Elizabeth Warren on Subprime and Foreclosures Problem Still Growing

[hvactec]

[ame=http://www.youtube.com/watch?v=VC8HrUZNOLs&feature=player_embedded]YouTube - Prof. Elizabeth Warren on Subprime and Foreclosures Problem 2 of 3[/ame]

 

[Terral]

Hi Hvac:

YouTube - Prof. Elizabeth Warren on Subprime and Foreclosures Problem 2 of 3

Most of what you see in the OP Video is 'disinformation' that gives lip service to the 'symptoms' and not the actual cause of the Foreclosure Crisis. The primary causes of the U.S. Economic Meltdown are 'Worker Displacement' by legal and illegal alien foreign nationals. One illegal alien displaces just one U.S. worker, who then goes out and displaces another U.S. Citizen from his job; so that he must go out and displace another U.S. Citizen from his job in an endless 'displacement cycle.' You will never have any solution to the Foreclosure Crisis, until the Federal, State and Local Govt's begin enforcing Immigration and Employment Laws already on the books; and that will NEVER happen ...

NAFTA concessions to other countries has seen the U.S. Manufacturing Base shipped overseas and south of the border. Outsourcing of JOBS is also working to destroy the Consumer Base, which sees service sector jobs destroyed from the local job markets. The Foreclosure Crisis is only the symptom of a sick U.S. Consumer that is now on life support in the form of every Stimulus Plan known to mankind, which only works to provide a slower ultimate death. If Obama wanted to save one job, then he would be deporting illegal aliens; but his ultimate goal is to destroy the U.S. Consumer/Tax Base on his way to destroying our Western Way of life. Americans deserve utter destruction for being so STUPID (#1-10) ...

Stop blaming the Subprime Mortgages on the problem, as if the banksters have any control over the flood of illegal aliens stealing JOBS from their mortgagees. The real problem is right in front of your faces in a corrupt Congress and Obama Administration doing NOTHING to protect our JOBS from illegal aliens, outsourcing, manufacture offshoring, etc., etc..

GL,

Terral

 

[waltky]

Granny says, "Dat's right - Obama tryin' to snooker us into another subprime crisis...

Obama administration pushes banks to make home loans to people with weaker credit
April 2`13 - The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession. In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default. Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.

Officials are also encouraging lenders to use more subjective judgment in determining whether to offer a loan and are seeking to make it easier for people who owe more than their properties are worth to refinance at today’s low interest rates, among other steps. Obama pledged in his State of the Union address to do more to make sure more Americans can enjoy the benefits of the housing recovery, but critics say encouraging banks to lend as broadly as the administration hopes will sow the seeds of another housing disaster and endanger taxpayer dollars. “If that were to come to pass, that would open the floodgates to highly excessive risk and would send us right back on the same path we were just trying to recover from,” said Ed Pinto, a resident fellow at the American Enterprise Institute and former top executive at mortgage giant Fannie Mae.

Administration officials say they are looking only to allay unnecessary hesi(*)ta(*)tion among banks and encourage safe lending to borrowers who have the financial wherewithal to pay. “There’s always a tension that you have to take seriously between providing clarity and rules of the road and not giving any opportunity to restart the kind of irresponsible lending that we saw in the mid-2000s,” said a senior administration official who was not authorized to speak on the record.

The administration’s efforts come in the midst of a housing market that has been surging for the past year but that has been delivering most of the benefits to established homeowners with high credit scores or to investors who have been behind a significant number of new purchases. “If you were going to tell people in low-income and moderate-income communities and communities of color there was a housing recovery, they would look at you as if you had two heads,” said John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”

MORE

 

[Mr. H.]

New crisis looming, thanks to the Fed...

Special Report: How the Fed Fueled an Explosion in Subprime Auto Loans - Yahoo! Finance

In its efforts to jumpstart the economy, the U.S. central bank has undertaken since November 2008 three rounds of bond-buying and cut short-term interest rates effectively to zero. The purchases of mostly Treasury and mortgage securities - known as quantitative easing and nicknamed QE1, QE2 and QE3 - have injected trillions of dollars into the financial system.

