How about reparations for victims of the housing meltdown?

[Ray From Cleveland]

I was thinking about this today. Reparations for the housing meltdown would make more sense than the other reparations the Democrats are promoting. What's the difference? Plenty.

Slavery reparations are not deserved because nobody in this country today was a slave, unless you were a victim of a crime. All the people in our government today had no control over what government representatives did so many years ago.

Sexual preference reparations also should not be appropriated because there was little to no financial harm by the state not recognizing gay marriage. In fact, marriage is not even mentioned in the US Constitution. To the chagrin of leftists, it's still not.

College reparations. Again, not applicable because people who took loans out for an advanced education did so knowingly. If you made it to college, you were obviously not ignorant. You knew what you were getting into when you signed those forms. Plus for many people, it was an investment that will eventually pay off.

The housing meltdown was 100% the fault of government. Government changed the rules to 0% down and no credit check. The federal government are co-conspirators with Fanny and Freddy. The representatives at the time knew they were creating a problem and did nothing about it. They took advantage of the ignorant, many of whom today cannot purchase a home even if they wanted to. Some have been financially ruined for life. Unlike slavery, we know who was at fault and who the real victims are.

As long as the Democrats found this magic money making machine to pacify all those who were harmed or think they are harmed, why not reparations for people who lost everything in the housing collapse?

So, 'm guessing most Jewish art stolen by the Nazi's before and during the Second World War shouldn't be returned because they're dead.

Okay, returned to who?

Who will be forced to pay these reparations to blacks? All whites; many of which never had ancestors here during slavery? And who should they be paid to? Any black; even the blacks that also owned slaves during that time, or those that migrated here long after slavery was abolished?

 

[Dragonlady]

I was thinking about this today. Reparations for the housing meltdown would make more sense than the other reparations the Democrats are promoting. What's the difference? Plenty.

Slavery reparations are not deserved because nobody in this country today was a slave, unless you were a victim of a crime. All the people in our government today had no control over what government representatives did so many years ago.

Sexual preference reparations also should not be appropriated because there was little to no financial harm by the state not recognizing gay marriage. In fact, marriage is not even mentioned in the US Constitution. To the chagrin of leftists, it's still not.

College reparations. Again, not applicable because people who took loans out for an advanced education did so knowingly. If you made it to college, you were obviously not ignorant. You knew what you were getting into when you signed those forms. Plus for many people, it was an investment that will eventually pay off.

The housing meltdown was 100% the fault of government. Government changed the rules to 0% down and no credit check. The federal government are co-conspirators with Fanny and Freddy. The representatives at the time knew they were creating a problem and did nothing about it. They took advantage of the ignorant, many of whom today cannot purchase a home even if they wanted to. Some have been financially ruined for life. Unlike slavery, we know who was at fault and who the real victims are.

As long as the Democrats found this magic money making machine to pacify all those who were harmed or think they are harmed, why not reparations for people who lost everything in the housing collapse?

The housing bubble was Wall Street GREED. Wall Street Bankers approved those loans and sold those derrivatives. Greedy people who thought they could put nothing down, make no investiment, do no work and get rich "flipping" the house. They bought properties they knew they couldn't afford, and Wall Street helped them do it and made billions for themselves in doing so.

 

[keepitreal]

I was thinking about this today. Reparations for the housing meltdown would make more sense than the other reparations the Democrats are promoting. What's the difference? Plenty.

Slavery reparations are not deserved because nobody in this country today was a slave, unless you were a victim of a crime. All the people in our government today had no control over what government representatives did so many years ago.

Sexual preference reparations also should not be appropriated because there was little to no financial harm by the state not recognizing gay marriage. In fact, marriage is not even mentioned in the US Constitution. To the chagrin of leftists, it's still not.

College reparations. Again, not applicable because people who took loans out for an advanced education did so knowingly. If you made it to college, you were obviously not ignorant. You knew what you were getting into when you signed those forms. Plus for many people, it was an investment that will eventually pay off.

