A reminder of how democrats led us to this mess

[Remodeling Maidiac]

It is 100% on your shoulders. Electing another traiter to this country will lead to a repeat. Obamacare is a prime example.




FUCK DEMOCRATS

 

[Remodeling Maidiac]

Dispute it

 

[Remodeling Maidiac]

Seallyboobo finds it funny. But he can't dispute it.

 

[sealybobo]

Dispute it

If you don't worship unregulated free market capitalism does that make you a traitor to America? Are you being dramatic?

But notice you worship your ism? Wow! Do you worship God or capitalism more?

 

[Remodeling Maidiac]

I get a lot of lol faces. I get no rational arguments as to why the video is wrong.

NONE

 

[Remodeling Maidiac]

Dispute it

If you don't worship unregulated free market capitalism does that make you a traitor to America? Are you being dramatic?

But notice you worship your ism? Wow! Do you worship God or capitalism more?

Fail

 

[Remodeling Maidiac]

The video provides the evidence & democrats CAN NOT refute it

 

[TheOldSchool]

Dispute it

Republicans run the house, senate, and Presidency from 2000 to 2006. But let's blame the Democrats!

 

[Remodeling Maidiac]

Not one dispute. A bunch of mindless, effortless lol faces.

Dems are powerless against facts

 

[TheOldSchool]

Not one dispute. A bunch of mindless, effortless lol faces.

Dems are powerless against facts

 

[Remodeling Maidiac]

Dispute it

Republicans run the house, senate, and Presidency from 2000 to 2006. But let's blame the Democrats!

Your god damn right. The gop feared they didn't have the votes. They failed. But they DID NOT CRASH THE AMERICAN ECONOMY. Democratic policy did that

 

[ScienceRocks]

Deregulations caused both the great depression and the great recession of 2008. You're a fucking idiot for wanting more of this. Fool!

Government needs to regulate or corporations take advantage of shit.

 

[sealybobo]

Not one dispute. A bunch of mindless, effortless lol faces.

Dems are powerless against facts

No one watched it including me. Want to run a negative attack ad? Pay for it and put it on TV.

And are you a democrat? Then why you messin in our primary?

 

[sealybobo]

Dispute it

Republicans run the house, senate, and Presidency from 2000 to 2006. But let's blame the Democrats!

Your god damn right. The gop feared they didn't have the votes. They failed. But they DID NOT CRASH THE AMERICAN ECONOMY. Democratic policy did that

Then why are they all so unelectable?

 

[ScienceRocks]

Republicans ruled the government in the late 20's and yet again during the 2000's. stop fucking blamin democrats for your dumb ass deregulation's failing.

 

[Remodeling Maidiac]

Dispute it

Republicans run the house, senate, and Presidency from 2000 to 2006. But let's blame the Democrats!

Your god damn right. The gop feared they didn't have the votes. They failed. But they DID NOT CRASH THE AMERICAN ECONOMY. Democratic policy did that

Then why are they all so unelectable?

Because ignorance buys votes. FACT

 

[Dad2three]

It is 100% on your shoulders. Electing another traiter to this country will lead to a repeat. Obamacare is a prime example.




FUCK DEMOCRATS

Private sector loans, not Fannie or Freddie, triggered crisis


Talk radio and the blogosphere are pushing the idea that the stock market meltdown and the freeze on credit was triggered by finance giants Fannie Mae's and Freddie Mac's lending money to poor and minority Americans. But federal housing data reveal that that charge isn't true. Instead, it was the private sector that was behind the soaring subprime lending at the core of the crisis.



Private sector loans, not Fannie or Freddie, triggered crisis




Another Conservative Myth Busted -- Did Fannie and Freddie Really Cause the Financial Sector Meltdown?



Another Big Lie circulating among conservatives is the belief that the Wall Street meltdown was caused by Fannie Mae and Freddie Mac, the Community Reinvestment Act (CRA), Rep. Barney Frank or some combination thereof.

Subprime lending surged from 2004 to 2006 during the height of the housing bubble. According to Kimberly Amadeo in an article titled "Did Freddie and Fannie Cause the Housing Crisis":

"Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. Even so, by 2007 only 17 percent of their total portfolio was either either subprime or Alt-A loans. Due to regulations, their percentage of these loans are actually better than many banks."

