Trump blames Obama for doubling the debt

[AntonToo]

there was no recession in 07 and 08. There was a market correction brought by the collapse of the mortgage market. That collapse was caused when the government forced lenders to give mortgages to people who had no ability to make the payments. It was a liberal ideology failure brought on by both parties.

The government never forced banks to loan money to people who could not pay it back.

You are referring to the CRA from the days of Jimmie Carter & we are to believe that the program sat idled for 30 years & then jumped up & destroyed our economy on 2007.

The CRA said thast banks in their neighborhoods had to help people who could not quite meet the standards for a mortgage by reducing the down payment or the interest rate. That was it. They never said the banks had to loan money to people who still could not qualify under that reductions.

This is a lie perpetrated by the ignorant.

The recession officially started 4th quarter of 2007.

The CRA had nothing to do with the housing collapse.

You are referring to the CRA from the days of Jimmie Carter & we are to believe that the program sat idled for 30 years & then jumped up & destroyed our economy on 2007.


The seeds of the mortgage meltdown were planted during Bill Clinton's presidency.

Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in "credit-deprived" areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn't comply with these rules, regulators reined in their ability to expand lending and deposits.

These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What's more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase "subprime" became commonplace. What an understatement.

Next, the Clinton administration's rules ordered the taxpayer-backed Fannie and Freddie to expand their quotas of risky loans from 30 percent of portfolio to 50 percent as part of a big push to expand home ownership.

Fannie and Freddie were securitizing these home loans and offering 100 percent taxpayer guarantees of repayment. So now taxpayers were on the hook for these risky, low down-payment loans.

Kudlow: Are the Clintons the real housing crash villains?

Lowering rates had nothing to do with the concept with a buyer proving they could meet payments. That as a bank decision.

Housing values were climbing. Mortgage sellers were selling $450K mortgages to people making $70K. They used no interest / balloon payment mortgages (non traditional) as a gimmick. Some buyers knew they could afford these initial lower payments but were concerned about that balloon payment. The mortgage sellers told them to just refinance when the time came. Unfortunately, House values started to decline & when those buyers went to remortgage, they couldn't & ended up defaulting.

That mortgage seller did not give a rat's ass about the validity of that mortgage he sold because he sold to investment companies who wrapped them up into Mortgage Based Securities, bought AAA ratings, & sold them to unknowing buyers.

That is what caused the problems.

I thought a self proclaimed economics expert like you would have known this.

This went back to years of banking & wall street deregulation pushed by Republicans.

If you think you are right then you an find proof the these CRA traditional, long term mortgages were prevalent in the default mortgages at a rate higher than their percentage of all mortgages.

Don't bother to look, because they weren't

'This " OMG OMG OMG CRA CRA CRA" crap pedaled by the moronic right is yet another attempt to hide the fact that Republicans just plain can not govern.

Proof is in the pudding:

If CRA loans caused the problem their defaults rates would be expected to be higher than private market subprime loans, but exactly opposite is true.

If CRA loans caused the problem

Looks like a 15% default rate.....that's a problem.

what the fuck is wrong with you? DO YOU SERIOUSLY NOT SEE 40-50% default rates in private market subprime market lending defaults?

THAT is the real problem, if they were merely 15% we probably wouldn't even have a recession, never mind Great Recession.

Every market participator lost money on real estate collapse, but by far the biggest loss was stemming from private market origination, not lending under CRA.

 

[AntonToo]

I know how you asswipes love brutal dictators as you worship Putin & Duterte, so you loved Khadafi especially as he slaughtered his own people.

I know how you asswipes love brutal dictators as you worship Putin & Duterte,

It's a good thing Obama was so flexible with Putin, eh?

Dummy, there is no context for "flexible" comment in 2012, but we KNOW that in 2014 Obama put a boot up Putin's ass and sent Russian economy into a recession as soon as he ventured into Ukraine.

Compare that to

80 times Trump talked about Putin

Here is a gem:

Sept. 13, 2013
Trump praises Putin for his criticism of the term “American exceptionalism:”

“You think of the term as being fine, but all of sudden you say, what if you’re in Germany or Japan or any one of 100 different countries? You’re not going to like that term,” Trump told CNN. “It’s very insulting and Putin really put it to him (Obama) about that.”

there is no context for "flexible" comment in 2012

So why did Obama laugh when Romney said Russia was a threat?
And what do you think Obama was going to be flexible about?

