The Real Causes Of The Great Recession

[LoneLaugher]

Normal reading speed is 200 - 250 wpm.
I've tested out at 500 wpm with about 60% comprehension, so I don't think you had the time to comprehend all of that information dude.

Why must you lie?

 

[Derideo_Te]

The co-conspirators simply used communists and followers of Saul Alinsky to do their dirty work.

The Commies blackmailed the Wall Street Casino Bosses into funding subprime mortgages and then selling them off as collaterized derivatives?

That is so far beyond mega stupid that it is in a category all of it's own!

 

[g5000]

The GSEs used to dominate the secondary mortgage market. Something like 90 percent of market share.

Wall Street could not abide that, so when the GSEs suffered some scandals in the early 00s, Wall Street made their move to capture the secondary market. They had gotten themselves deregulated with the CFMA and FSMA. The top five broker-dealers went to the SEC and were able to get their capital requirements reduced by a unanimous decision.

By 2005, the GSEs had lost their dominance, shrinking to less than 50 percent of market share.

And that was just the US.

These same financial derivatives were being used all over the world to get $70 trillion of investment money into borrowers' hands. College endowment funds, public employee retirement funds, city treasury bond issues, insurance company premiums, IRAs, 401ks, Saudi princes, private wealth management funds. All of these were sinking their money into CDOs being sold by broker-dealers.

A broker-dealer gets fees for every tranche he sells. Their greed drove them to create as many CDOs as possible so the music could keep playing. And that meant finding more and more and more borrowers and getting them to borrow as much as possible.

That's why your neighbor bought a McMansion and then got a HELOC to buy a boat and a trip to Disneyland.

Because as he was taking out a loan for a bigger house than he could chew, the banker was pushing the loan application over to him with one hand, and a HELOC application to him with the other hand!

Trying to blame the negroes for your dumbass white neighbors getting themselves in over their heads is racist. Oh yes it is. Sorry, but that is the truth.

That's what people do. When they royally fuck up, they look for a scapegoat. Anyone but themselves. "Blame the Jews. Blame the negroes. Anybody but ME!!!"

Were there demagogues in the black community taking credit for this sudden massive easing of lending? Of course. But they weren't driving the cart, kids. Wall Street was.

 

[mudwhistle]

More for you rubes to read who think the banks were forced to make bad loans: Final Rule Alternative Net Capital Requirements for Broker-Dealers That Are Part of Consolidated Supervised Entities Rel. No. 34-49830 June 8 2004

Maybe you could cut to the chase.

BTW, it really doesn't matter what rule or regulation is in place. You can't stop some people from finding a way around them.

It's like the argument from gun-grabbers, taking guns from law-abiding citizens won't end crime. But it will decrease crime. Who cares that historically this never proved to be true. Doesn't matter that the gun-grabbers pick the worst possible time to call for getting rid of them either. They want everyone to think that a law will protect you from violence or save your life.

Same thing goes for any declaration from the government. It has become painfully obvious that rules and regulations don't matter to some people. Rules are for the sucks that vote for our politicians. Politicians have their own set of rules, and Obama has decided that even those rules don't apply to him either.

When Obamcaare was being voted on and passed Greenbeard often pointed out various assurances in the law that were meant to dissuade any anxiety. Now that revelations from Johnathan Gruber have come to light, we find out that all of that paperwork was worth less than the paper it was printed on.

 

[mudwhistle]

The co-conspirators simply used communists and followers of Saul Alinsky to do their dirty work.

The Commies blackmailed the Wall Street Casino Bosses into funding subprime mortgages and then selling them off as collaterized derivatives?

That is so far beyond mega stupid that it is in a category all of it's own!

Rule #5 of Saul Alinsky's Rules For Radicals:

“Ridicule is man’s most potent weapon.”

Then there's this:
“Pick the target, freeze it, personalize it, and polarize it.” Cut off the support network and isolate the target from sympathy. Go after people and not institutions; people hurt faster than institutions​

 

[Derideo_Te]

The co-conspirators simply used communists and followers of Saul Alinsky to do their dirty work.

The Commies blackmailed the Wall Street Casino Bosses into funding subprime mortgages and then selling them off as collaterized derivatives?

That is so far beyond mega stupid that it is in a category all of it's own!

Rule #5 of Saul Alinsky's Rules For Radicals:

“Ridicule is man’s most potent weapon.”

