The data is now all in and we all agree lib. policy caused housing crisis-right?

[EdwardBaiamonte]

Before Crisis:
"These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis," said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."-Barney Frank

After Crisis:
Barney Frank: "I hope by next year we'll have abolished Fanny Freddie... it was a great mistake to push lower income people into homes they couldn't afford and couldn't really handle once they had it."

 

[Jomama]

Greenspan should be tarred and feathered.

 

[EdwardBaiamonte]

Greenspan should be tarred and feathered.

Greenspan should be tarred and feathered.

dear, do you have a reason to say that? Note, the liberal IQ is so low that they don't know a reason is necessary. And you think our country is not doomed?

 

[JakeStarkey]

Eddy, if we followed your economic theories in America, the world poverty level would increase 10% in one year.

The housing mess was caused by a Republican Congress (1994-2006) aided by some powerful Democrats and two compliant presidents.

 

[Jomama]

Simpleton, not everything is a political issue. Sometimes people just fuckup without political cause, which is what Greenspan did by fueling an insane speculative bubble. Just because (stupid, spineless, morally bankrupt) politicians cheered him on doesn't make it a political issue nor does it absolve him of his direct responsibility in the destruction of trillions of dollars of value in the US economy. Someone has to be in charge, the buck must stop somewhere, Greenspan was THE central banker and it was an insane speculative financial bubble fueled by dysfunction ratings agencies, financial products that no one understood and immoral amounts of leverage - it all happened under his watch.

 

[EdwardBaiamonte]

Greenspan was THE central banker and it was an insane speculative financial bubble fueled by dysfunction ratings agencies, financial products that no one understood and immoral amounts of leverage - it all happened under his watch.

dear, there were lots and lots of people on watch during the run up to the crisis but few even now put the blame on Greenspan. Mostly, it goes to Fan/Fred since they had 76% of the sub prime and Alt A mortgages and since they wrote the mortgage standards the industry lived by..

 

[Votto]

Eddy, if we followed your economic theories in America, the world poverty level would increase 10% in one year.

The housing mess was caused by a Republican Congress (1994-2006) aided by some powerful Democrats and two compliant presidents.

People would be dy'in in the streets I tell ya!!!

Save us Obama!!!!!!!!!!!!!!!!!!!!!!!

 

[JakeStarkey]

Eddy, if we followed your economic theories in America, the world poverty level would increase 10% in one year.

The housing mess was caused by a Republican Congress (1994-2006) aided by some powerful minority Democrats and two compliant presidents.

People would be dy'in in the streets I tell ya!!! Save us Obama!!!!!!!!!!!!!!!!!!!!!!!

If Eddy were in charge of our economy, then, yes, that would be a possibility.

 

[Dont Taz Me Bro]

Greenspan should be tarred and feathered.

Greenspan should be tarred and feathered.

dear, do you have a reason to say that? Note, the liberal IQ is so low that they don't know a reason is necessary. And you think our country is not doomed?

If you were informed you wouldn't have to ask. Greenspan's excessively low interest rates helped fuel the bubble. He even admits as such.

http://www.nytimes.com/2008/10/24/business/economy/24panel.html?_r=0

 

[EdwardBaiamonte]

Greenspan should be tarred and feathered.

Greenspan should be tarred and feathered.

dear, do you have a reason to say that? Note, the liberal IQ is so low that they don't know a reason is necessary. And you think our country is not doomed?

If you were informed you wouldn't have to ask. Greenspan's excessively low interest rates helped fuel the bubble. He even admits as such.

http://www.nytimes.com/2008/10/24/business/economy/24panel.html?_r=0

Yes I agree he helped but Fan Fred were the proximate cause holding 76% of the Alt A and subprime loans.

 

[JakeStarkey]

Greenspan should be tarred and feathered.

Greenspan should be tarred and feathered.

dear, do you have a reason to say that? Note, the liberal IQ is so low that they don't know a reason is necessary. And you think our country is not doomed?

If you were informed you wouldn't have to ask. Greenspan's excessively low interest rates helped fuel the bubble. He even admits as such.

http://www.nytimes.com/2008/10/24/business/economy/24panel.html?_r=0

Yes I agree he helped but Fan Fred were the proximate cause holding 76% of the Alt A and subprime loans.

And hat was empowered by a GOP Congress with powerful minority Democrats and two compliant presidents.

 

[EdwardBaiamonte]

So you agree??

 

[JakeStarkey]

That your economic theories if employed in America, Eddy, would increase world poverty by 10 in one year? Yes, I agree.

I agree, too, that the American GOP-dominated Congress, along with powerful minority Democrats and two compliant presidents, were wrong for not taking action.

On the other hand, I could see what was coming, held by boodles of money, and then made boodles more money during the Recession. Did you?

 

[prison/con.net]

anyone who was paying attention could see the housing crisis coming. I mean, how the hell can mortgage interest be LESS than the annual rate of inflation (5% average)? SOMEBODY has to be paying the difference, or lenders CANNOT lend. that "somebody" is the taxpayer.

 

[EdwardBaiamonte]

anyone who was paying attention could see the housing crisis coming. I mean, how the hell can mortgage interest be LESS than the annual rate of inflation (5% average)? SOMEBODY has to be paying the difference, or lenders CANNOT lend. that "somebody" is the taxpayer.

I thought most mortgages during the period were ARM's?

 

[Jomama]

anyone who was paying attention could see the housing crisis coming.

99+% of Americans lost value in the crash which makes you a very rare person or full of shit. What bets did you place to short housing?

 

[EdwardBaiamonte]

anyone who was paying attention could see the housing crisis coming.

99+% of Americans lost value in the crash which makes you a very rare person or full of shit. What bets did you place to short housing?

more importantly it seems we now all now agree that lib govt housing policies caused the housing crash and the financial crisis that almost turned into a Great Depression.

 

[JakeStarkey]

anyone who was paying attention could see the housing crisis coming.

99+% of Americans lost value in the crash which makes you a very rare person or full of shit. What bets did you place to short housing?

more importantly it seems we now all now agree that lib govt housing policies caused the housing crash and the financial crisis that almost turned into a Great Depression.

We all agree that the GOP Congress from 1994 to 2006, with powerful minority democrats and compliant presidents, caused the crisis.

 

[EdwardBaiamonte]

Greenspan should be tarred and feathered.

but why he ran Fed not Fan /Fred??

 

[JakeStarkey]

Eddy B knows that and agrees "that the GOP Congress from 1994 to 2006, with powerful minority democrats and compliant presidents, caused the crisis."