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Bush's ADDI, American Dream Downpayment Initiative. Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) is what changed the rules to allow no downpayment loans to people with bad credit for more than the house was worth and who were at least 20% below the standard of living for the neighborhood they were buying into.Why did the economy crash in 2007?
Because a bunch of retards bought shit they couldn't afford.
And why were they able to buy shit they couldn't afford? Because the Dumbocrats forced banks to make home loans to people who previously didn't qualify (because Dumbocrats think socialism is so great).
All they do is collapse everything they touch and they still haven't figured out what a failed concept socialism is.
Bush's ADDI, American Dream Downpayment Initiative. Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) is what changed the rules to allow no downpayment loans to people with bad credit for more than the house was worth and who were at least 20% below the standard of living for the neighborhood they were buying into.Because a bunch of retards bought shit they couldn't afford.
And why were they able to buy shit they couldn't afford? Because the Dumbocrats forced banks to make home loans to people who previously didn't qualify (because Dumbocrats think socialism is so great).
All they do is collapse everything they touch and they still haven't figured out what a failed concept socialism is.
Bush was no Democrat! Bush owns the housing crash!
Really? 200 million is a lot of money but it collapsed the housing market? Can you explain that?Bush was no Democrat! Bush owns the housing crash!
I know what it states...however? WHAT was done with it under CLINTON?From your link:Community Reinvestment ActAnd why were they able to buy shit they couldn't afford? Because the Dumbocrats forced banks to make home loans to people who previously didn't qualify (because Dumbocrats think socialism is so great).
All they do is collapse everything they touch and they still haven't figured out what a failed concept socialism is.
The law, however, emphasizes that an institution's CRA activities should be undertaken in a safe and sound manner, and does not require institutions to make high-risk loans that may bring losses to the institution.[3][4] An institution's CRA compliance record is taken into account by the banking regulatory agencies when the institution seeks to expand through merger, acquisition or branching. The law does not mandate any other penalties for non-compliance with the CRA.[6][9]
Typical "Fuzzy Math." Try $800 million.Really? 200 million is a lot of money but it collapsed the housing market? Can you explain that?Bush was no Democrat! Bush owns the housing crash!
Clintons Legacy: The Financial and Housing MeltdownBill Clinton is certainly full of himself these days. That might have something to do with the fact that no one is likely to ask why he hasnt owned up to his share of the blame for the housing and financial bust.
The former president is treated like an elder statesman whose tenure in office was so good that even some Republicans look back fondly on it. On the surface his economic record looks good, but it would be rash to credit Clinton. During his time in office the information revolution took off, boosting productivity and economic growth. And when his Democratic Party lost control of Congress in 1992, Clinton had to accept spending restraints, which meant less government obstruction to economic growth.
Clinton, however, sowed the seeds of the Great Recession by helping to inflate the housing bubble, a key part of the financial debacle of 2007. But this wasnt because he (not George W. Bush) signed two financial deregulation bills. Although Clinton legalized interstate banking in 1994 and commercial/investment banking combinations in 1999, that had nothing to do with the meltdown.
Then why is Clinton culpable? Because his secretary of housing and urban development, Andrew Cuomo, current governor of New York and a likely 2016 presidential aspirant, accelerated easy-housing policies and inflated the housing bubble, setting the stage for its collapse.
The meltdown was the consequence of a combination of the easy money and low interest rates engineered by the Federal Reserve and the easy housing engineered by a variety of government agencies and policies. Those agencies include the Department of Housing and Urban Development (HUD) and two nominally private government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. The agencies along with laws such as the Community Reinvestment Act (passed in the 1970s, then fortified in the Clinton years), which required banks to make loans to people with poor and nonexistent credit histories made widespread homeownership a national goal. This all led to a home-buying frenzy and an explosion of subprime and other non-prime mortgages, which banks and GSEs bundled into dubious securities and peddled to investors worldwide. Hovering in the background was the knowledge that the federal government would bail out troubled too-big-to-fail financial corporations, including Fannie and Freddie.
Well, 270 if you want to be more precise. Proposals aren't how we measure money spent.Typical "Fuzzy Math." Try $800 million.
Sadly the Federal Government has made it too damned easy to become a MOOCHER...and harder to get out of it...by design.Obama's a Marxist Maoist Stalinist Sharia Muslim Kenyan Jew or whatever you people believe, so why is he helping his rich friends instead of taking all their money and redistributing it to illegal Mexicans?
He has (you've really not been paying attention for the past 5 years, have you?)
What do you think Obamacare is? Taking money from those that do and handing it over to those who refuse to do.
What do you think the largest expansion of food stamps in U.S. history is? Taking money from those that do and handing it over to those who refuse to do.
What do you think unconstitutionally altering the work requirements of welfare was? Taking money from those that do and handing it over to those who refuse to do.
Join us in reality, won't you?