1. You are misrepresenting what Mitt said, because he did not say that Russia was merely a threat, but a TOP foe.

Actual quote: "This [Russia] is without question our No. 1 geopolitical foe."

2. in 2014, 2 years after "flexible" comments, Russia took on a far more aggressive stance toward US after we smashed their economy for the Ukrainian mis-adventures.

he did not say that Russia was merely a threat, but a TOP foe.

They spent a couple on thousand dollars of Facebook ads to deny Hillary the Presidency.
That doesn't make them a top foe?

Is this really a serious comment or you just want to say SOMETHING back?

 

[Toddsterpatriot]

The government never forced banks to loan money to people who could not pay it back.

You are referring to the CRA from the days of Jimmie Carter & we are to believe that the program sat idled for 30 years & then jumped up & destroyed our economy on 2007.

The CRA said thast banks in their neighborhoods had to help people who could not quite meet the standards for a mortgage by reducing the down payment or the interest rate. That was it. They never said the banks had to loan money to people who still could not qualify under that reductions.

This is a lie perpetrated by the ignorant.

The recession officially started 4th quarter of 2007.

The CRA had nothing to do with the housing collapse.

You are referring to the CRA from the days of Jimmie Carter & we are to believe that the program sat idled for 30 years & then jumped up & destroyed our economy on 2007.


The seeds of the mortgage meltdown were planted during Bill Clinton's presidency.

Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in "credit-deprived" areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn't comply with these rules, regulators reined in their ability to expand lending and deposits.

These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What's more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase "subprime" became commonplace. What an understatement.

Next, the Clinton administration's rules ordered the taxpayer-backed Fannie and Freddie to expand their quotas of risky loans from 30 percent of portfolio to 50 percent as part of a big push to expand home ownership.

Fannie and Freddie were securitizing these home loans and offering 100 percent taxpayer guarantees of repayment. So now taxpayers were on the hook for these risky, low down-payment loans.

Kudlow: Are the Clintons the real housing crash villains?

Lowering rates had nothing to do with the concept with a buyer proving they could meet payments. That as a bank decision.

Housing values were climbing. Mortgage sellers were selling $450K mortgages to people making $70K. They used no interest / balloon payment mortgages (non traditional) as a gimmick. Some buyers knew they could afford these initial lower payments but were concerned about that balloon payment. The mortgage sellers told them to just refinance when the time came. Unfortunately, House values started to decline & when those buyers went to remortgage, they couldn't & ended up defaulting.

That mortgage seller did not give a rat's ass about the validity of that mortgage he sold because he sold to investment companies who wrapped them up into Mortgage Based Securities, bought AAA ratings, & sold them to unknowing buyers.

That is what caused the problems.

I thought a self proclaimed economics expert like you would have known this.

This went back to years of banking & wall street deregulation pushed by Republicans.

If you think you are right then you an find proof the these CRA traditional, long term mortgages were prevalent in the default mortgages at a rate higher than their percentage of all mortgages.

Don't bother to look, because they weren't

'This " OMG OMG OMG CRA CRA CRA" crap pedaled by the moronic right is yet another attempt to hide the fact that Republicans just plain can not govern.

Proof is in the pudding:

If CRA loans caused the problem their defaults rates would be expected to be higher than private market subprime loans, but exactly opposite is true.

If CRA loans caused the problem

Looks like a 15% default rate.....that's a problem.

what the fuck is wrong with you? DO YOU SERIOUSLY NOT SEE 40-50% default rates in private market subprime market lending defaults?

THAT is the real problem, if they were merely 15% we probably wouldn't even have a recession, never mind Great Recession.

Every market participator lost money on real estate collapse, but by far the biggest loss was stemming from private market origination, not lending under CRA.

DO YOU SERIOUSLY NOT SEE 40-50% default rates in private market

I see them right there in your chart.
A 15% default rate is no big deal?

Every market participator lost money on real estate collapse, but by far the biggest loss was stemming from private market origination, not lending under CRA.

Absolutely. CRA was only one factor of many that contributed.

 

[Toddsterpatriot]

I know how you asswipes love brutal dictators as you worship Putin & Duterte,

It's a good thing Obama was so flexible with Putin, eh?

