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I suggest you read the article and quit whining like a bitch.
Nothing more worthless then a moron that hasn't the vision to entertain the possibilities much less the facts that out there to be investigated. Facts that are everywhere but you can't see them cuz nobody you trust told you to.
American Thinker: Barack Obama and the Strategy of Manufactured Crisis
Nothing more worthless then a moron that hasn't the vision to entertain the possibilities much less the facts that out there to be investigated. Facts that are everywhere but you can't see them cuz nobody you trust told you to.
I suggest you read the article and quit whining like a bitch.
Nothing more worthless then a moron that hasn't the vision to entertain the possibilities much less the facts that out there to be investigated. Facts that are everywhere but you can't see them cuz nobody you trust told you to.
American Thinker: Barack Obama and the Strategy of Manufactured Crisis
I did read the article. The cause of the mortgage crisis is not the CRA. That's utter garbage which continues to get recycled by braindead ideologues. Why the hell should I believe anything else in that article the author writes when he gets something so spectacularly wrong?
There are no bloody facts in the statement that these people want a repeat of the Great Depression. If one believes this shit, one is weakminded and prone to stupid conspiracy theories.
I suggest you read the article and quit whining like a bitch.
Nothing more worthless then a moron that hasn't the vision to entertain the possibilities much less the facts that out there to be investigated. Facts that are everywhere but you can't see them cuz nobody you trust told you to.
American Thinker: Barack Obama and the Strategy of Manufactured Crisis
I did read the article. The cause of the mortgage crisis is not the CRA. That's utter garbage which continues to get recycled by braindead ideologues. Why the hell should I believe anything else in that article the author writes when he gets something so spectacularly wrong?
There are no bloody facts in the statement that these people want a repeat of the Great Depression. If one believes this shit, one is weakminded and prone to stupid conspiracy theories.
It originated with the Community Reinvestment Act (CRA), signed into law in 1977 by President Jimmy Carter. The CRA was Carter's answer to a grassroots activist movement started in Chicago, and forced banks to make loans to low income, high risk customers. PhD economist and former Texas Senator Phil Gramm has called it: "a vast extortion scheme against the nation's banks."
ACORN aggressively sought to expand loans to low income groups using the CRA as a whip. Economist Stan Leibowitz wrote in the New York Post:
In the 1980s, groups such as the activists at ACORN began pushing charges of "redlining"-claims that banks discriminated against minorities in mortgage lending. In 1989, sympathetic members of Congress got the Home Mortgage Disclosure Act amended to force banks to collect racial data on mortgage applicants; this allowed various studies to be ginned up that seemed to validate the original accusation.
ACORN showed its colors again in 1991, by taking over the House Banking Committee room for two days to protest efforts to scale back the CRA. Obama represented ACORN in the Buycks-Roberson v. Citibank Fed. Sav. Bank, 1994 suit against redlining. Most significant of all, ACORN was the driving force behind a 1995 regulatory revision pushed through by the Clinton Administration that greatly expanded the CRA and laid the groundwork for the Fannie Mae, Freddie Mac borne financial crisis we now confront. Barack Obama was the attorney representing ACORN in this effort. With this new authority, ACORN used its subsidiary, ACORN Housing, to promote subprime loans more aggressively.
As a New York Post article describes it:
A 1995 strengthening of the Community Reinvestment Act required banks to find ways to provide mortgages to their poorer communities. It also let community activists intervene at yearly bank reviews, shaking the banks down for large pots of money.
Banks that got poor reviews were punished; some saw their merger plans frustrated; others faced direct legal challenges by the Justice Department.
I suggest you read the article and quit whining like a bitch.
Nothing more worthless then a moron that hasn't the vision to entertain the possibilities much less the facts that out there to be investigated. Facts that are everywhere but you can't see them cuz nobody you trust told you to.
American Thinker: Barack Obama and the Strategy of Manufactured Crisis
I did read the article. The cause of the mortgage crisis is not the CRA. That's utter garbage which continues to get recycled by braindead ideologues. Why the hell should I believe anything else in that article the author writes when he gets something so spectacularly wrong?
