Do you know left wingers still blame the 2008 housing bubble on just Booooosh?

FFS- I never said it did. What I said the fraudulent accounting at fannie did was misrepresent fannies position.

WELL IT NO IT FUCKING DIDN'T YOU IDIOT.

THERE WAS EXACTLY ONE AND ONLY ONE THING ONLY THAT AFFECTED GSE'S POSITION - DETERIORATION OF THEIR HOLDINGS DUE TO REAL ESTATE COLLAPSE, ESPECIALLY SUBPRIME BACKED SECURITIES THAT WERE ORIGINALLY RATED AS AAA.

How many times does that need to be repeated for it to sink into your little narrow one track mind?

Oh, you're right. False accounting records don't misrepresent an entities position. Gawd, you really are that fucking stupid, aren't you.

Let's look then at what those investigative bodies found, shall we.


"On Sept. 22, 2004, OFHEO released results of its continuing investigation. The "Special Examination of Fannie Mae" was a dense 211 pages packed with technical accounting details. But the message was clear: OFHEO accused Fannie Mae of both willfully breaking accounting rules and fostering an environment of "weak or nonexistent" internal controls. OFHEO focused on exactly the issue that the skeptics had earlier noticed, which was Fannie's use of accounting rules to defer derivative losses onto its balance sheet. Except OFHEO said that Fannie hadn't just bent the rules, it had broken them.

What got the most attention, though, was OFHEO's charge that in 1998, when an internal model said Fannie would need to recognize a roughly $400 million expense, Fannie only recognized $200 million. That, OFHEO charged, allowed the company to report earnings of $3.23 per share, which meant that Fannie paid out a total of about $27 million in bonuses. Both the SEC and Justice quickly announced their own investigations."

In other words they misrepresented their financials, so the management could reap bonuses. The SEC also found the same. Of course I already provided that information, but it raced in one of your ears and out the other, as there was nothing there to stop it.

I'll now point out the fact that this is exactly the information in the post of mine you grabbed to start this conversation, in other words it's exactly what I've been saying all along and while I have offered one fact after the next to back up what I've said, all, literally ALL , you have done is sputter.

You may now go fuck yourself, moron.
 
F+F lost 50-70% of the market when Booosh pals Countrywide etc started selling crap in 2002. The F+F BS is pure crap propaganda.


Take it up with Clinton then.

Or Greenspan, who said this in '05

"”We at the Federal Reserve remain concerned about the growth and magnitude of the mortgage portfolios of the government-sponsored enterprises, which concentrate interest rate risk and prepayment risk at these two institutions and makes our financial system dependent on their ability to manage these risks” … “To fend off possible future systemic difficulties, which we assess as likely if G.S.E. expansion continues unabated, preventive actions are required sooner rather than later.”



People saw this shit coming. They were ignored.
Still going on about Clinton and F+F that had near nothing to do with it, dupe? Change the channel...


Did you see clinton in that second Post?
Tell your doctor the meds aren't working.

I could post numerous quotes going back to as early as 2002 of people of all stripes warning that this was coming, but dupity dupes like you choose to ignore that mountain of easily documentable evidence because blubbering bbbbbbbBush! is easier than actually bothering to look..

And of course it fits the hyper partisan agenda to continue to spew the nonsense that one guy is to blame. and it''s the other guy. always is isn't it, eh?
Your quote is bs about F+F, not the driver behind the meltdown. Yup, it always is the GOP with REAL corrupt scandals that actually hurt tens of millions, dupe. See 1929, S+L,and 2008.

Post some of those quotes then, dupe, and not the usual GOP tripe about F+F they've been going on and on about for decades.

I already posted a quote from Clinton. Is that gop tripe?

How about this one then


"Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong.”Congressman Artur Davis (D-AL) , September 30, 2008"
Poor Dem from Alabama. Went GOP, now back a Dem 2015 lol...

None of these out of context quotes changes the fact that F+F had 75% of the market before Boooshies and Countrywide etc, 25% after. They weren't the problem, became a problem late in the game under pressure from the GOP....
 
But, but, but repealing Glass-Steagall REDUCED regulation and the Right blames its repeal for the Bush Housing Crash!!!!!
How can it be that reduced regulation caused a bubble???

But, but, but repealing Glass-Steagall REDUCED regulation and the Right blames its repeal for the Bush Housing Crash!!!!!

Elizabeth Warren blames its repeal, is she on the right?
So does Bernie. He a righty?

Do you blame the repeal?
But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy, now does she!!!!!!!! geeezzzz you fools are dense!!!

But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy

She makes the moronic claim that increased regulation is good for the economy.
How many more regulations does Obama need to add to improve his weak economic growth?
Well, Bush's housing crash proves her right!

Which regulation would have prevented the housing crash? Be specific.
Booooshie crony regulators enforcing regulations would have done it...totally corrupt just like the ones enforcing Big Oil regs (Remember THAT scandal?). It's the GOP way. All now WORKING for Big Oil, Wall St, lobbyists.
 
