1 in 5 US Renters Risk Eviction by 9/30/2020

This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.
 
Because in the greatest economy the world has ever known, people are being evicted from their apartments.

Is this something I'm supposed to care about?
Of course not. Why would YOU care about your fellow American?
Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than working
So fuck'em if they can't live on that.
Yeah fuck those poor people, but make sure government gives trillions to the rich.

The new con motto.
How does the government " give" trillions to the rich?

Please be specific so I can make fun of you.
They just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.
 
Because in the greatest economy the world has ever known, people are being evicted from their apartments.

Is this something I'm supposed to care about?
Of course not. Why would YOU care about your fellow American?
Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than working
So fuck'em if they can't live on that.
Yeah fuck those poor people, but make sure government gives trillions to the rich.

The new con motto.
How does the government " give" trillions to the rich?

Please be specific so I can make fun of you.
They just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.
who are these rich you are talking about be very specific and have some supporting links
I want names of corporations and how much they were given.
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.

Well yeah, of course they are trying to initiate evictions and intimidate people.

My expenses as a land lord, do not magically disappear because you stop paying, and the laws says that's fine.

The law can say anything, and I still have bills to pay.

And by the way, what do you think is going to happen when I get foreclosed on? The Bank will have to kick you out of the house.

So either way, you are going to get kicked out. I don't know why people cry about the land lords, as if me just ignoring the fact the bills are not being paid, will let the renter stay in the house.

The solution is... stop all this lock down nonsense, and get people back to work.
You were unable to take advantage of the mortgage forbearance provision in the CARES Act?
CARES Act Mortgage Forbearance: What You Need to Know | Consumer Financial Protection Bureau

Good thing I'm not one of your tenants huh? :)

That doesn't help at all.

In the short term it does, sure. But in the long term, you are still screwed.

The forbearance only lasts 180 days, and then you owe the money you didn't pay.

So if I owe $1,000 a month on the mortgage, and 6 months later, you still have not paid me rent.... now I owe $7,000 in mortgage and back payments, and I have zero dollars from you.

Now obviously if you as the tenant, pay up your rent before the 6 m onths is up, great. But if you don't, then I am 6 months behind on my mortgage payment, with a renter that I can only now after months and months, start the eviction process on.

It doesn't magically make the debt go away, or magically make me able to handle the loss of income. If anything, it kind of drags the problem out, which makes it worse.
Sure it's simply buying you some time however you would prefer that they simply foreclose as soon as you miss x number of mortgage payment?

I know it sucks if you can't pay your mortgage because your tenants can't pay their rent but the reason they can't pay their rent is because the government shut down their jobs, this shutdown is unprecedented.

It's messed up all the way around for everyone except the money lenders and those who will scoop up the assets lost by others.

Sure it's simply buying you some time however you would prefer that they simply foreclose as soon as you miss x number of mortgage payment?

Again, that only works if you get the money. That only works if the renter eventually pays up.

Buying time, only works, if the renter pays the rent at some point.

Do you think the renter is going to pay the rent? I don't.

Just think about this logically.

Say the renter misses 6 months. Therefore you miss 6 months mortgage on the rental.

You have this forbearance. That allows you to miss those 6 months of payments, without risk of foreclosure.

Great.

But the only way that you can survive, is if you eventually start getting income again from the rental.

And the only possible way to get money from the rental is....

A: The renter starts paying all the missed payments.
B: You replace the renter with a renter that pays.

Well option B is eliminated because the government is preventing you from evicting.

So the only chance you have of avoiding foreclosure, is the renter pays the rent.

Will they do that? No.

Why not? Two reasons. If you tell people they don't have to pay, they don't. We've seen this in California with squatter laws.

If you can't do anything to remove someone, and they are not paying, they have no reason to change. We also saw this in 2010, when people who had been magically unable to find work for 99 weeks, magically were able to find work, when the unemployment ran out.

