Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Can you name a single politician that has accepted responsibility for any of the problems our nation experiences?Wall Street wanted to limit the GSE's portfolios so it could get more market share. Bush, acting as Wall Street's bitch, tried to get the GSEs portfolios capped. The Democrats stopped this plan.Sorry, that's no excuse. Bush was The President and we need to evaluate any president on what they did or did not do, not on what they say.
Dem's in congress block Bush repeated efforts to deal with the problem and you blame Bush? That sounds about typical for dishonest Democrats.
No one was acting out of pure motives.
No one.
I blame everyone for the housing bubble, Rep's, Dem's, and the foolish citizens who purchased more home than they could afford, took out 2nd mortgages and spent like there's no tomorrow. What I have a problem with is lying scum Democrats in congress who acted like they had nothing to do with the whole mess. I have never seen such a group of snakes as Democrats.
The real victims of the housing bubble? The banks. Yes, the banks. They were threatened by the government if they did not show "equality" in lending and were forced to write loans to those that would likely default....
And then, of course, there were the ARM loans...people loved the idea of refinancing, taking a mess of cash out, and having their payments LOWERED for 5 years....and they all believed they would be able to refinance when the ARM expired....so they spent the cash out, had a field day....and then their LTV's changed for the worse, and they couldn't refinance...their rates shot up to prime plus whatever, and they couldn't afford it.
But they lived the high life for 5 years.....and now they are...dare I say.....VICTIMS of their own greed.
It does not take rocket science to understand what really took place.
Can you name a single politician that has accepted responsibility for any of the problems our nation experiences?Wall Street wanted to limit the GSE's portfolios so it could get more market share. Bush, acting as Wall Street's bitch, tried to get the GSEs portfolios capped. The Democrats stopped this plan.Sorry, that's no excuse. Bush was The President and we need to evaluate any president on what they did or did not do, not on what they say.
Dem's in congress block Bush repeated efforts to deal with the problem and you blame Bush? That sounds about typical for dishonest Democrats.
No one was acting out of pure motives.
No one.
I blame everyone for the housing bubble, Rep's, Dem's, and the foolish citizens who purchased more home than they could afford, took out 2nd mortgages and spent like there's no tomorrow. What I have a problem with is lying scum Democrats in congress who acted like they had nothing to do with the whole mess. I have never seen such a group of snakes as Democrats.
The real victims of the housing bubble? The banks. Yes, the banks. They were threatened by the government if they did not show "equality" in lending and were forced to write loans to those that would likely default....
And then, of course, there were the ARM loans...people loved the idea of refinancing, taking a mess of cash out, and having their payments LOWERED for 5 years....and they all believed they would be able to refinance when the ARM expired....so they spent the cash out, had a field day....and then their LTV's changed for the worse, and they couldn't refinance...their rates shot up to prime plus whatever, and they couldn't afford it.
But they lived the high life for 5 years.....and now they are...dare I say.....VICTIMS of their own greed.
It does not take rocket science to understand what really took place.
LMAO...Sorry, that's no excuse. Bush was The President and we need to evaluate any president on what they did or did not do, not on what they say.
Dem's in congress block Bush repeated efforts to deal with the problem and you blame Bush? That sounds about typical for dishonest Democrats.
What repeated efforts?
Was a bill drafted and never put to an up or down vote?
Did President Bush stand before The Congress during a State of the Union Address and let the American People and their members of Congress know that the state of our economy was at risk?
Did President Bush send out his Sect. of the Treasury and other economic advisers to warn the American people to beware (with a similar warning of mushroom clouds in boardrooms)?
Did President Bush raise taxes to pay for the war on terror (Homeland Security and the invasion and occupation of Iraq)?
Did he ask the Attorney General to investigate potential abuses of the CRA (or was the AG too busy vetting the religious bent of possible US Attorney's with the help of Monica Goodling
Did bush make congress do their job"?
No. I guess he could have done better at that.
But as a result, it sure as hell aint congresses fault.
Hey sparky...congress was not a bunch of children. They were a bunch of well paid well educated adults who promised to do a good job if they were elected.
But hey...its not their fault.....Big Daddy did not make them do their job.
