CRA had very little to do with the "housing bubble". The elimination of Glass-Steagall, however, had alot to do with it.
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occupy wall st will have the same effect as tahrir square
- Thread starter blu
- Start date
CRA had very little to do with the "housing bubble". The elimination of Glass-Steagall, however, had alot to do with it.
- Thread starter
- #82
how did the average home owner cause the real estate bubble? How did the average person now out of work cause the mass layoffs caused by criminal actions of wall st?
average home owners borrowed what they couldn't pay back.
How about banks were forced into lending to people by democrats and "community activists (Sharpton)" who had no intention to pay for their homes...
Community Reinvestment Act and the amendments made under Clinton are responsible for the housing bubble...
those counted for less than 15% of the houses that defaulted. A majority of the rest were people who lost their job due to wall st and criminal actions and then could no longer pay the mortage
stop listening to fox & AM radio so much
- Sep 15, 2008
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- Banned
- #83
average home owners borrowed what they couldn't pay back.
How about banks were forced into lending to people by democrats and "community activists (Sharpton)" who had no intention to pay for their homes...
Community Reinvestment Act and the amendments made under Clinton are responsible for the housing bubble...
CRA had very little to do with the "housing bubble". The elimination of Glass-Steagall, however, had alot to do with it.
that's correct.
- Thread starter
- #84
no. it's not all on Wall Street. I know you'd like it to be, but no...
who created the bubble in the housing market? who created the derivatives schemes based on mortgages and then fraudulently sold shitty securities as prime?
When the housing bubble popped and people needed credit, who stopped lending even though they were only solvent based on taxpayer bailout?
How long before you blame the Jews again?
nice deflection after getting beaten with logic
- Thread starter
- #85
average home owners borrowed what they couldn't pay back.
How about banks were forced into lending to people by democrats and "community activists (Sharpton)" who had no intention to pay for their homes...
Community Reinvestment Act and the amendments made under Clinton are responsible for the housing bubble...
CRA had very little to do with the "housing bubble". The elimination of Glass-Steagall, however, had alot to do with it.
but de-regulation fixes everything of course!
Business ceases to be "private" when:
A. It is bailed out by tax payer money.
B. It becomes to big to fail.
C. Tax payer money is funneled into the private coffers.
the same companies that were bailed out are now firing by the tens of thousands and keeping the profits
That makes those bailouts look doubly stupid, doesn't it?
They were "stupid" because they came with no strings attached.
- Thread starter
- #87
the same companies that were bailed out are now firing by the tens of thousands and keeping the profits
That makes those bailouts look doubly stupid, doesn't it?
They were "stupid" because they came with no strings attached.
but attaching strings to bailouts would have been communism!
- Sep 15, 2008
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- #88
who created the bubble in the housing market? who created the derivatives schemes based on mortgages and then fraudulently sold shitty securities as prime?
When the housing bubble popped and people needed credit, who stopped lending even though they were only solvent based on taxpayer bailout?
How long before you blame the Jews again?
nice deflection after getting beaten with logic
You didn't beat me at all, cum dumpster. What's the matter? Did you lose your copy of Mein Kampf again?
- Thread starter
- #89
How long before you blame the Jews again?
nice deflection after getting beaten with logic
You didn't beat me at all, cum dumpster. What's the matter? Did you lose your copy of Mein Kampf again?
more fallacy... going to answer my questions or what?
nope, the "average" can and did pay it back until wall st & speculators caused the value of their house to go from 200k to 50k overnight. At that point its asinine to pay back a mortgage on something that now costs more than its worth.
no. it's not all on Wall Street. I know you'd like it to be, but no...
who created the bubble in the housing market? who created the derivatives schemes based on mortgages and then fraudulently sold shitty securities as prime?
When the housing bubble popped and people needed credit, who stopped lending even though they were only solvent based on taxpayer bailout?
Who benefited from the false inflationary value of these homes, the surcharges and interest on the loans, the Property Taxes? Hmmm....
Who contributed to the driving rate of increase in these home sales, pushing for blind lending? Hmmm.....
no. it's not all on Wall Street. I know you'd like it to be, but no...
who created the bubble in the housing market? who created the derivatives schemes based on mortgages and then fraudulently sold shitty securities as prime?
When the housing bubble popped and people needed credit, who stopped lending even though they were only solvent based on taxpayer bailout?
How long before you blame the Jews again?
The Jew's killed Kenny!!! Bastards!!!
- Apr 1, 2011
- 169,983
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the same companies that were bailed out are now firing by the tens of thousands and keeping the profits
That makes those bailouts look doubly stupid, doesn't it?
They were "stupid" because they came with no strings attached.
Whatever. You should be whining about the politicians who voted for them, not the corporations who took them. Who wouldn't take free money with no strings attached?
- Sep 15, 2008
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- #93
nice deflection after getting beaten with logic
You didn't beat me at all, cum dumpster. What's the matter? Did you lose your copy of Mein Kampf again?
more fallacy... going to answer my questions or what?
haven't been any fallacies, numbnuts. The banks are the ones not lending money because it's in their best interest not to lend. You didn't use any logic. You just posted a bunch of horseshit that one might find on a conspiracy website.... You know, like the shit you post about the Jews "running everything"..... you loathsome shitstain.