Why didn't they find jobs at 20 weeks, or 40 weeks, or 60 weeks, or 80 weeks? Because they didn't have to. When they got to 99 weeks, suddenly they had to... just like magic, they were able to find work.

Second reason is, because it would be almost impossible for them to catch up, unless they landed a really good job. If you are out of work, or even if you are still employed, but behind 6 months rent... what are the chance you are going to be able to catch up 6 months rent, while still paying your rent?

So these people know they will likely be evicted eventually anyway, so why would they even try to pay their rent? Instead they will do what is logical, which is to just not pay rent at all, live as long as possible in the rental, and bank all the money you can until you are evicted.

Those people will simply get evicted, and start over someplace else with a new rent payment.

Meanwhile when *I* as the landlord run out my forbearance, I'm screwed. I simply won't have the money to make up that much missed time, with mortgage payments on a rental, with renters that refused to pay.

In short, all the forbearance does is almost guarantee I'll end up foreclosed. My only shot at avoiding foreclosure, is getting rid of the renters as soon as they stop paying.
 
Last edited:
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.

Weren't their some Congressmen and Senators involved with the banking industry just before the meltdown?
Franks Dodd Waters Biden
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.

Weren't their some Congressmen and Senators involved with the banking industry just before the meltdown?
Franks Dodd Waters Biden


If you mean directly before the crash, in the period between 1997, and 2008.... sort of....

There were some actions taken to promote home ownership, which necessarily requires lowering lending standards to include more people.

However, none of that really is relevant.

The way a bubble works, something... causes a sudden increase in buyers in the market.
The sudden increase in demand causes prices to rise...
The sudden increase in prices stimulates more people to buy....
The increase in buyers, causes prices to rise...
The increase in prices, causes more people to buy...

Once this cycle starts, it will keep going until it exhausts itself, and dies.

I compare it very much to a hurricane. Before hand it is nothing but a storm, and some rain. But once it starts spin, and has that low pressure, it starts sucking energy into itself from everything around it. It turns into a monster, and nothing will stop it until it either runs out of energy over cold water, or it crash into land.

So the key to any bubble is the start. That's the key. Once a bubble starts, there is nothing you can do to stop it. The best thing you can do, is pop that bubble early. But popping a bubble before it pops on it's own, will not stop the crash. The problem there is, there is no benefit to popping the bubble early. In fact, everyone will claim there was no bubble, and you destroyed the economy needlessly.

So it is true that politicians supported increasing home ownership, and they were spread throughout the government, from Bush, down to Barnie Frank and so on. All true.

However even if they had known about the bubble, and agreed it was a problem... by 1999, before Clinton left office, it was already too late.

The sub-prime housing price bubble, was already growing and established by 1998.

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If you can't see that....

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So the housing price bubble started in 1997 to 1998. That's when prices started shooting off.

And as I posted proof of before, 1997 is when Freddie Mac guaranteed sub-prime loans with a AAA rate. And 1998 is when the government through Andrew Cuomo sued banks to make bad loans.

Suing banks for not making bad loans, and at the same time guaranteeing bad loans through the Freddie Mac, dramatically increased the number of home buyers by lowering lending standards.

From that point on, the crash was unavoidable. It only was just a question of when the crash would happen.
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.

Well yeah, of course they are trying to initiate evictions and intimidate people.

My expenses as a land lord, do not magically disappear because you stop paying, and the laws says that's fine.

The law can say anything, and I still have bills to pay.

And by the way, what do you think is going to happen when I get foreclosed on? The Bank will have to kick you out of the house.

So either way, you are going to get kicked out. I don't know why people cry about the land lords, as if me just ignoring the fact the bills are not being paid, will let the renter stay in the house.

The solution is... stop all this lock down nonsense, and get people back to work.
You were unable to take advantage of the mortgage forbearance provision in the CARES Act?
CARES Act Mortgage Forbearance: What You Need to Know | Consumer Financial Protection Bureau

Good thing I'm not one of your tenants huh? :)

That doesn't help at all.

