If Trump is elected we are so screwed.

[Vigilante]

None of which changes anything. People who did not qualify for a loan, were going to get loans. Andrew Cuomo admitted openly that there would be a higher default rate.

Hello? That ends it. Nothing else you say, changes that fact. Bad loans... higher default rate.... unqualified borrowers. He said all of that. Are you saying the Clinton administration lied? Join the club. But to claim this was all false, you need to provide actual evidence.

It was all false. The problem wasn't bad loans. It was selling those bad loans to investors by exaggerating their values.

End of they, a borrower defaults, you sell his house to someone else. Problem solved as long as you are honestly and accurately evaluating the value of your assets. That's not what the banks did under Bush. They took loans they knew were going to go bad and sold them to unsuspecting investors.

You are a fucking idiot!

 

[Papageorgio]

Can I just make claims about what you said, and then proclaim victory? Is this your idea of intelligent debate?

So Joe is admitting he hates babies. Leftist clearly would destroy the entire human race.

Thanks for playing. (notice how I can make up crap you didn't say, just like you did to me?)

Joe, if you'd like to debate like and adult, let me know. Otherwise, find something else to do with your time. You'll never convince anyone of anything debating like a ten year old.

Guy, your own confusing screed said the banks were the problem, not the government.

The banks kept writing loans to people who couldn't pay them back. That's what you admitted.

Not because the government made them, but because they figured they could make their money back on a foreclosure.

It's when they couldn't the whole system fell apart.

And government did make them.



Andrew Cuomo, announcing a legal settlement with a major bank, to make sub-prime loans. He very clearly says they would not qualify for loans, but for this affirmative action. And he equally says that he's positive the default rate will be higher with these sub-prime loans.

Here's a clue.... if they are suing banks to make the loans.... then you can't blame the banks. Simple enough?

Thank you for spelling that out so well. Not that partisan nutters would ever get it.

 

[Vigilante]

 

[JoeB131]

If the loans couldn't have been sold, they wouldn't have been made, and Fanny and Freddie made it possible for them to be sold.

Fannie and Freddie didn't sell anything. You need to turn off the Hate Radio and read a book once in a while.

 

[JoeB131]

Thank you for spelling that out so well. Not that partisan nutters would ever get it.

Well, except even the banks aren't claiming "The Government Made me do it!"

Hey. This is really easy that even a near retard like you can understand. We had a recession in 2008 because the wealthy LIED. Lied about the value of property, lied that you could get rich flipping a McMansion, lied about the value of a mortgage to investors.

And they did it because George W. Stupid appointed porn-watching cronies to regulate them.

Report: SEC staffers watched porn as economy crashed - CNN.com

As the country was sinking into its worst financial crisis in more than 70 years, Security and Exchange Commission employees and contractors cruised porn sites and viewed sexually explicit pictures using government computers, according to an agency report obtained by CNN.

"During the past five years, the SEC OIG (Office of Inspector General) substantiated that 33 SEC employees and or contractors violated Commission rules and policies, as well as the government-wide Standards of Ethical Conduct, by viewing pornographic, sexually explicit or sexually suggestive images using government computer resources and official time," said a summary of the investigation by the inspector general's office.

More than half of the workers made between $99,000 and $223,000. All the cases took place over the past five years.

 

[JoeB131]

Here we go. According to the radical anti-corporate (anarchist?) left it seems that nobody respects a success story who becomes a multi millionaire with guts and smarts but they respect a community activist who made a living out of sharing a lucrative endowment with a former domestic terrorist in Chicago. You gotta laugh at how the liberal left has turned logic on it's freaking ear.

Except Trump did no such thing.

Trump inherited a lot of money from his father. He really didn't make anything. He engaged in a lot of projects which the government needed to bail out

Born on third base and thought he hit a triple.

 

[kaz]

Why people support Trump:

Obama rode the watch the world burn vote to 8 years of Presidency, it can be a winning strategy

 

[Kondor3]

...Marco Rubio has deep knowledge...

Who?

...Trump's solution to the immigration crisis is to insult millions of Hispanics and turn them off the Republican Party...

When people stand with their Illegal Alien brethren rather than the laws of their own country, then we have a problem anyway.

Consequently, the challenge is to move forward in dealing (harshly) with 12,000,000 Invaders, despite what those Divided-Loyalty types say or do.

In the Democratic lexicon, Immigration Reform = Codespeak for Shamnesty.

No thank you.

Trump's ideas on dealing with it are unrealistic, but he's got the right macro-level Draconian perspective, and he's made it 'safe' once again - fortunately - to discard Political Correctness in public dialogue about Illegal Aliens and their Anchor Babies.

