#OWS Signs

[Stephanie]

It's incumbent upon the lender to determine if an applicant is qualified for a loan.

It's incumbent upon THE PERSON to know if THEY CAN AFFORD a mortgage. I can't so guess what, I RENT.

These people should put the blame where it SHOULD BE. on themselves.

Yeah! Fuck People!

no thanks, but you can if you want.

 

[Synthaholic]

If this was such an issue why did the entirely republican government not fix it when they had the chance????????

 

[Liability]

There were no government policies that made it imperative for banks to approve credit for the otherwise un-creditworthy.

Bullshit:

" This argument is made by the same ACORN-style socialists (like Barack Obama) who argue that bankers are greedy, money-grubbing capitalist pigs. In reality, business people do not have to be forced by the Fed to make money. The fact that force or the threat of force is used by the Fed and its ACORN allies is proof that the loans that are being made are bad loans to unqualified borrowers. During the Fed-induced housing bubble, thousands of CRA sub-prime loans for $300,000—$400,000 houses were made to high school dropouts on welfare or in jobs paying barely more than minimum wage. The Fed — and many other agencies of the federal government — was essentially telling these low-income and minority borrowers the following: "Yes, traditionally, people who own homes do so by working at a job, sticking with it, saving their money, and avoiding excessively extravagant spending on cars, vacations, etc., until they can afford a home. Forget about that! The hell with financial responsibility! We will fix things for you so that you can be fiscally irresponsible and get a home. And the housing bubble inflation we have created will even potentially make you rich! This way, we will share the wealth! Just like the ACORN People's Platform says!"

When Forbes magazine columnists Peter Brimelow and Leslie Spencer interrogated Boston Fed official Alicia Munnell about the Fed's claims of systemic lending discrimination in the early 1990s, Munnell was forced to admit that she had no evidence of it. She and other Fed officials (and the Clinton administration) continued to step up CRA enforcement anyway. This suggests that the goal has always been a forced redistribution of wealth through Fed banking regulation. Charges of systemic discrimination have been used as a ruse to intimidate any un-cooperating mortgage lenders (Not that stupid and self-destructive bankers who discriminate on the basis of race do not exist.)"


Fed-ACORN Criminality by Thomas DiLorenzo

.

Another idiot Rushbot that has no critical thinking skills.

Poor people did not cause the financial meltdown. The banks did buy slicing and dicing mortgages and selling them as an investment opportunity.

Blaming the poor would be silly.

They were the beneficiaries, however, of very bad "policy."

You are absolutely right in assigning blame to the banks. They were largely a bunch of greedy fucks in crafting those Mortgage Backed Securities, etc. The more complex and esoteric the shit they cobbled together, the worse it got. Especially when the ratings companies gave sterling ratings to "securities" backed largely by the sub-prime junk.

When the beneficiaries of that bad policy then (as was readily predictable and by some shrewd investors, quite astutely predicted) defaulted in those loans, the house of cards collapsed.

But the bad policies that led to the unqualified GETTING loans to "own" their homes (homes which they simply could not afford to buy) was linked to similar bad policies that made it urgent for the banks, etc., to make such piss poor business judgments.

Lousy governmental policies based on wishful liberal thinking COUPLED with irrational corporate greed. It's a very bad recipe. But neither component alone sufficed for the damage. It took the synergy of both combined (with other factors, too, of course).

I wont excuse the irrational outright greed of the financial houses, but then again, I will not excuse the responsibility that the government deserves. Liberal wishful thinking is no way to govern.

 

[Ravi]

There were no government policies that made it imperative for banks to approve credit for the otherwise un-creditworthy.

No, they left that to the Unions who used blackmail (by organizing sit ins), racism (by threatening to ruin a banks reputation with unfounded allegations of racism), and good old fashioned intimidation.... with the help of Congress.

Credit where it's due. The politicians are as guilty as any bank.

where are your links?

In her head. On Rush's program. In the rightwingloon blogs.

In other words, a fantasy.

 

[Rocko]

Or

"The loan officer should have done his homework and checked my situation more carefully and found that I really couldn't afford the property based on my income and other obligations and turned me down."

Lol it wasn't because loan officers didn't do homework, its because government involvement cause decline in lending standards, and because people didn't learn what a variable rate is before they bought houses....it wasn't country wide's responsibility to explain how your interest rates can go up.

 

[Stephanie]

If this was such an issue why did the entirely republican government not fix it when they had the chance????????

why hasn't your party?

 

[B. Kidd]

If this was such an issue why did the entirely republican government not fix it when they had the chance????????

why hasn't your party?

An essential question.
Ever think that both parties are not the best that money can buy?
Oh, and not bought by the sheeples' money, you and I included.