In the short term it does, sure. But in the long term, you are still screwed.

The forbearance only lasts 180 days, and then you owe the money you didn't pay.

So if I owe $1,000 a month on the mortgage, and 6 months later, you still have not paid me rent.... now I owe $7,000 in mortgage and back payments, and I have zero dollars from you.

Now obviously if you as the tenant, pay up your rent before the 6 m onths is up, great. But if you don't, then I am 6 months behind on my mortgage payment, with a renter that I can only now after months and months, start the eviction process on.

It doesn't magically make the debt go away, or magically make me able to handle the loss of income. If anything, it kind of drags the problem out, which makes it worse.
Sure it's simply buying you some time however you would prefer that they simply foreclose as soon as you miss x number of mortgage payment?

I know it sucks if you can't pay your mortgage because your tenants can't pay their rent but the reason they can't pay their rent is because the government shut down their jobs, this shutdown is unprecedented.

It's messed up all the way around for everyone except the money lenders and those who will scoop up the assets lost by others.

Sure it's simply buying you some time however you would prefer that they simply foreclose as soon as you miss x number of mortgage payment?

Again, that only works if you get the money. That only works if the renter eventually pays up.

Buying time, only works, if the renter pays the rent at some point.

Do you think the renter is going to pay the rent? I don't.

Just think about this logically.

Say the renter misses 6 months. Therefore you miss 6 months mortgage on the rental.

You have this forbearance. That allows you to miss those 6 months of payments, without risk of foreclosure.

Great.

But the only way that you can survive, is if you eventually start getting income again from the rental.

And the only possible way to get money from the rental is....

A: The renter starts paying all the missed payments.
B: You replace the renter with a renter that pays.

Well option B is eliminated because the government is preventing you from evicting.

So the only chance you have of avoiding foreclosure, is the renter pays the rent.

Will they do that? No.

Why not? Two reasons. If you tell people they don't have to pay, they don't. We've seen this in California with squatter laws.

If you can't do anything to remove someone, and they are not paying, they have no reason to change. We also saw this in 2010, when people who had been magically unable to find work for 99 weeks, magically were able to find work, when the unemployment ran out.

Why didn't they find jobs at 20 weeks, or 40 weeks, or 60 weeks, or 80 weeks? Because they didn't have to. When they got to 99 weeks, suddenly they had to... just like magic, they were able to find work.

Second reason is, because it would be almost impossible for them to catch up, unless they landed a really good job. If you are out of work, or even if you are still employed, but behind 6 months rent... what are the chance you are going to be able to catch up 6 months rent, while still paying your rent?

So these people know they will likely be evicted eventually anyway, so why would they even try to pay their rent? Instead they will do what is logical, which is to just not pay rent at all, live as long as possible in the rental, and bank all the money you can until you are evicted.

Those people will simply get evicted, and start over someplace else with a new rent payment.

Meanwhile when *I* as the landlord run out my forbearance, I'm screwed. I simply won't have the money to make up that much missed time, with mortgage payments on a rental, with renters that refused to pay.

In short, all the forbearance does is almost guarantee I'll end up foreclosed. My only shot at avoiding foreclosure, is getting rid of the renters as soon as they stop paying.
I'm really sorry to hear this, especially since we're going into a second lockdown it appears which makes me apprehensive that things are going to get worse before they get better.

Can you maybe take some of the equity out of your building and use it to catch up on your mortgages payments? Or have you applied for any of the money available for businesses under the CARES Act? It's kind of late in the game but I talked to someone at the SBA not too long ago and I asked them if they had run out of funding yet and he seemed to be of the opinion that they have plenty of funding but there are lots of people applying for assistance. He transferred me over to the department with the people who could actually answer my question but I hung up after having waiting about 20 minutes and being informed I was caller number 1,663.

Maybe you could research what else the SBA may have available to specifically help landlords, I'm pretty sure I read about some other programs besides the PPP and EIDL. Also your city, county and state may have programs available that could assist you.
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.