Dummy, there is no context for "flexible" comment in 2012, but we KNOW that in 2014 Obama put a boot up Putin's ass and sent Russian economy into a recession as soon as he ventured into Ukraine.

Compare that to

80 times Trump talked about Putin

Here is a gem:

Sept. 13, 2013
Trump praises Putin for his criticism of the term “American exceptionalism:”

“You think of the term as being fine, but all of sudden you say, what if you’re in Germany or Japan or any one of 100 different countries? You’re not going to like that term,” Trump told CNN. “It’s very insulting and Putin really put it to him (Obama) about that.”

there is no context for "flexible" comment in 2012

So why did Obama laugh when Romney said Russia was a threat?
And what do you think Obama was going to be flexible about?

1. You are misrepresenting what Mitt said, because he did not say that Russia was merely a threat, but a TOP foe.

Actual quote: "This [Russia] is without question our No. 1 geopolitical foe."

2. in 2014, 2 years after "flexible" comments, Russia took on a far more aggressive stance toward US after we smashed their economy for the Ukrainian mis-adventures.

he did not say that Russia was merely a threat, but a TOP foe.

They spent a couple on thousand dollars of Facebook ads to deny Hillary the Presidency.
That doesn't make them a top foe?

Is this really a serious comment or you just want to say SOMETHING back?

I don't care if you add to the liberal whining about Russia being a huge issue now while denying they were an issue at all in 2012.

Russia has always been a huge threat.
Hilarious to see liberals suddenly realize it after loving Commies for the last 100 years.

 

[francoHFW]

None.

Why?

Because he was not able to change them he was obstructed duh... Not the same as approving them duh.

Because he was not able to change them he was obstructed

Obama had huge majorities in House and Senate in 2009-2010. Duh!

He had 60 votes for about 30 days in session all given over to passing ACA and of course a terrible time to raise taxes on anyone in the middle of a disaster. So dumb...

Democrats controlled the House and Senate during Bush's last 2 years and Obama's 1st 2 years.

Don't start trying to re-write history ... AGAIN.

Control is a strange word when Bush showed he would veto anything to Democrats tried, and there were 200 GOP filibusters of Obama ideas 2009-2010.. then you Dupes go on to say that Obama policies caused anything LOL. You people are absolute brainwashed functional morons... Democrats have had no real power since LBJ... You know the good old days...

 

[francoHFW]

I know how you asswipes love brutal dictators as you worship Putin & Duterte, so you loved Khadafi especially as he slaughtered his own people.

I know how you asswipes love brutal dictators as you worship Putin & Duterte,

It's a good thing Obama was so flexible with Putin, eh?

A hell of a lot less flexible than Trump, ass wipe. Trump loves duterte too. Wake up and smell the coffee... Republicans have always loved right-wing dictators...

Maybe he should give Putin a reset button?

He was going to, until this collusion thing...

When Romney said Russia was our largest threat and Obama chuckled that "the 80s called and wanted their foreign policy back", what exactly was Obama going to be flexible about?

Spell it out.

Dealing with Medvedev, not Putin.. Duh

 

[francoHFW]

maybe the liberals should stop blowing all their money on Shaniqua and her 13 kids, then maybe we wouldn't have so much fucking debt.

Well ain;'t you the racist fuck.

maybe the liberals should stop blowing all their money on Shaniqua and her 13 kids, then maybe we wouldn't have so much fucking debt.

Well ain;'t you the racist fuck.

it's not racist just because i don't want to pay for shaniqua's kids.

Oh please, you purposefully chose a name most likely associated with a black person as if black people are the only ones on government assistance.

Fuck you you racist POS. If you don't know that was a racist post then your racism is so inbred to yourevery being that you don;t even know how racist you are.

Well ain;'t you the racist fuck.

it's not racist just because i don't want to pay for shaniqua's kids.

Oh please, you purposefully chose a name most likely associated with a black person as if black people are the only ones on government assistance.

Fuck you you racist POS. If you don't know that was a racist post then your racism is so inbred to yourevery being that you don;t even know how racist you are.

why you gotta be racist, just because her name is shaniqua doesn't mean she's black.

i see a lot of black ppl with white names, too.

Oh please, I love it when you racist fucks make a racist post &then try to run away when caught.

