Dinesh D’Souza’s "America"

I said "That the Democrats are the provenance of the problem.....and the bar to the solution."


And your post pertained to that......how?

Ahhhhh, the perpetual dumb act!!!

My post unassailably, as exposed by your dumb act, put the lie to your claim that the powerless Dems were the problem by showing that the GOP blocked every bill in the committees they controlled.


Of course it did no such thing.

They blocked every attempt at resolution.




And more to the point...."I said "That the Democrats are the provenance of the problem.....and the bar to the solution."


And you have tap-danced as though on hot coals.

I suspect you realize your position is built on lies.




Perhaps you'd care to answer what Dot Coma would not, could not:

If Democrat policy, beginning with Franklin Roosevelt, to ignore the Constitution, and involve government in the private market, had not taken place.....

....would there have been a mortgage meltdown?



Or....return to the tap-dancing.

If Democrat policy, beginning with Franklin Roosevelt, to ignore the Constitution, and involve government in the private market, had not taken place.....

....would there have been a mortgage meltdown?



GSE'S WERE AROUND FOR 70 YEARS, WHAT HAPPENED? Every USA Prez had a housing push, ONLY Reagan ignored the S&L regulator (Mr Gray) in 1984 AND Dubya did the same in 2004, actually doing MUCH more!


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."



FACTS on Dubya's great recession


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.”



Q Did the Community Reinvestment Act under Carter/Clinton caused it?


A "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "
http://www.federalreserve.gov/newsevents/speech/20081203_analysis.pdf

Q Why would Bush’s regulators let banks lower their lending standards?

A. Federal regulators at the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision work for Bush and he was pushing his “Ownership Society” programs that was a major and successful part of his re election campaign in 2004. And Bush’s regulators not only let banks do this, they attacked state regulators trying to do their jobs. 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
Lowering Invesntment bank’s capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING


But the biggest policy was regulators not enforcing lending standards.


http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html



Examining the big lie: How the facts of the economic crisis stack up


•The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.

Sept09_CF1.jpg




•Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.

Private lenders not subject to congressional regulations collapsed lending standards.


http://www.ritholtz.com/blog/2011/1...ow-the-facts-of-the-economic-crisis-stack-up/
 
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Of course it did no such thing.

They blocked every attempt at resolution.
They being the GOP because the Dems were powerless to block anything in committee and every bill got blocked in committee!!!

You are wearing out the dumb act pretending you are too stupid to know you lied when you said the Dems used the 60 vote threshold to block all the GOP bills. All it takes is a simple majority to move a bill out of committee and the GOP held a majority in every committee.

Get it now?????




Another lie.

In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.



Freddie Mac Tried to Kill Republican Regulatory Bill in 2005 | Fox News
 
And,....again....I must demand better opponents!!!!!!


You should realize how badly you are about to get burned when the old timer thanks you for a post.......

Now....observe as I eviscerate you....and the other mental midget.



1. "It was in 2005 that the GSEs—which had been acquiring increasing numbers of subprime and Alt-A loans for many years in order to meet their HUD-imposed affordable housing requirements—accelerated the purchases that led to their 2008 insolvency. If legislation along the lines of the Senate committee's bill had been enacted in that year, many if not all the losses that Fannie and Freddie have suffered, and will suffer in the future, might have been avoided.

Why was there no action in the full Senate? As most Americans know today, it takes 60 votes to cut off debate in the Senate, and the Republicans had only 55. To close debate and proceed to the enactment of the committee-passed bill, the Republicans needed five Democrats to vote with them. But in a 45 member Democratic caucus that included Barack Obama and the current Senate Banking Chairman Christopher Dodd (D., Conn.), these votes could not be found.

