Capitalism seen doing 'more harm than good' in global survey

[Mac1958]

Yes, the question is the flexibility, efficiency and effectiveness of regulation, not the sheer amount, as Democrats seem to think.

The problem is that the Trumpsters are terrible, shallow, simplistic, misled, lousy representatives of capitalism.

Did you really post both of the above quotes or was one your evil twin?

And, not coincidentally, the interest in socialism grows.
.

Among who is the interest in Socialism growing? Ignorant people who have not yet experienced life or had Socialism explained to them.

No evil twin. Each side has a hand in messing this up. My point is pretty clear.

And you just provided an example of why Trumpsters are so lousy at educating people on this. Insults don't work.

Anything else?
.

Mac: Insults don't work.
Also Mac. Insults Trump supporters using a string of words, while not understanding the issues very well.

Make a relevant point. If you think I don't understand this topic, my profession, I look forward to hearing that, too.
.

 

[Norman]

Yes, the question is the flexibility, efficiency and effectiveness of regulation, not the sheer amount, as Democrats seem to think.

The problem is that the Trumpsters are terrible, shallow, simplistic, misled, lousy representatives of capitalism.

Did you really post both of the above quotes or was one your evil twin?

And, not coincidentally, the interest in socialism grows.
.

Among who is the interest in Socialism growing? Ignorant people who have not yet experienced life or had Socialism explained to them.

No evil twin. Each side has a hand in messing this up. My point is pretty clear.

And you just provided an example of why Trumpsters are so lousy at educating people on this. Insults don't work.

Anything else?
.

Mac: Insults don't work.
Also Mac. Insults Trump supporters using a string of words, while not understanding the issues very well.

Make a relevant point. If you think I don't understand this topic, my profession, I look forward to hearing that, too.
.

Regulation is your profession?

No it's not, the housing crisis may be, but NO ONE HERE IS TALKING ABOUT IT EXCEPT YOU!

Pro Trump Americans are talking about regulations such as the ones enacted by EPA etc. NO ONE IS AGAINST REGULATIONS OF FINANCIAL SCAM PRODUCTS SUCH AS CDS.

NAME a good regulation Trump has eliminated or get out...

 

[pknopp]

It isn't always true.

Proposed Senatobia roundabout may force businesses to close

You only discuss vast generalizations, not the reality.

I keep on providing examples and you keep on using the excuse that you do not support that. It's irrelevant if you support it or not. It is what we do in the name of "capitalism" and there is nothing capitalistic about it.

But we're not doing that in the 'name of capitalism'.

What a dumb thing to say. Really? So Obama stood up there and said "In the name of Capitalism, I'm using tax money to bailout GM, and sell it to the Unions, for their political support!"

Do you realize how incompetent that sounds? Who did that? No one. Not a single person.

When Clinton sent Andrew Cuomo to sue banks to force them to make bad sub-prime loans... was he saying "In the name of Capitalism, we're going to dictate what loans banks make!"? Of course not.

What dumb comment.

Internet poster "Government did this!"

Me " That's not capitalism, and Capitalist like me oppose it"

Internet poster "you are making excuses!"

What?? Your arguments are dumb sir. Really dumb.

You only discuss vast generalizations, not the reality.

Basing your entire argument on the exceptions, is bad logic.
Life is not defined by the exceptions.

This is like claiming that the entire Soviet Union was Capitalist... because a few dozen farms were in fact privately owned for profit businesses. The massive socialized farms in the USSR, were failing so bad, that even Stalin allowed a small collection of private for-profit capitalist farms.

It's a ridiculous claim. The soviet union was socialized. They had a few splatterings of capitalism, but they were very much socialized.

The US is a capitalist based economy. We have a few splatterings of socialism, and we fight against them. But we are capitalist in nature by any possible measure.

If those running the economy are not running it under capitalism, we are not a capitalistic nation.

Under capitalism the government doesn't run the economy, dumbass.

Which in part is why we are not a capitalist country.

Then why are you constantly whining about capitalism?

I'm not interested in your circular argument.

 

[Mac1958]

Yes, the question is the flexibility, efficiency and effectiveness of regulation, not the sheer amount, as Democrats seem to think.

The problem is that the Trumpsters are terrible, shallow, simplistic, misled, lousy representatives of capitalism.

Did you really post both of the above quotes or was one your evil twin?

And, not coincidentally, the interest in socialism grows.
.