 

[editec]

Hi Hvac:

YouTube - Prof. Elizabeth Warren on Subprime and Foreclosures Problem 2 of 3

Most of what you see in the OP Video is 'disinformation' that gives lip service to the 'symptoms' and not the actual cause of the Foreclosure Crisis. The primary causes of the U.S. Economic Meltdown are 'Worker Displacement' by legal and illegal alien foreign nationals. One illegal alien displaces just one U.S. worker, who then goes out and displaces another U.S. Citizen from his job; so that he must go out and displace another U.S. Citizen from his job in an endless 'displacement cycle.' You will never have any solution to the Foreclosure Crisis, until the Federal, State and Local Govt's begin enforcing Immigration and Employment Laws already on the books; and that will NEVER happen ...

NAFTA concessions to other countries has seen the U.S. Manufacturing Base shipped overseas and south of the border. Outsourcing of JOBS is also working to destroy the Consumer Base, which sees service sector jobs destroyed from the local job markets. The Foreclosure Crisis is only the symptom of a sick U.S. Consumer that is now on life support in the form of every Stimulus Plan known to mankind, which only works to provide a slower ultimate death. If Obama wanted to save one job, then he would be deporting illegal aliens; but his ultimate goal is to destroy the U.S. Consumer/Tax Base on his way to destroying our Western Way of life. Americans deserve utter destruction for being so STUPID (#1-10) ...

Stop blaming the Subprime Mortgages on the problem, as if the banksters have any control over the flood of illegal aliens stealing JOBS from their mortgagees. The real problem is right in front of your faces in a corrupt Congress and Obama Administration doing NOTHING to protect our JOBS from illegal aliens, outsourcing, manufacture offshoring, etc., etc..

GL,

Terral

While I certainly agree that FREE TRADE (which isn't free) plays a role in the meltdown, the subprime mortgage problem was straw that broke the economy's back.

I think what you are describing are really two examples of the same CLASS WAR, my friend.

 

[Rozman]

We are just going to start this crap all over again.
Because according to the left everyone should own a home
whether they can pay for it or not.

 

[EdwardBaiamonte]

While I certainly agree that FREE TRADE (which isn't free) plays a role in the meltdown, the subprime mortgage problem was straw that broke the economy's back.

I think what you are describing are really two examples of the same CLASS WAR, my friend.

You complete idiot Marxist scumbag!!!! We have illegals here taking our jobs because the illegal community votes Democrat!! We have low interest rates because a college professor thinks that monetary policy is best.

It has nothing to do with the Marxist civil war you'd like to start in our country!!

 

[Toro]

Hi Hvac:

YouTube - Prof. Elizabeth Warren on Subprime and Foreclosures Problem 2 of 3

Most of what you see in the OP Video is 'disinformation' that gives lip service to the 'symptoms' and not the actual cause of the Foreclosure Crisis. The primary causes of the U.S. Economic Meltdown are 'Worker Displacement' by legal and illegal alien foreign nationals. One illegal alien displaces just one U.S. worker, who then goes out and displaces another U.S. Citizen from his job; so that he must go out and displace another U.S. Citizen from his job in an endless 'displacement cycle.' You will never have any solution to the Foreclosure Crisis, until the Federal, State and Local Govt's begin enforcing Immigration and Employment Laws already on the books; and that will NEVER happen ...

NAFTA concessions to other countries has seen the U.S. Manufacturing Base shipped overseas and south of the border. Outsourcing of JOBS is also working to destroy the Consumer Base, which sees service sector jobs destroyed from the local job markets. The Foreclosure Crisis is only the symptom of a sick U.S. Consumer that is now on life support in the form of every Stimulus Plan known to mankind, which only works to provide a slower ultimate death. If Obama wanted to save one job, then he would be deporting illegal aliens; but his ultimate goal is to destroy the U.S. Consumer/Tax Base on his way to destroying our Western Way of life. Americans deserve utter destruction for being so STUPID (#1-10) ...

Stop blaming the Subprime Mortgages on the problem, as if the banksters have any control over the flood of illegal aliens stealing JOBS from their mortgagees. The real problem is right in front of your faces in a corrupt Congress and Obama Administration doing NOTHING to protect our JOBS from illegal aliens, outsourcing, manufacture offshoring, etc., etc..

