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Look, what financial institutions did with Fannie and Freddie mortgage securities contributed to the depth of the credit crisis, but the root is in congress and the Democrat's support of grass-roots organizations like ACORN that used CRA regulations to intimidate banks into making bad loans they would not have normally made. They were between a rock and a hard place in giving the loans, but Freddie and Fannie made them relatively trouble-free by purchasing them. Warning bells were going off about this in the late 90's, but the Democrats in congress refused to allow action out of the oversight committees, seeing this as wedge issue to get and keep the poor's vote, and use it as a demagogic hammer to nail Republicans as racist and not caring about the poor. ACORN and other groups went as far as occupying bank's offices and intimidating management ala Jessie Jackson type shakedowns. This has continued throughout the 00's with Democrats like Barney Frank and Chris Dodd leading the way. Republicans can take some blame for being cowards, but let's face it - when Democrats use demagogic race baiting to defend an issue, knowing the media will back them, Republicans can do very little on their own, even with a majority.I didn't say the Democrats were guilt-free.
I never said Bush was solely responsible, and yet here you are in this thread agreeing with some dope that says it's all the fault of the Dems. If you weren't so stupid it'd be funny but it is really just pathetic.there are faults on BOTH side of the political aisles
but you guys want to blame just ONE MAN
DAMN that Bush
did you stub your toe again ravi?
not quiteLook, what financial institutions did with Fannie and Freddie mortgage securities contributed to the depth of the credit crisis, but the root is in congress and the Democrat's support of grass-roots organizations like ACORN that used CRA regulations to intimidate banks into making bad loans they would not have normally made. They were between a rock and a hard place in giving the loans, but Freddie and Fannie made them relatively trouble-free by purchasing them. Warning bells were going off about this in the late 90's, but the Democrats in congress refused to allow action out of the oversight committees, seeing this as wedge issue to get and keep the poor's vote, and use it as a demagogic hammer to nail Republicans as racist and not caring about the poor. ACORN and other groups went as far as occupying bank's offices and intimidating management ala Jessie Jackson type shakedowns. This has continued throughout the 00's with Democrats like Barney Frank and Chris Dodd leading the way. Republicans can take some blame for being cowards, but let's face it - when Democrats use demagogic race baiting to defend an issue, knowing the media will back them, Republicans can do very little on their own, even with a majority.
And I will ask again: If any Republican could be shown to have been at fault in this you can be sure the Democrats would be crucifying him with congressional investigations right now. So why are there no Republicans being investigated?
Answer: Because there are no Republicans directly at fault here. The blame for this credit crisis lays squarely at Democrat's feet...
yeah sure you dumb fuck, i'm only blaming the demsI never said Bush was solely responsible, and yet here you are in this thread agreeing with some dope that says it's all the fault of the Dems. If you weren't so stupid it'd be funny but it is really just pathetic.
i knew someone did but until now, i didn't know who. thanks for clearing up that little mystery for me. are you the same guy that watches o'reilly, or is that someone else?
So you are saying that the Republican legislation that did away with mortgage down payments for people that couldn't come up with them intimidated banks into making bad loans? Interesting theory.Look, what financial institutions did with Fannie and Freddie mortgage securities contributed to the depth of the credit crisis, but the root is in congress and the Democrat's support of grass-roots organizations like ACORN that used CRA regulations to intimidate banks into making bad loans they would not have normally made. They were between a rock and a hard place in giving the loans, but Freddie and Fannie made them relatively trouble-free by purchasing them. Warning bells were going off about this in the late 90's, but the Democrats in congress refused to allow action out of the oversight committees, seeing this as wedge issue to get and keep the poor's vote, and use it as a demagogic hammer to nail Republicans as racist and not caring about the poor. ACORN and other groups went as far as occupying bank's offices and intimidating management ala Jessie Jackson type shakedowns. This has continued throughout the 00's with Democrats like Barney Frank and Chris Dodd leading the way. Republicans can take some blame for being cowards, but let's face it - when Democrats use demagogic race baiting to defend an issue, knowing the media will back them, Republicans can do very little on their own, even with a majority.
