Andylusion
Platinum Member
Claiming you refuted the facts with fallacies isn't doing you or your ignorant ideologue pals any good.I keep knocking down the lies that Androw keeps posting, because they just aren't true.CRA loans were minimal in the housing markets. And those loans had a low rate of failure. Subprime was where it was failing, in the loans that were sub-Alt-A, with credit ratings of borrowers below 640. It's ridiculous to try to pin the blame on the CRA loans, when they were a tiny part of the market, and had low rates of failure.That's not what happened at all. GSEs guaranteed the better loans, so banks had the ability to make more loans to those with good credit that they'd never have the ability to make. Wall Street saw a way to move into a market that had been ignored for decades, but was far riskier.Fannie and Freddie are barred from underwriting those loans.
yes they had cheaper money thanks to liberal GSE status so got all the best loans forcing the others to take more and more of the lower quality loans.
So, GSEs in no way forced wall street into what was almost like a new market.
GSEs didn't "force" wall street into sub-prime mortgages. They just took the risk out of it. The CRA and lawsuits by groups like ACORN are what forced the banks into it.
Talk about "squirming." It couldn't be more obvious that the federal government was up to its neck in the sub-prime mortgage business. You're sticking your fingers in your ears and yelling "I can't hear you!"
You're just spewing one lie after another. Where do you get off claiming "CRA loans were minimal in the housing markets?" Anton posted the evidence that they had a high rate of failure. CRA loans were all "sub-prime," so you attempt to make a distinction between the two is laughable.
No Marco Rubio government did not cause the housing crisis - The Washington Post
Welcome back stupid. We were waiting for your foolish idiocy to give us something to laugh at.
The article is wrong. I have already on this thread, refuted the claims this article makes, numerous times. If you are not willing to listen to reality then, then you are certainly far too intellectually damaged to grasp if I refute it again.
Interestingly, the article directly refutes claims YOU have made. You claimed the Fannie and Freddie were prevented by law from having mortgages with FICOs lower than 670. That's interesting given that the article *YOU LINKED TO*.... refers to Freddie Mac loans with FICO scores between 620 and 659.
So now, you are actually citing references that disprove YOUR OWN CLAIMS.
How dumb does a person have to be, to post an article that directly contradicts his own claims? Apparently Shitty dumb, is the level one needs to reach.
Go back to the data, and it shows how subprime was the cause of the housing bubble, not GSEs or the CRA loans.
Again, we've been over the data a hundred times, and you are just simply too stupid to grasp the implication of the data. You've posted your irrelevant facts over and over, and half the people on the forum have pointed out that it doesn't make your case, thus proving you simply are not bright of a person to get the argument. You have your head shoved so far up your own ideology, that you couldn't see reality, if someone beat you on the head with it.
You are just not intelligent enough to grasp what everyone else on this thread grasps. You just don't have the brain power to understand. It's sad, but some like you just can't be educated.