The only thing misleading in the OP's post is that he forgot to include Guadalupe's name with ShaQuita's.....Nothing defamatory, slanderous or racist in the fucking truth. Just because you sackless pussies are scared shitless to acknowledge the truth doesn't mean we all are. It's time to get your shit right...your filthy ass is about to be shamed into legitimacy...We know playing stupid and pretending you're not filth isn't working....haha
21.3% of US Participates in Government Assistance Programs Each Month
Who Participated in Welfare?
The black population: At 41.6 percent, blacks were more likely to participate in government assistance programs in an average month.
The black participation rate was followed by Hispanics at 36.4 percent, Asians or Pacific Islanders at 17.8 percent, and non-Hispanic whites at 13.2 percent.

Also ranked by the amount of discrimination they face from GOP racists. What a coincidence...

 

[francoHFW]

I know how you asswipes love brutal dictators as you worship Putin & Duterte,

It's a good thing Obama was so flexible with Putin, eh?

Dummy, there is no context for "flexible" comment in 2012, but we KNOW that in 2014 Obama put a boot up Putin's ass and sent Russian economy into a recession as soon as he ventured into Ukraine.

Compare that to

80 times Trump talked about Putin

Here is a gem:

Sept. 13, 2013
Trump praises Putin for his criticism of the term “American exceptionalism:”

“You think of the term as being fine, but all of sudden you say, what if you’re in Germany or Japan or any one of 100 different countries? You’re not going to like that term,” Trump told CNN. “It’s very insulting and Putin really put it to him (Obama) about that.”

there is no context for "flexible" comment in 2012

So why did Obama laugh when Romney said Russia was a threat?
And what do you think Obama was going to be flexible about?

At the time, we had a good relationship with Russia.

Obama could be more flexible discussing reducing nuclear arms once the election was over. You stupid Trumpettes think we need 15,000 nuclear bombs, Trumps wanted even more.

He had 60 votes for about 30 days in session all given over to passing ACA and of course a terrible time to raise taxes on anyone in the middle of a disaster. So dumb...

He had 60 votes for about 30 days

Poor guy couldn't hike taxes with 58 or 59 or 60 votes in the Senate?

and of course a terrible time to raise taxes on anyone in the middle of a disaster.

So the Bush rates in 2008 were better than making rates higher during a disaster? Good to know.

Again you prove you know nothing about economics.

Recessions happen when the spending dries up. You want to take more money from the spenders in taxes.

Why would I want to do that?

Because you don't know shit about economics.

Liberals are the ones whining that they're too low.
I want to cut taxes, not raise them.

Unfortunately with the GOP you get lower taxes only on the rich, Dupe. Only the Democrats want to do but the country wants, raise taxes on the rich and giant corporations cut them on the non rich. Poor dupes poor America.

 

[RealDave]

You are referring to the CRA from the days of Jimmie Carter & we are to believe that the program sat idled for 30 years & then jumped up & destroyed our economy on 2007.


The seeds of the mortgage meltdown were planted during Bill Clinton's presidency.

Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in "credit-deprived" areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn't comply with these rules, regulators reined in their ability to expand lending and deposits.

These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What's more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase "subprime" became commonplace. What an understatement.

Next, the Clinton administration's rules ordered the taxpayer-backed Fannie and Freddie to expand their quotas of risky loans from 30 percent of portfolio to 50 percent as part of a big push to expand home ownership.

Fannie and Freddie were securitizing these home loans and offering 100 percent taxpayer guarantees of repayment. So now taxpayers were on the hook for these risky, low down-payment loans.

Kudlow: Are the Clintons the real housing crash villains?

Lowering rates had nothing to do with the concept with a buyer proving they could meet payments. That as a bank decision.

Housing values were climbing. Mortgage sellers were selling $450K mortgages to people making $70K. They used no interest / balloon payment mortgages (non traditional) as a gimmick. Some buyers knew they could afford these initial lower payments but were concerned about that balloon payment. The mortgage sellers told them to just refinance when the time came. Unfortunately, House values started to decline & when those buyers went to remortgage, they couldn't & ended up defaulting.

That mortgage seller did not give a rat's ass about the validity of that mortgage he sold because he sold to investment companies who wrapped them up into Mortgage Based Securities, bought AAA ratings, & sold them to unknowing buyers.

That is what caused the problems.

I thought a self proclaimed economics expert like you would have known this.

This went back to years of banking & wall street deregulation pushed by Republicans.