And I will ask again: If any Republican could be shown to have been at fault in this you can be sure the Democrats would be crucifying him with congressional investigations right now. So why are there no Republicans being investigated?
Answer: Because there are no Republicans directly at fault here. The blame for this credit crisis lays squarely at Democrat's feet...
Ass, you're the one that jumped in and agreed with the dope that placed the blame on the Dems. My post obviously changed your mind but you are too much of a wus to admit it. And a post hours later about dual responsibility is just your effort to save face.yeah sure you dumb fuck, i'm only blaming the dems
oops, what was the last posts of mine in this thread
you show over and over how fucking STUPID you are
oh keep lying bitchAss, you're the one that jumped in and agreed with the dope that placed the blame on the Dems. My post obviously changed your mind but you are too much of a wus to admit it. And a post hours later about dual responsibility is just your effort to save face.
you betcha- you're the one listening to him; i'll take you at your word.
Unless you go back and edit your posts your stupidity is on display for all to see.oh keep lying bitch
no, you stupid fuck, my posts on this topic have been consistantUnless you go back and edit your posts your stupidity is on display for all to see.
Poor crybaby.
no, you stupid fuck, my posts on this topic have been consistant
you are just too much of a fucking moron to understand that supporting someone that said the dems were at fault is NOT saying the GOP wasnt also
they BOTH were and are
take off your partisan blinders for a change
It was not Republican legislation. The CRA was created by the Carter administration in 1977 and expanded by Clinton in 1995 using the Housing and Urban Development department and bypassing congress.So you are saying that the Republican legislation that did away with mortgage down payments for people that couldn't come up with them intimidated banks into making bad loans? Interesting theory.
and who controled the congress in 1995?It was not Republican legislation. The CRA was created by the Carter administration in 1977 and expanded by Clinton in 1995 using the Housing and Urban Development department and bypassing congress.
as if you could see beyond partisanship yourselfExcept Gord placed no blame on the republicans, and said Democrats are completely at fault in the matter. Too bad you got caught cheerleading for the wrong partisan
You don't read too well do you?and who controled the congress in 1995?
yes i doYou don't read too well do you?
Look, what financial institutions did with Fannie and Freddie mortgage securities contributed to the depth of the credit crisis, but the root is in congress and the Democrat's support of grass-roots organizations like ACORN that used CRA regulations to intimidate banks into making bad loans they would not have normally made. They were between a rock and a hard place in giving the loans, but Freddie and Fannie made them relatively trouble-free by purchasing them. Warning bells were going off about this in the late 90's, but the Democrats in congress refused to allow action out of the oversight committees, seeing this as wedge issue to get and keep the poor's vote, and use it as a demagogic hammer to nail Republicans as racist and not caring about the poor. ACORN and other groups went as far as occupying bank's offices and intimidating management ala Jessie Jackson type shakedowns. This has continued throughout the 00's with Democrats like Barney Frank and Chris Dodd leading the way. Republicans can take some blame for being cowards, but let's face it - when Democrats use demagogic race baiting to defend an issue, knowing the media will back them, Republicans can do very little on their own, even with a majority.
Fannie Mae and Freddie Mac are two government agencies who created, and remain highly involved in, the secondary market for mortgage-backed securities. They now own or guarantee about $1.4 trillion, or 40%, of all U.S. mortgages, with $168 billion in subprime mortgages.
The residential mortgage market in 2006 was $10 trillion, representing one-quarter of the total debt market in the U.S. Over the past few years, the $1.5 trillion subprime mortgage market has experienced exponential growth. According to Inside Mortgage Finance Publications, subprime mortgages accounted for over 20% of all mortgage originations in 2006, up from 6% in 2002; the AIt-A mortgage market alone grew from $85 billion in 2003 to $400 billion in 2006.