Among who is the interest in Socialism growing? Ignorant people who have not yet experienced life or had Socialism explained to them.

No evil twin. Each side has a hand in messing this up. My point is pretty clear.

And you just provided an example of why Trumpsters are so lousy at educating people on this. Insults don't work.

Anything else?
.

Mac: Insults don't work.
Also Mac. Insults Trump supporters using a string of words, while not understanding the issues very well.

Make a relevant point. If you think I don't understand this topic, my profession, I look forward to hearing that, too.
.

Regulation is your profession?

No it's not, the housing crisis may be, but NO ONE HERE IS TALKING ABOUT IT EXCEPT YOU!

Pro Trump Americans are talking about regulations such as the ones enacted by EPA etc. NO ONE IS AGAINST REGULATIONS OF FINANCIAL SCAM PRODUCTS SUCH AS CDS.

NAME a good regulation Trump has eliminated or get out...

I'll continue to make my point. If you don't like that, tough shit.

I'm amazed at the amount of whining you people do about me.

It's a little creepy, but it's definitely satisfying.
.

 

[Norman]

Did you really post both of the above quotes or was one your evil twin?

Among who is the interest in Socialism growing? Ignorant people who have not yet experienced life or had Socialism explained to them.

No evil twin. Each side has a hand in messing this up. My point is pretty clear.

And you just provided an example of why Trumpsters are so lousy at educating people on this. Insults don't work.

Anything else?
.

Mac: Insults don't work.
Also Mac. Insults Trump supporters using a string of words, while not understanding the issues very well.

Make a relevant point. If you think I don't understand this topic, my profession, I look forward to hearing that, too.
.

Regulation is your profession?

No it's not, the housing crisis may be, but NO ONE HERE IS TALKING ABOUT IT EXCEPT YOU!

Pro Trump Americans are talking about regulations such as the ones enacted by EPA etc. NO ONE IS AGAINST REGULATIONS OF FINANCIAL SCAM PRODUCTS SUCH AS CDS.

NAME a good regulation Trump has eliminated or get out...

I'll continue to make my point. If you don't like that, tough shit.

I'm amazed at the amount of whining you people do about me.

It's a little creepy, but it's definitely satisfying.
.

Have you been diagnosed with difficulties in communication?

 

[Mac1958]

Have you been diagnosed with difficulties in communication?

Yes. I have a difficult time communicating with nutters, particularly online.

One of my myriad character flaws.

I'm sure you'll stop humping my leg now.
.

 

[Norman]

Have you been diagnosed with difficulties in communication?

Yes. I have a difficult time communicating with nutters, particularly online.

One of my myriad character flaws.

I'm sure you'll stop humping my leg now.
.

No honestly, it does not seem like you are registering what is being said at all. Have you been diagnosed with something?

 

[Mac1958]

Have you been diagnosed with difficulties in communication?

Yes. I have a difficult time communicating with nutters, particularly online.

One of my myriad character flaws.

I'm sure you'll stop humping my leg now.
.

No honestly, it does not seem like you are registering what is being said at all. Have you been diagnosed with something?

No, I don't think so.
.

 

[bripat9643]

But we're not doing that in the 'name of capitalism'.

What a dumb thing to say. Really? So Obama stood up there and said "In the name of Capitalism, I'm using tax money to bailout GM, and sell it to the Unions, for their political support!"

Do you realize how incompetent that sounds? Who did that? No one. Not a single person.

When Clinton sent Andrew Cuomo to sue banks to force them to make bad sub-prime loans... was he saying "In the name of Capitalism, we're going to dictate what loans banks make!"? Of course not.

What dumb comment.

Internet poster "Government did this!"

Me " That's not capitalism, and Capitalist like me oppose it"

Internet poster "you are making excuses!"

What?? Your arguments are dumb sir. Really dumb.

You only discuss vast generalizations, not the reality.

Basing your entire argument on the exceptions, is bad logic.
Life is not defined by the exceptions.

This is like claiming that the entire Soviet Union was Capitalist... because a few dozen farms were in fact privately owned for profit businesses. The massive socialized farms in the USSR, were failing so bad, that even Stalin allowed a small collection of private for-profit capitalist farms.

It's a ridiculous claim. The soviet union was socialized. They had a few splatterings of capitalism, but they were very much socialized.

The US is a capitalist based economy. We have a few splatterings of socialism, and we fight against them. But we are capitalist in nature by any possible measure.

