Reagan/Bush & Bush/Cheney fraudulent home loan schemes strike fear in voters for real

[merrill]

Guidelines for buying homes has been around for several decades:
*10%-20% down
* Gainfully employed
* loans were not more than twice the income
* credit history examined
* Employee status verified as well as income
* credit score meets demand
* 30-45 days minimum closing period
* Fraud will not be considered to move the process forward

Perhaps there has not been a need for more regulations.

Regulations for home loans are probably fine. Just not enforced enough. Regulations for derivatives, however, are severely lacking. And it was derivatives which were the cause of the global credit crisis.

Ditto ditto

 

[Soggy in NOLA]

Guidelines for buying homes has been around for several decades:
*10%-20% down
* Gainfully employed
* loans were not more than twice the income
* credit history examined
* Employee status verified as well as income
* credit score meets demand
* 30-45 days minimum closing period
* Fraud will not be considered to move the process forward

Perhaps there has not been a need for more regulations.

Regulations for home loans are probably fine. Just not enforced enough. Regulations for derivatives, however, are severely lacking. And it was derivatives which were the cause of the global credit crisis.

That's like saying drug use is the real problem, not the appetite for drugs.

 

[g5000]

Funny how you leave out Carter and Clinton, the one's respectively who established the CRA and put the screws to banks to make the loans under provisions of the CRA....

FAIL.

Please explain how the CRA brought down Bear Stearns, Lehman Brothers, or AIG.

None of them were subject to the CRA. In fact, these institutions had their own mortgage loan broker supply chains in order to ensure the supply of loans they needed to stuff into their CDOs were not interrupted.

When asked by an idiot in Congress how much the CRA had to do with his company imploding, Dick Fuld disappointed the jackass by replying, "De minimus."

Please show us one Wall Street CEO who backs up this CRA meme bullshit. These guys have given every excuse for their tremendous fuckup, but NOT ONE has ever tried to pin it on the CRA. Because only an idiot who knows nothing about a credit crisis which was GLOBAL believes it was because of too many loans to negroes. Christ, you can hear them laughing all the way in Iceland at that one.

Loans to Negroes? I don't know nothing about all that.

I love it. Blame the CRA and then proclaim ignorance when called out on the subtext being about loans to blacks.

The CRA meme is a racial one. No one is fooled.

 

[g5000]

Guidelines for buying homes has been around for several decades:
*10%-20% down
* Gainfully employed
* loans were not more than twice the income
* credit history examined
* Employee status verified as well as income
* credit score meets demand
* 30-45 days minimum closing period
* Fraud will not be considered to move the process forward

Perhaps there has not been a need for more regulations.

Regulations for home loans are probably fine. Just not enforced enough. Regulations for derivatives, however, are severely lacking. And it was derivatives which were the cause of the global credit crisis.

That's like saying drug use is the real problem, not the appetite for drugs.

If it was only bad loans, the crisis would have been far, far shallower. Loans were only the first square on a very large board.

Deritatives are a risk multiplier of the thermonuclear variety.

 

[Soggy in NOLA]

Please explain how the CRA brought down Bear Stearns, Lehman Brothers, or AIG.

None of them were subject to the CRA. In fact, these institutions had their own mortgage loan broker supply chains in order to ensure the supply of loans they needed to stuff into their CDOs were not interrupted.

When asked by an idiot in Congress how much the CRA had to do with his company imploding, Dick Fuld disappointed the jackass by replying, "De minimus."

Please show us one Wall Street CEO who backs up this CRA meme bullshit. These guys have given every excuse for their tremendous fuckup, but NOT ONE has ever tried to pin it on the CRA. Because only an idiot who knows nothing about a credit crisis which was GLOBAL believes it was because of too many loans to negroes. Christ, you can hear them laughing all the way in Iceland at that one.

Loans to Negroes? I don't know nothing about all that.

I love it. Blame the CRA and then proclaim ignorance when called out on the subtext being about loans to blacks.

The CRA meme is a racial one. No one is fooled.

No, no it's not. Subprime loans went out to all kinds of people... white, black and otherwise. It isn't a racial issue.

 

[Soggy in NOLA]

Regulations for home loans are probably fine. Just not enforced enough. Regulations for derivatives, however, are severely lacking. And it was derivatives which were the cause of the global credit crisis.

That's like saying drug use is the real problem, not the appetite for drugs.

If it was only bad loans, the crisis would have been far, far shallower. Loans were only the first square on a very large board.

Deritatives are a risk multiplier of the thermonuclear variety.

Oh, of course... but what was the catalyst for the derivatives?

 

[California Girl]

Guidelines for buying homes has been around for several decades:
*10%-20% down
* Gainfully employed
* loans were not more than twice the income
* credit history examined
* Employee status verified as well as income
* credit score meets demand
* 30-45 days minimum closing period
* Fraud will not be considered to move the process forward

Perhaps there has not been a need for more regulations.

Regulations for home loans are probably fine. Just not enforced enough. Regulations for derivatives, however, are severely lacking. And it was derivatives which were the cause of the global credit crisis.

You really, really need to use ALL the pieces of the jigsaw and not just the ones that suit your political view. But, naturally, that would require an understanding not just of the financial situation in the US, but around the world.