Do you not see how your obsession with the failures of Bush has clouded your judgment?
Yes I think we are all well aware of your Bush obsession. lol
The bubble and the crash happened on his watch.
The OP is a pathetic attempt to retroactively blame the crash on Obama, which is as insanely laughable as it gets.
The OP is pointing out government's responsibility for enabling the mess in the first place. This stretches back to the Clinton administration and yes Bush has some responsibility as well. Obviously this mess wasn't Obama's fault as president, he has some responsibility as a participant in enabling the mess that's what the OP has documented, but so do millions of Americans. What I have a problem with is Democrats acting like they are clean as a fresh winter snow when they were hip deep in this mess.
In a nutshell, people signed without knowing what they are signing. I have attended thousands of closings.....whereas it is rare that an attorney is present at a refinance closing, I don't EVER recall an attorney not being involved in a purchase.....an attorney drafts the contract, goes back and forth with the opposing attorney as it pertains to minor particulars; reviews the settlement statement (HUD) prior to the closing, and then explains the documents to the client as they sign.Can you name a single politician that has accepted responsibility for any of the problems our nation experiences?Wall Street wanted to limit the GSE's portfolios so it could get more market share. Bush, acting as Wall Street's bitch, tried to get the GSEs portfolios capped. The Democrats stopped this plan.Sorry, that's no excuse. Bush was The President and we need to evaluate any president on what they did or did not do, not on what they say.
Dem's in congress block Bush repeated efforts to deal with the problem and you blame Bush? That sounds about typical for dishonest Democrats.
No one was acting out of pure motives.
No one.
I blame everyone for the housing bubble, Rep's, Dem's, and the foolish citizens who purchased more home than they could afford, took out 2nd mortgages and spent like there's no tomorrow. What I have a problem with is lying scum Democrats in congress who acted like they had nothing to do with the whole mess. I have never seen such a group of snakes as Democrats.
The real victims of the housing bubble? The banks. Yes, the banks. They were threatened by the government if they did not show "equality" in lending and were forced to write loans to those that would likely default....
And then, of course, there were the ARM loans...people loved the idea of refinancing, taking a mess of cash out, and having their payments LOWERED for 5 years....and they all believed they would be able to refinance when the ARM expired....so they spent the cash out, had a field day....and then their LTV's changed for the worse, and they couldn't refinance...their rates shot up to prime plus whatever, and they couldn't afford it.
But they lived the high life for 5 years.....and now they are...dare I say.....VICTIMS of their own greed.
It does not take rocket science to understand what really took place.
No it doesn't. Sales (and that is what the banks engaged in) is to get someone to buy to benefit the seller, rarely the buyer. Telling someone who is not familiar with the process the broker/banker tandem convinced the unsophisticated buyer that the home they want is really affordable. Simply sign here, and here and here and here (as anyone who has ever secured a loan understands, even when they don't really understand what they are signing) and come back in five years and we'll refinance the loan, or you can sell the home and make a huge profit.
Hell, the banker had nice suit and a great smile, and the broker drove a new and shiny SUV when they looked at the home that could be theirs. They were assured the price of the home they looked at would continue to more expensive if they didn't act now, and in the future they could use the rising value to fund their retirement or even buy that vacation home in the mountains.
I guess Bush should have used the same dictatorial power that Obama has used and done it all on his lonesome. Silly him for trying to follow the COTUS.
yeah, I think the evidence is clear that Slick was more than willing to repeal Glass Steagall. It's true that he got the CRA language, which the faux conservative latch onto as a bogus Reichstag reason for the entire thing (yes, the poor really did bring down Lehman Bros, of course the did Scarlett), but the dems were raising more money from Wall St than the gop. Rubin was the spear carrier for the repeal folks.I agree, but even Slick has acknowledged that he should not have gone along with repeal of Glass Segal,
Right there it is. When I wrote loans, all the LO's I worked with were wanting Slick to veto that bit of legislation.
But he didn't and the door was opened and greed ruled the day. The rest is history. Revisionist history in some cases.
I believe slick was looking to appease the Republicans pushing this repeal because Clinton knew he needed some slack for his actions and he bought that by signing that bill.