If you think you are right then you an find proof the these CRA traditional, long term mortgages were prevalent in the default mortgages at a rate higher than their percentage of all mortgages.

Don't bother to look, because they weren't

'This " OMG OMG OMG CRA CRA CRA" crap pedaled by the moronic right is yet another attempt to hide the fact that Republicans just plain can not govern.

Proof is in the pudding:

If CRA loans caused the problem their defaults rates would be expected to be higher than private market subprime loans, but exactly opposite is true.

If CRA loans caused the problem

Looks like a 15% default rate.....that's a problem.

what the fuck is wrong with you? DO YOU SERIOUSLY NOT SEE 40-50% default rates in private market subprime market lending defaults?

THAT is the real problem, if they were merely 15% we probably wouldn't even have a recession, never mind Great Recession.

Every market participator lost money on real estate collapse, but by far the biggest loss was stemming from private market origination, not lending under CRA.

DO YOU SERIOUSLY NOT SEE 40-50% default rates in private market

I see them right there in your chart.
A 15% default rate is no big deal?

Every market participator lost money on real estate collapse, but by far the biggest loss was stemming from private market origination, not lending under CRA.

Absolutely. CRA was only one factor of many that contributed.

So now we're down to one factor of many. You can't weasel your way out of your " OMG OMG OMG CRA CRA CRA" post.

 

[RealDave]

maybe the liberals should stop blowing all their money on Shaniqua and her 13 kids, then maybe we wouldn't have so much fucking debt.

Well ain;'t you the racist fuck.

maybe the liberals should stop blowing all their money on Shaniqua and her 13 kids, then maybe we wouldn't have so much fucking debt.

Well ain;'t you the racist fuck.

it's not racist just because i don't want to pay for shaniqua's kids.

Oh please, you purposefully chose a name most likely associated with a black person as if black people are the only ones on government assistance.

Fuck you you racist POS. If you don't know that was a racist post then your racism is so inbred to yourevery being that you don;t even know how racist you are.

Well ain;'t you the racist fuck.

it's not racist just because i don't want to pay for shaniqua's kids.

Oh please, you purposefully chose a name most likely associated with a black person as if black people are the only ones on government assistance.

Fuck you you racist POS. If you don't know that was a racist post then your racism is so inbred to yourevery being that you don;t even know how racist you are.

why you gotta be racist, just because her name is shaniqua doesn't mean she's black.

i see a lot of black ppl with white names, too.

Oh please, I love it when you racist fucks make a racist post &then try to run away when caught.

The only thing misleading in the OP's post is that he forgot to include Guadalupe's name with ShaQuita's.....Nothing defamatory, slanderous or racist in the fucking truth. Just because you sackless pussies are scared shitless to acknowledge the truth doesn't mean we all are. It's time to get your shit right...your filthy ass is about to be shamed into legitimacy...We know playing stupid and pretending you're not filth isn't working....haha
21.3% of US Participates in Government Assistance Programs Each Month
Who Participated in Welfare?
The black population: At 41.6 percent, blacks were more likely to participate in government assistance programs in an average month.
The black participation rate was followed by Hispanics at 36.4 percent, Asians or Pacific Islanders at 17.8 percent, and non-Hispanic whites at 13.2 percent.

One racist fuck defending another.
So white people don;t get government help? Or is it you assfucks only complain when minorities get them?

You do realize that poor people are disproportionately poor? Did you ever think shit happens when you are held down by over a 150 years of racism?

You assholes should grab your buddies Jeff Sessions, Trump, & Steve Bannon & start your own white supremacist colony somewhere on an islands. Because that is not America.

 

[Toddsterpatriot]

I know how you asswipes love brutal dictators as you worship Putin & Duterte,

It's a good thing Obama was so flexible with Putin, eh?

A hell of a lot less flexible than Trump, ass wipe. Trump loves duterte too. Wake up and smell the coffee... Republicans have always loved right-wing dictators...

Maybe he should give Putin a reset button?

He was going to, until this collusion thing...

When Romney said Russia was our largest threat and Obama chuckled that "the 80s called and wanted their foreign policy back", what exactly was Obama going to be flexible about?

Spell it out.

Dealing with Medvedev, not Putin.. Duh

Putin, you idiot.

