Moody's Predicts Democrat Landslide

[Roudy]

Damn, did you just use GREECE as an example?! You did, didn't you? Ha ha ha.

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down on them, and ended up taking everybody down with them. The Democrats and their policies are more to blame, it just ended up happening under Bush.

Do you remember all the nefarious ways the GOP deregulated the banks and mortgage industries? Almost like they did it on purpose. Need an example because you had your head up your ass back then? Bush loosened how much money banks had to keep in their reserves in case of an emergency. Said it was to help stimulate the economy.

Now you fools say the GOP saw the collapse coming and you warned us. If that's true, why did they loosen bank regulations? I don't think they are that stupid.

Never said the GOP didn't play any role. They both did, but to blame it all in the GOP just because Bush was in office is a farce. People forget that the House and Senate was controlled by the Dems at the time.

 

[mudwhistle]

Well that settles it!

Why even bother to hold an election?

Yeah....it's all over.
Let's not even waste our time....

Yeah.....why even have an election.

Just give it to Hillary.....even if she goes to jail.

 

[ScienceRocks]

Damn, did you just use GREECE as an example?! You did, didn't you? Ha ha ha.

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down on them, and ended up taking everybody down with them. The Democrats and their policies are more to blame, it just ended up happening under Bush.

Do you remember all the nefarious ways the GOP deregulated the banks and mortgage industries? Almost like they did it on purpose. Need an example because you had your head up your ass back then? Bush loosened how much money banks had to keep in their reserves in case of an emergency. Said it was to help stimulate the economy.

Now you fools say the GOP saw the collapse coming and you warned us. If that's true, why did they loosen bank regulations? I don't think they are that stupid.

The bastards want to deregulate again and do more reagan tax cutz...What stupidity!

 

[Roudy]

Damn, did you just use GREECE as an example?! You did, didn't you? Ha ha ha.

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down in them, and ended up taking everybody down with them.

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it. More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year. Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations. The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis



DEMS HAVE A LOT OF POWER UNDER DUBYA DID THEY?

Yeah and who forced the banks to give out these bad loans, Democrat controlled congress.

 

[mudwhistle]

Nothing pumps my nads like the thought of at least 8 more years of riots and degenerates roaming the streets.

 

[Roudy]

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down on them, and ended up taking everybody down with them. The Democrats and their policies are more to blame, it just ended up happening under Bush.

Do you remember all the nefarious ways the GOP deregulated the banks and mortgage industries? Almost like they did it on purpose. Need an example because you had your head up your ass back then? Bush loosened how much money banks had to keep in their reserves in case of an emergency. Said it was to help stimulate the economy.

Now you fools say the GOP saw the collapse coming and you warned us. If that's true, why did they loosen bank regulations? I don't think they are that stupid.

The bastards want to deregulate again and do more reagan tax cutz...What stupidity!

Too much regulation and too much deregulation isn't good. They both have their side effects.

 

[sealybobo]

Damn, did you just use GREECE as an example?! You did, didn't you? Ha ha ha.

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

Weird, Dems huh?



Jun 16th 2005

The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops


NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust?

According to estimates by The Economist, the total value of residential property in developed economies rose by more than $30 trillion over the past five years, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs. Not only does this dwarf any previous house-price boom, it is larger than the global stockmarket bubble in the late 1990s (an increase over five years of 80% of GDP) or America's stockmarket bubble in the late 1920s (55% of GDP). In other words, it looks like the biggest bubble in history.


http://www.economist.com/node/4079027


Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."



The banks have known for 30 years the risks involved on the loan products they sold. This is why they lobbied so hard to allow them to sell the bad products to investors so they would not be holding the bad paper or the risks. The developed the products like stated income stated assets then bundled them to make it appear they were blended risks and then sold them to multiple investors. Who bought these high risk loans?




Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum


YEP, DUBYA'S REGULATOR FAILURE, AS HE CHEERED ON THE BANKSTERS WORLD WIDE CREDIT BUBBLE HIT US HARD BUBBA

I don't think bush is stupid. I think they did it on purpose. Who benefitted from the housing crash? The rich. They bought so many houses for nothing.