If those running the economy are not running it under capitalism, we are not a capitalistic nation.

Under capitalism the government doesn't run the economy, dumbass.

Which in part is why we are not a capitalist country.

Then why are you constantly whining about capitalism?

I'm not interested in your circular argument.

It's your circular argument, moron.

 

[Norman]

Have you been diagnosed with difficulties in communication?

Yes. I have a difficult time communicating with nutters, particularly online.

One of my myriad character flaws.

I'm sure you'll stop humping my leg now.
.

No honestly, it does not seem like you are registering what is being said at all. Have you been diagnosed with something?

No, I don't think so.
.

You don't think so? So is that a yes or no?

 

[bripat9643]

Have you been diagnosed with difficulties in communication?

Yes. I have a difficult time communicating with nutters, particularly online.

One of my myriad character flaws.

I'm sure you'll stop humping my leg now.
.

That's because you are immune to facts and logic.

 

[Mac1958]

Have you been diagnosed with difficulties in communication?

Yes. I have a difficult time communicating with nutters, particularly online.

One of my myriad character flaws.

I'm sure you'll stop humping my leg now.
.

No honestly, it does not seem like you are registering what is being said at all. Have you been diagnosed with something?

No, I don't think so.
.

You don't think so? So is that a yes or no?

Okay, I'll to with "no".

Are you done?
.

 

[Norman]

Have you been diagnosed with difficulties in communication?

Yes. I have a difficult time communicating with nutters, particularly online.

One of my myriad character flaws.

I'm sure you'll stop humping my leg now.
.

No honestly, it does not seem like you are registering what is being said at all. Have you been diagnosed with something?

No, I don't think so.
.

You don't think so? So is that a yes or no?

Okay, I'll to with "no".

Are you done?
.

High/drunk?

Seems that Mac is not alright...

 

[Mac1958]

High/drunk?.

Not yet.

Do you think you can get this all out in one post? This is tedious, and getting a little weird. Go ahead and really let me have it.
.

 

[Norman]

High/drunk?.

Not yet.

Do you think you can get this all out in one post? This is tedious, and getting a little weird. Go ahead and really let me have it.
.

Dude, you are not reading what is said and staying barely coherent while making spelling errors. Don't be surprised if people question whether you are fine or not.

 

[Mac1958]

High/drunk?.

Not yet.

Do you think you can get this all out in one post? This is tedious, and getting a little weird. Go ahead and really let me have it.
.

Dude, you are not reading what is said and staying barely coherent while making spelling errors. Don't be surprised if people question whether you are fine or not.

Well, I'm at the office and a little distracted.

Are you done now? This stuff is far more important to you than it is to me.
.

 

[Markle]

The Trumpsters have been conned into believing the Meltdown was just about having to write mortgages. That's it. That's all. That's the whole story.

We don't need financial regulation! It's all the Dems' fault! It was the damn CRA! Barney Frank! It was HIM!

Let's see if anyone can answer these 12 specific questions, one by one, no deflection:

1. How did the CRA force the banks to create shitty, opaque CMOs and the even more hideous CDOs that didn't even fully INCLUDE shit mortgages?
2. How did the CRA force mortgage companies to SELL OFF those shit mortgages to the banks to be put in those CMO's, often by the very next day?
   
3. How did the CRA force the ratings agencies to slap AAA (TREASURY-level) ratings on those shit securities, making them highly attractive to buy?
4. How did the CRA force mortgage companies to write no-doc loans with insane balloons, knowing they'd be sold off in 12 hours into a shit CMO at NO risk?
   
5. How did the CRA force the banks to threaten the ratings agencies with lost business if they didn't give them AAA ratings on shit securities?
   
6. How did the CRA force Alan Greenspan to REFUSE to regulate derivatives while CFTC Chairwoman Brooksley Borns was BEGGING him to?
7. How did the CRA force Greenspan to admit to CONGRESS after the Meltdown happened that he BLEW it, that markets had FAILED to regulate themselves?
   
8. How did the CRA force the banks to drop their standards to the ground when they needed more shit CMO's and CDO's to SELL OFF for huge fees?
9. How did the CRA force the banks to SHORT the VERY SAME shit securities they were selling to their CLIENTS, WHILE the whole fucking THING was COLLAPSING?
10. How did the CRA force GS & John Paulson to create shit CMO's that were SPECIFICALLY EXPECTED to FAIL so they could buy swaps on them, making Paulson $2 BILLION?
11. How did the CRA force banks to spin off companies that sold insane synthetic CDOs that had NOTHING to do with mortgages, but FLOODED them with fees & leverage?
    