There are no bloody facts in the statement that these people want a repeat of the Great Depression. If one believes this shit, one is weakminded and prone to stupid conspiracy theories.
It doesn't say that the CRA was the cause. It just says that it started the ball rolling in the Mortgage Crisis....which if you had read the fucken article you'd know wasn't the only crisis caused by this movement. The CRA was just one aspect of a crisis that took years to unfold. ACORN, Obama's baby, really got it going.
It originated with the Community Reinvestment Act (CRA), signed into law in 1977 by President Jimmy Carter. The CRA was Carter's answer to a grassroots activist movement started in Chicago, and forced banks to make loans to low income, high risk customers. PhD economist and former Texas Senator Phil Gramm has called it: "a vast extortion scheme against the nation's banks."
ACORN aggressively sought to expand loans to low income groups using the CRA as a whip. Economist Stan Leibowitz wrote in the New York Post:
In the 1980s, groups such as the activists at ACORN began pushing charges of "redlining"-claims that banks discriminated against minorities in mortgage lending. In 1989, sympathetic members of Congress got the Home Mortgage Disclosure Act amended to force banks to collect racial data on mortgage applicants; this allowed various studies to be ginned up that seemed to validate the original accusation.
ACORN showed its colors again in 1991, by taking over the House Banking Committee room for two days to protest efforts to scale back the CRA. Obama represented ACORN in the Buycks-Roberson v. Citibank Fed. Sav. Bank, 1994 suit against redlining. Most significant of all, ACORN was the driving force behind a 1995 regulatory revision pushed through by the Clinton Administration that greatly expanded the CRA and laid the groundwork for the Fannie Mae, Freddie Mac borne financial crisis we now confront. Barack Obama was the attorney representing ACORN in this effort. With this new authority, ACORN used its subsidiary, ACORN Housing, to promote subprime loans more aggressively.
As a New York Post article describes it:
A 1995 strengthening of the Community Reinvestment Act required banks to find ways to provide mortgages to their poorer communities. It also let community activists intervene at yearly bank reviews, shaking the banks down for large pots of money.
Banks that got poor reviews were punished; some saw their merger plans frustrated; others faced direct legal challenges by the Justice Department.
You do know what the word "originated" means?
Most significantly, Penny Pritzker, the current Finance Chairperson of Obama's presidential campaign helped develop the complicated investment bundling of subprime securities at the heart of the meltdown. She did so in her position as shareholder and board chair of Superior Bank. The Bank failed in 2001, one of the largest in recent history, wiping out $50 million in uninsured life savings of approximately 1,400 customers. She was named in a RICO class action law suit but doesn't seem to have come out of it too badly.
As a young attorney in the 1990s, Barack Obama represented ACORN in Washington in their successful efforts to expand Community Reinvestment Act (CRA) authority. In addition to making it easier for ACORN groups to force banks into making risky loans, this also paved the way for banks like Superior to package mortgages as investments, and for the Government Sponsored Enterprises Fannie Mae and Freddie Mac to underwrite them. These changes created the conditions that ultimately lead to the current financial crisis.
Did they not know this would occur? Were these smart people, led by a Harvard graduate, unaware of the Econ 101 concept of moral hazard that would result from the government making implicit guarantees to underwrite private sector financial risk? They should have known that freeing the high-risk mortgage market of risk, calamity was sure to ensue. I think they did.
I did read the article. The cause of the mortgage crisis is not the CRA. That's utter garbage which continues to get recycled by braindead ideologues. Why the hell should I believe anything else in that article the author writes when he gets something so spectacularly wrong?
There are no bloody facts in the statement that these people want a repeat of the Great Depression. If one believes this shit, one is weakminded and prone to stupid conspiracy theories.
It doesn't say that the CRA was the cause. It just says that it started the ball rolling in the Mortgage Crisis....which if you had read the fucken article you'd know wasn't the only crisis caused by this movement. The CRA was just one aspect of a crisis that took years to unfold. ACORN, Obama's baby, really got it going.
You do know what the word "originated" means?
