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So that chart there proves GSE loans performed much better than all other loans during the mortgage bubble. So that undermines your point, does it not?
The sub-prime loans did not cause the crash.again, ignore the way lenders had to give out loans. mandated by congress. yep. completely ignore that so that you can make a statement. dude, you're wrong. sorry.Yes, people having money to spend did contribute to growth in the housing market.
Right, but we learned that the growth in the housing market was all in subprime loans with "dramatically weakened" standards. So I'm confused what position you're staking here, that tax cuts were responsible for the housing market or weren't? BTW - household debt skyrocketed right after the Bush tax cuts. So "letting people keep more of what they earned" is really bullshit, isn't it? If it's not, how come household debt skyrocketed as soon as the tax cuts were passed?
That, in and of itself was a good thing. The bad thing was the approving of home loans to people that really could not afford the payments on the loans.
Yeah, that's not true either. Low-income loans are not what caused the crisis. Only one of the top 25 lenders during the subprime bubble were subject to CRA rules. So what were these subprime loans for? Not for poor people, that's for sure. Loans for poor people would have to have been subject to CRA rules. But the overwhelming majority of loans issued from 2004-7 were not subject to CRA rules, and weren't even underwritten by GSE's.
Take a look at this chart and tell me what you see from 2004-7:
Or this one:
So when I see that chart, I see a major shift in lending from 2003-7, do you?
The tax cuts were not the cause of the bubble. Growth does not necessary equal bubble. However, if you want to keep believing the tax cuts caused that problem, so be it.
So you contradict yourself in your own post. You say tax cuts were not responsible for the bubble here. But you said in the first sentence they were. So you see how you're circle jerking around?
The sub-prime loans did not cause the crash.
The crash was caused by the excessive issuance of CDOs and Warren Buffet changing the Mark to Market ratio.
Buffet needed a few billion more so he phucked everyone else.
again, ignore the way lenders had to give out loans. mandated by congress. yep. completely ignore that so that you can make a statement. dude, you're wrong. sorry.
YOUR FUCKING ARGUMENT was that loans to poor people caused the crash. I posted proof that showed that was not the case at all, yet you continue parroting the bullshit.
So that begs the question; are you fucking stupid or something?
So when you look at those charts, what is it you are seeing? Because I see a definite drop in market share for GSE's from 2004-2007. What do you see?
Was almost 100% preventable had Donald Trump just exercised some damn discretion.
He CLEARLY isnt listening to his advisiors. If he was he wouldnt be tweeting a shitstorm after every single story.
I feel sorry for his staff & family. Still better than Hillary I suppose but it's time to start grooming A REAL CONSERVATIVE for the next cycle. As I stated for MONTHS before the election, Trump is no conservative, in fact he was a life long Democrat. The only reason he ran for president is because everyone told him he couldn't. His ego had to prove everyone wrong & here we sit.
You're both dead wrong (and astoundingly ignorant). The crash was caused by Bill Clinton's 1997 Community Re-Investment Act which essentially forced banks to make loans to people who couldn't afford the loans and then incentivized the banks to do it.The sub-prime loans did not cause the crash.
The crash was caused by the excessive issuance of CDOs and Warren Buffet changing the Mark to Market ratio.
Buffet needed a few billion more so he phucked everyone else.
Subprime loan defaults are what caused the crash.
You're both dead wrong (and astoundingly ignorant). The crash was caused by Bill Clinton's 1997 Community Re-Investment Act which essentially forced banks to make loans to people who couldn't afford the loans and then incentivized the banks to do it..
If you're looking for an argument from me - you won't get one. President Bush was a RINO. And given that there are 40 billion federal laws and regulations, it wouldn't surprise me in the least if he wasn't even aware of it. Nobody could be aware of all of them. Just another illustration of the unconstitutional monstrosity that our fascist friends on the left have morphed the federal government into.You're both dead wrong (and astoundingly ignorant). The crash was caused by Bill Clinton's 1997 Community Re-Investment Act which essentially forced banks to make loans to people who couldn't afford the loans and then incentivized the banks to do it..
Damn, Bush had 4 years to change the rules, and instead announced his 'ownership society' saying more people own their own homes under his watch than ever before.
If you're looking for an argument from me - you won't get one. President Bush was a RINO. And given that there are 40 billion federal laws and regulations, it wouldn't surprise me in the least if he wasn't even aware of it. Nobody could be aware of all of them. Just another illustration of the unconstitutional monstrosity that our fascist friends on the left have morphed the federal government into.
President Bush did? Or when faced with a situation he asked his attorneys/legal advisors to dig up something that would work?If you're looking for an argument from me - you won't get one. President Bush was a RINO. And given that there are 40 billion federal laws and regulations, it wouldn't surprise me in the least if he wasn't even aware of it. Nobody could be aware of all of them. Just another illustration of the unconstitutional monstrosity that our fascist friends on the left have morphed the federal government into.
Bush drug out a 100 year old civil war era law to keep states from controlling subprime mortgages. (see USSC Cuomo vs Clearinghouse case that Bush's actions were rulled ILLEGAL)
President Bush did? Or when faced with a situation he asked his attorneys/legal advisors to dig up something that would work?.
I disagree. The republicans have to impeach to save their party and they are beginning to realize that.
It's too late. The photo of them smiling with Trump when they passed the AHCA proves they are either in the tank with him, or are using him to advance their own agenda. In either case, they are beyond saving. Cynically using the President, then casting him aside once they got the tax cuts they wanted, is going to kill their party more than their association with Trump in the first place.
Conservatives are party-before-country.
As I stated before - you'll get no argument from me. Bush was a classic RINO. A true Kennedy-era liberal.President Bush did? Or when faced with a situation he asked his attorneys/legal advisors to dig up something that would work?.
Do you agree Bush didn't want anybody (ex: the states) putting the brakes on subprime mortgages? Which under Bush's watch and policies, went from 6% to over 20% of originated private mortgges.
"Impeachment" for what? You being a fragile snowflake who can't handle losing is not grounds for impeachment, my dear.Unfortunately for Republicans, the shit has hit the fan WAY too soon. At this point, they almost HAVE to start impeachment proceedings, and no legislation has been passed. Their agenda won't get done before midterms
"Impeachment" for what? You being a fragile snowflake who can't handle losing is not grounds for impeachment, my dear.Unfortunately for Republicans, the shit has hit the fan WAY too soon. At this point, they almost HAVE to start impeachment proceedings, and no legislation has been passed. Their agenda won't get done before midterms
Was almost 100% preventable had Donald Trump just exercised some damn discretion.
He CLEARLY isnt listening to his advisiors. If he was he wouldnt be tweeting a shitstorm after every single story.
I feel sorry for his staff & family. Still better than Hillary I suppose but it's time to start grooming A REAL CONSERVATIVE for the next cycle. As I stated for MONTHS before the election, Trump is no conservative, in fact he was a life long Democrat. The only reason he ran for president is because everyone told him he couldn't. His ego had to prove everyone wrong & here we sit.