 

[Toddsterpatriot]

Dummy, there is no context for "flexible" comment in 2012, but we KNOW that in 2014 Obama put a boot up Putin's ass and sent Russian economy into a recession as soon as he ventured into Ukraine.

Compare that to

80 times Trump talked about Putin

Here is a gem:

Sept. 13, 2013
Trump praises Putin for his criticism of the term “American exceptionalism:”

“You think of the term as being fine, but all of sudden you say, what if you’re in Germany or Japan or any one of 100 different countries? You’re not going to like that term,” Trump told CNN. “It’s very insulting and Putin really put it to him (Obama) about that.”

there is no context for "flexible" comment in 2012

So why did Obama laugh when Romney said Russia was a threat?
And what do you think Obama was going to be flexible about?

At the time, we had a good relationship with Russia.

Obama could be more flexible discussing reducing nuclear arms once the election was over. You stupid Trumpettes think we need 15,000 nuclear bombs, Trumps wanted even more.

He had 60 votes for about 30 days

Poor guy couldn't hike taxes with 58 or 59 or 60 votes in the Senate?

and of course a terrible time to raise taxes on anyone in the middle of a disaster.

So the Bush rates in 2008 were better than making rates higher during a disaster? Good to know.

Again you prove you know nothing about economics.

Recessions happen when the spending dries up. You want to take more money from the spenders in taxes.

Why would I want to do that?

Because you don't know shit about economics.

Liberals are the ones whining that they're too low.
I want to cut taxes, not raise them.

Unfortunately with the GOP you get lower taxes only on the rich, Dupe. Only the Democrats want to do but the country wants, raise taxes on the rich and giant corporations cut them on the non rich. Poor dupes poor America.

Unfortunately with the GOP you get lower taxes only on the rich

Unfortunately, you're a moron.

 

[francoHFW]

A hell of a lot less flexible than Trump, ass wipe. Trump loves duterte too. Wake up and smell the coffee... Republicans have always loved right-wing dictators...

Maybe he should give Putin a reset button?

He was going to, until this collusion thing...

When Romney said Russia was our largest threat and Obama chuckled that "the 80s called and wanted their foreign policy back", what exactly was Obama going to be flexible about?

Spell it out.

Dealing with Medvedev, not Putin.. Duh

Putin, you idiot.

Obama was talking to Medvedev, you moron, the guy Democrats admired and wanted to deal with...

 

[Toddsterpatriot]

Lowering rates had nothing to do with the concept with a buyer proving they could meet payments. That as a bank decision.

Housing values were climbing. Mortgage sellers were selling $450K mortgages to people making $70K. They used no interest / balloon payment mortgages (non traditional) as a gimmick. Some buyers knew they could afford these initial lower payments but were concerned about that balloon payment. The mortgage sellers told them to just refinance when the time came. Unfortunately, House values started to decline & when those buyers went to remortgage, they couldn't & ended up defaulting.

That mortgage seller did not give a rat's ass about the validity of that mortgage he sold because he sold to investment companies who wrapped them up into Mortgage Based Securities, bought AAA ratings, & sold them to unknowing buyers.

That is what caused the problems.

I thought a self proclaimed economics expert like you would have known this.

This went back to years of banking & wall street deregulation pushed by Republicans.

If you think you are right then you an find proof the these CRA traditional, long term mortgages were prevalent in the default mortgages at a rate higher than their percentage of all mortgages.

Don't bother to look, because they weren't

'This " OMG OMG OMG CRA CRA CRA" crap pedaled by the moronic right is yet another attempt to hide the fact that Republicans just plain can not govern.

Proof is in the pudding:

If CRA loans caused the problem their defaults rates would be expected to be higher than private market subprime loans, but exactly opposite is true.

If CRA loans caused the problem

Looks like a 15% default rate.....that's a problem.

what the fuck is wrong with you? DO YOU SERIOUSLY NOT SEE 40-50% default rates in private market subprime market lending defaults?

THAT is the real problem, if they were merely 15% we probably wouldn't even have a recession, never mind Great Recession.

Every market participator lost money on real estate collapse, but by far the biggest loss was stemming from private market origination, not lending under CRA.

DO YOU SERIOUSLY NOT SEE 40-50% default rates in private market

I see them right there in your chart.
A 15% default rate is no big deal?

Every market participator lost money on real estate collapse, but by far the biggest loss was stemming from private market origination, not lending under CRA.