The author clearly uses innuendo to suggest that the CRA was the cause of the crisis. This is what he says later on.
Most significantly, Penny Pritzker, the current Finance Chairperson of Obama's presidential campaign helped develop the complicated investment bundling of subprime securities at the heart of the meltdown. She did so in her position as shareholder and board chair of Superior Bank. The Bank failed in 2001, one of the largest in recent history, wiping out $50 million in uninsured life savings of approximately 1,400 customers. She was named in a RICO class action law suit but doesn't seem to have come out of it too badly.
As a young attorney in the 1990s, Barack Obama represented ACORN in Washington in their successful efforts to expand Community Reinvestment Act (CRA) authority. In addition to making it easier for ACORN groups to force banks into making risky loans, this also paved the way for banks like Superior to package mortgages as investments, and for the Government Sponsored Enterprises Fannie Mae and Freddie Mac to underwrite them. These changes created the conditions that ultimately lead to the current financial crisis.
Did they not know this would occur? Were these smart people, led by a Harvard graduate, unaware of the Econ 101 concept of moral hazard that would result from the government making implicit guarantees to underwrite private sector financial risk? They should have known that freeing the high-risk mortgage market of risk, calamity was sure to ensue. I think they did.
Really? Warren Buffett didn't. The CEOs of all the Wall Street banks didn't. The boards of the biggest commercial banks in the land didn't. The Federal Reserve didn't. The thousands of large institutions which bought CDOs stuffed full of subprime didn't. Are they all in on this conspiracy too?
The author is an ideological hack advancing an agenda.
As a community activist for ACORN; as a leadership trainer for ACORN; as a lead organizer for ACORN's Project Vote; as an attorney representing ACORN's successful efforts to impose Motor Voter regulations in Illinois; as ACORN's representative in lobbying for the expansion of high risk housing loans through Fannie Mae and Freddie Mac that led to the current crisis; as a recipient of their assistance in his political campaigns -- both with money and campaign workers; it is doubtful that he was unaware of ACORN's true goals. It is doubtful he was unaware of the Cloward-Piven Strategy.
Fast-forward to 2005 when an obsequious, servile and scraping Daniel Mudd, CEO of Fannie Mae spoke at the Congressional Black Caucus swearing in ceremony for newly-elected Illinois Senator, Barack Obama. Mudd called, the Congressional Black Caucus "our family" and "the conscience of Fannie Mae."
In 2005, Republicans sought to rein in Fannie and Freddie. Senator John McCain was at the forefront of that effort. But it failed due to an intense lobbying effort put forward by Fannie and Freddie.
In his few years as a U.S. senator, Obama has received campaign contributions of $126,349, from Fannie and Freddie, second only to the $165,400 received by Senator Chris Dodd, who has been getting donations from them since 1988. What makes Obama so special?
His closest advisers are a dirty laundry list of individuals at the heart of the financial crisis: former Fannie Mae CEO Jim Johnson; Former Fannie Mae CEO and former Clinton Budget Director Frank Raines; and billionaire failed Superior Bank of Chicago Board Chair Penny Pritzker.
Johnson had to step down as adviser on Obama's V.P. search after this gem came out:
An Office of Federal Housing Enterprise Oversight (OFHEO) report[1] from September 2004 found that, during Johnson's tenure as CEO, Fannie Mae had improperly deferred $200 million in expenses. This enabled top executives, including Johnson and his successor, Franklin Raines, to receive substantial bonuses in 1998.[2] A 2006 OFHEO report[3] found that Fannie Mae had substantially under-reported Johnson's compensation. Originally reported as $6-7 million, Johnson actually received approximately $21 million.
Obama denies ties to Raines but the Washington Post calls him a member of "Obama's political circle." Raines and Johnson were fined $3 million by the Office of Federal Housing Oversight for their manipulation of Fannie books. The fine is small change however, compared to the $50 million Raines was able to obtain in improper bonuses as a result of juggling the books.
