Rethuglacains and the housing crisis

[OohPooPahDoo]

Stopping the practice of forcing lenders to lend mortgages to people known not to pay their bills would be a start.

That practice doesn't exist nor has it ever.

It was the very heart of the Community Reinvestment Act.

Not it isn't. The CRA has absolutely nothing to do with forcing banks to lend to people with bad credit.

 

[OohPooPahDoo]

Stopping the practice of forcing lenders to lend mortgages to people known not to pay their bills would be a start.

it's affirmative action lending that got us into that situation

thanks liberals

So lending to black people is what caused the housing market to collapse.

Got it dude. Well done. You've demonstrated your complete fear of blacks.

 

[OohPooPahDoo]

Inane people telling themselves they aren't insane....

Not all inane people are insane dude. Most aren't.

 

[naturegirl]

Not to many conservatives talking on this debate!

reminds me a lot of mittens speech last night!

Not much of a debate if the other person is only interested in slinging crap that decides name calling and acting like a silly teenager is acceptable.

I don't think you'll find a lot of support or interaction around here when you're only interested in acting like a spoiled brat.

 

[OohPooPahDoo]

Listen mentally challenged one:
(1) Look up the Community Reinvestment Act - See the part Clinton, Dodds and Frank had in reviving a Carter Error plan and pushing it on the banks. It's the main culprit in the meltdown.

No it isn't. The CRA didn't apply to Goldman Sachs. Didn't apply to Lehman. Didn't apply to any of the big investment banks.

(2) Who gave Freddie and Fannie the power to create a secondary mortgage market?

Freddie and Fannie did not "create" the secondary mortgage market, it existed before them.

See Frank, Dodd and Clinton.

Fannie and Freddie have had the authority to participate in the secondary mortgage market since their inceptions. In fact, that's their main purpose. Fannie Mae was created in 1968. Your suggestion that Clinton, Frank, and Dodd "gave Freddie and Fannie the power to create a secondary mortgage market" is frankly just retarded.

 

[Defiant1]

Buying a house is an investment.

Investments have risks, they aren't guaranteed.

The housing market is like any other market, it goes up, it goes down.

If one doesn't want to put their money at risk, then rent.

I bet most of the people complaining about the market price of their house are buying lottery tickets every week.

 

[OohPooPahDoo]

Buying a house is an investment.

Investments have risks, they aren't guaranteed.

The housing market is like any other market, it goes up, it goes down.

If one doesn't want to put their money at risk, then rent.

I bet most of the people complaining about the market price of their house are buying lottery tickets every week.

The problem isn't the market price per se, its being trapped in your mortgage in a down economy and hence unable to move to find work.