Foreclosures rise. It's all over

[ConservaDerrps]

Of course Conservatives are defending Wall Street and the subprime fuck ups. It all makes sense now.

And FYI, making fun of kids who ride the "short bus" is the first sign that you're an unevolved prick, and I kind of can't wait until your DNA isn't tainting the gene pool anymore.

 

[RespondsWithGif]

Hmmmm sounds like you were doing pretty good under Obama

End thread. Lock it down. This is the winner folks.

Pretty much.

they hate him because hes black and not a republican.

intelligence has nothing to do wtih their decisions

And here everyone sees you for the troll that you are and what little dignity you have left went out the way of the housing market.

 

[Papageorgio]

and how many KNEW the banks were playing fast and lose with the numbers and would cause a crash with their money grubbing opened up By the Bush SEC?

I knew.

Not many others seemed to listen

I saw this coming back in the 90's, people can't borrow 125% of the value of their property, then go out and charge their credit to the limit and keep on doing it, somewhere, there is a ceiling. I am surprised the collapse didn't come right after 9/11. Not sure how we maintained.

 

[Truthmatters]

By the Bush SEC allowing the lending industry to fake a boom with bad loans and bad securities.

 

[Truthmatters]

End thread. Lock it down. This is the winner folks.

Pretty much.

they hate him because hes black and not a republican.

intelligence has nothing to do wtih their decisions

And here everyone sees you for the troll that you are and what little dignity you have left went out the way of the housing market.

the "your a poopy pants" arguement is not a replacement for facts

 

[RespondsWithGif]

Pretty much.

they hate him because hes black and not a republican.

intelligence has nothing to do wtih their decisions

And here everyone sees you for the troll that you are and what little dignity you have left went out the way of the housing market.

the "your a poopy pants" arguement is not a replacement for facts

Your claims of racism are not facts. But then you libs are never big on facts.

 

[The Rabbi]

I actually had one of those loans. It was a terrific product for the right borrower. Specifically people who made a lot of their money in a short time: commissioned sales, execs with high end of year bonuses, etc. It allowed the borrower to manage his cash flow. The underlying index, typically COFE, was a very stable index so not a lot of movement.

That's exactly right. ARMs were invented for just those kind of people.

When the industry started offering them by the millions to middle class borrowers, that should have been a HUGE red flag. To the SEC, to Congress, to the ratings agencies, to everyone in the industry.

I can't help it if some people were too stupid to understand the loan.

But the bank can. They deliberately pushed these onto people they knew did not understand them. They threw centuries of underwriting laws of the Universe out the window. Their entire model was based on extremely flawed assumptions, so a lot of it was stupidity on the part of the banks as well.

But there were those in the financial world who knew exactly what they were doing, and they created what they knew to be massives risks and transferred those risks to the rubes on the other end of the chain. Pension fund managers, insurance companies, college endowment funds, city treasurers, etc.

And this wasn't just home loans. This was commerical loans and sovereign debt as well.

Wait, what?
A borrower has no responsibility to investigate the product he is buying? Really?
And this is despite the mountain of disclosures that had to be made to the borrower--GFE, Reg Z, etc--at the time of application as well as at closing.

 

[LogikAndReazon]

Surely if you cant "understand" your mortgage you dont deserve to own a home..........

For the simpletons and easily duped im thinking fixed rate, 20% down payments with verifiable employment/income checks and a good credit history should suffice quite nicely..............

You know some pussified blowhard is thinking , thats "racist".............lol

 

[Truthmatters]

What kind of an economy would you have if ONLY people of a certain IQ level were allowed to buy property?


you people are fucking idiots

 

[Truthmatters]

And here everyone sees you for the troll that you are and what little dignity you have left went out the way of the housing market.

the "your a poopy pants" arguement is not a replacement for facts

Your claims of racism are not facts. But then you libs are never big on facts.

Are you claiming that there is NOT ONE racist on the right?

 

[Skull Pilot]

What kind of an economy would you have if ONLY people of a certain IQ level were allowed to buy property?


you people are fucking idiots

One that wouldn't tank due to bad debt.

 

[RespondsWithGif]

the "your a poopy pants" arguement is not a replacement for facts

Your claims of racism are not facts. But then you libs are never big on facts.

Are you claiming that there is NOT ONE racist on the right?

You did not say one. You said "they". As in all encompassing. Quit trying to play the "gotcha" angle.

 

[ConservaDerrps]

Yes. Republicans never get over their heads in debt.

 

[Skull Pilot]

Yes. Republicans never get over their heads in debt.

There are plenty of stupid Repugnantcans just as there are plenty of stupid Dimwitcraps

When are you going to smarten up enough to see that?

 

[Truthmatters]

Your claims of racism are not facts. But then you libs are never big on facts.

Are you claiming that there is NOT ONE racist on the right?

You did not say one. You said "they". As in all encompassing. Quit trying to play the "gotcha" angle.

Then tell me why your party can not get more than single digits of black voters to vote for your party?

 

[Truthmatters]

What kind of an economy would you have if ONLY people of a certain IQ level were allowed to buy property?


you people are fucking idiots

One that wouldn't tank due to bad debt.

how about we JUST make the lenders be honest?

alot easier and MUCH better for the economy.

Not so evil either

 

[The Rabbi]

What kind of an economy would you have if ONLY people of a certain IQ level were allowed to buy property?

One that would exclude you, obviously.

 

[RespondsWithGif]

Are you claiming that there is NOT ONE racist on the right?

You did not say one. You said "they". As in all encompassing. Quit trying to play the "gotcha" angle.

Then tell me why your party can not get more than single digits of black voters to vote for your party?

Doesn't have anything to do with your original statement.

 

[Truthmatters]

Oh yes it does.

Many black voters think the republican party is racist.

why?

 

[Rat in the Hat]

Are you claiming that there is NOT ONE racist on the right?

You did not say one. You said "they". As in all encompassing. Quit trying to play the "gotcha" angle.

Then tell me why your party can not get more than single digits of black voters to vote for your party?

Tell me TM, how does it feel to be wrong??

President Barack Obama is rapidly losing support among African-American voters in North Carolina, a new poll out today from the Democratic-leaning Public Policy Polling shows.

The poll finds that Mitt Romney would get 20 percent of the African-American vote if the election were held today, compared with 76 percent for Obama.

Obama Is Doing Stunningly Bad Among African Americans In North Carolina - Business Insider