The banks benefited the most and the people the least. They ended up getting "bailed out" and stopped giving out loans. The so called stimulus package did the exact opposite, the banks had no incentive to give out loans to make money. Instead they took the free govt money and invested it elsewhere. Overall Obama took a fire and poured gasoline on it,min essence destroying the economy. Thats one reason why the recovery never happened. Obaama is actually really at it doing this. Fanning the fires of racial and economic division is how he's taught the Dems to gain more voters.

Wow. So its the dems who are the party for the rich?

At least you're starting to understand the rich have too much power.

What policies should be implemented to make things right?

 

[Roudy]

Nothing pumps my nads like the thought of at least 8 more years of riots and degenerates roaming the streets.

Remind me again, has Obama come to the memorial for any of the fallen officers to sing a song, or even said a single thing about all the cops being shot recently?

 

[sealybobo]

Nothing pumps my nads like the thought of at least 8 more years of riots and degenerates roaming the streets.

How about 100 years? Or are you suggesting the GOP has the answers? What are they?

 

[Nyvin]

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down in them, and ended up taking everybody down with them.

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it. More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year. Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations. The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis



DEMS HAVE A LOT OF POWER UNDER DUBYA DID THEY?

Yeah and who forced the banks to give out these bad loans, Democrat controlled congress.

You see the low point on the right side of the map? The bar that says '07 under it? That's when Democrats started to control Congress.....

 

[Roudy]

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

Weird, Dems huh?



Jun 16th 2005

The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops


NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust?

According to estimates by The Economist, the total value of residential property in developed economies rose by more than $30 trillion over the past five years, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs. Not only does this dwarf any previous house-price boom, it is larger than the global stockmarket bubble in the late 1990s (an increase over five years of 80% of GDP) or America's stockmarket bubble in the late 1920s (55% of GDP). In other words, it looks like the biggest bubble in history.


http://www.economist.com/node/4079027


Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."



The banks have known for 30 years the risks involved on the loan products they sold. This is why they lobbied so hard to allow them to sell the bad products to investors so they would not be holding the bad paper or the risks. The developed the products like stated income stated assets then bundled them to make it appear they were blended risks and then sold them to multiple investors. Who bought these high risk loans?




Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum


YEP, DUBYA'S REGULATOR FAILURE, AS HE CHEERED ON THE BANKSTERS WORLD WIDE CREDIT BUBBLE HIT US HARD BUBBA

I don't think bush is stupid. I think they did it on purpose. Who benefitted from the housing crash? The rich. They bought so many houses for nothing.

The banks benefited the most and the people the least. They ended up getting "bailed out" and stopped giving out loans. The so called stimulus package did the exact opposite, the banks had no incentive to give out loans to make money. Instead they took the free govt money and invested it elsewhere. Overall Obama took a fire and poured gasoline on it,min essence destroying the economy. Thats one reason why the recovery never happened. Obaama is actually really at it doing this. Fanning the fires of racial and economic division is how he's taught the Dems to gain more voters.

Wow. So its the dems who are the party for the rich?

At least you're starting to understand the rich have too much power.

What policies should be implemented to make things right?

As we can see with Obamas policies and ideology the same people he claims to help are now suffering the most under him. It's just like Marxism, good on paper. The road to hell is paved with good intentions.

 

[sealybobo]

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down on them, and ended up taking everybody down with them. The Democrats and their policies are more to blame, it just ended up happening under Bush.

Do you remember all the nefarious ways the GOP deregulated the banks and mortgage industries? Almost like they did it on purpose. Need an example because you had your head up your ass back then? Bush loosened how much money banks had to keep in their reserves in case of an emergency. Said it was to help stimulate the economy.

Now you fools say the GOP saw the collapse coming and you warned us. If that's true, why did they loosen bank regulations? I don't think they are that stupid.

Never said the GOP didn't play any role. They both did, but to blame it all in the GOP just because Bush was in office is a farce. People forget that the House and Senate was controlled by the Dems at the time.

What bad policies did pelosi Reid pass that bush signed that led to the collapse?

 

[sealybobo]

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

Weird, Dems huh?



Jun 16th 2005

The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops


NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust?