Then there's this:
“Pick the target, freeze it, personalize it, and polarize it.” Cut off the support network and isolate the target from sympathy. Go after people and not institutions; people hurt faster than institutions​

Not my problem that you believe ridiculous BS like the claptrap you posted in the OP. I was going to suggest that you try reading the links that G5000 provided and then I realized that would be pointless because you lack the ability to comprehend any of them.

 

[mudwhistle]

The co-conspirators simply used communists and followers of Saul Alinsky to do their dirty work.

The Commies blackmailed the Wall Street Casino Bosses into funding subprime mortgages and then selling them off as collaterized derivatives?

That is so far beyond mega stupid that it is in a category all of it's own!

Rule #5 of Saul Alinsky's Rules For Radicals:

“Ridicule is man’s most potent weapon.”

Then there's this:
“Pick the target, freeze it, personalize it, and polarize it.” Cut off the support network and isolate the target from sympathy. Go after people and not institutions; people hurt faster than institutions​

Not my problem that you believe ridiculous BS like the claptrap you posted in the OP. I was going to suggest that you try reading the links that G5000 provided and then I realized that would be pointless because you lack the ability to comprehend any of them.

Dude, you're only making yourself look foolish.
Both you and G5000 never thought that using race goes a long way with the wealthy. Al Sharpton pays a visit to Sony and before you know it they start jumping through hoops.

I could give a shit what evidence you or anyone produces that shows this can't happen. We both know you're lying.

 

[edthecynic]

The revisions also allowed for the first time the securitization of CRA-regulated loans containing subprime mortgages.

This is a perfect example of how professional liars lie. There is always a germ of "truth" in their lie, but what the professional liar leaves out of the "whole truth" deliberately misleads the gullible.

While the CRA did contain "subprime" mortgages, they were completely different from the highly speculative, high risk, high interest Bush subprime mortgages. CRA subprimes were 2 points above the prime rate but if the borrower paid on time for 2 years they adjusted DOWN to prime. The Bush subprimes started at over 2 points above prime and adjusted UP over time.

The professional liars count on you seeing the word "subprime" and assuming all subprime mortgages are the same!

 

[mudwhistle]

What's really hilarious is these leftists always act like just because they made fun of somebody the message has been obliterated.

Total hogwash of course.

 

[mudwhistle]

The revisions also allowed for the first time the securitization of CRA-regulated loans containing subprime mortgages.

This is a perfect example of how professional liars lie. There is always a germ of "truth" in their lie, but what the professional liar leaves out of the "whole truth" deliberately misleads the gullible.

While the CRA did contain "subprime" mortgages, they were completely different from the highly speculative, high risk, high interest Bush subprime mortgages. CRA subprimes were 2 points above the prime rate but if the borrower paid on time for 2 years they adjusted DOWN to prime. The Bush subprimes started at over 2 points above prime and adjusted UP over time.

The professional liars count on you seeing the word "subprime" and assuming all subprime mortgages are the same!

Professional liars know what the truth is and avoid it. They instead try to focus on something that is totally irrelevant. My understanding in the field is there a countless ways of packaging subprime mortgages. But you knew that didn't you.

 

[zeke]

Hey muddy, can't you just cut to the chase and say the EVERYTHING bad that has EVER happened to the USA is the fault of Obama.

Make it easy on yourself dude. Spend your time speed reading more worthwhile material.

 

[NYcarbineer]

All false. But, hey, thanks for reinforcing the fact that conservatives are racist and hate the poor.

TRANSLATION: I can't refute any of it. So I'll tell lies and attack the messenger instead, and hope somebody believes me even though I can't back up what I say.

Poor black people did not cause the real estate meltdown.

 

[mudwhistle]

ACORN is still at it. They call themselves Affordable Housing Centers of America. They have several offices all over the country. Here's an online site: GuideStar Exchange Reports for Affordable Housing Centers of America

 

[mudwhistle]

Hey muddy, can't you just cut to the chase and say the EVERYTHING bad that has EVER happened to the USA is the fault of Obama.

Make it easy on yourself dude. Spend your time speed reading more worthwhile material.

Thanks for the input shitstain.

 

[Nutz]

I guess all of those white people who bought more than they could afford are off the hook now.

