Newt says reinstate Glass Steagal

[Truthmatters]

how do you claim the banks would have written the level of sub prime they did write while the rules were suspended?


What is your logical answer for why they would have fucked themselves?

 

[Toddsterpatriot]

how did the banks unload the shitty assed sub prime that would have backfired on them if they kept them?

Many banks kept the shitty mortgages they wrote.

Some even bought the shitty mortgages other banks wrote.

Prove your claim

Citigroup Subprime Losses and Writedowns

Check it out.

Weeks' worth of speculation about where Citigroup was headed following its heavy involvement in the subprime mortgage meltdown was pretty much confirmed on Tuesday morning when the bank announced a huge $18.1 billion write-down.

Wow, $18.1 billion!!!

 

[Toddsterpatriot]

how do you claim the banks would have written the level of sub prime they did write while the rules were suspended?


What is your logical answer for why they would have fucked themselves?

You haven't shown the rules would have reduced the amount of mortgages written.

 

[Truthmatters]

Yes I have you are just a partisan brick brain.

Why were these loans written at such levels in the ONE period of time that the rules were suspended?


Why were they not written at such high levels in the past?

why are they not now being written under the new finally implimented rules?

 

[Toddsterpatriot]

Yes I have you are just a partisan brick brain.

Why were these loans written at such levels in the ONE period of time that the rules were suspended?


Why were they not written at such high levels in the past?

why are they not now being written under the new finally implimented rules?

The only reason they were written is because the rules (which don't mention mortgages) weren't put in place?

How would the rules prevent a single mortgage? Show me.

Why aren't banks writing sub-prime mortgages now? LOL!

You're kidding, right? Because they lost so much money on the mortgages they wrote in the past. They don't want to make any loans. They want to rebuild their balance sheets.
They need higher levels of capital.

Rules about brokers and broker training has ZERO to do with it.

Thanks for the laughs.

 

[Toddsterpatriot]

Yes I have you are just a partisan brick brain.

Why were these loans written at such levels in the ONE period of time that the rules were suspended?


Why were they not written at such high levels in the past?

why are they not now being written under the new finally implimented rules?

Citi wrote off $18.1 billion, in a single chunk.
Billions more since.
And you wonder why they aren't writing as many loans now?
Moron!

 

[Truthmatters]

Who sells the very securities that caused this mess?


Brokers

 

[Truthmatters]

You dont understand the laws and their effects.

all you understand is what fox tells you

 

[Toddsterpatriot]

Who sells the very securities that caused this mess?


Brokers

Who wrote the securities that cost CITI $18.1 billion in the article I linked?

 

[Toddsterpatriot]

You dont understand the laws and their effects.

all you understand is what fox tells you

I know way more than you, it must be Fox. LOL!

It was funny to see you unable to prove your claims, agian.

 

[Truthmatters]

You have done nothing in this thread to prove me wrong.

i have laid out what happened and provided completely unbiased sources to the facts.

Just saying your right doesnt make it so

 

[Toddsterpatriot]

You have done nothing in this thread to prove me wrong.

i have laid out what happened and provided completely unbiased sources to the facts.

Just saying your right doesnt make it so

You said the rules would have prevented bad mortgages. No proof.

You said banks sold all their bad mortgages, Citibank proves you're wrong.

Sorry.

 

[Truthmatters]

Jan 15 2008, 8:00AM

is the date of your article.

The laws on brokers were reinstated a few months earlier.

They then could no longer dump the shit bags into securities could they?

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

 

[Toddsterpatriot]

Jan 15 2008, 8:00AM

is the date of your article.

The laws on brokers were reinstated a few months earlier.

They then could no longer dump the shit bags into securities could they?

Prove the broker rules would have stopped banks from selling mortgages. Or writing them.

 

[Truthmatters]

Thanks for helping me prove my point

 

[Truthmatters]

Citi went crashing jsut a couple of months after they could not longer game the brokers huh?


They could not unload the trash they had written and had to keep it on the books

 

[Toddsterpatriot]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

Those rules say nothing about mortgages.
Nothing about MBS.
Do you think broker dealers can't sell mortgages? Can't sell MBS?

 

[Toddsterpatriot]

Citi went crashing jsut a couple of months after they could not longer game the brokers huh?


They could not unload the trash they had written and had to keep it on the books

Why did they have to? What rule do you imagine forced them to keep it?

Why don't you post the exact rule? You're the expert after all.

 

[Truthmatters]

Who sales mortgage backed securities?