Yes I think we are all well aware of your Bush obsession. lol
The bubble and the crash happened on his watch.
The OP is a pathetic attempt to retroactively blame the crash on Obama, which is as insanely laughable as it gets.
The OP is pointing out government's responsibility for enabling the mess in the first place. This stretches back to the Clinton administration and yes Bush has some responsibility as well. Obviously this mess wasn't Obama's fault as president, he has some responsibility as a participant in enabling the mess that's what the OP has documented, but so do millions of Americans. What I have a problem with is Democrats acting like they are clean as a fresh winter snow when they were hip deep in this mess.
LMAO...Sorry, that's no excuse. Bush was The President and we need to evaluate any president on what they did or did not do, not on what they say.
Dem's in congress block Bush repeated efforts to deal with the problem and you blame Bush? That sounds about typical for dishonest Democrats.
What repeated efforts?
Was a bill drafted and never put to an up or down vote?
Did President Bush stand before The Congress during a State of the Union Address and let the American People and their members of Congress know that the state of our economy was at risk?
Did President Bush send out his Sect. of the Treasury and other economic advisers to warn the American people to beware (with a similar warning of mushroom clouds in boardrooms)?
Did President Bush raise taxes to pay for the war on terror (Homeland Security and the invasion and occupation of Iraq)?
Did he ask the Attorney General to investigate potential abuses of the CRA (or was the AG too busy vetting the religious bent of possible US Attorney's with the help of Monica Goodling
Did bush make congress do their job"?
No. I guess he could have done better at that.
But as a result, it sure as hell aint congresses fault.
Hey sparky...congress was not a bunch of children. They were a bunch of well paid well educated adults who promised to do a good job if they were elected.
But hey...its not their fault.....Big Daddy did not make them do their job.
Do you not see how your obsession with the failures of Bush has clouded your judgment?
In a nutshell, people signed without knowing what they are signing. I have attended thousands of closings.....whereas it is rare that an attorney is present at a refinance closing, I don't EVER recall an attorney not being involved in a purchase.....an attorney drafts the contract, goes back and forth with the opposing attorney as it pertains to minor particulars; reviews the settlement statement (HUD) prior to the closing, and then explains the documents to the client as they sign.Can you name a single politician that has accepted responsibility for any of the problems our nation experiences?Wall Street wanted to limit the GSE's portfolios so it could get more market share. Bush, acting as Wall Street's bitch, tried to get the GSEs portfolios capped. The Democrats stopped this plan.Dem's in congress block Bush repeated efforts to deal with the problem and you blame Bush? That sounds about typical for dishonest Democrats.
No one was acting out of pure motives.
No one.
I blame everyone for the housing bubble, Rep's, Dem's, and the foolish citizens who purchased more home than they could afford, took out 2nd mortgages and spent like there's no tomorrow. What I have a problem with is lying scum Democrats in congress who acted like they had nothing to do with the whole mess. I have never seen such a group of snakes as Democrats.
The real victims of the housing bubble? The banks. Yes, the banks. They were threatened by the government if they did not show "equality" in lending and were forced to write loans to those that would likely default....
And then, of course, there were the ARM loans...people loved the idea of refinancing, taking a mess of cash out, and having their payments LOWERED for 5 years....and they all believed they would be able to refinance when the ARM expired....so they spent the cash out, had a field day....and then their LTV's changed for the worse, and they couldn't refinance...their rates shot up to prime plus whatever, and they couldn't afford it.
But they lived the high life for 5 years.....and now they are...dare I say.....VICTIMS of their own greed.
It does not take rocket science to understand what really took place.
No it doesn't. Sales (and that is what the banks engaged in) is to get someone to buy to benefit the seller, rarely the buyer. Telling someone who is not familiar with the process the broker/banker tandem convinced the unsophisticated buyer that the home they want is really affordable. Simply sign here, and here and here and here (as anyone who has ever secured a loan understands, even when they don't really understand what they are signing) and come back in five years and we'll refinance the loan, or you can sell the home and make a huge profit.