As David Goldstein and Kevin G. Hall write in the McClatchy Newspapers:

"During those same explosive three years, private investment banks -- not Fannie and Freddie -- dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data."

According to David M. Abromowitz and David Min writing for the Center of American Progress:

"If the conservative view was correct, one would expect to see mortgages originated for Fannie and Freddie securitization, as well as those originated for purposes of CRA, to default at higher rates, since these were the loans directly subject to affordable housing policies. In fact, we see quite the opposite, as these loans have performed exponentially better than those originated for private securitization, which the FCIC Republicans ignore."

The fact that the housing bubble occurred contemporaneously in other countries such as Iceland, Ireland, and the United Kingdom also dispels the conservative myth.

Another Conservative Myth Busted -- Did Fannie and Freddie Really Cause the Financial Sector Meltdown?

Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush’s President’s Working Group on Financial Markets October 2008

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”



Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)

Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals(2004)
Lowering Investment bank's capital requirements, Net Capital rule (2004)
Reversing the Clinton rule that restricted GSEs purchases of subprime loans (2004)
Lowering down payment requirements to 0% (2004)
Forcing GSEs to spend an additional $440 billion in the secondary markets (2004)
Giving away 40,000 free down payments per year2004-2007
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING (2004)


But the biggest policy was regulators not enforcing lending standards.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum

 

[Dad2three]

I get a lot of lol faces. I get no rational arguments as to why the video is wrong.

NONE

Barney Frank in an out of context vid? PLEASE tell me what super duper powers Barney had as the MINORITY member of the GOP majority House 1995-Jan 2007 where SIMPLE MAJORITY RULED?


Financial Crisis Inquiry Commission: Fannie And Freddie "Followed Rather Than Led Wall Street And Other Lenders In The Rush For Fool's Gold."

McClatchy: During Bubble Years, "Private Investment Banks -- Not Fannie And Freddie -- Dominated The Mortgage Loans That Were Packaged And Sold."

McClatchy: "Federal Housing Data Reveal That Charges" Against Fannie And Freddie "Aren't True."


Investor Barry Ritholz: Narrative That Fannie/Freddie Caused The Crisis Is "The Big Lie" Of Financial Crisis.

Wall Street has its own version: Its Big Lie is that banks and investment houses are merely victims of the crash. You see, the entire boom and bust was caused by misguided government policies. It was not irresponsible lending or derivative or excess leverage or misguided compensation packages, but rather long-standing housing policies that were at fault.

Indeed, the arguments these folks make fail to withstand even casual scrutiny. But that has not stopped people who should know better from repeating them.

[...]

Congress did radically deregulate the financial sector, doing away with many of the protections that had worked for decades. Congress allowed Wall Street to self-regulate, and the Fed the turned a blind eye to bank abuses.

The previous Big Lie -- the discredited belief that free markets require no adult supervision -- is the reason people have created a new false narrative.


What caused the financial crisis? The Big Lie goes viral

 

[Dad2three]

Dispute it

Fannie, Freddie to Suffer Under New Rule, Frank Says

Fannie Mae and Freddie Mac would suffer financially under a Bush administration requirement that they channel more mortgage financing to people with low incomes, said the senior Democrat on a congressional panel that sets regulations for the companies.


So if your narrative is "GSEs are to blame" then you have to blame bush


http://democrats.financialservices....s/112/06-17-04-new-fannie-goals-bloomberg.pdf

une 17, 2004


Builders to fight Bush's low-income plan


NEW YORK (CNN/Money) - Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday

Home builders fight Bush's low-income housing - Jun. 17, 2004


LOL

Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."

 

[TheOldSchool]

Dispute it

Republicans run the house, senate, and Presidency from 2000 to 2006. But let's blame the Democrats!

Your god damn right. The gop feared they didn't have the votes. They failed. But they DID NOT CRASH THE AMERICAN ECONOMY. Democratic policy did that

Yeah! The Democrats, who were EXCRUTIATINGLY DEMONIZED for THE ENTIRE BUSH PRESIDENCY by you ASSHOLES, crashed the economy! Even though they controlled NOTHING, and you BASTARDS were able to flush the country down the toilet because the opposition had no means to fight back!

Not enough coffins coming home draped in flags for you these days gramps?