Most significantly, Penny Pritzker, the current Finance Chairperson of Obama's presidential campaign helped develop the complicated investment bundling of subprime securities at the heart of the meltdown. She did so in her position as shareholder and board chair of Superior Bank. The Bank failed in 2001, one of the largest in recent history, wiping out $50 million in uninsured life savings of approximately 1,400 customers. She was named in a RICO class action law suit but doesn't seem to have come out of it too badly.
As a young attorney in the 1990s, Barack Obama represented ACORN in Washington in their successful efforts to expand Community Reinvestment Act (CRA) authority. In addition to making it easier for ACORN groups to force banks into making risky loans, this also paved the way for banks like Superior to package mortgages as investments, and for the Government Sponsored Enterprises Fannie Mae and Freddie Mac to underwrite them. These changes created the conditions that ultimately lead to the current financial crisis.
You are jealous to the point of derangement because he is more of a patriot than you could ever hope to be.So when exactly was his citizenship revoked?Soros emmigrated to the US the year of my birth but he didn't get his citizenship till years afterward. 1961 to be exact.
George Soros - Wikipedia, the free encyclopedia
They can become an American but if they do anything to cause harm to this country or break the law they can have their citizenship revoked. [He has been convicted of insider trading.]
He is a foreigner who is a naturalized citizen thus he cannot ever be President or Vice-President. He manages off-shore hedge funds and is a former council on foreign relations. I would like to see a chart showing the time he's spent in and outside the United States and compare it to my time inside and outside the US. I would love to make you eat your words.
As an American citizen he can be a governor, senator, congressman, he can vote, donate money, manage hedge funds, manage his email address book, be a member of the CFR, Skull and Bones, the Tri-Lateral Commission, the Boy Scouts, the KKK, and he can travel abroad, across country, and around the block. He is FREE to spend as much time in or outside the USA as he wants no matter how JEALOUS that makes you.
Jealous???
Of what??
He is a traitor. What's to be jealous of. I fail to see why this man and what he does would make me jealous. He operates outside of the US. His allegiance is not to this country but to his own Capitalist interests. Strange you would support a capitalist. If anyone needed to have his citizenship revoked it would be him. But that is beside the point.
Why you would defend his crimes makes me wonder. By throwing out a strawman argument it shows me you have nothing to say about the OP because you can't argue against it.
However Soros has been using his money to effect changes in economies like Russia, England, France, and Greece. Now the United States. Therefore he is guilty of influencing the change and making bets that an economy will fail after assuring it's failure.Soros Fund Management LLC, founded by George Soros, is a privately held corporation providing financial services and investment strategies for various funds including some controversial hedge funds such as the Quantum Group of Funds. The company's investment strategies have been based on analysis of real or perceived macroeconomic trends in various countries. Soros' companies have been accused of applying pressure on currencies to directly benefit their speculative strategies. Soros responds to these charges by saying that his funds merely take advantage of known weaknesses in the international financial system.
People were making serious money buying properties and rolling them over immediately causing the prices to go up. It got to the point that the profit was becoming less and less. The housing crash just made the value drop out of the market and cause millions to unload their undewater mortgages or just plain walk away from them. This has happened several times in the past. A home that was worth $500k a few months before can now be had for under $100k. Only the rich can take advantage of this kind of deal or banks hoping the government will bail them out. Millions of foreclosed homes are waiting to be unloaded on the market as we speak.
It didn't help that the Dems had been saying for years that lending institutions were using unfair lending practices to get people into their homes...so people just didn't feel like giving their lender anymore of their money. A pervasive hatred for Fat-cat bankers encouraged by Democrats became a constant theme in discussions among poorer homeowners. I was in the lending business and was hard pressed to find anyone with a score higher then 600. Nobody wanted to got through with their obligations cause the Democrats keep telling them that Bankers were fucking them in the ass. So bankruptcies skyrocketed. Stated income became the norm. Proof of income didn't have to be provided. Credit scores weren't considered and the poor were allowed to move into homes beyond their means to pay with no money down in some cases.
George Soros is using our Democrats to ruin this country and enrich himself in the process. He's done it before. How can an American politician be stupid enough to fall into this trap after seeing it repeated time and time again. Anyone with half a brain could see that Soros has done this to other countries. Why in the world would they allow themselves to be used to do the same thing here?