According to estimates by The Economist, the total value of residential property in developed economies rose by more than $30 trillion over the past five years, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs. Not only does this dwarf any previous house-price boom, it is larger than the global stockmarket bubble in the late 1990s (an increase over five years of 80% of GDP) or America's stockmarket bubble in the late 1920s (55% of GDP). In other words, it looks like the biggest bubble in history.


http://www.economist.com/node/4079027


Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."



The banks have known for 30 years the risks involved on the loan products they sold. This is why they lobbied so hard to allow them to sell the bad products to investors so they would not be holding the bad paper or the risks. The developed the products like stated income stated assets then bundled them to make it appear they were blended risks and then sold them to multiple investors. Who bought these high risk loans?




Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum


YEP, DUBYA'S REGULATOR FAILURE, AS HE CHEERED ON THE BANKSTERS WORLD WIDE CREDIT BUBBLE HIT US HARD BUBBA

I don't think bush is stupid. I think they did it on purpose. Who benefitted from the housing crash? The rich. They bought so many houses for nothing.

The banks benefited the most and the people the least. They ended up getting "bailed out" and stopped giving out loans. The so called stimulus package did the exact opposite, the banks had no incentive to give out loans to make money. Instead they took the free govt money and invested it elsewhere. Overall Obama took a fire and poured gasoline on it,min essence destroying the economy. Thats one reason why the recovery never happened. Obaama is actually really at it doing this. Fanning the fires of racial and economic division is how he's taught the Dems to gain more voters.

Wow. So its the dems who are the party for the rich?

At least you're starting to understand the rich have too much power.

What policies should be implemented to make things right?

As we can see with Obamas policies and ideology the same people he claims to help are now suffering the most under him. It's just like Marxism, good on paper. The road to hell is paved with good intentions.

What policies?

 

[Dad2three]

Damn, did you just use GREECE as an example?! You did, didn't you? Ha ha ha.

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

Weird, Dems huh?



Jun 16th 2005

The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops


NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust?

According to estimates by The Economist, the total value of residential property in developed economies rose by more than $30 trillion over the past five years, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs. Not only does this dwarf any previous house-price boom, it is larger than the global stockmarket bubble in the late 1990s (an increase over five years of 80% of GDP) or America's stockmarket bubble in the late 1920s (55% of GDP). In other words, it looks like the biggest bubble in history.


http://www.economist.com/node/4079027


Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."



The banks have known for 30 years the risks involved on the loan products they sold. This is why they lobbied so hard to allow them to sell the bad products to investors so they would not be holding the bad paper or the risks. The developed the products like stated income stated assets then bundled them to make it appear they were blended risks and then sold them to multiple investors. Who bought these high risk loans?




Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum


YEP, DUBYA'S REGULATOR FAILURE, AS HE CHEERED ON THE BANKSTERS WORLD WIDE CREDIT BUBBLE HIT US HARD BUBBA

I don't think bush is stupid. I think they did it on purpose. Who benefitted from the housing crash? The rich. They bought so many houses for nothing.

The banks benefited the most and the people the least. They ended up getting "bailed out" and stopped giving out loans. The so called stimulus package did the exact opposite, the banks had no incentive to give out loans to make money. Instead they took the free govt money and invested it elsewhere. Overall Obama took a fire and poured gasoline on it,min essence destroying the economy. Thats one reason why the recovery never happened. Obaama is actually really at it doing this. Fanning the fires of racial and economic division is how he's taught the Dems to gain more voters.

Really? AFTER the Banksters had 60% of the loans in 2006 NO/LOW Doc loans, they stopped giving ANYONE who could breathe a loan? Weird, to bad we didn't have someone in the EXECUTIVE BRANCH who had authority to reign in the Banksters right Bubs?



Bush was pushing his Home-Ownership Society programs that was a major and successful part of his re election campaign in 2004. And Bush's regulators not only let banks do this, they attacked state regulators trying to do their jobs.


Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)

Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals (2004)
Lowering Investment banks capital requirements, Net Capital rule (2004)
Reversing the Clinton rule that restricted GSEs purchases of subprime loans (2004)
Lowering down payment requirements to 0% (2004)
Forcing GSEs to spend an additional $440 billion in the secondary markets (2004)
Giving away 40,000 free down payments EACH YEAR 2004-2007
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING (2003)


But the biggest policy was regulators not enforcing lending standards.

 

[ScienceRocks]

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

Weird, Dems huh?