GL,

Terral

While I certainly agree that FREE TRADE (which isn't free) plays a role in the meltdown, the subprime mortgage problem was straw that broke the economy's back.

I think what you are describing are really two examples of the same CLASS WAR, my friend.

The best way to discredit any theory is to have Terral comment positively on it.

 

[Trajan]

we can add this to the sub prime car loan bubble, the student loan bubble.....etc...*shrugs*

past is prologue....

 

[tjvh]

Idiocy is making the same mistake twice and expecting a different result...

 

[EdwardBaiamonte]

we can add this to the sub prime car loan bubble, the student loan bubble.....etc...*shrugs*

past is prologue....

dear do you realize liberals like to create bubbles while conservatives and libertarians like to let the market rule!!

Soviet liberals lack the IQ to understand how freedom works so always try to manipulate the market as if they are smarter than the market.

 

[Freemason9]

ALL consumer debt, collectively, represents the "next bubble." As American labor is brutalized by corporate governance, fiscal "austerity," and lack of regulation in energy/communication/health care markets, consumer debt is rapidly becoming unsustainable in the context of supporting a growing capitalist economy. Yes, kids, the storm is still coming.

Japan has finally had enough. They have abandoned 20 years of "fiscal austerity" that has helped nothing, and are now putting in place a $1 trillion + stimulus package--in relative terms, much larger than anything the U.S. has tried. We can watch and see how that works for them.

 

[EdwardBaiamonte]

ALL consumer debt, collectively, represents the "next bubble." As American labor is brutalized by corporate governance, fiscal "austerity," and lack of regulation in energy/communication/health care markets, consumer debt is rapidly becoming unsustainable in the context of supporting a growing capitalist economy. Yes, kids, the storm is still coming.

Japan has finally had enough. They have abandoned 20 years of "fiscal austerity" that has helped nothing, and are now putting in place a $1 trillion + stimulus package--in relative terms, much larger than anything the U.S. has tried. We can watch and see how that works for them.

too stupid!! economic growth comes from new inventions, not libturds printing money!! A little Econ 101 for you. Do you really think we got from the stone age to here because libturds printed money??
A liberal is like a child believing in Santa Claus. Sorry dear there are no free lunches and there is no Santa Claus.

 

[Trajan]

ALL consumer debt, collectively, represents the "next bubble." As American labor is brutalized by corporate governance, fiscal "austerity," and lack of regulation in energy/communication/health care markets, consumer debt is rapidly becoming unsustainable in the context of supporting a growing capitalist economy. Yes, kids, the storm is still coming.

Japan has finally had enough. They have abandoned 20 years of "fiscal austerity" that has helped nothing, and are now putting in place a $1 trillion + stimulus package--in relative terms, much larger than anything the U.S. has tried. We can watch and see how that works for them.

do you know how many stimulus packages the Japanese government has enacted ?


the lost decade saw several, then more there after....and they are still trying.....there is nothing to watch, they have been there, done that. They want inflation? Fine but they should be careful what they wish for....

 

[oldfart]

Soviet liberals lack the IQ to understand how freedom works so always try to manipulate the market as if they are smarter than the market.

Ah, Ed: You do realize that in Russia (the Soviet Union has been gone for two decades) the term "liberal" describes those who advocate free market mechanisms?

 

[waltky]

Toro wrote: Nem kell persze ahol sasok.

Dat's what Uncle Ferd says when he's drunk...

... an' wants another pretzel.

Edward wrote: Soviet liberals lack the IQ to understand how freedom works so always try to manipulate the market as if they are smarter than the market.

And gamblers always think they can beat the house.

Edward further wrote: Sorry dear there are no free lunches and there is no Santa Claus.

possum just fainted right over.

 

[EdwardBaiamonte]

Idiocy is making the same mistake twice and expecting a different result...

liberals have tried to beat the market 1000 times and always failed. The USA has the most free markets and the most wealth!! It's as simple as that!!

 

[Oddball]

Japan has finally had enough. They have abandoned 20 years of "fiscal austerity" that has helped nothing, and are now putting in place a $1 trillion + stimulus package--in relative terms, much larger than anything the U.S. has tried. We can watch and see how that works for them.

That is the stupidest, most detached-from-reality post I've read by anyone not named rderp or truthdontmatter.

Thanks for the LULZ!