...Trump is a big loudmouth who thinks he's a big success story, but he has had to file for bankrupty four times...

What matter how one reaches a successful standing, in this context?

...Trump is a complete disaster waiting to happen...

Probably.

But Marco isn't the answer.

Carly, on the other hand...

...Trump's insults of women show he doesn't even know how to act like a civilized person.

Oh, I'm sure you can say that about any of several groups he's offended, not just women.

Then again, most women deal every day with well-intentioned men who manifest as assholes from time to time.

And they continue to let us live, for some strange reason.

Not to worry.

 

[bripat9643]

If the loans couldn't have been sold, they wouldn't have been made, and Fanny and Freddie made it possible for them to be sold.

Fannie and Freddie didn't sell anything. You need to turn off the Hate Radio and read a book once in a while.

The bought mortgages, moron. You can't sell what no one will buy.

 

[Jarlaxle]

None of which changes anything. People who did not qualify for a loan, were going to get loans. Andrew Cuomo admitted openly that there would be a higher default rate.

Hello? That ends it. Nothing else you say, changes that fact. Bad loans... higher default rate.... unqualified borrowers. He said all of that. Are you saying the Clinton administration lied? Join the club. But to claim this was all false, you need to provide actual evidence.

It was all false. The problem wasn't bad loans. It was selling those bad loans to investors by exaggerating their values.

End of they, a borrower defaults, you sell his house to someone else. Problem solved as long as you are honestly and accurately evaluating the value of your assets. That's not what the banks did under Bush. They took loans they knew were going to go bad and sold them to unsuspecting investors.

You are a fucking idiot!

Well, yes, he is...but more to the point, he is DISHONEST.

 

[Papageorgio]

Thank you for spelling that out so well. Not that partisan nutters would ever get it.

Well, except even the banks aren't claiming "The Government Made me do it!"

Hey. This is really easy that even a near retard like you can understand. We had a recession in 2008 because the wealthy LIED. Lied about the value of property, lied that you could get rich flipping a McMansion, lied about the value of a mortgage to investors.

And they did it because George W. Stupid appointed porn-watching cronies to regulate them.

Report: SEC staffers watched porn as economy crashed - CNN.com

As the country was sinking into its worst financial crisis in more than 70 years, Security and Exchange Commission employees and contractors cruised porn sites and viewed sexually explicit pictures using government computers, according to an agency report obtained by CNN.

"During the past five years, the SEC OIG (Office of Inspector General) substantiated that 33 SEC employees and or contractors violated Commission rules and policies, as well as the government-wide Standards of Ethical Conduct, by viewing pornographic, sexually explicit or sexually suggestive images using government computer resources and official time," said a summary of the investigation by the inspector general's office.

More than half of the workers made between $99,000 and $223,000. All the cases took place over the past five years.

This failure in 2008 was predicted in 1997. Economists knew that it would happen it was a matter of when.

But Little Joey Boi, you go with porn caused the recession. and you called me a retard?

I'd put you on ignore because you are so stupid, however I enjoy laughing at your post, great comedy entertainment.

 

[easyt65]

I find it funny how Blackrock doesn't see how we are already screwed, how he worries no one will respect Trump when NO ONE respects Obama - not our allies or enemies.

A successful multi-million/billionaire is going to do worse than a Community Organizer?!

Yes Trump declared bankruptcy 4 times...and made a fortune 5 times. Meanwhile Obama has added more debt than every US President COMBINED and single-handedly secured the 1st YS Credit-Rating down-grade in history.

While I respect your right to your opinion I could not disagree with you more. I am still NOT saying Trump will make a good President. People like him because he is a slight narcissist, has an ego, says what he things, goes after what he wants, and consequencws be damned....not realizing that is what we have had for the last 7 years...and look how that's gone.

 

[TyroneSlothrop]

 

[amrchaos]

This is probably the most honestly debated held view thread I've seen about Trump.

I do not support Trump. I think his candidacy is a joke.

However, if he wins, the White House is going to gain so much Bling!! Gold trimmed Windows, Stone with gold trimmed Unicorns or Flamingoes, with diamond clusters for eyes.


Oh yes--we are going to have the most Gaudy residence for a sitting World leader ever!!

 

[JoeB131]

This failure in 2008 was predicted in 1997. Economists knew that it would happen it was a matter of when.

Really? Who? Can you post a link to an article from 1997 that said, "Letting poor people buy houses will ruin the economy!"