The housing meltdown was 100% the fault of government. Government changed the rules to 0% down and no credit check. The federal government are co-conspirators with Fanny and Freddy. The representatives at the time knew they were creating a problem and did nothing about it. They took advantage of the ignorant, many of whom today cannot purchase a home even if they wanted to. Some have been financially ruined for life. Unlike slavery, we know who was at fault and who the real victims are.

As long as the Democrats found this magic money making machine to pacify all those who were harmed or think they are harmed, why not reparations for people who lost everything in the housing collapse?

The housing meltdown was the fault of those
who had no business buying a house

Ignorance is not an excuse

Government forcing banks to lower standards was no help. It's like if there was a mentally retarded person, and government gave them a gun and they shot themselves, that government wasn't responsible for giving that person a gun.

People who should have had no ability to buy a home did so because the offer was out there. Blacks in the 90's complained about banks being discriminatory to minorities when it came to home loans. It had nothing to do with race, but statistically, blacks were and are less financially responsible than whites and couldn't secure a loan under the standard rules.

So they lowered the standards for minorities, and it was like a snowball rolling down the hill.

I agree, the government lowering lending standards
made it possible but thats besides the point.

I understand what you're saying, but we have to keep in mind that not all people are educated enough to understand housing loans. They can read what the forms say, but they'll never understand it enough to make a sound responsible decision.

Government forced banks to lower those standards so that ignorant people could also buy homes. I think we can agree that the government was at least partly responsible.

Again, ignorance is not an excuse
Being able to get what you want because you can,
regardless of whether you should
isn’t ignorance, that’s irresponsible

The amount of money that was earmarked to help
the most vulnerable homeowners keep their homes
was never actually spent helping many keep their homes

Why... because what sense does it make
to bail out homeowners you know will ultimately default

Africans and illegals caused the housing crisis
The government allowed it

 

[Ray From Cleveland]

Again, ignorance is not an excuse
Being able to get what you want because you can,
regardless of whether you should
isn’t ignorance, that’s irresponsible

Actually it's a little bit of both. Many people had loans on an ARM (which they didn't even understand) and their ignorance was that if you buy a home on an ARM at 2%, there is only one direction it can go from there, and that is up.

The irresponsibility part came in when they didn't have somebody explain to them what happens to their monthly payment when it does go up from 3% to 5% or more, or the fact it was inevitable.

 

[Ray From Cleveland]

I was thinking about this today. Reparations for the housing meltdown would make more sense than the other reparations the Democrats are promoting. What's the difference? Plenty.

Slavery reparations are not deserved because nobody in this country today was a slave, unless you were a victim of a crime. All the people in our government today had no control over what government representatives did so many years ago.

Sexual preference reparations also should not be appropriated because there was little to no financial harm by the state not recognizing gay marriage. In fact, marriage is not even mentioned in the US Constitution. To the chagrin of leftists, it's still not.

College reparations. Again, not applicable because people who took loans out for an advanced education did so knowingly. If you made it to college, you were obviously not ignorant. You knew what you were getting into when you signed those forms. Plus for many people, it was an investment that will eventually pay off.

The housing meltdown was 100% the fault of government. Government changed the rules to 0% down and no credit check. The federal government are co-conspirators with Fanny and Freddy. The representatives at the time knew they were creating a problem and did nothing about it. They took advantage of the ignorant, many of whom today cannot purchase a home even if they wanted to. Some have been financially ruined for life. Unlike slavery, we know who was at fault and who the real victims are.

As long as the Democrats found this magic money making machine to pacify all those who were harmed or think they are harmed, why not reparations for people who lost everything in the housing collapse?

The housing bubble was Wall Street GREED. Wall Street Bankers approved those loans and sold those derrivatives. Greedy people who thought they could put nothing down, make no investiment, do no work and get rich "flipping" the house. They bought properties they knew they couldn't afford, and Wall Street helped them do it and made billions for themselves in doing so.