Jun 16th 2005

The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops


NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust?

According to estimates by The Economist, the total value of residential property in developed economies rose by more than $30 trillion over the past five years, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs. Not only does this dwarf any previous house-price boom, it is larger than the global stockmarket bubble in the late 1990s (an increase over five years of 80% of GDP) or America's stockmarket bubble in the late 1920s (55% of GDP). In other words, it looks like the biggest bubble in history.


http://www.economist.com/node/4079027


Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."



The banks have known for 30 years the risks involved on the loan products they sold. This is why they lobbied so hard to allow them to sell the bad products to investors so they would not be holding the bad paper or the risks. The developed the products like stated income stated assets then bundled them to make it appear they were blended risks and then sold them to multiple investors. Who bought these high risk loans?




Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum


YEP, DUBYA'S REGULATOR FAILURE, AS HE CHEERED ON THE BANKSTERS WORLD WIDE CREDIT BUBBLE HIT US HARD BUBBA

I don't think bush is stupid. I think they did it on purpose. Who benefitted from the housing crash? The rich. They bought so many houses for nothing.

The banks benefited the most and the people the least. They ended up getting "bailed out" and stopped giving out loans. The so called stimulus package did the exact opposite, the banks had no incentive to give out loans to make money. Instead they took the free govt money and invested it elsewhere. Overall Obama took a fire and poured gasoline on it,min essence destroying the economy. Thats one reason why the recovery never happened. Obaama is actually really at it doing this. Fanning the fires of racial and economic division is how he's taught the Dems to gain more voters.

Wow. So its the dems who are the party for the rich?

At least you're starting to understand the rich have too much power.

What policies should be implemented to make things right?

Cut the shit out of infrastructure, science, r&d investment, our educational system, get rid of ssi, lower taxes on the rich and deregulate. That is his method. It sucks.

 

[sealybobo]

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

Weird, Dems huh?



Jun 16th 2005

The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops


NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust?

According to estimates by The Economist, the total value of residential property in developed economies rose by more than $30 trillion over the past five years, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs. Not only does this dwarf any previous house-price boom, it is larger than the global stockmarket bubble in the late 1990s (an increase over five years of 80% of GDP) or America's stockmarket bubble in the late 1920s (55% of GDP). In other words, it looks like the biggest bubble in history.


http://www.economist.com/node/4079027


Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."



The banks have known for 30 years the risks involved on the loan products they sold. This is why they lobbied so hard to allow them to sell the bad products to investors so they would not be holding the bad paper or the risks. The developed the products like stated income stated assets then bundled them to make it appear they were blended risks and then sold them to multiple investors. Who bought these high risk loans?




Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum


YEP, DUBYA'S REGULATOR FAILURE, AS HE CHEERED ON THE BANKSTERS WORLD WIDE CREDIT BUBBLE HIT US HARD BUBBA

I don't think bush is stupid. I think they did it on purpose. Who benefitted from the housing crash? The rich. They bought so many houses for nothing.

The banks benefited the most and the people the least. They ended up getting "bailed out" and stopped giving out loans. The so called stimulus package did the exact opposite, the banks had no incentive to give out loans to make money. Instead they took the free govt money and invested it elsewhere. Overall Obama took a fire and poured gasoline on it,min essence destroying the economy. Thats one reason why the recovery never happened. Obaama is actually really at it doing this. Fanning the fires of racial and economic division is how he's taught the Dems to gain more voters.

Wow. So its the dems who are the party for the rich?

At least you're starting to understand the rich have too much power.

What policies should be implemented to make things right?

As we can see with Obamas policies and ideology the same people he claims to help are now suffering the most under him. It's just like Marxism, good on paper. The road to hell is paved with good intentions.

I asked you what policies you would have implemented.

Please don't say lower corporate taxes when they are sitting on mountains of cash.

 

[Dad2three]

Didn't America almost go bankrupt? And the GOP are asking the poor and middle class to pick up the tab? Sounds like Greece, France, Arab uprising. Isn't Puerto Rico bankrupt?

Last question. What is our national debt? Go look at that and then make fun of Greece. Not only do the bankers (corporations) own you so does china. You only have a savings account as long as the bankers say you do and your home is only worth what they say it's worth.

