A reminder of how democrats led us to this mess

[Dad2three]

Isn't the Information Age great?! When everybody has their own "facts." Democrat/Republican Conservative/Liberal can prove their point with a few finger movements. Look here: all is as I say because I looked for and found everything that supports my point of view. The Internet is fucking wunderbar!!

Edit: Fuck people that vote straight tickets.

Got it dumfukk, don't use logic or reasoning, just "believe" good little patsy, lol

I get it. Pulling that lever for every candidate with their respective party symbol in front or behind of makes someone feel better about themselves. Seriously? Logic and reasoning tells you that every person running as a D or R is worthy of your vote. Voting party affiliation over self interest is a logical and reasonable action. By the way you spelled that shit wrong son. It's dumb fuck.

Without FALSE PREMISES, distortions and lies, WHAT WOULD RIGHT WINGERS EVER HAVE BUBBA?

But yes, CONservatives, whether GOP or CONservaDems are generally on the wrong side of history

AND IF THE BEST YOU HAVE IS TO USE YOUR TINY BRAIN TO SAY BOTH SIDES HAVE "FACTS", GET OFF YOUR BUMPER STICKER READING BREAK AND TRY TO USE CRITICAL THINKING! There ARE definitive, straight forward verifiable FACTS LIKE BARNEY FRANK (OR ANY DEM IN THE GOP MAJORITY HOUSE 1995-2007) COULD DO ABSOLUTELY ZERO TO STOP ANY GOP BILL FROM PASSING THAT HOUSE OF CONGRESS! Barney could run nekkid through the halls on fire, and not stop the GOP 1995-Jan 2007!

The irony impaired far left drones and their comments!

Obama lied people died..

Obama also violated the War Powers Resolution, a law he has specifically proclaimed to be Constitutionally valid, when committing U.S. troops to Libya without Congressional approval. Or as Sullivan put it in 2011, "I'm with Conor. The war in Libya becomes illegal from now on. And the imperial presidency grows even more powerful."

The Biggest Obama Scandals Are Proven and Ignored

And that from a far left source..

lol

Weird the GOP isn't looking into it right ?

 

[Vigilante]

 

[HUGGY]

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

NONE

The video is wrong because Barney Frank is a flawed human being. He is a fag. I have a hard time believing anything a queer says. Ol Barney has a right to say what he wants but his credibility is damaged.

Just curious? Do you have an extensive fag video collection?

That would make you a flawed human being and in no position to decide and spew about who was responsible for anything.

 

[auditor0007]

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

Dems are powerless against facts

Who had control of Congress? As I recall, that child molester was heading up the House at the time, and Republicans also had control of the Senate. Funny thing about the housing crash. While there were many bad loans made, the truth is that we built too many houses. That was the real reason for the crash. People were buying and flipping houses like crazy with the interest rates being so low. Housing prices were going through the roof, then all of a sudden one day, all those speculators realized the only people buying houses were other speculators. And then it all came crashing down. When that happened, the home building industry crashed and then the snowball started. As hard working people lost their jobs, that is when it got worse, because then they could no longer pay their mortgages.

As much as the bad loans were a problem, the real problem was with Alan Greenspan keeping interest rates too low for so long. But hey, I know most of you cons worship Greenspan, so go ahead and blame Democrats who didn't even control Congress, because it was obviously their fault. You guys crack me up as usual.

 

[Dad2three]

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

Dems are powerless against facts

Who had control of Congress? As I recall, that child molester was heading up the House at the time, and Republicans also had control of the Senate. Funny thing about the housing crash. While there were many bad loans made, the truth is that we built too many houses. That was the real reason for the crash. People were buying and flipping houses like crazy with the interest rates being so low. Housing prices were going through the roof, then all of a sudden one day, all those speculators realized the only people buying houses were other speculators. And then it all came crashing down. When that happened, the home building industry crashed and then the snowball started. As hard working people lost their jobs, that is when it got worse, because then they could no longer pay their mortgages.

As much as the bad loans were a problem, the real problem was with Alan Greenspan keeping interest rates too low for so long. But hey, I know most of you cons worship Greenspan, so go ahead and blame Democrats who didn't even control Congress, because it was obviously their fault. You guys crack me up as usual.

Did the Fed Cause the housing Bubble?

According to research by Ambrogio Cesa-Bianchi and Alessandro Rebucci, the housing bubble was caused by "regulatory rather than monetary-policy failures"

Economist's View: Did the Fed Cause the housing Bubble?



Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.


http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf



Banks used cheap capital to create a bubble. Their lending strategies fueled and fed off the housing bubble, and they did so using mortgage products whose performance was premised on continued growth of that bubble.


after the Fed started to tighten its monetary-policy stance and the prime segment of the mortgage market promptly turned around, the subprime segment of the mortgage market continued to boom, with increased perceived risk of loans portfolios and declining lending standards. Despite this evidence, the first regulatory action to rein in those financial excesses was undertaken only in late 2006, after almost two years of steady increases in the federal funds rate. …

When regulators finally decided to act, it was too late

Was it easy money or easy regulation that caused the housing bubble? | AEIdeas

 

[Dad2three]

A McKinsey Global Institute report noted “from 2000 through 2007, a remarkable run-up in global home prices occurred.” It is highly unlikely that a simultaneous boom and bust everywhere else in the world was caused by one set of factors (ultra-low rates, securitized AAA-rated subprime, derivatives) but had a different set of causes in the United States.

Examining the big lie: How the facts of the economic crisis stack up | The Big Picture

 

[Dad2three]

November 27, 2007

A Snapshot of the Subprime Market



Dollar amount of subprime loans outstanding:

2007 $1.3 trillion

Dollar amount of subprime loans outstanding in 2003: $332 billion

Percentage increase from 2003: 292%


Number of subprime mortgages made in 2005-2006 projected to end in foreclosure:

1 in 5



Proportion of subprime mortgages made from 2004 to 2006 that come with "exploding" adjustable interest rates: 89-93%


Proportion approved without fully documented income: 43-50%


Proportion with no escrow for taxes and insurance: 75%



Proportion of completed foreclosures attributable to adjustable rate loans out of all loans made in 2006 and bundled in subprime mortgage backed securities: 93%


Subprime share of all mortgage originations in 2006: 28%


Subprime share of all mortgage origination in 2003: 8%

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

 

[Dad2three]

Let's go through some things we know.

1. Private markets, rather than the GSEs, created the subprime mortgage boom.


2. The Community Reinvestment Act and the GSE's affordability mission didn't cause the crisis




3. There's a lot of research to back this up and little against it.


No, Marco Rubio, government did not cause the housing crisis - The Washington Post


The Myth of Fannie Mae, Freddie Mac, Barney Frank, the Housing Bubble and the Recession



Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. That’s right — most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie.

Look at the numbers. While the credit bubble was peaking from 2003 to 2006, the amount of loans originated by Fannie and Freddie dropped from $2.7 trillion to $1 trillion. Meanwhile, in the private sector, the amount of subprime loans originated jumped to $600 billion from $335 billion and Alt-A loans hit $400 billion from $85 billion in 2003. Fannie and Freddie, which wouldn’t accept crazy floating rate loans, which required income verification and minimum down payments, were left out of the insanity.



The Myth of Fannie Mae, Freddie Mac, Barney Frank, the Housing Bubble and the Recession | The Long Goodbye




“The idea that they were leading this charge is just absurd,” said Guy Cecala, publisher of Inside Mortgage Finance, an authoritative trade publication. “Fannie and Freddie have always had the tightest underwriting on earth…They were opposite of subprime.”



Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown - The Daily Beast


WORLD WIDE CREDIT BUBBLE AND BUST. ONE DUBYA CHEERED ON IN THE US

 

[Dad2three]

recent report from the Feds states that aggressive real estate investors investors played a major role in today’s housing crisis which has led to record amounts of foreclosure across the country, especially in hard-hit states like California, Florida, Nevada, and Arizona. In these states the average home price nearly doubled in just six years from 2000 to 2006.

In 2006, about a third of all home loans originated that year were granted to borrowers who already owned one or more properties. The researchers report that a large amount of property owners during the boom years owned three or more homes.


The report from the Fed says that mortgage lenders should regulate properties purchased by investors to avoid future housing problems. Researchers point out that China now requires real estate investors to pay more of a down payment than normal buyers along with a higher interest rate as well. -

House Flippers Caused the Housing Crisis, Says Feds | LoanSafe.org

 

[Dad2three]

The idea that they were leading this charge is just absurd,” said Guy Cecala, publisher of Inside Mortgage Finance, an authoritative trade publication. “Fannie and Freddie have always had the tightest underwriting on earth…They were opposite of subprime.”


Mortgages financed by Wall Street from 2001 to 2008 were 4½ times more likely to be seriously delinquent than mortgages backed by Fannie and Freddie.

Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown - The Daily Beast

 

[LoneLaugher]

Where the hell did Gramps go? He asked for comments. He challenged others to dispute his video. He mocked others for not being able to dispute his video. Then.....when people disputed his video.....he disappears, leaving a plagiarist to take up his argument.

Weak sauce.

 

[frigidweirdo]

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




FUCK DEMOCRATS

What US politicians are best at, assigning blame to someone else.

 

[candycorn]

We're supposed to believe a bunch of edited together video clips? Loose Change 9/11 did a better job of framing people.

 

[Dad2three]

Dispute it

WTF HAPPENED TO YOU BUBS, YOU THREAD HAS BEEN DESTROYED, lol

 

[Remodeling Maidiac]

Dispute it

WTF HAPPENED TO YOU BUBS, YOU THREAD HAS BEEN DESTROYED, lol

You've posted plenty of OPINIONS, nothing more. I posted FACTS about the dems being warned and blindly ignoring those warnings.

Opinions of economists =/= facts

 

[Dad2three]

Dispute it

WTF HAPPENED TO YOU BUBS, YOU THREAD HAS BEEN DESTROYED, lol

You've posted plenty of OPINIONS, nothing more. I posted FACTS about the dems being warned and blindly ignoring those warnings.

Opinions of economists =/= facts

Sure you did DUMMY, Hint it's the OPPOSITE OF THAT, I PRESENTED FACTS BACKED UP WITH CREDIBLE LINKS. You presented an out of context vid that gave the Dems some type of super powers in the GOP majority House where it took simple majority to pass ANYTHING! lol

 

[Dad2three]

Dispute it

WTF HAPPENED TO YOU BUBS, YOU THREAD HAS BEEN DESTROYED, lol

You've posted plenty of OPINIONS, nothing more. I posted FACTS about the dems being warned and blindly ignoring those warnings.

Opinions of economists =/= facts

Fannie, Freddie to Suffer Under New Rule, BARNEY 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

June 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




No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom: The first thing to point out is that the both the subprime mortgage boom and the subsequent crash are very much concentrated in the private market, especially the private label securitization channel (PLS) market. The Government-Sponsored Entities (GSEs, or Fannie and Freddie) were not behind them. The fly-by-night lending boom, slicing and dicing mortgage bonds, derivatives and CDOs, and all the other shadiness of the mortgage market in the 2000s were Wall Street creations, and they drove all those risky mortgages.

Here’s some data to back that up: “More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions… Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.”


“But from 2002-2005, [GSEs] saw a fairly precipitous drop in market share, going from about 50% to just under 30% of all mortgage originations. Conversely, private label securitization [PLS] shot up from about 10% to about 40% over the same period. This is, to state the obvious, a very radical shift in mortgage originations that overlapped neatly with the origination of the most toxic home loans.”


2. The government’s affordability mission didn’t cause the crisis:



3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.



4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now

MY FAV:

AEI'S Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”




LOL

 

[Dad2three]

Dispute it

WTF HAPPENED TO YOU BUBS, YOU THREAD HAS BEEN DESTROYED, lol

You've posted plenty of OPINIONS, nothing more. I posted FACTS about the dems being warned and blindly ignoring those warnings.

Opinions of economists =/= facts

"The idea that they were leading this charge is just absurd,” said Guy Cecala, publisher of Inside Mortgage Finance, an authoritative trade publication. “Fannie and Freddie have always had the tightest underwriting on earth…They were opposite of subprime.”"


Mortgages financed by Wall Street from 2001 to 2008 were 4½ times more likely to be seriously delinquent than mortgages backed by Fannie and Freddie.

Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown - The Daily Beast

 

[Dad2three]

The Myth of Fannie Mae, Freddie Mac, Barney Frank, the Housing Bubble and the Recession



Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. That’s right — most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie.

Look at the numbers. While the credit bubble was peaking from 2003 to 2006, the amount of loans originated by Fannie and Freddie dropped from $2.7 trillion to $1 trillion. Meanwhile, in the private sector, the amount of subprime loans originated jumped to $600 billion from $335 billion and Alt-A loans hit $400 billion from $85 billion in 2003. Fannie and Freddie, which wouldn’t accept crazy floating rate loans, which required income verification and minimum down payments, were left out of the insanity.



The Myth of Fannie Mae, Freddie Mac, Barney Frank, the Housing Bubble and the Recession | The Long Goodbye

 

[NYcarbineer]

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

NONE

The Republicans held the presidency and Congress for 6 years going into the financial crisises. If there was a legislative solution to avoid the coming problems, it was in their hands and their power to avoid them.