Hell, the banker had nice suit and a great smile, and the broker drove a new and shiny SUV when they looked at the home that could be theirs. They were assured the price of the home they looked at would continue to more expensive if they didn't act now, and in the future they could use the rising value to fund their retirement or even buy that vacation home in the mountains.
You are making it something it never was...it was not a broker/banker versus an uneducated victim.
The uneducated "victim" had the advantage of legal counsel.
Yes I think we are all well aware of your Bush obsession. lol
The bubble and the crash happened on his watch.
The OP is a pathetic attempt to retroactively blame the crash on Obama, which is as insanely laughable as it gets.
The OP is pointing out government's responsibility for enabling the mess in the first place. This stretches back to the Clinton administration and yes Bush has some responsibility as well. Obviously this mess wasn't Obama's fault as president, he has some responsibility as a participant in enabling the mess that's what the OP has documented, but so do millions of Americans. What I have a problem with is Democrats acting like they are clean as a fresh winter snow when they were hip deep in this mess.
Obama's ties to ACORN gives him culpability.
True....but they also knew that those loans were worthless if FM did not find them as having value....so to them, it was worth the risk. Don't get me wrong, they should never have been bailed out.....but FM (for all intents and purposes, run by the government) failed them miserably.Can you name a single politician that has accepted responsibility for any of the problems our nation experiences?Wall Street wanted to limit the GSE's portfolios so it could get more market share. Bush, acting as Wall Street's bitch, tried to get the GSEs portfolios capped. The Democrats stopped this plan.Sorry, that's no excuse. Bush was The President and we need to evaluate any president on what they did or did not do, not on what they say.
Dem's in congress block Bush repeated efforts to deal with the problem and you blame Bush? That sounds about typical for dishonest Democrats.
No one was acting out of pure motives.
No one.
I blame everyone for the housing bubble, Rep's, Dem's, and the foolish citizens who purchased more home than they could afford, took out 2nd mortgages and spent like there's no tomorrow. What I have a problem with is lying scum Democrats in congress who acted like they had nothing to do with the whole mess. I have never seen such a group of snakes as Democrats.
The real victims of the housing bubble? The banks. Yes, the banks. They were threatened by the government if they did not show "equality" in lending and were forced to write loans to those that would likely default....
And then, of course, there were the ARM loans...people loved the idea of refinancing, taking a mess of cash out, and having their payments LOWERED for 5 years....and they all believed they would be able to refinance when the ARM expired....so they spent the cash out, had a field day....and then their LTV's changed for the worse, and they couldn't refinance...their rates shot up to prime plus whatever, and they couldn't afford it.
But they lived the high life for 5 years.....and now they are...dare I say.....VICTIMS of their own greed.
It does not take rocket science to understand what really took place.
As soon as government took the risk out of sub-prime loans many banks piled on to cash in running non-stop ads, its not like they were dragged into this kicking and screaming.
if you are too stupid to ask your attorney what you are signing, you are too stupid to own a home.If youre too stupid to understand a mortgage, youre too stupid to own a home.....
Adjustable-Rate Mortgages Fuel Foreclosure Crisis NPR
Adjustable-Rate Mortgages Fuel Foreclosure Crisis
New foreclosure filings hit an all-time high this spring. And that was before the latest turmoil in the mortgage market.
Defaults are heavily concentrated in seven states, according to the Mortgage Bankers Association. Three of those — Michigan, Indiana and Ohio — have been hit with heavy job losses. But the other four — California, Arizona, Nevada and Florida — have a different problem.
"What's going on in these four states is, first of all, they tend to have very high levels of adjustable-rate mortgages," says Doug Duncan, chief economist for the association.
When those mortgages adjust upward, some people are unable to make the payments, and the problem is likely to continue for at least another year.
if you are too stupid to ask your attorney what you are signing, you are too stupid to own a home.If youre too stupid to understand a mortgage, youre too stupid to own a home.....
And the next we will hear is "not everyone can afford an attorney"....well, if you cant afford $2,000 to ensure you are doing the right thing in a $200,000 transaction, you should not engage in the $200,000 transaction.
If youre too stupid to understand a mortgage, youre too stupid to own a home.....