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down in them, and ended up taking everybody down with them.

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it. More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year. Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations. The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis



DEMS HAVE A LOT OF POWER UNDER DUBYA DID THEY?

Yeah and who forced the banks to give out these bad loans, Democrat controlled congress.

YOUR TALKING POINT HAS BEEN DESTROYED BUBBA, IT WAS A WORD WIDE CREDIT BUBBLE AND BUST, DOZENS OF NATIONS. One Dubya cheered on in the US as he fough tthe regulators dummy!

 

[Roudy]

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down in them, and ended up taking everybody down with them.

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it. More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year. Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations. The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis



DEMS HAVE A LOT OF POWER UNDER DUBYA DID THEY?

Yeah and who forced the banks to give out these bad loans, Democrat controlled congress.

You see the low point on the right side of the map? The bar that says '07 under it? That's when Democrats started to control Congress.....

Remind us again who Barney Frank was and the role he played?

Frank's fingerprints are all over the financial fiasco - The Boston Globe

Frank's fingerprints are all over the financial fiasco
'THE PRIVATE SECTOR got us into this mess. The government has to get us out of it."

That's Barney Frank's story, and he's sticking to it. As the Massachusetts Democrat has explained it in recent days, the current financial crisis is the spawn of the free market run amok, with the political class guilty only of failing to rein the capitalists in. The Wall Street meltdown was caused by "bad decisions that were made by people in the private sector," Frank said; the country is in dire straits today "thanks to a conservative philosophy that says the market knows best." And that philosophy goes "back to Ronald Reagan, when at his inauguration he said, 'Government is not the answer to our problems; government is the problem.' "

In fact, that isn't what Reagan said. His actual words were: "In this present crisis, government is not the solution to our problem; government is the problem." Were he president today, he would be saying much the same thing.

Because while the mortgage crisis convulsing Wall Street has its share of private-sector culprits -- many of whom have been learning lately just how pitiless the private sector’s discipline can be -- they weren't the ones who "got us into this mess." Barney Frank's talking points notwithstanding, mortgage lenders didn't wake up one fine day deciding to junk long-held standards of creditworthiness in order to make ill-advised loans to unqualified borrowers. It would be closer to the truth to say they woke up to find the government twisting their arms and demanding that they do so - or else.

The roots of this crisis go back to the Carter administration. That was when government officials, egged on by left-wing activists, began accusing mortgage lenders of racism and "redlining" because urban blacks were being denied mortgages at a higher rate than suburban whites.

The pressure to make more loans to minorities (read: to borrowers with weak credit histories) became relentless. Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to "meet the credit needs" of "low-income, minority, and distressed neighborhoods." Lenders responded by loosening their underwriting standards and making increasingly shoddy loans. The two government-chartered mortgage finance firms, Fannie Mae and Freddie Mac, encouraged this "subprime" lending by authorizing ever more "flexible" criteria by which high-risk borrowers could be qualified for home loans, and then buying up the questionable mortgages that ensued.

All this was justified as a means of increasing homeownership among minorities and the poor. Affirmative-action policies trumped sound business practices. A manual issued by the Federal Reserve Bank of Boston advised mortgage lenders to disregard financial common sense. "Lack of credit history should not be seen as a negative factor," the Fed's guidelinesinstructed. Lenders were directed to accept welfare payments and unemployment benefits as "valid income sources" to qualify for a mortgage. Failure to comply could mean a lawsuit.

As long as housing prices kept rising, the illusion that all this was good public policy could be sustained. But it didn't take a financial whiz to recognize that a day of reckoning would come. "What does it mean when Boston banks start making many more loans to minorities?" I asked in this space in 1995. "Most likely, that they are knowingly approving risky loans in order to get the feds and the activists off their backs . . . When the coming wave of foreclosures rolls through the inner city, which of today's self-congratulating bankers, politicians, and regulators plans to take the credit?"

Frank doesn't. But his fingerprints are all over this fiasco. Time and time again, Frank insisted that Fannie Mae and Freddie Mac were in good shape. Five years ago, for example, when the Bush administration proposed much tighter regulation of the two companies, Frank was adamant that "these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis." When the White House warned of "systemic risk for our financial system" unless the mortgage giants were curbed, Frank complained that the administration was more concerned about financial safety than about housing.

