Quantum Windbag
Gold Member
- May 9, 2010
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The report is not facts. The report is a collection of opinions of various experts, AKA talking heads. The dissenters in the report actually point out roughly the same thing I do, that the CRA, and the continued efforts to expand it to all banks, contributed to the problem by encouraging banks to make loans to sub prime borrowers in an public affairs effort to undermine the effort to expand the CRA.
Which set of "facts" should I pay attention to?
Show me ANY OTHER report ANYWHERE that is as comprehensive as this report.
Something, anything, someplace, SOMEWHERE. Where is it?
Sure it contributed to the problem.
CONTRIBUTED TO THE PROBLEM.
It was NOT THE PROBLEM.
You know it wasn't so admit it and move on.
Anyone that believes CRA, a stupid law that affected less than 10% OF ALL DOLLARS LOANED, caused the financial meltdown is a dumb ass.
I don't believe YOU believe it caused it. You are an ideologue first and this report does not match your ideology. So you ignore it.
And listen to your own set of talking heads that are not trained in the financial sector.
Rush and Sean are ENTERTAINER talking heads.
And QW, how about the FACT that CRA loans WERE ONE HALF as likely to fail in low income areas as A REGULAR LOAN?
Guess why that has to be fact? Take a long long look at the facts QW. Take off the blinders and put on a real helmet (preferably a red one with a G), tighten that chin strap and answer that question.
Answer: CRA loans were LESS THAN 10% OF THE MARKET DOLLAR WISE.
And you claim small loans caused the meltdown?
CONTRIBUTED yes, BUT WERE NOT THE PROBLEM.
Personal accountability. People NOT PAYING THEIR PROMISES caused it. Banks loaning speculative real estate-you know? THE OTHER 90% which were high end loans.
Conservatives never blame others when they do not pay their bills. That is a liberal trait.
Am I supposed to be insulted because you do not like the fact that I point out the dissent to the report you are so eager to cite makes the very points that destroy your argument? It is not a liberal trait to insist that all of the facts and opinions be considered, that is the trait of a critical thinker. You getting your back up, and insisting that the only view that matters is the one you agree with, is a partisan trait.
Deal with the dissent, which is part of the report, or ignore the whole report. Make your choice and get back to me when you can admit that, just because you like something, it does not make you, or it, automatically right.