 

[Sunshine]

Those OWS people make me think of the little retarded girl who went around all day saying, 'I want sumpin.' She didn't know WHAT she wanted. She just wanted.

 

[Sunshine]

If this was such an issue why did the entirely republican government not fix it when they had the chance????????

why hasn't your party?

An essential question.
Ever think that both parties are not the best that money can buy?
Oh, and not bought by the sheeples' money, you and I included.

Somebody's money buys them BOTH. Apparently it isn't yours.

 

[Mr Natural]

Or

"The loan officer should have done his homework and checked my situation more carefully and found that I really couldn't afford the property based on my income and other obligations and turned me down."

Lol it wasn't because loan officers didn't do homework, its because government involvement cause decline in lending standards, and because people didn't learn what a variable rate is before they bought houses....it wasn't country wide's responsibility to explain how your interest rates can go up.

It sure as hell is.

 

[ClosedCaption]

Those OWS people make me think of the little retarded girl who went around all day saying, 'I want sumpin.' She didn't know WHAT she wanted. She just wanted.

Yeah because that sign was so vague, wasn't it? /s

 

[Meister]

Or

"The loan officer should have done his homework and checked my situation more carefully and found that I really couldn't afford the property based on my income and other obligations and turned me down."

Lol it wasn't because loan officers didn't do homework, its because government involvement cause decline in lending standards, and because people didn't learn what a variable rate is before they bought houses....it wasn't country wide's responsibility to explain how your interest rates can go up.

It sure as hell is.

Isn't knowing what an ARM is, the responsibilty of the lendee?
Come on......

 

[B. Kidd]

why hasn't your party?

An essential question.
Ever think that both parties are not the best that money can buy?
Oh, and not bought by the sheeples' money, you and I included.

Somebody's money buys them BOTH. Apparently it isn't yours.

That was my point SS!
It isn't Stephanie's, yours, or my money (or lack of!) that could buy either of them.
If you can guess whose money buys both parties, I'll FedEX you a purple Gumby.

 

[B. Kidd]

Those OWS people make me think of the little retarded girl who went around all day saying, 'I want sumpin.' She didn't know WHAT she wanted. She just wanted.

Post your IQ.
Then we will decide.

 

[California Girl]

There were no government policies that made it imperative for banks to approve credit for the otherwise un-creditworthy.

No, they left that to the Unions who used blackmail (by organizing sit ins), racism (by threatening to ruin a banks reputation with unfounded allegations of racism), and good old fashioned intimidation.... with the help of Congress.

Credit where it's due. The politicians are as guilty as any bank.

where are your links?

We've been through this shit before... and I provided links... and I don't spoon feed people - I certainly don't do it more than once. Bush tried from 2003 to regulate Fanny & Freddie and the fucking Democrats stopped him. Bush spoke out about the need to rein in the banks several times... and each time, it was the Democrats who decried him. I disliked Bush as President, but he actually tried to do something and you fucking idiots blocked it... along with some of his own damned GOPers.

You people (and by 'you people', I mean fucking idiots who put party over country) are responsible for this clusterfuck, and instead of being honest about it, you continue to lie and blame someone else.

That's why I don't vote for either party. Both sides make me cringe.

 

[Mustang]

Those OWS people make me think of the little retarded girl who went around all day saying, 'I want sumpin.' She didn't know WHAT she wanted. She just wanted.

Did you mock her too?

 

[Sunshine]

Those OWS people make me think of the little retarded girl who went around all day saying, 'I want sumpin.' She didn't know WHAT she wanted. She just wanted.

Did you mock her too?

Are they retarded?

 

[Sunshine]

An essential question.
Ever think that both parties are not the best that money can buy?
Oh, and not bought by the sheeples' money, you and I included.

Somebody's money buys them BOTH. Apparently it isn't yours.

That was my point SS!
It isn't Stephanie's, yours, or my money (or lack of!) that could buy either of them.
If you can guess whose money buys both parties, I'll FedEX you a purple Gumby.

I don't have to guess. I know. PACs. Now send me that Gumby. Dumby.

 

[Mr Natural]

Lol it wasn't because loan officers didn't do homework, its because government involvement cause decline in lending standards, and because people didn't learn what a variable rate is before they bought houses....it wasn't country wide's responsibility to explain how your interest rates can go up.

It sure as hell is.

Isn't knowing what an ARM is, the responsibilty of the lendee?
Come on......

Yes, they should probably know what an ARM is but it's still up to the lender (and in his best interest) to explain in detail how it's going to work.

 

[Mustang]

It sure as hell is.

Isn't knowing what an ARM is, the responsibilty of the lendee?
Come on......

Yes, they should probably know what an ARM is but it's still up to the lender (and in his best interest) to explain in detail how it's going to work.

If you support those kind of gov't regulations, you must want to hurt the job creators. That means you're antiAmerican.