You are unemployed and want a new job, under a Democratic president you have a better chance of getting one!

[Toddsterpatriot]

Todd, if you were as informed as you claim, you'd know that condescension doesn't make you more persuasive—it just exposes insecurity. Your argument ignores the broader context in which the government purchased subprime mortgages. From whom did the government buy these toxic assets? The private sector created, bundled, and sold these risky investments, largely due to deregulation and the repeal of Glass-Steagall, which they lobbied for extensively. The government, in turn, bailed them out when their reckless profiteering led to the financial collapse.

The private sector's drive for profits at the expense of economic stability is the real issue here. Without Glass-Steagall's repeal, the scale of the crisis would have been far smaller. Your attempt to deflect blame away from deregulation and corporate greed onto government purchases of these bad loans misses the mark entirely. Also, the link you provided is broken, which makes your reference invalid. If you’re going to cite evidence, ensure it’s accessible and reliable.

Your argument ignores the broader context in which the government purchased subprime mortgages. From whom did the government buy these toxic assets?


There is only one source of mortgages. The private sector.
Where did Fannie and Freddie buy high quality mortgages before the HUD mandate? You're right, the private sector.

How many low-quality mortgages, issued to people with low credit scores and small down-payments were created before the CRA? Some, but not as many. When the government forced banks to lower their standards in order to expand, banks lowered their standards. When the government forced banks to lower their standards in order to merge with other banks, banks lowered their standards.

When HUD forced Fannie and Freddie to make 30% of their mortgage purchases subprime mortgages, what did Fannie and Freddie do? They called up mortgage providers in the private sector and said, "We want to buy billions of dollars of subprime mortgages".
What does the private sector do when a government backed buyer demands billions of dollars of a product? LOL!


The private sector created, bundled, and sold these risky investments,


It sounds like, by 2008, the private sector only handled 30% of those risky investments. The government agencies plus Fannie and Freddie handled 70% of them. WOW!


The private sector's drive for profits at the expense of economic stability is the real issue here.

The public sector's multi-trillion-dollar demand for crap looks like it was a very large part of the real issue here.


Also, the link you provided is broken, which makes your reference invalid. If you’re going to cite evidence, ensure it’s accessible and reliable.


It's not broken. It's here......post #1248

You are unemployed and want a new job, under a Democratic president you have a better chance of getting one!

Yeah, and spending it on illegal aliens. Now who could be behind that ? 🤔 You mean to tell me that Trump's plan to deport 11 million+ immigrants is not going to cause additional spending? You mean to say that Trump's wall, was going to be free? Mexico certainly was not going to pay for it...

www.usmessageboard.com

It's you.

 

[Toddsterpatriot]

You ignored every point I made, but others won't. Capitalism also relies on our dime:

