stimulating housing demand will cure the economy

[Ernie S.]

ah they stick top the "your a poopy pants" aregument as apposed to axtually talking like adults about policy.


that is because if you are forced to talk policy you know you lose

 

[Rat in the Hat]

Still waiting for you to answer this post, Truthiepoo.

Stimulating mortgage demand via the ill-conceived Community Reinvestment Act by and giving Fannie Mae and Freddie Mac the power to create a secondary mortgage market by the Clinton administration is what cause the mortgage bubble!

I say the cure is taking on the unions and over-burdensome business regulation and reviving the manufacturing and R&D sectors!

why did the banks write so many more than the law required?

Exactly how many did the law require?

Be specific.

 

[Truthmatters]

great facts you bring to bare you fucking idiots.

standing arround and wacking your doodles at each other only leaves you with doodle spit on your clothes and doesnt change the facts

 

[TakeAStepBack]

The conduit of securities bundling did not create the housing bubble, TM.

Those are the facts of life.

hahahahahahahahahahahaha


not a fucking shred of fact to back you dumb assed position

I do not need to supply facts. Securities bundling is how hedging was conducted once the signs, aside from those who were warning deaf ears, that the mortgage industry was in serious trouble.

Where did the credit come from to lend all those lower income, cant even afford it, people?

 

[Rat in the Hat]

great facts you bring to bare you fucking idiots.

standing arround and wacking your doodles at each other only leaves you with doodle spit on your clothes and doesnt change the facts

Answer the question in post #104, salad tosser.

 

[TakeAStepBack]

[ame=http://www.youtube.com/watch?v=LMyLRVbkNNk&feature=relmfu]Facts Of Life Theme-Season 5 - YouTube[/ame]

 

[Ernie S.]

and this fucking void brain calls an SEC release not fact

WAIT! I thought it WAS fact?

 

[Rat in the Hat]

and this fucking void brain calls an SEC release not fact

 

[Truthmatters]

Community Reinvestment Act - Wikipedia, the free encyclopedia


Legal and financial experts have noted that CRA regulated loans tend to be safe and profitable, and that subprime excesses came mainly from institutions not regulated by the CRA. In the February 2008 House hearing, law professor Michael S. Barr, a Treasury Department official under President Clinton,[63][119] stated that a Federal Reserve survey showed that affected institutions considered CRA loans profitable and not overly risky. He noted that approximately 50% of the subprime loans were made by independent mortgage companies that were not regulated by the CRA, and another 25% to 30% came from only partially CRA regulated bank subsidiaries and affiliates. Barr noted that institutions fully regulated by CRA made "perhaps one in four" sub-prime loans, and that "the worst and most widespread abuses occurred in the institutions with the least federal oversight".[120] According to Janet L. Yellen, President of the Federal Reserve Bank of San Francisco, independent mortgage companies made risky "high-priced loans" at more than twice the rate of the banks and thrifts; most CRA loans were responsibly made, and were not the higher-priced loans that have contributed to the current crisis.[121] A 2008 study by Traiger & Hinckley LLP, a law firm that counsels financial institutions on CRA compliance, found that CRA regulated institutions were less likely to make subprime loans, and when they did the interest rates were lower. CRA banks were also half as likely to resell the loans.[122] Emre Ergungor of the Federal Reserve Bank of Cleveland found that there was no statistical difference in foreclosure rates between regulated and less-regulated banks, although a local bank presence resulted in fewer foreclosures.[123]

During a 2008 House Committee on Oversight and Government Reform hearing on the role of Fannie Mae and Freddie Mac in the financial crisis, including in relation to the Community Reinvestment Act, asked if the CRA provided the "fuel" for increasing subprime loans, former Fannie Mae CEO Franklin Raines said it might have been a catalyst encouraging bad behavior, but it was difficult to know. Raines also cited information that only a small percentage of risky loans originated as a result of the CRA.[

 

[Rat in the Hat]

Community Reinvestment Act - Wikipedia, the free encyclopedia

[ame=http://www.youtube.com/watch?v=ITeuaqcpckc]Spam - YouTube[/ame]

 

[Truthmatters]

facts you dumb bastards

 

[Truthmatters]

this is who the right is.

lying stupid circle jerkers

 

[TakeAStepBack]

How was all that credit available to those people who could not afford the assets? Was that the banks too?

 

[Rat in the Hat]

facts you dumb bastards

Wikipedia is not facts, you dumb witch. Anyone can edit it.

Go back to your schnapps bottle.

 

[Truthmatters]

dear fucking idiots the fact is CRA did not generate the bulk of the bad loans.


Why did institutions who were not covered by CRA write shitloads of sub prime?


to make money you assholes

 

[Papageorgio]

Sure tell when matters is getting punished, all she can do is name call. She is funny.

 

[Truthmatters]

http://www.traigerlaw.com/publications/traiger_hinckley_llp_cra_foreclosure_study_1-7-08.pdf

 

[Rat in the Hat]

dear fucking idiots the fact is CRA did not generate the bulk of the bad loans.


Why did institutions who were not covered by CRA write shitloads of sub prime?


to make money you assholes

Why is it bad for a bank to make money, but it's OK for you to make money on your rental homes?

Is making money only acceptable when you do it?

 

[Papageorgio]

In the mid 90's why were lenders allowing loans at 125% the value of the home? Could that have perpetuated the housing bubble? Could going further and further in debt, hurt the economy, especially when the mortgage companies could no longer of loans at 125% of value? It seemed to all come to an end at that time.

 

[TakeAStepBack]

How was all that credit available to those people who could not afford the assets? Was that the banks too?