You didn't beat me at all, cum dumpster. What's the matter? Did you lose your copy of Mein Kampf again?
more fallacy... going to answer my questions or what?
haven't been any fallacies, numbnuts. The banks are the ones not lending money because it's in their best interest not to lend. You didn't use any logic. You just posted a bunch of horseshit that one might find on a conspiracy website.... You know, like the shit you post about the Jews "running everything"..... you loathsome shitstain.
Like Fannie and Freddie are not setting up more bailouts.
That makes those bailouts look doubly stupid, doesn't it?
They were "stupid" because they came with no strings attached.
Whatever. You should be whining about the politicians who voted for them, not the corporations who took them. Who wouldn't take free money with no strings attached?
The same corporations that took them..are the same ones using their money to leverage power.
I suppose you missed the fact that Henry Paulson came out of Goldman.
- Sep 15, 2008
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- Banned
- #96
They were "stupid" because they came with no strings attached.
Whatever. You should be whining about the politicians who voted for them, not the corporations who took them. Who wouldn't take free money with no strings attached?
The same corporations that took them..are the same ones using their money to leverage power.
I suppose you missed the fact that Henry Paulson came out of Goldman.
Yeah that was a conflict of interest if I ever saw one.
Mr.Nick
VIP Member
- May 10, 2011
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average home owners borrowed what they couldn't pay back.
How about banks were forced into lending to people by democrats and "community activists (Sharpton)" who had no intention to pay for their homes...
Community Reinvestment Act and the amendments made under Clinton are responsible for the housing bubble...
CRA had very little to do with the "housing bubble". The elimination of Glass-Steagall, however, had alot to do with it.
Yeah forcing banks to lend to ANY minority or any low income individual had nothing to do with it??
Yeah, I'm also sure that those lazy pricks that got free homes had nothing to do with the financial collapse when they borrowed against their homes and got credit cards and racked up massive amounts of debt buying stupid shit that cant be repossessed (gas, pizza, shoes, alcohol, cigarettes etc).
You don't know what the fuck you're talking about..
Give a democrat an opportunity to rip someone off and they will take it... Democrats will give democrats an opportunity to rip people off in exchange for a vote..
Democrats are scum and the CRA amendments under Clinton only proves that...
Clinton only had a good economy because of the CRA amendments and greedy asshats who never intended on paying off their debts going on spending sprees buying whatever the fuck they wanted regardless if they could afford it or not - because to them all that credit, in which they would have been denied without forced lending was free money to these shit scum.
Why the fuck you think every time you turned on the TV in the late 90's and early to mid 2000's there was always a bankruptcy attorney promising "Ill get you out of your 100k debt for 10k"
News to the economically challenged, getting out of 100k in debt for 10k is bad for the economy - as a matter of fact the economy just lost 90k because someone paid 100k for 100k worth of product from manufacturing all the way up to retail sales.
Who the fuck you believe ate that debt you stupid motherfucker??? oh it was sold down the line until it hit the top and the banks collapsed..
So enjoy your free shit while EVERYONE even the financially responsible have to endure this misery of an economy........
Just remember we're fucked now because democrats wanted to force the banks to lend to poor people and they allowed them to buy whatever they wanted...
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Not if they shut down Wall Street.occupy wall st will have the same effect as tahrir square
I don't believe that.
Tempest in a teacup.
That's the thing about America...a lesson we learned during the anti-War period of Viet Nam
Citizens can put millions of people on the streets protesting, and our government will ignore them.
"The protests filling Tahrir Square have been composed of anywhere from tens of thousands to two million people, according to news accounts. The difference between the low and high estimates ranges from a small fraction of Cairo's population to about one-fifth of the total."
If one in five New Yorkers decide Wall Street is the problem...?
Sizing Up Crowds in Egypt Pushes Limits of Technology - WSJ.com
Mr.Nick
VIP Member
- May 10, 2011
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You didn't beat me at all, cum dumpster. What's the matter? Did you lose your copy of Mein Kampf again?
more fallacy... going to answer my questions or what?
haven't been any fallacies, numbnuts. The banks are the ones not lending money because it's in their best interest not to lend. You didn't use any logic. You just posted a bunch of horseshit that one might find on a conspiracy website.... You know, like the shit you post about the Jews "running everything"..... you loathsome shitstain.
Of course they wont lend money... The government forced them to lend once and they were burned..
You better have impeccable and established credit to get credit from a bank otherwise you will get nothing....
Hell if you want a credit card then go buy a $2,000 used piece of shit vehicle from a car lot for $7,000 on credit over a few years..... Then if you make your payments you MAY be allowed a credit card...
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Dragon
Senior Member
- Sep 16, 2011
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Whatever. You should be whining about the politicians who voted for them, not the corporations who took them.
The corporations who took them also pulled the strings of the politicians who voted for them, which is why they voted for them in the first place.
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