But, but, but repealing Glass-Steagall REDUCED regulation and the Right blames its repeal for the Bush Housing Crash!!!!!

Elizabeth Warren blames its repeal, is she on the right?
So does Bernie. He a righty?

Do you blame the repeal?
But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy, now does she!!!!!!!! geeezzzz you fools are dense!!!

But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy

She makes the moronic claim that increased regulation is good for the economy.
How many more regulations does Obama need to add to improve his weak economic growth?
Well, Bush's housing crash proves her right!

Which regulation would have prevented the housing crash? Be specific.
Booooshie crony regulators enforcing regulations would have done it...totally corrupt just like the ones enforcing Big Oil regs (Remember THAT scandal?). It's the GOP way. All now WORKING for Big Oil, Wall St, lobbyists.

Booooshie crony regulators enforcing regulations would have done it


Which regulation, if enforced, would have done it?

just like the ones enforcing Big Oil regs (Remember THAT scandal?).

Remind me.
 
I blame it on deregulation of the market that allowed a massive fucking bubble to form. Yes, Bush is Largely to blame but so is the entire worthless republican party and their dreams of deregulating everything.

I blame it on deregulation of the market that allowed a massive fucking bubble to form.

Which regulation should they have kept to prevent the bubble? Be specific.
 
But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy, now does she!!!!!!!! geeezzzz you fools are dense!!!

But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy

She makes the moronic claim that increased regulation is good for the economy.
How many more regulations does Obama need to add to improve his weak economic growth?
Well, Bush's housing crash proves her right!

Which regulation would have prevented the housing crash? Be specific.
Booooshie crony regulators enforcing regulations would have done it...totally corrupt just like the ones enforcing Big Oil regs (Remember THAT scandal?). It's the GOP way. All now WORKING for Big Oil, Wall St, lobbyists.

Booooshie crony regulators enforcing regulations would have done it


Which regulation, if enforced, would have done it?

just like the ones enforcing Big Oil regs (Remember THAT scandal?).

Remind me.
Google it fcs lol...
 
But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy

She makes the moronic claim that increased regulation is good for the economy.
How many more regulations does Obama need to add to improve his weak economic growth?
Well, Bush's housing crash proves her right!

Which regulation would have prevented the housing crash? Be specific.
Booooshie crony regulators enforcing regulations would have done it...totally corrupt just like the ones enforcing Big Oil regs (Remember THAT scandal?). It's the GOP way. All now WORKING for Big Oil, Wall St, lobbyists.

Booooshie crony regulators enforcing regulations would have done it


Which regulation, if enforced, would have done it?

just like the ones enforcing Big Oil regs (Remember THAT scandal?).

Remind me.
Google it fcs lol...

Why would I goggle your stupid claims?
 
Of course we know that. Aren't they pathetic?

Lets play a keep-em-honest experiment:

Mentally switch the name of the person who was in White House 2001-2009 from Bush to Obama.

Ready? Ok who's fault was 2008 Great Recession...GO!
Barney Frank & his ilk
Republicans controlled the presidency, the House, the Senate and the Supreme Court, but they were powerless against one old, fat gay Jew with a speech impediment.

Which is why they can't be trusted. They take responsibility for nothing. They expect us to believe the most ridiculous of the ridiculous.
 
Bush Cronyism - foxes guarding the henhous
www.oldamericancentury.org/bushco/cronyism.htm
Vice-president Dick Cheney, who chairs the White House Energy Policy .... A former oil and coallobbyist, J. Steven Griles violated recusal agreements in order to ... Bush administration official convicted in the Jack Abramoff lobbying scandal.
There Will Be Blood | Mother Jones
www.motherjones.com/politics/2010/05/bp-bill-nelson-oil-spill
Mother Jones
May 5, 2010 - With the Deepwater Horizon oil spill shaping up to be a calamity of historic ... referring to the 2008 scandal in a Colorado regional MMS office in which it ... by enhanced safety measures, stretch back to the George W. Bush years. During that era, Interior became a revolving door haven for industry lobbyists.
 
But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy, now does she!!!!!!!! geeezzzz you fools are dense!!!

But, but, but she doesn't make the moronic claim that reduced regulation is good for the economy

She makes the moronic claim that increased regulation is good for the economy.
How many more regulations does Obama need to add to improve his weak economic growth?
Well, Bush's housing crash proves her right!

Which regulation would have prevented the housing crash? Be specific.
Booooshie crony regulators enforcing regulations would have done it...totally corrupt just like the ones enforcing Big Oil regs (Remember THAT scandal?). It's the GOP way. All now WORKING for Big Oil, Wall St, lobbyists.

Booooshie crony regulators enforcing regulations would have done it


Which regulation, if enforced, would have done it?

just like the ones enforcing Big Oil regs (Remember THAT scandal?).