The root cause of the global crisis was a massive global economic imbalance. Countries such as the US producing too little and consuming too much, and countries such as China producing too much and consuming too little. Without that fundamental global disparity, the crisis would not have happened.

You cannot blame one country, and you cannot fix it without global regulation.

 

[Decepticon]

Funny how you leave out Carter and Clinton, the one's respectively who established the CRA and put the screws to banks to make the loans under provisions of the CRA....

FAIL.

What were the penalties for non-compliance with the CRA? Oh, that's right NOTHING. NOTHING could be done to banks that refused to act in accordance with the CRA. NOTHING...ZERO PENALTIES. SO HOW exactly did they "put the screws to the banks" to make loans "under pressure"???
Looked at them in a mean way? Stuck out their tongues?

What does "consistent with sound business practices" sound like to you? Because that was in the Community Reinvestment Act instructing bankers to not just give loans to whomever?

That you bring this up, shows that you are WOEFULLY ignorant on this matter and should not be taken seriously. You are clown shoes.

 

[merrill]

Selling those bundles of risky loans to any institution that would pay in the name of the USA was a crappy business plan...

And those bundles sent the world economy down the tubes.

Why would any financial institutions risk buying mortgages from the USA ever again?

Sort of explains why Reagan/Bush & Bush/Cheney fraudulent home loan schemes strike fear in voters for real.

 

[merrill]

These fraudulent financial activities sponsored by the repub party are simply anti american.

Putting millions upon millions upon millions out of work then refusing to put these people back to work is definitely a demonstration that the repub party is anti american!


Because it has become an established standard operating procedure(SOP). This pattern spells RINO dominated behind the scenes agenda. Can this be documented?

Of course:

* Bailing out The Reagan/Bush Savings and Loan Heist aka home loan scandal sent the economy out the window costing taxpayers many many $$ trillions (Cost taxpayers $1.4 trillion), Plus millions of jobs, loss of retirement plans and loss of medical insurance.
The Bush family and the S&L (Savings and Loan) Scandal

* Bailing out the Bush/Cheney Home Loan Wall Street Bank Fraud cost consumers $ trillions, millions of jobs, loss of retirement plans and loss of medical insurance. Exactly like the Reagan/Bush home loan scam. Déjà vu can we say. Yep seems to be a pattern.
What is the difference between a Ponzi scheme and a housing bubble? | Dollars & Sense

* Bush/Cheney implied more than ONLY 3 financial institutions instead of several were at risk so why $700 billion in bail out money? One of the biggest lies perpetrated to American citizens. Where did this money go? Why were some banks forced to take bail out money?
"Good Billions After Bad" - One Year After Wall Street Bailout, Pulitzer Winners Barlett and Steele Investigate Where All the Money Went


In the end big debt and super duper bailouts were the results which does not seem to bother Republicans, as long as they are in power.

 

[merrill]

The fraud schemes are obviously part of the republican agenda which is documented...

 

[Soggy in NOLA]

Because it has become an established standard operating procedure(SOP). This pattern spells RINO dominated behind the scenes agenda. Can this be documented?

Of course:

* Bailing out The Reagan/Bush Savings and Loan Heist aka home loan scandal sent the economy out the window costing taxpayers many many $$ trillions (Cost taxpayers $1.4 trillion), Plus millions of jobs, loss of retirement plans and loss of medical insurance.
The Bush family and the S&L (Savings and Loan) Scandal

* Bailing out the Bush/Cheney Home Loan Wall Street Bank Fraud cost consumers $ trillions, millions of jobs, loss of retirement plans and loss of medical insurance. Exactly like the Reagan/Bush home loan scam. Déjà vu can we say. Yep seems to be a pattern.
What is the difference between a Ponzi scheme and a housing bubble? | Dollars & Sense

* Bush/Cheney implied more than ONLY 3 financial institutions instead of several were at risk so why $700 billion in bail out money? One of the biggest lies perpetrated to American citizens. Where did this money go? Why were some banks forced to take bail out money?
"Good Billions After Bad" - One Year After Wall Street Bailout, Pulitzer Winners Barlett and Steele Investigate Where All the Money Went


In the end big debt and super duper bailouts were the results which does not seem to bother Republicans, as long as they are in power.

Fifth dumbfuck, class-envy thread for the day!!!!!


YAY!!!!!!!!

 

[merrill]

The RINO dominated party is now passing off crime as a matter of envy?

Yes I've noticed of late that the word "envy" is coming up a lot as a means of intimidation.

Offensive intimidation is not a working tool that impacts this camp thank you.

Meanwhile...

This is what the RINO dominated repub party declares as "executive experience":

Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. After federal regulators closed the S&L, the office building that Jeb used the $4.56 million to finance was reappraised by the regulators at $500,000, which Bush and his partners paid. The taxpayers had to pay back the remaining 4 million plus dollars.

The Bush family and the S&L (Savings and Loan) Scandal

 

[merrill]

Here's the deal.

RINO's receive a list of ways to intimidate thinkers designating which words and/or phrases.

Now among the latest is "Class Envy".

Or Get a Job or liberals are against capitalism or simply yelling obscenities at posters.

Yet it is their party that commits fraud at ever given opportunity. This begs the question
of when are the criminals going to jail?