... Obama has taken to accusing others of representing "special interests." In an April radio address he stated that his financial regulatory proposals were struggling in the Senate because "the financial industry and its powerful lobby have opposed modest safeguards against the kinds of reckless risks and bad practices that led to this very crisis."
He should know. As a senator, he was the third largest recipient of campaign contributions from Fannie Mae and Freddie Mac, behind only Sens. Chris Dodd and John Kerry.
Wallison: Fannie and Freddie Amnesia - WSJ


2. "Barney Frank (D-MA) Blocked Multiple Attempts At Reforming Fannie Mae And Freddie Mac Spanning Back To 1992…Sen. Chris Dodd (D-CT) Sen. Chuck Schumer (D-NY) Has Been A "Leading Voice For [Financial] Deregulation," Led Efforts To Block Reform Of Fannie Mae And Freddie Mac, And Was Instrumental In The Collapse Of Bank IndyMac…Way back in 2001 The Bush Administration raised red flags. In 2008, Bush warned the Democratic majority 17 times that there was a looming crisis…
Truth On Target: Obama's Financial Friends: Schumer, Dodd and Barney Frank



And so.....with apologies to Edmund Rostand.....'as I end my refrain...thrust home my sword!'



I do so appreciate you playing the role of foil to my mastery.

The GOP never brought the bill up for a vote for any Democrat to block, as you have stupidly admitted!!!!! Like a knee jerk hack you blame the Dems, but the GOP didn't even have support among themselves which is why they never brought the bill to the floor for a vote, so it is a complete fabrication to claim the GOP had 55 votes!!!! The GOP had been using a "Majority of the majority" rule for bringing a bill to the floor for a vote and if they had 55 GOP votes they would have brought it up for a vote, but there was not a majority of Senate Republicans supporting ANY reform bill to bring it up for a vote. Thus NO bill ever made it to the Senate floor for a vote! All but one never made it out of committee even though the GOP held a two seat majority in the committee. There is no 60 vote rule in committee!!!!





"....Led Efforts To Block Reform Of Fannie Mae And Freddie Mac…"

Who did?

Democrats.


The fabrication begins when you claim a cerebral cortex.


For those capable of erudition:


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 proposal is the opening act in one of the biggest and most significant lobbying battles of the Congressional session.


Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
''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.''
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
New Agency Proposed to Oversee Freddie Mac and Fannie Mae - NYTimes.com



What have we learned?

That the Democrats are the provenance of the problem.....and the bar to the solution.


And, that you remain a dope swearing allegiance to the corrupters.




Once again.....no Liberal/Democrat/ Progressive should ever.......ever......be allowed a seat of power in this nation.

Bush talked about reform. He talked and he talked. And then he stopped reform. (read that as many times as necessary. Bush stopped reform). And then he stopped it again. A million quotes cant change that.


One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

We have also relaxed some of our underwriting criteria to obtain goals-qualifying mortgage loans and increased our investments in higher-risk mortgage loan products that are more likely to serve the borrowers targeted by HUD’s goals and subgoals,
http://www.fanniemae.com/resources/file/ir/pdf/quarterly-annual-results/2004/2004_form10K.pdf

HOLY COW! Bush forced them to lower their standards. If only somebody had warned us that Bush's policies would hurt Freddie and Fannie. Wait, somebody did.



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
 
Until you came along I always wondered how the dinosaurs survived for millions of years with walnut sized brains.



Let's go back to my needing better opponents.


A question even simple enough for one of your ability:


If it were not for Democrat policy, beginning with Franklin Roosevelt, deciding that government had the authority to dabble in the private housing markets.....

... would there have been any mortgage meltdown?

The last Repub President's acceptance speech:

George Bush, Nomination Acceptance Address, 2004 Republican National Convention—September 2, 2004
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.

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."

In an ownership society, more people will own their health plans and have the confidence of owning a piece of their retirement.

remember that Repub rhetoric? :eusa_whistle:




If it were not for Democrat policy, beginning with Franklin Roosevelt, deciding that government had the authority to dabble in the private housing markets.....

... would there have been any mortgage meltdown?


You seem afraid to answer this question.

Shall I answer for you?


The answer is 'no.'




Democrat policy was the provenance.

Democrat obstruction barred any solution.

Democrat dishonesty hides the truth.


So....you're a Democrat, huh?



Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them.




Q Why would Bush’s regulators let banks lower their lending standards?

A. Federal regulators at the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision work for Bush and he was pushing his “Ownership Society” programs that was a major and successful part of his re election campaign in 2004. And Bush’s regulators not only let banks do this, they attacked state regulators trying to do their jobs. 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
Lowering Invesntment bank’s capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING


But the biggest policy was regulators not enforcing lending standards.