There were many at fault. Like I said, it snowballed from there. But if we were to look at the birth of this thing that happened in the 90's, you can clearly see what started it and why those standards were lowered.

What you're talking about is what took place in the middle of the bubble instead of the beginning. You can never solve a problem by looking at the middle. To avoid problems in the future, you have to look at the genesis of the problem.

 

[rightwinger]

This thread is a huge fail.
Gonna thank Obama OP?

That's a good idea Lesh.

Thank you Obama for the slowest recovery since WWII.

Thank you Obama for destroying our healthcare.

Thank you Obama for adding 10 trillion to our debt.

Thank you Obama for turning Washington into Chicago DC by weaponizing our bureaucracies like the FBI and the IRS.

Thank you Obama for creating 40 million new government dependents from two social programs alone.

Anything else Lesh?

But but but...Trump is taking credit for Obama's economy in 3...2...1. These liberal losers will never accept responsibilities for their failures.

On one hand they tell us how this is Obama's economy. In the same breath, they complain that Trump reversed everything DumBama did. How can this be possible?

I do agree with the latter though. Trump promised to De-Bama the country when he ran for office, and that's exactly what he did.

I’ll tell you, my house dropped $80,000 during the Bush Recession of 2008

Once we elected the Great Obama, my house increased $120,000
Not only that, but when interest rates dropped to 3.5 percent, I refinanced and bought a second house in 2012

Life was good under the Great Obama

then you owe the government 40K dollars,,,

I pay more than that in taxes

 

[rightwinger]

I was thinking about this today. Reparations for the housing meltdown would make more sense than the other reparations the Democrats are promoting. What's the difference? Plenty.

Slavery reparations are not deserved because nobody in this country today was a slave, unless you were a victim of a crime. All the people in our government today had no control over what government representatives did so many years ago.

Sexual preference reparations also should not be appropriated because there was little to no financial harm by the state not recognizing gay marriage. In fact, marriage is not even mentioned in the US Constitution. To the chagrin of leftists, it's still not.

College reparations. Again, not applicable because people who took loans out for an advanced education did so knowingly. If you made it to college, you were obviously not ignorant. You knew what you were getting into when you signed those forms. Plus for many people, it was an investment that will eventually pay off.

The housing meltdown was 100% the fault of government. Government changed the rules to 0% down and no credit check. The federal government are co-conspirators with Fanny and Freddy. The representatives at the time knew they were creating a problem and did nothing about it. They took advantage of the ignorant, many of whom today cannot purchase a home even if they wanted to. Some have been financially ruined for life. Unlike slavery, we know who was at fault and who the real victims are.

As long as the Democrats found this magic money making machine to pacify all those who were harmed or think they are harmed, why not reparations for people who lost everything in the housing collapse?

The housing bubble was Wall Street GREED. Wall Street Bankers approved those loans and sold those derrivatives. Greedy people who thought they could put nothing down, make no investiment, do no work and get rich "flipping" the house. They bought properties they knew they couldn't afford, and Wall Street helped them do it and made billions for themselves in doing so.

There were many at fault. Like I said, it snowballed from there. But if we were to look at the birth of this thing that happened in the 90's, you can clearly see what started it and why those standards were lowered.

What you're talking about is what took place in the middle of the bubble instead of the beginning. You can never solve a problem by looking at the middle. To avoid problems in the future, you have to look at the genesis of the problem.

Poor people could not create an economic collapse of that magnitude

It was caused by greed, speculation and a lack of oversight
After the collapse, Democrats instituted tight regulatory standards to prevent it from happening again.

Republicans repealed them

 

[DOTR]

Liberal scum on the left coast now tax the crap out of businesses that don't even make money. If your business breaks even, or loses money, tough shit they slam them with taxes anyway.