12. How did the CRA force AIG to write zillions in credit default swaps with ZERO fucking reserves - REQUIRED for ANY OTHER insurance product - to back them up?

Looking forward to it. EDUCATE ME. I've posted these questions many times, no luck so far. I'm not surprised.
.

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
HUD Archives: Cuomo agrees w/Nat'l Urban League -- to Fight Housing Discrimination

###

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

###

August 5, 1997
President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

###

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg - Are you a robot?

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

###

Bloomberg News -
How the Democrats Created the Financial Crisis -
Bloomberg - Are you a robot?

###

Democrats in their own words covering up the Fannie Mae, Freddie Mac


###

Timeline shows Bush, McCain warning Democrats of Financial Crisis


###

From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae

###

From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

###

Wall Street Journal Barney’s Rubble – September 17, 2008
Barney's Rubble

###

Barney Frank in 2005: What Housing Bubble?


###

Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.
https://www.usnews.com/opinion/blog...rats-were-wrong-on-fannie-mae-and-freddie-mac

###

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street

All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.

 

[Mac1958]

The Trumpsters have been conned into believing the Meltdown was just about having to write mortgages. That's it. That's all. That's the whole story.

We don't need financial regulation! It's all the Dems' fault! It was the damn CRA! Barney Frank! It was HIM!

Let's see if anyone can answer these 12 specific questions, one by one, no deflection:

1. How did the CRA force the banks to create shitty, opaque CMOs and the even more hideous CDOs that didn't even fully INCLUDE shit mortgages?
2. How did the CRA force mortgage companies to SELL OFF those shit mortgages to the banks to be put in those CMO's, often by the very next day?
   
3. How did the CRA force the ratings agencies to slap AAA (TREASURY-level) ratings on those shit securities, making them highly attractive to buy?
4. How did the CRA force mortgage companies to write no-doc loans with insane balloons, knowing they'd be sold off in 12 hours into a shit CMO at NO risk?
   
5. How did the CRA force the banks to threaten the ratings agencies with lost business if they didn't give them AAA ratings on shit securities?
   
6. How did the CRA force Alan Greenspan to REFUSE to regulate derivatives while CFTC Chairwoman Brooksley Borns was BEGGING him to?
7. How did the CRA force Greenspan to admit to CONGRESS after the Meltdown happened that he BLEW it, that markets had FAILED to regulate themselves?
   
8. How did the CRA force the banks to drop their standards to the ground when they needed more shit CMO's and CDO's to SELL OFF for huge fees?
9. How did the CRA force the banks to SHORT the VERY SAME shit securities they were selling to their CLIENTS, WHILE the whole fucking THING was COLLAPSING?
10. How did the CRA force GS & John Paulson to create shit CMO's that were SPECIFICALLY EXPECTED to FAIL so they could buy swaps on them, making Paulson $2 BILLION?
11. How did the CRA force banks to spin off companies that sold insane synthetic CDOs that had NOTHING to do with mortgages, but FLOODED them with fees & leverage?
    
12. How did the CRA force AIG to write zillions in credit default swaps with ZERO fucking reserves - REQUIRED for ANY OTHER insurance product - to back them up?

Looking forward to it. EDUCATE ME. I've posted these questions many times, no luck so far. I'm not surprised.
.

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
HUD Archives: Cuomo agrees w/Nat'l Urban League -- to Fight Housing Discrimination

###

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

###

August 5, 1997
President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

###

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Bloomberg - Are you a robot?

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

###

Bloomberg News -
How the Democrats Created the Financial Crisis -
Bloomberg - Are you a robot?

###

Democrats in their own words covering up the Fannie Mae, Freddie Mac


###

Timeline shows Bush, McCain warning Democrats of Financial Crisis


###

From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae

###

From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

###

Wall Street Journal Barney’s Rubble – September 17, 2008
Barney's Rubble

###

Barney Frank in 2005: What Housing Bubble?


###

Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.
https://www.usnews.com/opinion/blog...rats-were-wrong-on-fannie-mae-and-freddie-mac

###

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street

All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.

Wow, look at all that.

Is that supposed to be some kind of answer to my 12 clear, specific questions?
.