On the surface it seems simple. If you want to look at it as a Republican you'd believe anything about a group that seems to support terrorists and their causes, a group that hates America and just about everything it stands for. Well I don't think it's that way, at least not in their minds. I believe many Democrats that are taking cash and support from Soros believe they're doing something wonderful and historic for this country. They've rationalized that the suffering their actions are going to cause is a needed stage this country must go through to heal itself. The hell we're about to go through won't kill us they're thinking. Other countries have gone through it and survived and so can we. They don't care that this ideology has resulted in thousands of dead and also resulted in the suffering of millions in those countries. They don't care. They think the possibilities are tremendous. Do you want to allow them to test their beliefs at your expense?
Are you willing to allow them to institute change and transformation which might cause you to lose everything you have? Cause a Depression that might cost you your life or livelihood through starvation or your freedom through incarceration for breaking Green laws. Are you going to sit back while they give away our technology to the rest of the world but prevent us from using it for our own benefit? Are you going to allow them to turn us into a society that is totally dependent on the rest of the world for our needs because, after all, we've been abusing other countries in their minds throughout our history? We're evil. We need to be punished.
Did you know that Spread the Wealth really means paybacks are in order? It's called Collective Salvation. The pillage of the American Dream through transferal of our treasure to the people of the world. All of our strength, wealth, technology, and resources are being sent outside the US so we cannot live the dream that folks like Obama believe is sinful, evil, and oppressive to other countries. It's happening slowly at first but soon it will accelerate to the point that nobody can stop it. Yes there was an initial spurt of cash flowing out of the country through the TARP fund and the Stimulus Fund but it has slowed a bit the last several months. Now's it's a trickle. 20 billion here, 50 billion there. Soon it will accelerate again and it will be too late. The damage done. In 20 years there will be another America. A better America. When they figure that printing billions of dollars is a solution then you'll know that they're getting ready to ruin the dollar. [Guess what.....they announced this last week] Bernanke Prints Dollar Again? | Forex Crunch
Most of the Dems will be taken care of. They've had time to get their houses in order. Possibly set up a home overseas that they can live in safely and comfortably. If they have to they'll leave or the more brave of them may stick around and try to rebuild. Course they'll be risking their lives if they do because we will get wise to them. But after all...they feel they're doing us a favor. Doing something historic. Maybe they feel they can convince us of this. I doubt it but I think some of them think they can. If not...our guns will be gone after they sweep through the country and take them so we'll be defenseless.
Sounds ridiculous doesn't it. Well, this is the mindset of the people currently occupying the White House. We need to be cleansed before we can become the vision they dream of. We have to go through a figurative 40 day and 40 night flood or a depression so we can start over and become a shining example of perfection to the rest of the world. Some of us are going to have to be swept away so the best of us can come to the fore and do great things. This is the dream, the new American Dream that anyone who believes in this philosophy hopes for. They said that what they've done prevented another Depression...but really a Depression is what they're hoping for and what their actions are geared toward.
If you think this is good, and I know some do, then you'll welcome it. This is your dream. You may even benefit from it if you join the right groups.
If it scares the crap out of you then you're on the right track but also at greater risk then anyone.
If you don't care enough to take it seriously and you cannot believe it's possible...well then you most likely will just whine and complain but eventually you may see a better day...or your children might if they go along with the program or just plain get lucky.
This has happened to others and thinking that it can't happen to us is a fool's dream...outright willful ignorance. Obama has been telling us it's coming since before he was put in the Oval Office...he's just been a little short on details. Well the Devil is in the details.
Before It's News
ObamaGate is Now George Soros Ponzi Scheme Gate
The Hidden Soros Agenda: Drugs, Money, the Media, and Political Power
People were making serious money buying properties and rolling them over immediately causing the prices to go up. It got to the point that the profit was becoming less and less. The housing crash just made the value drop out of the market and cause millions to unload their undewater mortgages or just plain walk away from them. This has happened several times in the past. A home that was worth $500k a few months before can now be had for under $100k. Only the rich can take advantage of this kind of deal or banks hoping the government will bail them out. Millions of foreclosed homes are waiting to be unloaded on the market as we speak.
