Politically speaking, the truth about the credit bubble

[JRK]

Its another Liberal lie that keeps being repeated

Two simple events took place
interest rates went up
real estate values plummeted

NO politician had anything to do with either
the fed and a surplus of real estate opportunities

 

[American Horse]

You're letting the people off the hook who resisted any change to pushing mortgage on those who had virtually no creditworthiness; viz the CRA and F&F

It was the most prediictable financial crisis ever to come out of a credit bubble.

 

[JRK]

You're letting the people off the hook who resisted any change to pushing mortgage on those who had virtually no creditworthiness; viz the CRA and F&F

It was the most prediictable financial crisis ever to come out of a credit bubble.

without real estate pricing plummeting
that, that event that had nothing to do with Bankers and Consumers making bad decisions
Had nothing to do with it

I cannot find any legislation that states if a person is making 30k a year you are mandated to give that person a 200,000.00 mortgage either

It was a credit bubble that has as much to do with good people going up-side down on there financial investments

I guess I see those stupid choices from the banker to the consumer is the people I see on the hook as the problem as it was created
Still
If real estate values remained good, none of this occurs

 

[Truthmatters]

so you got caught with facts in your fucking lies in the other thread and start a new one instead of facing your lies?

 

[Truthmatters]

what are mortage backed securities?

do you even know?

 

[Truthmatters]

The right keeps doing this thing where they just run away or flat out lie in the face of facts.

They think it somehow wins them something.

What it does is build your world on a shakey base fo stupid assed lies.

Pretty soon your entire foundation is nothing but lies.

you are there now my friends and its why your party is dying

 

[Truthmatters]

http://www.usmessageboard.com/polit...-the-democratic-party-worse-than-any-one.html

these threads should be merged

 

[JRK]

http://www.usmessageboard.com/polit...-the-democratic-party-worse-than-any-one.html

these threads should be merged

Good God would you chill out
what does the dem party failing those who voted for them have to do with the credit bubble?
My god has any-one ever told you your have an obsession problem?
What does a Mortgage back security have to do with the pricing of real estate plummeting?
If any-thing it is the other way around

Look TM, CHILL OUT

 

[Truthmatters]

why do you never admitt your mistakes and LIE in the face of facts?

Tell us everything you know about mortgage backed securities and the securities brokers who sell them.

 

[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.

 

[Truthmatters]

Only an idiot con would believe you OP assertions

 

[Truthmatters]

Sad thing is I told you these facts quite some time ago

 

[Truthmatters]

JRK
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Posting Message - Please Wait Showing Visitor Messages 1 to 7 of 7 Today 08:01 AM - permalinkTruthmatters
Not going to answer your own thread anymore?
View Conversation Edit Report Today 07:55 AM - permalinkTruthmatters
You dont even know what gram leach is
View Conversation Edit Report 09-20-2011 01:22 PM - permalinkTruthmatters
BBC NEWS | Americas | Bush administration on Iraq 9/11 link
View Conversation Edit Report 07-09-2011 01:05 PM - permalinkTruthmatters
"A customer should be able to walk into a financial institution and get any financial product he or she needs — securities, insurance, banking or trust services,"







A Broker would know what was in the securities they sold and would not like to have his or her reputation tarnished by selling crap that backfired in a couple of years.

Allowing the banks to pick, train and direct the "brokers" allowed them to pick any smuck and train them the way they wanted them trained and teach them only enough to sell the crap without telling them enough to know that what they were selling was crap.


The banks made money off the sub primes they wrote. They rolled them into securities and sold them to buyers.

The Broker rules were put in place under glass steagal, so they could not do that.

Press Release: SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers; 2007-190; Sept. 19, 2007
View Conversation Edit Report 06-03-2011 08:56 AM - permalinkTruthmatters
Press Release: Agencies Adopt Final Rules to Implement the Bank 'Broker' Provisions of the Gramm-Leach-Bliley Act; 2007-198; Sept. 24, 2007

dont go arround pretending you dont know these facts now
View Conversation Edit Report 05-21-2011 10:30 AM - permalinkTruthmatters
http://www.usmessageboard.com/politi...ml#post3666364


heres your answer

 

[American Horse]

You're letting the people off the hook who resisted any change to pushing mortgage on those who had virtually no creditworthiness; viz the CRA and F&F

It was the most prediictable financial crisis ever to come out of a credit bubble.

without real estate pricing plummeting
that, that event that had nothing to do with Bankers and Consumers making bad decisions
Had nothing to do with it

I cannot find any legislation that states if a person is making 30k a year you are mandated to give that person a 200,000.00 mortgage either

It was a credit bubble that has as much to do with good people going up-side down on there financial investments

I guess I see those stupid choices from the banker to the consumer is the people I see on the hook as the problem as it was created
Still
If real estate values remained good, none of this occurs

Sorry JRK, but this has been hashed and rehashed ad infinitum on this board, and very well with plenty of documentation.
Do a search wouldja.

 

[Truthmatters]

and nearly a year later here you are lying about it yet again.

 

[JRK]

Only an idiot con would believe you OP assertions

What assertion is that?
that if real estate values remained at normal levels that we have no credit crises?
what an idiot thing to think

TM I look at every event in life in a root cause analysis
it takes out the spin
its called the 5 whys

5 Whys - Wikipedia, the free encyclopedia

 

[Truthmatters]

why do you refuse to tell us all you know about mortgage backed securities?

 

[Truthmatters]

Its another Liberal lie that keeps being repeated

Two simple events took place
interest rates went up
real estate values plummeted

NO politician had anything to do with either
the fed and a surplus of real estate opportunities

mortgage backed securities had nothing to do with mortgages?


REALLY?

 

[Truthmatters]

maybe you can get that lying piece of crap meister to join you in your stupidity here too

 

[JRK]

Its another Liberal lie that keeps being repeated

Two simple events took place
interest rates went up
real estate values plummeted

NO politician had anything to do with either
the fed and a surplus of real estate opportunities

mortgage backed securities had nothing to do with mortgages?


REALLY?

Who said that?
and what does Freddie and Fannie have to do with un paid loans, real estate glut and the plummet of real estate value
Do you have any idea how many empty homes there are sitting in Florida? This was in its purest form a credit bubble that exploded
those houses and the wealth it took to construct these developments are as much as the problem as the housing market as well as the collapse in the stock market/AIG as those mortgages were bundled and re-sold
You never make you claim that ties it to any of these events

You keep talking about the govt causing an event that began on the private sector. all they did was take the information as it was given to them and go from there

At no point did any govt official make legislation that stated loan some schmuck more money than they can pay back

How do you prevent these events? Lying to the bank the lying to Freddie is against the law TM