 

[Markle]

The Trumpsters have been conned into believing the Meltdown was just about having to write mortgages. That's it. That's all. That's the whole story.

We don't need financial regulation! It's all the Dems' fault! It was the damn CRA! Barney Frank! It was HIM!

Let's see if anyone can answer these 12 specific questions, one by one, no deflection:

1. How did the CRA force the banks to create shitty, opaque CMOs and the even more hideous CDOs that didn't even fully INCLUDE shit mortgages?
2. How did the CRA force mortgage companies to SELL OFF those shit mortgages to the banks to be put in those CMO's, often by the very next day?
   
3. How did the CRA force the ratings agencies to slap AAA (TREASURY-level) ratings on those shit securities, making them highly attractive to buy?
4. How did the CRA force mortgage companies to write no-doc loans with insane balloons, knowing they'd be sold off in 12 hours into a shit CMO at NO risk?
   
5. How did the CRA force the banks to threaten the ratings agencies with lost business if they didn't give them AAA ratings on shit securities?
   
6. How did the CRA force Alan Greenspan to REFUSE to regulate derivatives while CFTC Chairwoman Brooksley Borns was BEGGING him to?
7. How did the CRA force Greenspan to admit to CONGRESS after the Meltdown happened that he BLEW it, that markets had FAILED to regulate themselves?
   
8. How did the CRA force the banks to drop their standards to the ground when they needed more shit CMO's and CDO's to SELL OFF for huge fees?
9. How did the CRA force the banks to SHORT the VERY SAME shit securities they were selling to their CLIENTS, WHILE the whole fucking THING was COLLAPSING?
10. How did the CRA force GS & John Paulson to create shit CMO's that were SPECIFICALLY EXPECTED to FAIL so they could buy swaps on them, making Paulson $2 BILLION?
11. How did the CRA force banks to spin off companies that sold insane synthetic CDOs that had NOTHING to do with mortgages, but FLOODED them with fees & leverage?
    
12. How did the CRA force AIG to write zillions in credit default swaps with ZERO fucking reserves - REQUIRED for ANY OTHER insurance product - to back them up?

Looking forward to it. EDUCATE ME. I've posted these questions many times, no luck so far. I'm not surprised.
.

Thomas Sowell on the root causes of the mortgage lending crisis

Superb article!

 

[Markle]

Let's see if anyone can answer these 12 specific questions, one by one, no deflection:

1. How did the CRA force the banks to create shitty, opaque CMOs and the even more hideous CDOs that didn't even fully INCLUDE shit mortgages?
2. How did the CRA force mortgage companies to SELL OFF those shit mortgages to the banks to be put in those CMO's, often by the very next day?
   
3. How did the CRA force the ratings agencies to slap AAA (TREASURY-level) ratings on those shit securities, making them highly attractive to buy?
4. How did the CRA force mortgage companies to write no-doc loans with insane balloons, knowing they'd be sold off in 12 hours into a shit CMO at NO risk?
   
5. How did the CRA force the banks to threaten the ratings agencies with lost business if they didn't give them AAA ratings on shit securities?
   
6. How did the CRA force Alan Greenspan to REFUSE to regulate derivatives while CFTC Chairwoman Brooksley Borns was BEGGING him to?
7. How did the CRA force Greenspan to admit to CONGRESS after the Meltdown happened that he BLEW it, that markets had FAILED to regulate themselves?
   
8. How did the CRA force the banks to drop their standards to the ground when they needed more shit CMO's and CDO's to SELL OFF for huge fees?
9. How did the CRA force the banks to SHORT the VERY SAME shit securities they were selling to their CLIENTS, WHILE the whole fucking THING was COLLAPSING?
10. How did the CRA force GS & John Paulson to create shit CMO's that were SPECIFICALLY EXPECTED to FAIL so they could buy swaps on them, making Paulson $2 BILLION?
11. How did the CRA force banks to spin off companies that sold insane synthetic CDOs that had NOTHING to do with mortgages, but FLOODED them with fees & leverage?
    
12. How did the CRA force AIG to write zillions in credit default swaps with ZERO fucking reserves - REQUIRED for ANY OTHER insurance product - to back them up?

Looking forward to it. EDUCATE ME. I've posted these questions many times, no luck so far. I'm not surprised.

Simple I can answer all twelve with one sentence.

CRA was an ACT, it did not do or force anything, nothing whatsoever.

QED