And? It wasn't the poor madly speculating in homes.
It didn't help that the Dems had been saying for years that lending institutions were using unfair lending practices to get people into their homes...so people just didn't feel like giving their lender anymore of their money. A pervasive hatred for Fat-cat bankers encouraged by Democrats became a constant theme in discussions among poorer homeowners. I was in the lending business and was hard pressed to find anyone with a score higher then 600. Nobody wanted to got through with their obligations cause the Democrats keep telling them that Bankers were fucking them in the ass. So bankruptcies skyrocketed. Stated income became the norm. Proof of income didn't have to be provided. Credit scores weren't considered and the poor were allowed to move into homes beyond their means to pay with no money down in some cases.
Yet, following the housing collapse, the rate of default was no higher amongst CRA loans.
Twenty-four of the top 25 subprime lenders did not have CRA mandates. Bigger housing bubbles occurred in several other countries, which BTW, had no CRA mandate. Yet, we are to believe that the CRA "created the conditions" that lead to the housing bubble. You bet.
You are jealous to the point of derangement because he is more of a patriot than you could ever hope to be.So when exactly was his citizenship revoked?
As an American citizen he can be a governor, senator, congressman, he can vote, donate money, manage hedge funds, manage his email address book, be a member of the CFR, Skull and Bones, the Tri-Lateral Commission, the Boy Scouts, the KKK, and he can travel abroad, across country, and around the block. He is FREE to spend as much time in or outside the USA as he wants no matter how JEALOUS that makes you.
Jealous???
Of what??
He is a traitor. What's to be jealous of. I fail to see why this man and what he does would make me jealous. He operates outside of the US. His allegiance is not to this country but to his own Capitalist interests. Strange you would support a capitalist. If anyone needed to have his citizenship revoked it would be him. But that is beside the point.
Why you would defend his crimes makes me wonder. By throwing out a strawman argument it shows me you have nothing to say about the OP because you can't argue against it.
However Soros has been using his money to effect changes in economies like Russia, England, France, and Greece. Now the United States. Therefore he is guilty of influencing the change and making bets that an economy will fail after assuring it's failure.Soros Fund Management LLC, founded by George Soros, is a privately held corporation providing financial services and investment strategies for various funds including some controversial hedge funds such as the Quantum Group of Funds. The company's investment strategies have been based on analysis of real or perceived macroeconomic trends in various countries. Soros' companies have been accused of applying pressure on currencies to directly benefit their speculative strategies. Soros responds to these charges by saying that his funds merely take advantage of known weaknesses in the international financial system.
You are jealous because he is a successful CAPITALIST and you are a failed Socialist Marxist Communist.
Short selling is an essential part of the Capitalist system, according to your MessiahRushie.
The Goldman Sachs Inquisition
April 27, 2010
RUSH: Folks, this has me fuming. What Levin here is essentially saying is that Goldman Sachs had devised not one, but a series of complex deals to profit from the collapse of the home mortgage market. Now, isn't that precisely what an investment firm should be doing for its clients? Would it not be irresponsible for them to do anything else? What are clients of Goldman Sachs supposed to do other than profit from hiring them? This is what's wrong with -- and you might be saying, "But, Rush! But, Rush! This is a housing market. This was the American dream and Goldman Sachs is betting on it to fail." Well, they bet both ways, but people bet short all the time. Are we going to eliminate going short on every financial transaction now? Because there's a winner and loser. It's a zero-sum game, folks.
For every winner there's a loser. I don't care which way the winner or loser goes. Sometimes the short seller loses; sometimes the long seller loses but somebody wins.