Rank	Parent	Subsidy Value	Number of Awards
1	Boeing	$15,496,865,703	958
2	Intel	$8,421,707,656	135
3	Ford Motor	$7,742,056,086	703
4	General Motors	$7,524,714,800	792
5	Micron Technology	$6,790,131,915	21
6	Amazon.com	$5,823,705,434	460
7	Alcoa	$5,727,691,764	134
8	Cheniere Energy	$5,617,152,523	43
9	Foxconn Technology Group (Hon Hai Precision Industry Company)	$4,820,110,112	74
10	Venture Global LNG	$4,338,702,441	8
11	Texas Instruments	$4,286,328,869	69
12	Volkswagen	$3,977,630,513	217
13	Sempra Energy	$3,828,022,782	51
14	NRG Energy	$3,415,751,518	266
15	NextEra Energy	$3,008,691,129	116
16	Sasol	$2,836,049,845	72
17	Tesla Inc.	$2,829,855,494	114
18	Stellantis	$2,795,436,436	213
19	Walt Disney	$2,543,219,673	265
20	Nucor	$2,538,761,123	176
21	Iberdrola	$2,380,558,984	110
22	Rivian Automotive Inc.	$2,364,054,012	7
23	Hyundai Motor	$2,349,743,470	18
24	Oracle	$2,272,418,288	96
25	Shell PLC	$2,211,676,001	132
26	Mubadala Investment Company	$2,124,035,097	62
27	Nike	$2,104,917,829	153
28	Meta Platforms Inc.	$2,098,261,272	82
29	Toyota	$2,071,010,689	239
30	Alphabet Inc.	$2,054,325,527	125
31	Brookfield Corporation	$1,979,408,388	288
32	Paramount Global	$1,974,249,897	342
33	Comcast	$1,927,402,844	405
34	Exxon Mobil	$1,917,119,478	241
35	Samsung Electronics	$1,891,136,597	41
36	Apple Inc.	$1,845,004,670	63
37	Nissan	$1,842,814,165	98
38	Berkshire Hathaway	$1,830,986,253	1,200
39	Summit Power	$1,783,593,414	6
40	JPMorgan Chase	$1,740,972,699	1,151
41	Energy Transfer	$1,736,836,843	175
42	Cleveland-Cliffs	$1,705,497,604	129
43	Southern Company	$1,694,958,172	45
44	General Electric	$1,645,135,367	958
45	Vornado Realty Trust	$1,623,857,336	33
46	Duke Energy	$1,580,421,869	86
47	Wolfspeed Inc.	$1,563,595,610	64
48	General Atomics	$1,510,875,891	112
49	IBM Corp.	$1,497,901,697	368
50	Lockheed Martin	$1,462,674,082	325
51	OGE Energy	$1,427,570,182	15
52	SCS Energy	$1,419,011,796	5
53	Corning Inc.	$1,391,603,359	401
54	Panasonic	$1,384,147,584	61
55	Microsoft	$1,366,243,159	113
56	Sagamore Development	$1,320,000,000	2
57	Northrop Grumman	$1,284,014,883	285
58	Vingroup	$1,254,000,000	1
59	Continental AG	$1,244,875,478	111
60	RTX Corporation	$1,193,950,954	797
61	CF Industries	$1,134,394,215	131
62	Valero Energy	$1,053,812,692	207
63	Dow Inc.	$1,049,354,213	640
64	AES Corp.	$1,039,510,135	136
65	Air Products & Chemicals	$1,025,557,482	88
66	Exelon	$986,892,877	98
67	Pyramid Companies	$973,565,278	93
68	SK Holdings	$960,550,283	8
69	SkyWest	$944,296,654	339
70	Centene	$916,607,054	60
71	Mazda Toyota Manufacturing, U.S.A., Inc.	$900,000,000	1
72	Apollo Global Management	$897,750,089	594
73	Delta Air Lines	$871,485,833	13
74	Jefferies Financial Group	$871,137,335	16
75	SK Hynix	$866,700,000	2
76	Bayer	$852,475,226	217
77	Honda	$849,832,301	93
78	Shin-Etsu Chemical	$828,683,936	106
79	Enterprise Products Partners	$826,988,371	89
80	SunEdison	$817,425,725	115
81	Goldman Sachs	$800,873,386	253
82	Bank of America	$798,426,128	956
83	E.ON	$786,865,473	40
84	Warner Bros. Discovery Inc.	$786,835,708	219
85	EDF-Electricite de France	$774,590,441	36
86	Triple Five Worldwide	$748,000,000	4
87	EDP-Energias de Portugal	$733,674,868	14
88	Related Companies	$714,675,504	8
89	Koch Industries	$683,066,388	510
90	Caithness Energy	$672,688,888	30
91	Dell Technologies	$658,417,951	185
92	Wells Fargo	$657,333,216	542
93	FedEx	$647,035,546	633
94	Entergy	$638,533,387	235
95	OCI N.V.	$627,879,406	5
96	Eli Lilly	$623,326,368	79
97	Chevron Phillips Chemical	$619,839,444	20
98	Bedrock Detroit	$618,000,000	1
99	Dominion Energy	$615,436,089	79

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Capitalism makes its profits private and its losses public, forcing society to bail them out.

Tell liberal states to stop handing tax dollars to corporations.

 

[Delldude]

Cronyism is endemic to capitalism unless you have a strong nationalist, socialist government that puts capitalists in their proper place (as well as politicians who hold office for the wrong reasons).

Why is it then those type of ideology based governments are more corrupt than the dreaded capitalists?

 

[TruthNotBS]

Why is it then those type of ideology based governments are more corrupt than the dreaded capitalists?

As if the US government isn't based on ideology, or isn't corrupt. It's amazing how confused you are.

 

[Delldude]

As if the US government isn't based on ideology, or isn't corrupt. It's amazing how confused you are.

Well from what we see around the world, it 'appears' our system may be less corrupt than, say, Ukraine or Russia or China, to name a few, except here you can become a member of congress and become filthy rich in a matter of years....

 

[Soupnazi630]

I'm right, you're wrong.



Capitalists in pursuit of profits have murdered hundreds of millions of people. If you count dead unborn babies, add another 100 million right off the bat.




You're a delusional, brainwashed drone, defending his capitalist, genocidal masters.

Nooe you are wrong and proven so

Capitalists ghave murdered no one in the name of capitalism

You are defending evil

 

[Soupnazi630]

As if the US government isn't based on ideology, or isn't corrupt. It's amazing how confused you are.

Governemtns are always corrupt to one degree or another.

Ideologies vary however and marxism / communism/ socialism are the most corrupt of all

they have murdered more than any other ideology.

Capitalists have crime and corruption but no one has bothered to murder others in the name of capitalism