The Dem motto is...I'M A GET MINE, SCREW YOU.

My sister owns MRI clinics around the country. They had one in California. A receptionist there quit showing up for work and after a month they hired a new one. A year later she showed up and sued them. Turns out in California just because somebody doesnt come to work doesnt mean you can assume you dont have to pay them. Her company had failed to send the proper forms notifying her she was fired. Long story short..they lost the lawsuit and she closed the clinic down. She says they will never do business in California again.

 

[Dragonlady]

Again, ignorance is not an excuse
Being able to get what you want because you can,
regardless of whether you should
isn’t ignorance, that’s irresponsible

Actually it's a little bit of both. Many people had loans on an ARM (which they didn't even understand) and their ignorance was that if you buy a home on an ARM at 2%, there is only one direction it can go from there, and that is up.

The irresponsibility part came in when they didn't have somebody explain to them what happens to their monthly payment when it does go up from 3% to 5% or more, or the fact it was inevitable.

Instead of blaming poor people for the housing bubble (Republicans blame the poor for EVERYTHING), put the blame on the bankers and Wall Street who made billions before the crash.

The poor are not responsible for the bad things that happen in the economy. They don't have enough economic power to do this. ONLY THE VERY WEALTHY CAN FUCK YOU OVER LIKE THIS.

What Caused the Subprime Mortgage Crisis?

The Housing Bubble: The Real Causes -- and Casualties

 

[rightwinger]

Liberal scum on the left coast now tax the crap out of businesses that don't even make money. If your business breaks even, or loses money, tough shit they slam them with taxes anyway.

The Dem motto is...I'M A GET MINE, SCREW YOU.

My sister owns MRI clinics around the country. They had one in California. A receptionist there quit showing up for work and after a month they hired a new one. A year later she showed up and sued them. Turns out in California just because somebody doesnt come to work doesnt mean you can assume you dont have to pay them. Her company had failed to send the proper forms notifying her she was fired. Long story short..they lost the lawsuit and she closed the clinic down. She says they will never do business in California again.

I don’t believe it

 

[BluesLegend]

Liberal scum on the left coast now tax the crap out of businesses that don't even make money. If your business breaks even, or loses money, tough shit they slam them with taxes anyway.

The Dem motto is...I'M A GET MINE, SCREW YOU.

My sister owns MRI clinics around the country. They had one in California. A receptionist there quit showing up for work and after a month they hired a new one. A year later she showed up and sued them. Turns out in California just because somebody doesnt come to work doesnt mean you can assume you dont have to pay them. Her company had failed to send the proper forms notifying her she was fired. Long story short..they lost the lawsuit and she closed the clinic down. She says they will never do business in California again.

Utterly ridiculous and so typical of the looney tunes left.

 

[WEATHER53]

The true cause was stated income loans based on credit score.
Hairdresser with a 720+ could state she made 180K per year and loan approved, idea was that since they had paid their credit cards and car payment on time that they would “Find a way” to make good on house note, Problem was credit cards were $200 each and car payment $400 but home loan $2,200 and that huge step up was not handled as well as the credit cards and car payment had been.
Very very few around DC did not understand the process. All participants working with them were bilingual, they wanted houses and public policy made it so and then it blew up.

 

[Ray From Cleveland]

The true cause was stated income loans based on credit score.
Hairdresser with a 720+ could state she made 180K per year and loan approved, idea was that since they had paid their credit cards and car payment on time that they would “Find a way” to make good on house note, Problem was credit cards were $200 each and car payment $400 but home loan $2,200 and that huge step up was not handled as well as the credit cards and car payment had been.
Very very few around DC did not understand the process. All participants working with them were bilingual, they wanted houses and public policy made it so and then it blew up.

The housing bubble destroyed a lot more lives than those with houses. We landlords suffered severely because there were no good tenants to be found; everybody was buying. It created a price war which lowered our rental income greatly.

