New study confirms democrats crashed the economy DUH...

Discussion in 'Politics' started by Wehrwolfen, Dec 21, 2012.

  1. Wehrwolfen
    Offline

    Wehrwolfen Senior Member

    Joined:
    May 22, 2012
    Messages:
    2,752
    Thanks Received:
    338
    Trophy Points:
    48
    Ratings:
    +339
    New study confirms democrats crashed the economy DUH...​



    By: ROBERT MOON
    12/21/2012


    A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left's race-baiting attacks on the housing market (the Community Reinvestment Act

    -President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.

    -No one was making bad loans to unqualified people until Democrats came along and threatened to drag banks into court and have them fined and branded as racists if they didn't go along with the left's Affirmative Action lending policies...all while federally insuring their losses. Even the New York Times warned in the late 1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.​

    (Excerpt)

    Read more:
    New study confirms economy was destroyed by Democrat policies - National Conservative | Examiner.com
     
    • Thank You! Thank You! x 2
  2. Truthseeker420
    Offline

    Truthseeker420 Gold Member

    Joined:
    Mar 30, 2011
    Messages:
    10,365
    Thanks Received:
    980
    Trophy Points:
    138
    Location:
    Home of the 2013 BCS National Champion
    Ratings:
    +1,026
    Isn't the Examiner the same paper that misread the report on Chrysler jobs in China?
     
  3. CrusaderFrank
    Offline

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,277
    Thanks Received:
    14,924
    Trophy Points:
    2,210
    Ratings:
    +37,090
    "These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis," -- Democrats 2008
     
  4. Mr. Shaman
    Offline

    Mr. Shaman Senior Member

    Joined:
    May 4, 2010
    Messages:
    23,892
    Thanks Received:
    817
    Trophy Points:
    48
    Ratings:
    +819


    Gee.....makes ya' wonder why he was in such a hurry to saddle minorities with a mortgage!!!

    [​IMG]

    [ame=http://www.youtube.com/watch?v=rKKvMJeBBSA]Q&A: Leslie & Andrew Cockburn - YouTube[/ame]

    See: 5:00 thru 12:00
     
  5. Missourian
    Offline

    Missourian Gold Member

    Joined:
    Aug 30, 2008
    Messages:
    16,281
    Thanks Received:
    4,799
    Trophy Points:
    280
    Location:
    Missouri
    Ratings:
    +8,124


    Democrats and the media insist the Community Reinvestment Act, the anti-redlining law beefed up by President Clinton, had nothing to do with the subprime mortgage crisis and recession.


    But a new study by the respected National Bureau of Economic Research finds, "Yes, it did. We find that adherence to that act led to riskier lending by banks."


    Added NBER: "There is a clear pattern of increased defaults for loans made by these banks in quarters around the (CRA) exam. Moreover, the effects are larger for loans made within CRA tracts," or predominantly low-income and minority areas.

     
  6. bestlink101
    Offline

    bestlink101 Rookie

    Joined:
    Dec 21, 2012
    Messages:
    30
    Thanks Received:
    2
    Trophy Points:
    1
    Ratings:
    +2
    yeah and iraq didnt use any of the govs money
     
  7. occupied
    Offline

    occupied Gold Member

    Joined:
    Nov 8, 2011
    Messages:
    16,489
    Thanks Received:
    2,258
    Trophy Points:
    280
    Ratings:
    +5,808
    I smell BS. The article in question does not link to the alleged study and a look at the NBER website reveals no recent study that addresses the housing crash or anything remotely related. Otherwise the article is nothing more than a rehash of Wall Street alibis and conspiracy theories.
     
  8. bripat9643
    Offline

    bripat9643 Diamond Member

    Joined:
    Apr 1, 2011
    Messages:
    67,949
    Thanks Received:
    8,101
    Trophy Points:
    2,030
    Ratings:
    +27,472

    It will be interesting to see how the lying libturds attempt to spin that news.
     
  9. Mac1958
    Offline

    Mac1958 Platinum Member

    Joined:
    Dec 8, 2011
    Messages:
    30,289
    Thanks Received:
    6,510
    Trophy Points:
    1,160
    Location:
    Independent Ave.
    Ratings:
    +20,528
    .

    The CRA played a part, as did many other things and many other people.

    But this disaster has been decades in the making, putting an inflated lifestyle on credit cards, and those bills are now coming due.

    I'm sick of the finger-pointing. This country needs to look in the mirror. For a change.

    .
     
  10. bripat9643
    Offline

    bripat9643 Diamond Member

    Joined:
    Apr 1, 2011
    Messages:
    67,949
    Thanks Received:
    8,101
    Trophy Points:
    2,030
    Ratings:
    +27,472
    I like this graph from the article. It's extremely incriminating:

    [​IMG]
     

Share This Page