I am fucking amazed that people like you keep making excuses for the 1% no matter how bad they screw you.

 

[Slyhunter]

This failure in 2008 was predicted in 1997. Economists knew that it would happen it was a matter of when.

Really? Who? Can you post a link to an article from 1997 that said, "Letting poor people buy houses will ruin the economy!"

I am fucking amazed that people like you keep making excuses for the 1% no matter how bad they screw you.

The economy depends on slumlords being able to charge outrageous rents for their dumps.

Whatever happened to the rent is too high candidate.

 

[Andylusion]

None of which changes anything. People who did not qualify for a loan, were going to get loans. Andrew Cuomo admitted openly that there would be a higher default rate.

Hello? That ends it. Nothing else you say, changes that fact. Bad loans... higher default rate.... unqualified borrowers. He said all of that. Are you saying the Clinton administration lied? Join the club. But to claim this was all false, you need to provide actual evidence.

It was all false. The problem wasn't bad loans. It was selling those bad loans to investors by exaggerating their values.

End of they, a borrower defaults, you sell his house to someone else. Problem solved as long as you are honestly and accurately evaluating the value of your assets. That's not what the banks did under Bush. They took loans they knew were going to go bad and sold them to unsuspecting investors.

The problem wasn't bad loans........ it was selling bad loans to investors....

Why is selling bad loans to investors a problem.... if the bad loans themselves were not the problem?

Do you not see how absolutely bonkers you are sounding?

 

[Andylusion]

This failure in 2008 was predicted in 1997. Economists knew that it would happen it was a matter of when.

Really? Who? Can you post a link to an article from 1997 that said, "Letting poor people buy houses will ruin the economy!"

I am fucking amazed that people like you keep making excuses for the 1% no matter how bad they screw you.

It's amazing how people like you, after being shown the evidence over and over and over, instead shove your head up your own ideology, and keep blame shifting.

Reminds me of Hugo Chavez. "Subsidized food!" Food shortages. "Subsidized electricity!" Power outages. "Subsidized housing!" Housing shortages.

And what's the reason? Bad government policies? Of course not! It's the evil rich. Of course, most of the rich left Venezuela, but it's still their fault somehow.

You people never accept responsibility. You can't. The moment you did, your entire ideology would fall apart. So every failure has to be blamed on someone else. The "1%", which is a joke. You are the 1%.

 

[Andylusion]

This failure in 2008 was predicted in 1997. Economists knew that it would happen it was a matter of when.

Really? Who? Can you post a link to an article from 1997 that said, "Letting poor people buy houses will ruin the economy!"

I am fucking amazed that people like you keep making excuses for the 1% no matter how bad they screw you.

The economy depends on slumlords being able to charge outrageous rents for their dumps.

Whatever happened to the rent is too high candidate.

Was that a joke? Outrageous rents? Define outrageous?

Do you not know that compared to most of the world, we live in mansions?

 

[SwimExpert]

The problem wasn't bad loans........ it was selling bad loans to investors....

Why is selling bad loans to investors a problem.... if the bad loans themselves were not the problem?

Do you not see how absolutely bonkers you are sounding?

As much as I hate to admit it, for once Joe is [mostly] correct. To answer the question you pose, let's compare E coli tainted food. By itself, E coli tainted food is not a public health hazard. A manufacturer can dispose of the tainted food and the public problem is eliminated. But when you start selling that tainted food to the public it does become a problem. This example shows that a circumstance can be inherently bad but not pose a public problem until is distributed through the market.

The bad loans were a problem, but they were not the catalyzing problem that caused the crash. By themselves, the bad loans would have represented an auto-correcting situation. If banks choose to give out a few bad loans there would be a few risky situations, a few lenders might lose their homes, a few banks might take a few manageable losses, but overall it would all be naturally contained.

As housing prices fell, global investor demand for mortgage-related securities evaporated. This became apparent by July 2007, when investment bank Bear Stearns announced that two of its hedge funds had imploded. These funds had invested in securities that derived their value from mortgages. When the value of these securities dropped, investors demanded that these hedge funds provide additional collateral. This created a cascade of selling in these securities, which lowered their value further. Economist Mark Zandi wrote that this 2007 event was "arguably the proximate catalyst" for the financial market disruption that followed.[4]

...

Further, shadow banks were able to mask the extent of their risk taking from investors and regulators through the use of complex, off-balance sheet derivatives and securitizations.[17] Economist Gary Gorton has referred to the 2007–2008 aspects of the crisis as a "run" on the shadow banking system.[18]

Subprime mortgage crisis - Wikipedia, the free encyclopedia