MUCH MORE ON DUBYA'S SUBPRIME REGULATOR FAILURE HERE

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html
 
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Let's pretend that you have any thinking behind your government-worship......in such case, with which of these ideas, pray tell, do you have a problem?


..... individualism, free markets, and limited constitutional government.



I'll understand if you can't come up with an answer.....but, remember, my view is that you will not be able to.

free/unregulated markets is what brought us :up: 2008. Thats what happens when Repubs *cough* "man" the SEC :eusa_clap: They hand "the keys to the store" to those they're supposed to be regulating :eusa_doh:
Care to try again? :eusa_think:




Pleeeeezzzzzzzzze....I demand better opponents!

How can I claim the title of champion with fleas and mental midgets as my opposites!
This is downright unfair!


First, there were no free/unregulated markets.


And, most significantly.....Democrat refusal to be held to the restrictions of the Constitution is the cause of the meltdown.....

Take notes:

1. Democrat FDR shredded the Constitution....ignoring article I, section 8, the enumerated powers.
He created GSE's Fannie and Freddie to do something the Constitution didn't authorize: meddle in housing.

2. Democrat Carter....the CRA, constraining banking policy

3. Democrat Clinton....strengthened the CRA
Under Clinton, HUD threatened banks, again, to give unrequited loans.
Henchmen: Democrats Cisneros and Cuomo.

4. Democrats Frank and Dodd barred any governmental discipline in this area.


That's the CliffNotes version.
I don't believe you can handle the details.....but I can provide same.

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


Lower lending standards started in late 2004 which caused the Bush Mortgage Bubble. Putting in people in homes they couldn't afford


"(In 2000, CLINTON ) HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay."

How HUD Mortgage Policy Fed The Crisis

"In 2004 (BUSH), the 2000 rules were dropped and high‐risk loans were again counted toward affordable housing goals."



http://www.prmia.org/sites/default/files/references/Fannie_Mae_and_Freddie_Mac_090911_v2.pdf
 
Pleeeeezzzzzzzzze....I demand better opponents!

How can I claim the title of champion with fleas and mental midgets as my opposites!
This is downright unfair!


Democrats Frank and Dodd barred any governmental discipline in this area.


That's the CliffNotes version.
I don't believe you can handle the details.....but I can provide same.
Talk about a mental midget!!!

Frank and Dodd were POWERLESS members of a MINORITY Party at the time!!!




And,....again....I must demand better opponents!!!!!!


You should realize how badly you are about to get burned when the old timer thanks you for a post.......

Now....observe as I eviscerate you....and the other mental midget.



1. "It was in 2005 that the GSEs—which had been acquiring increasing numbers of subprime and Alt-A loans for many years in order to meet their HUD-imposed affordable housing requirements—accelerated the purchases that led to their 2008 insolvency. If legislation along the lines of the Senate committee's bill had been enacted in that year, many if not all the losses that Fannie and Freddie have suffered, and will suffer in the future, might have been avoided.

Why was there no action in the full Senate? As most Americans know today, it takes 60 votes to cut off debate in the Senate, and the Republicans had only 55. To close debate and proceed to the enactment of the committee-passed bill, the Republicans needed five Democrats to vote with them. But in a 45 member Democratic caucus that included Barack Obama and the current Senate Banking Chairman Christopher Dodd (D., Conn.), these votes could not be found.

... Obama has taken to accusing others of representing "special interests." In an April radio address he stated that his financial regulatory proposals were struggling in the Senate because "the financial industry and its powerful lobby have opposed modest safeguards against the kinds of reckless risks and bad practices that led to this very crisis."
He should know. As a senator, he was the third largest recipient of campaign contributions from Fannie Mae and Freddie Mac, behind only Sens. Chris Dodd and John Kerry.
Wallison: Fannie and Freddie Amnesia - WSJ


2. "Barney Frank (D-MA) Blocked Multiple Attempts At Reforming Fannie Mae And Freddie Mac Spanning Back To 1992…Sen. Chris Dodd (D-CT) Led Efforts To Block Reform Of Fannie Mae And Freddie Mac…Sen. Chuck Schumer (D-NY) Has Been A "Leading Voice For [Financial] Deregulation," Led Efforts To Block Reform Of Fannie Mae And Freddie Mac, And Was Instrumental In The Collapse Of Bank IndyMac…Way back in 2001 The Bush Administration raised red flags. In 2008, Bush warned the Democratic majority 17 times that there was a looming crisis…
Truth On Target: Obama's Financial Friends: Schumer, Dodd and Barney Frank



And so.....with apologies to Edmund Rostand.....'as I end my refrain...thrust home my sword!'