May 18, 2010
Rush: The German government is floating the idea of implementing a ban on all "naked short selling" in the market there. The euro has dropped by more than 1%. This will actually make things worse if you ban all naked short selling, because if the markets go up with no traders allowed to go short, then you can see a bubble burst as prices get artificially high with no professional shorting against the buying. You always have people on both sides of these things. If you take away the short sellers -- the people guaranteeing that the euro is going to go down or any market, any stock is going to go down -- then you're artificially messing with it, they think short sellers are what's destroying the euro, destroying the markets. This is the government intervening, once again, not knowing at all what they're doing.
in an attempt to drown out the sound of reason.
People were making serious money buying properties and rolling them over immediately causing the prices to go up. It got to the point that the profit was becoming less and less. The housing crash just made the value drop out of the market and cause millions to unload their undewater mortgages or just plain walk away from them. This has happened several times in the past. A home that was worth $500k a few months before can now be had for under $100k. Only the rich can take advantage of this kind of deal or banks hoping the government will bail them out. Millions of foreclosed homes are waiting to be unloaded on the market as we speak.
And? It wasn't the poor madly speculating in homes.
It didn't help that the Dems had been saying for years that lending institutions were using unfair lending practices to get people into their homes...so people just didn't feel like giving their lender anymore of their money. A pervasive hatred for Fat-cat bankers encouraged by Democrats became a constant theme in discussions among poorer homeowners. I was in the lending business and was hard pressed to find anyone with a score higher then 600. Nobody wanted to got through with their obligations cause the Democrats keep telling them that Bankers were fucking them in the ass. So bankruptcies skyrocketed. Stated income became the norm. Proof of income didn't have to be provided. Credit scores weren't considered and the poor were allowed to move into homes beyond their means to pay with no money down in some cases.
Yet, following the housing collapse, the rate of default was no higher amongst CRA loans.
Twenty-four of the top 25 subprime lenders did not have CRA mandates. Bigger housing bubbles occurred in several other countries, which BTW, had no CRA mandate. Yet, we are to believe that the CRA "created the conditions" that lead to the housing bubble. You bet.
What is truly hilarious is you PRETENDING that 99 weeks is OVER 2 YEARS to rationalize some hairbrained tinfoil hat conspiracy theory!!!!People were making serious money buying properties and rolling them over immediately causing the prices to go up. It got to the point that the profit was becoming less and less. The housing crash just made the value drop out of the market and cause millions to unload their undewater mortgages or just plain walk away from them. This has happened several times in the past. A home that was worth $500k a few months before can now be had for under $100k. Only the rich can take advantage of this kind of deal or banks hoping the government will bail them out. Millions of foreclosed homes are waiting to be unloaded on the market as we speak.
And? It wasn't the poor madly speculating in homes.
Yet, following the housing collapse, the rate of default was no higher amongst CRA loans.It didn't help that the Dems had been saying for years that lending institutions were using unfair lending practices to get people into their homes...so people just didn't feel like giving their lender anymore of their money. A pervasive hatred for Fat-cat bankers encouraged by Democrats became a constant theme in discussions among poorer homeowners. I was in the lending business and was hard pressed to find anyone with a score higher then 600. Nobody wanted to got through with their obligations cause the Democrats keep telling them that Bankers were fucking them in the ass. So bankruptcies skyrocketed. Stated income became the norm. Proof of income didn't have to be provided. Credit scores weren't considered and the poor were allowed to move into homes beyond their means to pay with no money down in some cases.
Twenty-four of the top 25 subprime lenders did not have CRA mandates. Bigger housing bubbles occurred in several other countries, which BTW, had no CRA mandate. Yet, we are to believe that the CRA "created the conditions" that lead to the housing bubble. You bet.
No higher then what?? Sub-prime loans??? Prime loans. I don't believe that fucken lie for one single second.
The CRA did lead to the conditions but it did not cause it all by itself.
Why do they call it a bubble???? The answer is very simple.
Because all it takes is one skinny prick to cause it all to pop.
Under the proper conditions with the kind of economic stresses that the Dems placed on the market along with the uncertainty they brought with them it was easy for them to cause the damage that followed. The fact that they've been extending unemployment benefits so that for the first time in our history people have been collecting their unemployment checks for over 2 years tells me that they knew what was coming because they were the cause. They can't seem to grab their ass with both hands but they knew the economy was going in the tank 3 years before it did. Explain that.