Remind me.
Bush Cronyism - foxes guarding the henhous
www.oldamericancentury.org/bushco/cronyism.htm
Vice-president Dick Cheney, who chairs the White House Energy Policy .... A former oil and coallobbyist, J. Steven Griles violated recusal agreements in order to ... Bush administration official convicted in the Jack Abramoff lobbying scandal.
There Will Be Blood | Mother Jones
www.motherjones.com/politics/2010/05/bp-bill-nelson-oil-spill
Mother Jones
May 5, 2010 - With the Deepwater Horizon oil spill shaping up to be a calamity of historic ... referring to the 2008 scandal in a Colorado regional MMS office in which it ... by enhanced safety measures, stretch back to the George W. Bush years. During that era, Interior became a revolving door haven for industry lobbyists.


Regulating AIG: Who Fell Asleep On The Job? : NPR
www.npr.org/templates/story/story.php?storyId=104979546
NPR
Jun 5, 2009 - Like other regulators, the OTS courts its eventual clients, who pay the ... The standard line on what went wrong at AIG, the insurance giant ...
 
Of course we know that. Aren't they pathetic?

Lets play a keep-em-honest experiment:

Mentally switch the name of the person who was in White House 2001-2009 from Bush to Obama.

Ready? Ok who's fault was 2008 Great Recession...GO!
Barney Frank & his ilk
Republicans controlled the presidency, the House, the Senate and the Supreme Court, but they were powerless against one old, fat gay Jew with a speech impediment.

Which is why they can't be trusted. They take responsibility for nothing. They expect us to believe the most ridiculous of the ridiculous.
The irony with this post is THICK lol
 
Of course we know that. Aren't they pathetic?

Lets play a keep-em-honest experiment:

Mentally switch the name of the person who was in White House 2001-2009 from Bush to Obama.

Ready? Ok who's fault was 2008 Great Recession...GO!
Barney Frank & his ilk
Republicans controlled the presidency, the House, the Senate and the Supreme Court, but they were powerless against one old, fat gay Jew with a speech impediment.

Which is why they can't be trusted. They take responsibility for nothing. They expect us to believe the most ridiculous of the ridiculous.
The irony with this post is THICK lol
Because Barney getting power in 2007 means he's to blame? That's what the GOP line is, and you chumps believe it...
 
FFS- I never said it did. What I said the fraudulent accounting at fannie did was misrepresent fannies position.

WELL IT NO IT FUCKING DIDN'T YOU IDIOT.

THERE WAS EXACTLY ONE AND ONLY ONE THING ONLY THAT AFFECTED GSE'S POSITION - DETERIORATION OF THEIR HOLDINGS DUE TO REAL ESTATE COLLAPSE, ESPECIALLY SUBPRIME BACKED SECURITIES THAT WERE ORIGINALLY RATED AS AAA.

How many times does that need to be repeated for it to sink into your little narrow one track mind?

Oh, you're right. False accounting records don't misrepresent an entities position. Gawd, you really are that fucking stupid, aren't you.

Let's look then at what those investigative bodies found, shall we.


"On Sept. 22, 2004, OFHEO released results of its continuing investigation. The "Special Examination of Fannie Mae" was a dense 211 pages packed with technical accounting details. But the message was clear: OFHEO accused Fannie Mae of both willfully breaking accounting rules and fostering an environment of "weak or nonexistent" internal controls. OFHEO focused on exactly the issue that the skeptics had earlier noticed, which was Fannie's use of accounting rules to defer derivative losses onto its balance sheet. Except OFHEO said that Fannie hadn't just bent the rules, it had broken them.

What got the most attention, though, was OFHEO's charge that in 1998, when an internal model said Fannie would need to recognize a roughly $400 million expense, Fannie only recognized $200 million. That, OFHEO charged, allowed the company to report earnings of $3.23 per share, which meant that Fannie paid out a total of about $27 million in bonuses. Both the SEC and Justice quickly announced their own investigations."

In other words they misrepresented their financials, so the management could reap bonuses. The SEC also found the same. Of course I already provided that information, but it raced in one of your ears and out the other, as there was nothing there to stop it.

I'll now point out the fact that this is exactly the information in the post of mine you grabbed to start this conversation, in other words it's exactly what I've been saying all along and while I have offered one fact after the next to back up what I've said, all, literally ALL , you have done is sputter.

You may now go fuck yourself, moron.

Fucking dumbass, the real estate pricing collapse was in 2007 and the position of GSEs was AWESOME, until it happened, because what preceded the bust, was the boom.

Accounting issues that were settled in 2004 have NOTHING to do with the market problems in 2007.

You keep posting about the 2004, but can you link to ANYTHING that even mentions it having something to do with Great Recession?

If GSE have perfect accounting guess what happens next time real estate prices collapse? They will need to be bailed because they always were and always will be highly leveraged.
 

New Topics

Forum List

Back
Top