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The real moochers are the rich that make fortunes off the backs of the laborers. The cons keep demonizing the poor and laborers, to draw attention away from the demon behind the curtain, the rich puke. And like Marie Antoinette, the rich will eventually get their just deserts. It's so funny that the rich are now trying to fool everyone into believing She didn't say "Let them eat cake", as if she was wrongly beheaded.
IF they are given a WAGE that they agreed to when taking a job offered...HOW does that make the employer a 'moocher'? Care to explain that twisted bit of non-logic? Hmm?Sadly the Federal Government has made it too damned easy to become a MOOCHER...and harder to get out of it...by design.He has (you've really not been paying attention for the past 5 years, have you?)
What do you think Obamacare is? Taking money from those that do and handing it over to those who refuse to do.
What do you think the largest expansion of food stamps in U.S. history is? Taking money from those that do and handing it over to those who refuse to do.
What do you think unconstitutionally altering the work requirements of welfare was? Taking money from those that do and handing it over to those who refuse to do.
Join us in reality, won't you?
The real moochers are the rich that make fortunes off the backs of the laborers. The cons keep demonizing the poor and laborers, to draw attention away from the demon behind the curtain, the rich puke. And like Marie Antoinette, the rich will eventually get their just deserts. It's so funny that the rich are now trying to fool everyone into believing She didn't say "Let them eat cake", as if she was wrongly beheaded.
Your inability to post something coherent to make back your assertion is extremely laughable.
The comment made was...........no one president has the ability to create jobs by the stroke of executive power or privilege.
Then you make this lame statement which really does back the comment made by me.
Its so laughable.
Well I can already tell that it will never become clear to you that presidents control policy and have a monumental impact on the economy.
Part of the reason I can tell this is your poor grammar and use of punctuation (indicating extraordinary lack of intellect and proper education). Another part of the reason I can tell is you blind partisan faith in ignorant Dumbocrat socialism.
So please allow me to set you straight here chief. First of all, the federal government should not have their hands in the free market. Therefore, "cutting" federal government should have nearly (key word) no effect on prosperity.
Quite the contrary, the more we cut federal government the less taxes they require. The less taxes they require, the more money stays where it belongs - in the hands of the people. The more the people have the money, the more prosperity.
You're entire ignorant diatribe was nothing but "lets do exactly what Cuba has done". Well junior, those same Dumbocrat policies have kept Cuba in poverty for about 60 years. How about you actually learn for once in your life? How about we don't mimic the policies of a 3rd world shit-hole where everyone wallows in poverty?
I've highlighted your most recent comment in red. It does not match your previous comment in pink as you just falsely claimed.
Your previous diatribe was all about blaming Boehner and claiming (falsely and ignorantly) "one cannot cut their way to prosperity". There is not one comment about "one strokes" and/or "executive privilege" in your previous post.
But since I've bitch-slapped you with facts you can't dispute, you're now being a typical libtard and trying to backpedal.
Yeah, dingleberry. It was all the Dumbocraps' fault. Banker crimes weren't responsible for those shitty loans at all. Keep believing that. That's why you're a Teabagger.
Banks made billions off of those shitty loans, then the banks tanked the economy when their lies came crashing down around them, then the People lost their homes, then the banks got their bailouts, and now the banks have even more billions of dollars while families are still unemployed and homeless.
You fucking Republicans can't look at Wall Street to know where the greatest problems in America come from? No one is talking about implementing Socialism. We want Justice, not Socialism. "Free-market capitalism" is not what Wall Street has been engaged in. "Free-for-the-1%-market capitalism" is more like it. How can any private business ruin itself through terrible practices and then expect the taxpayers' to come to their rescue?
Bush's ADDI, American Dream Downpayment Initiative. Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) is what changed the rules to allow no downpayment loans to people with bad credit for more than the house was worth and who were at least 20% below the standard of living for the neighborhood they were buying into.Because a bunch of retards bought shit they couldn't afford.
And why were they able to buy shit they couldn't afford? Because the Dumbocrats forced banks to make home loans to people who previously didn't qualify (because Dumbocrats think socialism is so great).
All they do is collapse everything they touch and they still haven't figured out what a failed concept socialism is.
Bush was no Democrat! Bush owns the housing crash!
Do the words "powerless members of the MINORITY Party" mean anything to you?Bush's ADDI, American Dream Downpayment Initiative. Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) is what changed the rules to allow no downpayment loans to people with bad credit for more than the house was worth and who were at least 20% below the standard of living for the neighborhood they were buying into.And why were they able to buy shit they couldn't afford? Because the Dumbocrats forced banks to make home loans to people who previously didn't qualify (because Dumbocrats think socialism is so great).
All they do is collapse everything they touch and they still haven't figured out what a failed concept socialism is.
Bush was no Democrat! Bush owns the housing crash!
Oh really? Do the names Barney Frank and Chris Dodd mean nothing to you? I suggest that you do your research.
