bush tax cuts--for four years in a row. The problem was that Congress went on a spending spree.

Right and here are the FACTS to back you UP!
Receipts dropped due to the reasons outlined and with the tax cuts ACTUALLY increased.
And as far as the housing bubble-caused recession... Here is what the LEADING democrat during GWB said was the cause!
But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added, "I had been too sanguine about Fannie and Freddie."
Barney Frank admits truth about Fannie


View attachment 202249

Three-quarters of the bailouts were for private lending institutions, cronies and Pals of the corrupt GOP, that the GOP allowed to screw up the whole Market totally. Fannie and Freddie got in late. They lost about 70% of the market in 2003 and 2004 when the damage was done super dupe.

Where are your facts? Your proof other than your wild ass speculation. Who the hell are you that anyone should believe what YOU write?

My facts are everywhere outside your GOP bubble of total BS, super dupe.
Fannie Freddie data - The New York Times
The New York Times › blogs › krugman › ...
Nov 17, 2008 · Isn't the most likely story that, in response to lost market share, Fannie & Freddie began lowering their own lending ...
Fannie Mae, Freddie Mac And The Credit Crisis Of 2008 - Investopedia
Investopedia › articles › economics › fan...
Mar 19, 2018 · When the housing bubble of 2001-2007 burst, it caused a mortgage ... For most of the twentieth century, mortgage lending took place mostly at banks, thrifts, credit ...


Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown - The Daily Beast
The Daily Beast › wall-street-not-fannie-a...
Jan 17, 2011 · Ask many Americans who's to blame for the nation's .... Fannie and Freddie lost market share to Wall Street during the ...

Very good! Now explain to me how GWB was at fault for the Fannie&Freddie Credit Crisis of 2008?

You said it yourself quoting Investopedia.... lost share Fannie & Freddie lowered their standards.

And guess who warned about Fannie & Freddie

President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable
housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae,"
New York Times, 9/11/03)
* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also
ignored the President's warnings and called on him to "immediately reconsider his ill-advised"
position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)
http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

And remember Barney Frank ADMITTED that was the case!
Barney Frank Comes Home to the Facts By Larry Kudlow August 21, 2010

But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added, "I had been too sanguine about Fannie and Freddie."

Barney Frank admits truth about Fannie

And remember Congress was controlled by Democrats in 2007 and 2008!

 

[healthmyths]

Do you liberals keep lying about this because your salaries were low enough in the Bush years that you received little or no benefit from the Bush tax cuts? Is that the problem?

Well, let me tell you: My annual salary in the Bush years was right around $70K-$76K, and I saw a big difference in my take-home pay thanks to the Bush tax cuts.

Did you notice the 2008 corrupt GOP World depression? How about your state and local taxes and fees skyrocketing to make up 4 lower federal aid, super dupe? State and local taxes and fees are much higher 4 the non rich and that has happened the last 35 years of GOP give away to the rich and cuts in services for the rest... Great job scumbag GOP and silly dupes like you.... The rich paying the same percentage as the middle class gives us this ungodly unequal mess, brainwashed functional morons..

The 2008 recession had nothing to do with the Bush tax cuts, but with federal interference in the housing and home loan industries and with the suicidal Sarbanes-Oxley mark-to-market rule (which was quietly ditched under Obama).

The Bush tax cuts *did* pay for themselves. Federal revenue *increased* after the Bush tax cuts--for four years in a row. The problem was that Congress went on a spending spree.

Right and here are the FACTS to back you UP!
Receipts dropped due to the reasons outlined and with the tax cuts ACTUALLY increased.
And as far as the housing bubble-caused recession... Here is what the LEADING democrat during GWB said was the cause!
But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added, "I had been too sanguine about Fannie and Freddie."
Barney Frank admits truth about Fannie


View attachment 202249

Three-quarters of the bailouts were for private lending institutions, cronies and Pals of the corrupt GOP, that the GOP allowed to screw up the whole Market totally. Fannie and Freddie got in late. They lost about 70% of the market in 2003 and 2004 when the damage was done super dupe.