Now that the bubble has burst and the "systemic risk" is apparent to all, Frank blithely declares: "The private sector got us into this mess." Well, give the congressman points for gall. Wall Street and private lenders have plenty to answer for, but it was Washington and the political class that derailed this train. If Frank is looking for a culprit to blame, he can find one suspect in the nearest mirror.

 

[Roudy]

Yes, when the Democrats forced the banks to give loans to everybody and his uncle, the shit was going to hit the fan sooner or later.

They were all working. Who know the corporate/GOP evil plot to send all those jobs overseas just so they could break unions, renig on pensions, give the rich and corporations tax breaks,pay Chinese wages hire illegals workers, cut ss and Medicare. All while waging two wars.

It's called disaster capitalism.

No actually it's called disaster socialism where Democrats force the banks to give out loans to people who weren't qualified to get loans. And then greedy Wall Street financial firms and advisors create exotic investment plans with these bad loans. The economy wasn't doing bad, the roof of banks came crashing down in them, and ended up taking everybody down with them.

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it. More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year. Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations. The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

Lest We Forget: Why We Had A Financial Crisis



DEMS HAVE A LOT OF POWER UNDER DUBYA DID THEY?

Yeah and who forced the banks to give out these bad loans, Democrat controlled congress.

YOUR TALKING POINT HAS BEEN DESTROYED BUBBA, IT WAS A WORD WIDE CREDIT BUBBLE AND BUST, DOZENS OF NATIONS. One Dubya cheered on in the US as he fough tthe regulators dummy!

I am not a Southerner, nor am I a white anglosaxon, you ignorant douchebag. LOL

 

[Roudy]

Weird, Dems huh?



Jun 16th 2005

The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops


NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust?

According to estimates by The Economist, the total value of residential property in developed economies rose by more than $30 trillion over the past five years, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs. Not only does this dwarf any previous house-price boom, it is larger than the global stockmarket bubble in the late 1990s (an increase over five years of 80% of GDP) or America's stockmarket bubble in the late 1920s (55% of GDP). In other words, it looks like the biggest bubble in history.


http://www.economist.com/node/4079027


Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."



The banks have known for 30 years the risks involved on the loan products they sold. This is why they lobbied so hard to allow them to sell the bad products to investors so they would not be holding the bad paper or the risks. The developed the products like stated income stated assets then bundled them to make it appear they were blended risks and then sold them to multiple investors. Who bought these high risk loans?




Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.

FACTS on Dubya's great recession | US Message Board - Political Discussion Forum


YEP, DUBYA'S REGULATOR FAILURE, AS HE CHEERED ON THE BANKSTERS WORLD WIDE CREDIT BUBBLE HIT US HARD BUBBA

I don't think bush is stupid. I think they did it on purpose. Who benefitted from the housing crash? The rich. They bought so many houses for nothing.

The banks benefited the most and the people the least. They ended up getting "bailed out" and stopped giving out loans. The so called stimulus package did the exact opposite, the banks had no incentive to give out loans to make money. Instead they took the free govt money and invested it elsewhere. Overall Obama took a fire and poured gasoline on it,min essence destroying the economy. Thats one reason why the recovery never happened. Obaama is actually really at it doing this. Fanning the fires of racial and economic division is how he's taught the Dems to gain more voters.

Wow. So its the dems who are the party for the rich?

At least you're starting to understand the rich have too much power.

What policies should be implemented to make things right?

As we can see with Obamas policies and ideology the same people he claims to help are now suffering the most under him. It's just like Marxism, good on paper. The road to hell is paved with good intentions.

I asked you what policies you would have implemented.

Please don't say lower corporate taxes when they are sitting on mountains of cash.

After the crash? I wouldn't give out all this cash to the banks (that some didn't even need) without preconditions, which just strengthened their portfolios and they basically stopped giving out loans to people period. They had no incentive to.

Before the crash getting a bank real estate loan just required that you fill out an application, after the crash getting a loan was impossible, and it continued for the next 6 years. So again, we went from one extreme to another. As a result people could no longer buy homes, because the slightest blemish in your credit report meant that the deal would fall out of escrow, therefore causing the real estate market to tank, therefore causing assets and perceived net worth to drop.