Quell your hatred for Bush long enough to actually LEARN the truth. Does Bush shoulder some of the blame? You bet! He was the president. But you need to learn exactly what happened that brought all this about at FANNIE and FREDDIE.
Yeah, dingleberry. It was all the Dumbocraps' fault. Banker crimes weren't responsible for those shitty loans at all. Keep believing that. That's why you're a Teabagger.
Banks made billions off of those shitty loans, then the banks tanked the economy when their lies came crashing down around them, then the People lost their homes, then the banks got their bailouts, and now the banks have even more billions of dollars while families are still unemployed and homeless.
You fucking Republicans can't look at Wall Street to know where the greatest problems in America come from? No one is talking about implementing Socialism. We want Justice, not Socialism. "Free-market capitalism" is not what Wall Street has been engaged in. "Free-for-the-1%-market capitalism" is more like it. How can any private business ruin itself through terrible practices and then expect the taxpayers' to come to their rescue?
Think of the absurdity of that statement. Someone begs a bank for a loan, promises to pay it back, and when the bank relents and gives them the loan, the Dumbocrats accuse them of being "criminals".
Of course, if the bank denied the loan then the Dumbocrats would accuse the banks of being "evil" 1%ers who are "keeping the man down" by denying them the loans they need to pursue the American dream
Either way, the Dems create failure with their socialism and then blame everyone else. I can't wait to see how my buddy KNB tries to explain this one away
Do the words "powerless members of the MINORITY Party" mean anything to you?Bush's ADDI, American Dream Downpayment Initiative. Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) is what changed the rules to allow no downpayment loans to people with bad credit for more than the house was worth and who were at least 20% below the standard of living for the neighborhood they were buying into.
Bush was no Democrat! Bush owns the housing crash!
Oh really? Do the names Barney Frank and Chris Dodd mean nothing to you? I suggest that you do your research.
Quell your hatred for Bush long enough to actually LEARN the truth. Does Bush shoulder some of the blame? You bet! He was the president. But you need to learn exactly what happened that brought all this about at FANNIE and FREDDIE.
I love it! Two members of the minority Party are more powerful than president Bush and the Party that controls both houses of Congress and the WH.Do the words "powerless members of the MINORITY Party" mean anything to you?Oh really? Do the names Barney Frank and Chris Dodd mean nothing to you? I suggest that you do your research.
Quell your hatred for Bush long enough to actually LEARN the truth. Does Bush shoulder some of the blame? You bet! He was the president. But you need to learn exactly what happened that brought all this about at FANNIE and FREDDIE.
Nope. Barney Frank and Chris Dodd DESTROYED FANNIE and FREDIE and by rights, should be in prison. Are they? No. Minority party my ass.
And note that NEITHER of those cowards ran again for office. They knew what they did was wrong.Do the words "powerless members of the MINORITY Party" mean anything to you?Oh really? Do the names Barney Frank and Chris Dodd mean nothing to you? I suggest that you do your research.
Quell your hatred for Bush long enough to actually LEARN the truth. Does Bush shoulder some of the blame? You bet! He was the president. But you need to learn exactly what happened that brought all this about at FANNIE and FREDDIE.
Nope. Barney Frank and Chris Dodd DESTROYED FANNIE and FREDIE and by rights, should be in prison. Are they? No. Minority party my ass.
Yeah, dingleberry. It was all the Dumbocraps' fault. Banker crimes weren't responsible for those shitty loans at all. Keep believing that. That's why you're a Teabagger.
Banks made billions off of those shitty loans, then the banks tanked the economy when their lies came crashing down around them, then the People lost their homes, then the banks got their bailouts, and now the banks have even more billions of dollars while families are still unemployed and homeless.
You fucking Republicans can't look at Wall Street to know where the greatest problems in America come from? No one is talking about implementing Socialism. We want Justice, not Socialism. "Free-market capitalism" is not what Wall Street has been engaged in. "Free-for-the-1%-market capitalism" is more like it. How can any private business ruin itself through terrible practices and then expect the taxpayers' to come to their rescue?
Think of the absurdity of that statement. Someone begs a bank for a loan, promises to pay it back, and when the bank relents and gives them the loan, the Dumbocrats accuse them of being "criminals".
Of course, if the bank denied the loan then the Dumbocrats would accuse the banks of being "evil" 1%ers who are "keeping the man down" by denying them the loans they need to pursue the American dream
Either way, the Dems create failure with their socialism and then blame everyone else. I can't wait to see how my buddy KNB tries to explain this one away
LMAO. Leave it to a fucking dog to know about begging. Is that how you got what you have rotty? Begging?
And rotty. Banks were not begging borrowers to apply for mortgages. That's why they have salesmen and women. Also known as mortgage loan officers. To solicit business in the grand ole free market of mortgage lending. Greed is/was a powerful motivator.
And fortunately most banks continued to follow sound lending practices and never got into trouble. And did you know that banks that didn't get in lending trouble still had to follow CRA requirements?