Absolutely. CRA was only one factor of many that contributed.

So now we're down to one factor of many. You can't weasel your way out of your " OMG OMG OMG CRA CRA CRA" post.

So now we're down to one factor of many.

That's what I've always said.

You can't weasel your way out of your " OMG OMG OMG CRA CRA CRA" post.

Link?

 

[RealDave]

A hell of a lot less flexible than Trump, ass wipe. Trump loves duterte too. Wake up and smell the coffee... Republicans have always loved right-wing dictators...

Maybe he should give Putin a reset button?

He was going to, until this collusion thing...

When Romney said Russia was our largest threat and Obama chuckled that "the 80s called and wanted their foreign policy back", what exactly was Obama going to be flexible about?

Spell it out.

Dealing with Medvedev, not Putin.. Duh

Putin, you idiot.

Obama said it to Medvedev.

 

[Toddsterpatriot]

Maybe he should give Putin a reset button?

He was going to, until this collusion thing...

When Romney said Russia was our largest threat and Obama chuckled that "the 80s called and wanted their foreign policy back", what exactly was Obama going to be flexible about?

Spell it out.

Dealing with Medvedev, not Putin.. Duh

Putin, you idiot.

Obama was talking to Medvedev, you moron, the guy Democrats admired and wanted to deal with...

Obama was talking to Medvedev

What did Obama say to Medvedev? What did Medvedev say back? Stupid twat.

 

[francoHFW]

there is no context for "flexible" comment in 2012

So why did Obama laugh when Romney said Russia was a threat?
And what do you think Obama was going to be flexible about?

At the time, we had a good relationship with Russia.

Obama could be more flexible discussing reducing nuclear arms once the election was over. You stupid Trumpettes think we need 15,000 nuclear bombs, Trumps wanted even more.

Again you prove you know nothing about economics.

Recessions happen when the spending dries up. You want to take more money from the spenders in taxes.

Why would I want to do that?

Because you don't know shit about economics.

Liberals are the ones whining that they're too low.
I want to cut taxes, not raise them.

Unfortunately with the GOP you get lower taxes only on the rich, Dupe. Only the Democrats want to do but the country wants, raise taxes on the rich and giant corporations cut them on the non rich. Poor dupes poor America.

Unfortunately with the GOP you get lower taxes only on the rich

View attachment 154670

View attachment 154671

Unfortunately, you're a moron.

Of course because of cuts in the income tax, state and local taxes rise, which kill the non rich, Super Dupe.

 

[Toddsterpatriot]

Maybe he should give Putin a reset button?

He was going to, until this collusion thing...

When Romney said Russia was our largest threat and Obama chuckled that "the 80s called and wanted their foreign policy back", what exactly was Obama going to be flexible about?

Spell it out.

Dealing with Medvedev, not Putin.. Duh

Putin, you idiot.

Obama said it to Medvedev.

Said what?

 

[Toddsterpatriot]

At the time, we had a good relationship with Russia.

Obama could be more flexible discussing reducing nuclear arms once the election was over. You stupid Trumpettes think we need 15,000 nuclear bombs, Trumps wanted even more.

Why would I want to do that?

Because you don't know shit about economics.

Liberals are the ones whining that they're too low.
I want to cut taxes, not raise them.

Unfortunately with the GOP you get lower taxes only on the rich, Dupe. Only the Democrats want to do but the country wants, raise taxes on the rich and giant corporations cut them on the non rich. Poor dupes poor America.

Unfortunately with the GOP you get lower taxes only on the rich

View attachment 154670

View attachment 154671

Unfortunately, you're a moron.

Of course because of cuts in the income tax, state and local taxes rise, which kill the non rich, Super Dupe.

Of course because of cuts in the income tax, state and local taxes rise

Why?

 

[francoHFW]

He was going to, until this collusion thing...

When Romney said Russia was our largest threat and Obama chuckled that "the 80s called and wanted their foreign policy back", what exactly was Obama going to be flexible about?

Spell it out.

Dealing with Medvedev, not Putin.. Duh

Putin, you idiot.

Obama was talking to Medvedev, you moron, the guy Democrats admired and wanted to deal with...

Obama was talking to Medvedev

What did Obama say to Medvedev? What did Medvedev say back? Stupid twat.

Do you want a diagram, idiot?