 

[mudwhistle]

More links to ACORN sites:

Chicago, IL
Affordable Housing Centers Of America 650 S Clark Chicago IL 60304 LowIncomeHousing.us

Orlando, FL
Affordable Housing Centers Of America Orlando Fl 122 E. Colonial Dr. 100 Orlando FL 32801 LowIncomeHousing.us

Fresno, CA
Affordable Housing Centers Of America Fresno Ca Fresno Agency that provides HUD Approved Housing Assistance Programs

Pennsylvania
Home - Affordable Housing Centers of Pennsylvania

 

[edthecynic]

What's really hilarious is these leftists always act like just because they made fun of somebody the message has been obliterated.

Total hogwash of course.

Community Reinvestment Act had nothing to do with subprime crisis - BusinessWeek

CRA loans carried lower rates than other subprime loans and were less likely to end up securitized into the mortgage-backed securities that have caused so many losses, according to a recent study by the law firm Traiger & Hinckley (PDF file here).

 

[Soggy in NOLA]

The revisions also allowed for the first time the securitization of CRA-regulated loans containing subprime mortgages.

This is a perfect example of how professional liars lie. There is always a germ of "truth" in their lie, but what the professional liar leaves out of the "whole truth" deliberately misleads the gullible.

While the CRA did contain "subprime" mortgages, they were completely different from the highly speculative, high risk, high interest Bush subprime mortgages. CRA subprimes were 2 points above the prime rate but if the borrower paid on time for 2 years they adjusted DOWN to prime. The Bush subprimes started at over 2 points above prime and adjusted UP over time.

The professional liars count on you seeing the word "subprime" and assuming all subprime mortgages are the same!

What is a Bush subprime?

 

[mudwhistle]

The revisions also allowed for the first time the securitization of CRA-regulated loans containing subprime mortgages.

This is a perfect example of how professional liars lie. There is always a germ of "truth" in their lie, but what the professional liar leaves out of the "whole truth" deliberately misleads the gullible.

While the CRA did contain "subprime" mortgages, they were completely different from the highly speculative, high risk, high interest Bush subprime mortgages. CRA subprimes were 2 points above the prime rate but if the borrower paid on time for 2 years they adjusted DOWN to prime. The Bush subprimes started at over 2 points above prime and adjusted UP over time.

The professional liars count on you seeing the word "subprime" and assuming all subprime mortgages are the same!

What is a Bush subprime?

An invention of his imagination....

 

[JoeNormal]

The CRA meme has been thoroughly debunked. It was a bullshit meme started about two weeks after Lehman Brothers collapsed by idiots at Fox News who had no clue what was going on, and who still have no clue.

Lehman was not subject to the CRA. Neither was Bear Stearns, nor Goldman Sachs, nor JP Morgan, nor Morgan Stanley, nor the Royal Bank of Scotland, nor the Allied Irish Bank, nor the entire country of Iceland or the United Kingdom or German or Italy or Spain or Ireland.

This was GLOBAL derivatives bubble, you stupid, stupid, stupid fucks.

Did you somehow think the negroes of Iceland caused their banks to crash?

When all those foreclosure signs went up in your white middle class suburban town, did you look at your foreclosed neighbor and say to yourself, "Gee, I had no idea Biff was a negro"?

Idiots.

Great post.

Not really, because if he had read my post, or the links I provided, all of the banks that have been blamed for this were simply all that important. Countrywide was one of the loan associations mentioned along with Fannie Mae.

But yet again G5000 attempts to act like he knows everything like he's privy to inside information. He's simply trying to deflect the argument away from the main theme of the OP. Sure it was global, because the powers that be wanted it to effect everyone. However, what happens in an economy the size of the United States effects everyone.

Race is always the easiest way to deflect or change the subject. Don't forget to throw out the race-card.

It's not that a negro had something to do with this, but the fact that ACORN and their associates did. The co-conspirators simply used communists and followers of Saul Alinsky to do their dirty work. I figure after a few pages of comments the OP would be totally forgotten. We can't have people concentrating on the meat of the subject for sure. It's not a coincidence that Obama was running for president when this happened. His organization orchestrated the economic collapse in the first place. An invented crisis that ended a couple of months after he took the oath. His organization creates one crisis after another to accomplish their goals. It's a pattern that is well establish people. It's not our imaginations like this prick G5000 claims. I don't know how many times I've totally debunked his nonsensical offerings.

Zero times as far as I can see.