This will be hilarious.
What is truly hilarious is you PRETENDING that 99 weeks is OVER 2 YEARS to rationalize some hairbrained tinfoil hat conspiracy theory!!!!And? It wasn't the poor madly speculating in homes.
Yet, following the housing collapse, the rate of default was no higher amongst CRA loans.
Twenty-four of the top 25 subprime lenders did not have CRA mandates. Bigger housing bubbles occurred in several other countries, which BTW, had no CRA mandate. Yet, we are to believe that the CRA "created the conditions" that lead to the housing bubble. You bet.
No higher then what?? Sub-prime loans??? Prime loans. I don't believe that fucken lie for one single second.
The CRA did lead to the conditions but it did not cause it all by itself.
Why do they call it a bubble???? The answer is very simple.
Because all it takes is one skinny prick to cause it all to pop.
Under the proper conditions with the kind of economic stresses that the Dems placed on the market along with the uncertainty they brought with them it was easy for them to cause the damage that followed. The fact that they've been extending unemployment benefits so that for the first time in our history people have been collecting their unemployment checks for over 2 years tells me that they knew what was coming because they were the cause. They can't seem to grab their ass with both hands but they knew the economy was going in the tank 3 years before it did. Explain that.
This will be hilarious.
Of course, you are not as stupid as you pretend to be. You lie and exaggerate everything exactly like your mentor Stuttering LimpTard trained you to do. You mindlessly parrot every one of your MessiahRushie's lies from Soros is a foreigner to the Cloward and Piven Strategy to Saul Alinsky's Rules For Radicals and on and on. He OWNS you. You are incapable of even one thought of your own.
What is truly hilarious is you PRETENDING that 99 weeks is OVER 2 YEARS to rationalize some hairbrained tinfoil hat conspiracy theory!!!!No higher then what?? Sub-prime loans??? Prime loans. I don't believe that fucken lie for one single second.
The CRA did lead to the conditions but it did not cause it all by itself.
Why do they call it a bubble???? The answer is very simple.
Because all it takes is one skinny prick to cause it all to pop.
Under the proper conditions with the kind of economic stresses that the Dems placed on the market along with the uncertainty they brought with them it was easy for them to cause the damage that followed. The fact that they've been extending unemployment benefits so that for the first time in our history people have been collecting their unemployment checks for over 2 years tells me that they knew what was coming because they were the cause. They can't seem to grab their ass with both hands but they knew the economy was going in the tank 3 years before it did. Explain that.
This will be hilarious.
Of course, you are not as stupid as you pretend to be. You lie and exaggerate everything exactly like your mentor Stuttering LimpTard trained you to do. You mindlessly parrot every one of your MessiahRushie's lies from Soros is a foreigner to the Cloward and Piven Strategy to Saul Alinsky's Rules For Radicals and on and on. He OWNS you. You are incapable of even one thought of your own.
Back to your projection argument.
Pot meet kettle fuckwad.
No higher then what?? Sub-prime loans??? Prime loans. I don't believe that fucken lie for one single second.
Confirmation bias (also called confirmatory bias or myside bias) is a tendency for people to favor information that confirms their preconceptions or hypotheses regardless of whether the information is true.[Note 1][1] As a result, people gather evidence and recall information from memory selectively, and interpret it in a biased way. The biases appear in particular for emotionally significant issues and for established beliefs. For example, in reading about gun control, people usually prefer sources that affirm their existing attitudes. They also tend to interpret ambiguous evidence as supporting their existing position. Biased search, interpretation and/or recall have been invoked to explain attitude polarization (when a disagreement becomes more extreme even though the different parties are exposed to the same evidence), belief perseverance (when beliefs persist after the evidence for them is shown to be false), the irrational primacy effect (a stronger weighting for data encountered early in an arbitrary series) and illusory correlation (in which people falsely perceive an association between two events or situations).
The fact that they've been extending unemployment benefits so that for the first time in our history people have been collecting their unemployment checks for over 2 years tells me that they knew what was coming because they were the cause.