And guess who benefited when TARP was repaid??? Obama and he blew the TARP repayments with profits!

Bailout Scorecard | Eye on the Bailout | ProPublica

 

[francoHFW]

So much that he caused another corrupt GOP depression worldwide. And I expect Trump to do it again if he has 8 years. Why the hell do you vote for these greedy corrupt assholes? Answer you are a brainwashed twit.

So much that he caused another corrupt GOP depression worldwide.

50% crappy mortgages are okay, 55% cause a depression. Wait, whut?

Millions and millions of them... And the difference was a hell of a lot more than that...

Millions and millions of them..

Yes, Clinton forced Fanny and Freddy to buy millions of crappy mortgages.
It was awful!

And the difference was a hell of a lot more than that...

Nope. Clinton mandated 50%. Bush raised it to 55%.

Fannie and Freddie had 70% of the market before Bush and the GOP opened the floodgates in 2003. Fannie and Freddie lost half to 65% of of the market.. try and try to remember! You are a waste of time. You learn nothing.

Fannie and Freddie lost half to 65% of of the market..

Of course they did.
After Franklin Raines and his huge accounting scandal, the government almost put them out of business.

Think how much less bailout money they'd have needed if they hadn't doubled down on their crappy mortgage purchases after they jumped back in.

Under GOP pressure to do so, dipstick.

 

[francoHFW]

The 2008 recession had nothing to do with the Bush tax cuts, but with federal interference in the housing and home loan industries and with the suicidal Sarbanes-Oxley mark-to-market rule (which was quietly ditched under Obama).

The Bush tax cuts *did* pay for themselves. Federal revenue *increased* after the Bush tax cuts--for four years in a row. The problem was that Congress went on a spending spree.

Right and here are the FACTS to back you UP!
Receipts dropped due to the reasons outlined and with the tax cuts ACTUALLY increased.
And as far as the housing bubble-caused recession... Here is what the LEADING democrat during GWB said was the cause!
But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added, "I had been too sanguine about Fannie and Freddie."
Barney Frank admits truth about Fannie


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Three-quarters of the bailouts were for private lending institutions, cronies and Pals of the corrupt GOP, that the GOP allowed to screw up the whole Market totally. Fannie and Freddie got in late. They lost about 70% of the market in 2003 and 2004 when the damage was done super dupe.

Where are your facts? Your proof other than your wild ass speculation. Who the hell are you that anyone should believe what YOU write?

My facts are everywhere outside your GOP bubble of total BS, super dupe.
Fannie Freddie data - The New York Times
The New York Times › blogs › krugman › ...
Nov 17, 2008 · Isn't the most likely story that, in response to lost market share, Fannie & Freddie began lowering their own lending ...
Fannie Mae, Freddie Mac And The Credit Crisis Of 2008 - Investopedia
Investopedia › articles › economics › fan...
Mar 19, 2018 · When the housing bubble of 2001-2007 burst, it caused a mortgage ... For most of the twentieth century, mortgage lending took place mostly at banks, thrifts, credit ...


Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown - The Daily Beast
The Daily Beast › wall-street-not-fannie-a...
Jan 17, 2011 · Ask many Americans who's to blame for the nation's .... Fannie and Freddie lost market share to Wall Street during the ...

Very good! Now explain to me how GWB was at fault for the Fannie&Freddie Credit Crisis of 2008?

You said it yourself quoting Investopedia.... lost share Fannie & Freddie lowered their standards.

And guess who warned about Fannie & Freddie

President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable
housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae,"
New York Times, 9/11/03)
* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also
ignored the President's warnings and called on him to "immediately reconsider his ill-advised"
position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)
http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

And remember Barney Frank ADMITTED that was the case!
Barney Frank Comes Home to the Facts By Larry Kudlow August 21, 2010

But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added, "I had been too sanguine about Fannie and Freddie."

Barney Frank admits truth about Fannie

And remember Congress was controlled by Democrats in 2007 and 2008!

Fannie and Freddie were never the problem, brainwashed functional jackass. But the GOP hates Fannie and always try to destroy it with lies like that...