At least over here, the bubble was responsible for totally destroying my suburb. When people in the ghetto found they can get a house for simply a signature, it was a vacation from the projects. They moved on in, and with them came the crime.

It took several years to get things under control as banks were trying to catch up with their foreclosures, but by the time they were done, the damage was nearly irreversible. It was like trying to restore a tornado torn area.

 

[Ray From Cleveland]

Again, ignorance is not an excuse
Being able to get what you want because you can,
regardless of whether you should
isn’t ignorance, that’s irresponsible

Actually it's a little bit of both. Many people had loans on an ARM (which they didn't even understand) and their ignorance was that if you buy a home on an ARM at 2%, there is only one direction it can go from there, and that is up.

The irresponsibility part came in when they didn't have somebody explain to them what happens to their monthly payment when it does go up from 3% to 5% or more, or the fact it was inevitable.

Instead of blaming poor people for the housing bubble (Republicans blame the poor for EVERYTHING), put the blame on the bankers and Wall Street who made billions before the crash.

The poor are not responsible for the bad things that happen in the economy. They don't have enough economic power to do this. ONLY THE VERY WEALTHY CAN FUCK YOU OVER LIKE THIS.

What Caused the Subprime Mortgage Crisis?

The Housing Bubble: The Real Causes -- and Casualties

I have said repeatedly that many were responsible. However the left always likes to lay the blame on GW and the Republicans. And yes, it was started because of the poor. However the people to blame are not the poor, it's the politicians that catered to the poor.

The poor don't need money to influence the people they vote for.

 

[Ray From Cleveland]

I was thinking about this today. Reparations for the housing meltdown would make more sense than the other reparations the Democrats are promoting. What's the difference? Plenty.

Slavery reparations are not deserved because nobody in this country today was a slave, unless you were a victim of a crime. All the people in our government today had no control over what government representatives did so many years ago.

Sexual preference reparations also should not be appropriated because there was little to no financial harm by the state not recognizing gay marriage. In fact, marriage is not even mentioned in the US Constitution. To the chagrin of leftists, it's still not.

College reparations. Again, not applicable because people who took loans out for an advanced education did so knowingly. If you made it to college, you were obviously not ignorant. You knew what you were getting into when you signed those forms. Plus for many people, it was an investment that will eventually pay off.

The housing meltdown was 100% the fault of government. Government changed the rules to 0% down and no credit check. The federal government are co-conspirators with Fanny and Freddy. The representatives at the time knew they were creating a problem and did nothing about it. They took advantage of the ignorant, many of whom today cannot purchase a home even if they wanted to. Some have been financially ruined for life. Unlike slavery, we know who was at fault and who the real victims are.

As long as the Democrats found this magic money making machine to pacify all those who were harmed or think they are harmed, why not reparations for people who lost everything in the housing collapse?

The housing bubble was Wall Street GREED. Wall Street Bankers approved those loans and sold those derrivatives. Greedy people who thought they could put nothing down, make no investiment, do no work and get rich "flipping" the house. They bought properties they knew they couldn't afford, and Wall Street helped them do it and made billions for themselves in doing so.

There were many at fault. Like I said, it snowballed from there. But if we were to look at the birth of this thing that happened in the 90's, you can clearly see what started it and why those standards were lowered.

What you're talking about is what took place in the middle of the bubble instead of the beginning. You can never solve a problem by looking at the middle. To avoid problems in the future, you have to look at the genesis of the problem.

Poor people could not create an economic collapse of that magnitude

It was caused by greed, speculation and a lack of oversight
After the collapse, Democrats instituted tight regulatory standards to prevent it from happening again.

Republicans repealed them

It had nothing to do with the Democrats. The boss of Fanny and Freddy is HUD. HUD makes the loan standards that F&F have to adhere to. If banks want the ability to sell off the loans they make, they have to abide to F&F standards.