HUGGY
I Post Because I Care
House bill to hit millionaires with 5.4 pct surtax
Should be more like 20%.
Should be more like 20%.
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The rich do not "create jobs."
Really! Who does, the middle class or the poor?
Really! Who does, the middle class or the poor?
Not sure .Could have been when they started to sell crack houses for 140,000 $ to crack whores on Sunset point road in Clearwater Fl, that was a clue.Probably not. As I remember the story, the beans were actually magic. The loans? Severely lacking in magic.
The loans are what they are, if you can't afford it, don't sign your name on the dotted line. I "qualified" for much higher, but stayed within what i knew were my means. This "predatory lending" whining is the biggest cop out ever........
Pray tell how people were supposed to know that housing prices would crash?
The Adminstration has a plan to club the not as rich to death as well. Free health care.I love how the right all parrot this talking point about how the rich create jobs.
Bullshit.
Most jobs are created by small businesses, not the rich.
The rich have been screwing the middle class since Reagan was elected, and you dummies are so brainwashed that you don't even know it.
OMGNOWAY i didn't know either, please bail me out Obama !
So lets see....your blaming people for not knowing something you didn't know?
Alrighty then
You really do talk out of both sides of your face, i'm gonna splain' this to you slowly. I'll concede that fact that most americans, including me, didn't know it was gonna crash like this. But that is no excuse, i didn't know, yet i'm still in my home, making all mortgage payments on time because i did not overreach even though the lender, real estate agent, etc... wanted me to.....
The loans are what they are, if you can't afford it, don't sign your name on the dotted line. I "qualified" for much higher, but stayed within what i knew were my means. This "predatory lending" whining is the biggest cop out ever........
Pray tell how people were supposed to know that housing prices would crash?
Did you even read what he said?
Seriously, if I have a mortgage I can afford, it doesn't matter how much my house is worth, or if the value goes down. I CAN STILL AFFORD THE MORTGAGE PAYMENT REGARDLESS OF THE HOUSE VALUE.
Another thread blaming those who earned their status for all the woes again? This is getting old.
What part don't you understand???
We pay TWICE AS MUCH per capita as every other Western democracy for healthcare and our outcomes are only as good or in some cases worst.
What part of that don't you understand???
I suppose that in your fantasy world, the price of health care in the US will magically drop as soon as the government gets even more involved.
Another thread blaming those who earned their status for all the woes again? This is getting old.
Kids born wealthy earned their status?
How's that work?
If the ones not making any weren't trying to live like they are making big money, we wouldn't be in this mess.
Actually a lot of the mortgages that went under were people who were making decent/good money. Besides that many of them weren't trying to live like they are making big money, the banks were pressuring them to get huge loans saying that they could easily make money on the houses.
And the banks were pressured by who? Ever hear of the Community Reinvestment Act? As usual, it comes back to our great government/politicians.
Its common knowledgeActually a lot of the mortgages that went under were people who were making decent/good money. Besides that many of them weren't trying to live like they are making big money, the banks were pressuring them to get huge loans saying that they could easily make money on the houses.
And the banks were pressured by who? Ever hear of the Community Reinvestment Act? As usual, it comes back to our great government/politicians.
They weren't pressured by anyone. The CRA was to prevent redlining.
The CRA was enacted in 1977. You think it took 30 years to have any effect?
Its common knowledgeAnd the banks were pressured by who? Ever hear of the Community Reinvestment Act? As usual, it comes back to our great government/politicians.
They weren't pressured by anyone. The CRA was to prevent redlining.
The CRA was enacted in 1977. You think it took 30 years to have any effect?
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- The Real Culprits In This Meltdown
In 1977, Democrat President Jimmy Carter and the Democratic Congress passed the Community Reinvestment Act (CRA). This act forced banks to provide credit, including home ownership opportunities to under-served populations.
In 1993, Democrat Bill Clinton asked his Treasury Secretary to come up with reforms to increase the expand the CRA.
In 1997, Democrat Bill Clinton increased the market share of these CRA loans from almost zero to almost 15%. Fannies and Freddies combined portfolios went from about $200 billion to over $1 trillion during Clintons term in office a five fold increase.
In 2005, Bush attempted to reform Fannie Mae and Freddie Mac (GSEs) but he was rejected along party lines despite warnings by Federal Reserve Chairman Alan Greenspan.
Democrats $1 Trillion Mess « Look2theWest
Its common knowledgeAnd the banks were pressured by who? Ever hear of the Community Reinvestment Act? As usual, it comes back to our great government/politicians.
They weren't pressured by anyone. The CRA was to prevent redlining.
The CRA was enacted in 1977. You think it took 30 years to have any effect?
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- The Real Culprits In This Meltdown
In 1977, Democrat President Jimmy Carter and the Democratic Congress passed the Community Reinvestment Act (CRA). This act forced banks to provide credit, including home ownership opportunities to under-served populations.
In 1993, Democrat Bill Clinton asked his Treasury Secretary to come up with reforms to increase the expand the CRA.
In 1997, Democrat Bill Clinton increased the market share of these CRA loans from almost zero to almost 15%. Fannies and Freddies combined portfolios went from about $200 billion to over $1 trillion during Clintons term in office a five fold increase.
In 2005, Bush attempted to reform Fannie Mae and Freddie Mac (GSEs) but he was rejected along party lines despite warnings by Federal Reserve Chairman Alan Greenspan.
Democrats $1 Trillion Mess « Look2theWest
More than often than not, Right wing talking points and facts are one in the same , this in one such occasion, sorry.
while upper income borrowers received nearly 40 percent of the loans.
If the ones not making any weren't trying to live like they are making big money, we wouldn't be in this mess.
Actually a lot of the mortgages that went under were people who were making decent/good money. Besides that many of them weren't trying to live like they are making big money, the banks were pressuring them to get huge loans saying that they could easily make money on the houses.
I don't give a fuck what the bank tells you that you can afford. Is there no personal accountability to look at the numbers and and make a responsible decision on what you can afford? We laugh at this all the time! I know people that if the bank tells them they can have say $500 000, they'll try for $600 000!
I mean should a person really own a house if they can't decide for themselves that they can afford it?
There are lots of variables, and languange ,equating(yours), causing(others) I use contribute to the problemExcept for the obvious lies, such as equating CRA loans with subprime loans.
More than often than not, Right wing talking points and facts are one in the same , this in one such occasion, sorry.
There are lots of variables, and languange ,equating(yours), causing(others) I use contribute to the problemExcept for the obvious lies, such as equating CRA loans with subprime loans.
Economist Thomas DiLorenzo, for instance, wrote that the current housing crisis is "the direct result of thirty years of governmentpolicy that has forced banks to make bad loans to un-creditworthy borrowers." 2 Robert Litan of the BrookingsInstitution similarly suggested that the 1990s enhance-ment of the CRA may have contributed to the current crisis. "If the CRA had not been so aggressively pushed," Litan said, "it is conceivable things would not be quite as bad. People have to be honest about that.
CRA Lending During the Subprime Meltdown
The report states Despite these caveats, we believe that this research should help to quell if not fully lay to rest the arguments that the CRA caused the current subprime lending boom by requiring banks to lend irresponsibly in low- and moderate-income areas.
The Government-Created Subprime Mortgage Meltdown by Thomas DiLorenzo
If you believe there was "no effect" from the CRA, that is your position.