I do so appreciate you playing the role of foil to my mastery.

Wallison: Fannie and Freddie Amnesia - WSJ

Wallison: Fannie and Freddie Amnesia - WSJ



THIS GUY:

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


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.”


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


1. Private markets caused the shady mortgage boom

Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture



Private sector loans, not Fannie or Freddie, triggered crisis


The "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," the President's Working Group on Financial Markets

Private sector loans, not Fannie or Freddie, triggered crisis | Economics | McClatchy DC
 
free/unregulated markets is what brought us :up: 2008. Thats what happens when Repubs *cough* "man" the SEC :eusa_clap: They hand "the keys to the store" to those they're supposed to be regulating :eusa_doh:
Care to try again? :eusa_think:




Pleeeeezzzzzzzzze....I demand better opponents!

How can I claim the title of champion with fleas and mental midgets as my opposites!
This is downright unfair!


First, there were no free/unregulated markets.


And, most significantly.....Democrat refusal to be held to the restrictions of the Constitution is the cause of the meltdown.....

Take notes:

1. Democrat FDR shredded the Constitution....ignoring article I, section 8, the enumerated powers.
He created GSE's Fannie and Freddie to do something the Constitution didn't authorize: meddle in housing.

2. Democrat Carter....the CRA, constraining banking policy

3. Democrat Clinton....strengthened the CRA
Under Clinton, HUD threatened banks, again, to give unrequited loans.
Henchmen: Democrats Cisneros and Cuomo.

4. Democrats Frank and Dodd barred any governmental discipline in this area.


That's the CliffNotes version.
I don't believe you can handle the details.....but I can provide same.

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


Lower lending standards started in late 2004 which caused the Bush Mortgage Bubble. Putting in people in homes they couldn't afford


"(In 2000, CLINTON ) HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay."

How HUD Mortgage Policy Fed The Crisis

"In 2004 (BUSH), the 2000 rules were dropped and high‐risk loans were again counted toward affordable housing goals."



http://www.prmia.org/sites/default/files/references/Fannie_Mae_and_Freddie_Mac_090911_v2.pdf

Oops!!! :redface: [MENTION=12394]PoliticalChic[/MENTION] :D :boohoo:
 
Pleeeeezzzzzzzzze....I demand better opponents!

How can I claim the title of champion with fleas and mental midgets as my opposites!
This is downright unfair!


First, there were no free/unregulated markets.


And, most significantly.....Democrat refusal to be held to the restrictions of the Constitution is the cause of the meltdown.....

Take notes:

1. Democrat FDR shredded the Constitution....ignoring article I, section 8, the enumerated powers.
He created GSE's Fannie and Freddie to do something the Constitution didn't authorize: meddle in housing.

2. Democrat Carter....the CRA, constraining banking policy

3. Democrat Clinton....strengthened the CRA
Under Clinton, HUD threatened banks, again, to give unrequited loans.
Henchmen: Democrats Cisneros and Cuomo.

4. Democrats Frank and Dodd barred any governmental discipline in this area.


That's the CliffNotes version.
I don't believe you can handle the details.....but I can provide same.

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


Lower lending standards started in late 2004 which caused the Bush Mortgage Bubble. Putting in people in homes they couldn't afford


"(In 2000, CLINTON ) HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay."

How HUD Mortgage Policy Fed The Crisis

"In 2004 (BUSH), the 2000 rules were dropped and high‐risk loans were again counted toward affordable housing goals."



http://www.prmia.org/sites/default/files/references/Fannie_Mae_and_Freddie_Mac_090911_v2.pdf

Oops!!! :redface: [MENTION=12394]PoliticalChic[/MENTION] :D :boohoo:

The Right forgets that Franklin Reins retired in 2004 and from then on Bush had his personally appointed lackey as head!
 

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