New Study Finds Democrats Fully to Blame for Subprime Mortgage Crisis

[occupied]

Yup. Big, big contributors there. When the teevee cameras are on, it's a different story, of course.

.

Who tried to pass comprehensive banking reform and who attacked it like rabid pit bulls and are still trying to make it as ineffective as possible?

Well, the Dems tried to pass the reform and the GOP went after it. Obviously.

Is that a trick question?

Now here's one for you: How many Democrat candidates have returned campaign money from Wall Street?

.

Zero I suppose, but it apparently didn't buy them much since Wall Street went for republicans in a big way in 10 and 12.

 

[Toro]

lol

No it doesn't.


FFS, the OP is clueless.

 

[Mac1958]

Who tried to pass comprehensive banking reform and who attacked it like rabid pit bulls and are still trying to make it as ineffective as possible?

Well, the Dems tried to pass the reform and the GOP went after it. Obviously.

Is that a trick question?

Now here's one for you: How many Democrat candidates have returned campaign money from Wall Street?

.

Zero I suppose, but it apparently didn't buy them much since Wall Street went for republicans in a big way in 10 and 12.

Yeah, I guess it depends on what it actually does buy them. Legislation is one thing, but maybe just being treated with a lighter touch makes it worth it, too.

One of the reasons I hate money in politics...

.

 

[occupied]

The dancing around the issue doesn't cut it.

Bullshit, if you do not see a problem with the bankers writing their own regulations and then refusing to even follow them knowing they had the regulators tied up in knots then you are doing the fucking jitterbug around the "issue".

If I take out a mortgage from a bank and default on it how is it Bush's or anyone else's fault but my own?

How is it not the bank's fault in some way if you do not have the income to pay said mortgage? Did you go in there with a gun and make them give you a loan? They are supposed to check out your income with a microscope but in far too many cases they did not. Giving out a few mortgage loans to people who cannot afford them is unavoidable but giving out millions is a pattern caused by the incredibly high demand for American mortgage investments from all the brand new gullible Asian billionaires.

 

[Gadawg73]

Bullshit, if you do not see a problem with the bankers writing their own regulations and then refusing to even follow them knowing they had the regulators tied up in knots then you are doing the fucking jitterbug around the "issue".

If I take out a mortgage from a bank and default on it how is it Bush's or anyone else's fault but my own?

How is it not the bank's fault in some way if you do not have the income to pay said mortgage? Did you go in there with a gun and make them give you a loan? They are supposed to check out your income with a microscope but in far too many cases they did not. Giving out a few mortgage loans to people who cannot afford them is unavoidable but giving out millions is a pattern caused by the incredibly high demand for American mortgage investments from all the brand new gullible Asian billionaires.

Pay thy bills and none of this happens.
Proximate cause is folks not paying their mortgage.

 

[NYcarbineer]

Why does the right feel like they MUST periodically divert attention away from the bankers and brokers? Seriously, what has the Wall Street banksters ever done for any of you that deserves such devotion? What do you hope to accomplish by demonizing minor parts of the disaster and ignoring the rest? Making democrats look bad? Letting Wall Street completely off the hook to do this again and again is a huge price to pay for petty politics.

The issue is but for the federal government's interference in the real estate marketplace, none of this would have happened. Remember, it was the federal government that created the rules under which all those crazy so-called investments were legal.
No one group is exempt from blame. However, the fact is government made the initial error.
This one was a doozy!

The government doesn't make rules to make something legal. It's legal unless the government makes rules against it.

Therefore what you're saying is that lack of government regulation caused the problem.

Yes, that's pretty much it...

...and it never stops being funny when conservatives say it.

 

[NYcarbineer]

yeah, sure... as you say, sub prime mortgages were a scheme entirely exploited and abused by mortgage-hungry lenders, whose motive was to generate as many mortgages as possible and then sell them off for a profit...

but, as I understand it, it was the Dems who opened the door that allowed this to happen...


the Dems, in their usual shit-for-brains manner, were the ones who hatched the scheme that was then exploited...

The Democrats weren't in power in the 2000's until 2009. By then the real estate bubble had burst.

Believe what you want. In Conservatopia, it's always the left's fault. We get that.

But most people live in normal America, where facts, not wishes, determine the truth.

you are truly uninformed

they won both the house and senate in 2006

I'm sorry, who was the Democratic President in 2007???

the real estate bubble had already blown up by then, the explosives were already in place.

If anyone in government is to blame, it's the GW Bush/Republican Congress of 2002 to 2006.

 

[Katzndogz]

Making bad loans was only part of the problem. The other part was that because a bubble was created by the availability of easy money housing values gave people huge equities. The money was treated like a bottomless piggy bank. They borrowed and refinanced until they couldn't afford the payments.

 

[NYcarbineer]

There is of course the other side of the story (aka the facts) from Businessweek in this case:


Community Reinvestment Act had nothing to do with subprime crisis

Posted by: Aaron Pressman on September 29, 2008

Fresh off the false and politicized attack on Fannie Mae and Freddie Mac, today we’re hearing the know-nothings blame the subprime crisis on the Community Reinvestment Act — a 30-year-old law that was actually weakened by the Bush administration just as the worst lending wave began. This is even more ridiculous than blaming Freddie and Fannie....

Community Reinvestment Act had nothing to do with subprime crisis - BusinessWeek

Good article by Businessweek but when Bush went to Congress and warned them not once BUT TWICE, they did nothing in 2003-2006. Congress was run by REPUBLICANS then but when it hit in 2007 Democrats controlled it and DID NOTHING to stop Freddie or Fannie.
Democrats failed to react after the Republicans failed to react when Bush went up there long before the crisis.
Both parties to blame but when the shit hit the fan Democrats dropped the ball.

By 2007 the mortgages were already on the books. There was no magic that any politician was going to do that was going to put that toothpaste back in the tube as they say. Trying to blame this on Nancy Pelosi is demented.

 

[Yurt]

The Democrats weren't in power in the 2000's until 2009. By then the real estate bubble had burst.

Believe what you want. In Conservatopia, it's always the left's fault. We get that.

But most people live in normal America, where facts, not wishes, determine the truth.

you are truly uninformed

they won both the house and senate in 2006

I'm sorry, who was the Democratic President in 2007???

the real estate bubble had already blown up by then, the explosives were already in place.

If anyone in government is to blame, it's the GW Bush/Republican Congress of 2002 to 2006.

you said the dems were not in power until 09'. that is wholly untrue. you obviously have no clue how the government works and for some unknown reason believe only the executive branch controls the entire government.

take civics 101 and get back to me.

your statement that the right only blames the left is truly IRONIC coming from you who, in the post above, blamed everything on the right.

i hope your next post is more intelligent.

 

[Gadawg73]

Why does the right feel like they MUST periodically divert attention away from the bankers and brokers? Seriously, what has the Wall Street banksters ever done for any of you that deserves such devotion? What do you hope to accomplish by demonizing minor parts of the disaster and ignoring the rest? Making democrats look bad? Letting Wall Street completely off the hook to do this again and again is a huge price to pay for petty politics.

The issue is but for the federal government's interference in the real estate marketplace, none of this would have happened. Remember, it was the federal government that created the rules under which all those crazy so-called investments were legal.
No one group is exempt from blame. However, the fact is government made the initial error.
This one was a doozy!

The government doesn't make rules to make something legal. It's legal unless the government makes rules against it.

Therefore what you're saying is that lack of government regulation caused the problem.

Yes, that's pretty much it...

...and it never stops being funny when conservatives say it.

Tell that to EEOC cases where companies are labeled as racist, anti seniors or anti handicapped.