Because in the greatest economy the world has ever known, people are being evicted from their apartments.

Is this something I'm supposed to care about?
Of course not. Why would YOU care about your fellow American?
Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than working
So fuck'em if they can't live on that.
Yeah fuck those poor people, but make sure government gives trillions to the rich.

The new con motto.
How does the government " give" trillions to the rich?

Please be specific so I can make fun of you.
They just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.
who are these rich you are talking about be very specific and have some supporting links
I want names of corporations and how much they were given.
Ron Paul weighs in and he agrees with me. I’m certain though, you guys think you’re more informed than he is. Right?


The Federal Reserve manipulates the money supply by buying and selling government securities. This means that when the Fed decides to pump money into the economy, it does so by putting it in the pockets of wealthy, and oftentimes politically-connected, investors who are able to spend the new money before the Fed’s actions result in widespread inflation. Wealthy individuals also tend to be among the first to invest in the bubbles that form when the Fed distorts interest rates, which are the price of money. These investors may lose some money when the bubble bursts, but these losses are usually outweighed by their gains, so they end up profiting from the Fed-created boom-bubble-bust cycle.

In contrast, middle-class Americans lose jobs as well as savings, houses, and other assets when bubbles burst. They will also not benefit as much as the rich and well-connected from government bailouts and stimulus schemes. Middle- and working-class Americans also suffer from a steady erosion of their standard of living because of the Fed’s devaluation of the currency. This is the reason why so many Americans rely on credit cards to cover routine expenses. The Federal Reserve is thus the reason why total US credit card debt is almost one trillion dollars.
Will the Federal Reserve Finally Wreck America? - LewRockwell LewRockwell.com
 
Because in the greatest economy the world has ever known, people are being evicted from their apartments.

Is this something I'm supposed to care about?
Of course not. Why would YOU care about your fellow American?
Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than working
So fuck'em if they can't live on that.
Yeah fuck those poor people, but make sure government gives trillions to the rich.

The new con motto.
How does the government " give" trillions to the rich?

Please be specific so I can make fun of you.
They just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.
who are these rich you are talking about be very specific and have some supporting links
I want names of corporations and how much they were given.
You can start with the billionaires and their minions.
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.

Means nothing.
 
If you can do the math, the "break-even" point for the unemployment payments was around $1200/wk pay while working.
If someone making more than that while working (the ones that actually started losing money by taking unemployment) can't keep a roof over their heads, I have no sympathy for them...
See if you can do this math: In my immigrant, working-class neighborhood, market rent for a 400 square-foot apartment is $1250 a month. Like I said...you need to get out more before making an even bigger fool of yourself.
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.

Because in the greatest economy the world has ever known, people are being evicted from their apartments.

Is this something I'm supposed to care about?
Of course not. Why would YOU care about your fellow American?
Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than working
So fuck'em if they can't live on that.
Yeah fuck those poor people, but make sure government gives trillions to the rich.

The new con motto.
How does the government " give" trillions to the rich?

Please be specific so I can make fun of you.
They just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.
who are these rich you are talking about be very specific and have some supporting links
I want names of corporations and how much they were given.
Ron Paul weighs in and he agrees with me. I’m certain though, you guys think you’re more informed than he is. Right?


The Federal Reserve manipulates the money supply by buying and selling government securities. This means that when the Fed decides to pump money into the economy, it does so by putting it in the pockets of wealthy, and oftentimes politically-connected, investors who are able to spend the new money before the Fed’s actions result in widespread inflation. Wealthy individuals also tend to be among the first to invest in the bubbles that form when the Fed distorts interest rates, which are the price of money. These investors may lose some money when the bubble bursts, but these losses are usually outweighed by their gains, so they end up profiting from the Fed-created boom-bubble-bust cycle.

In contrast, middle-class Americans lose jobs as well as savings, houses, and other assets when bubbles burst. They will also not benefit as much as the rich and well-connected from government bailouts and stimulus schemes. Middle- and working-class Americans also suffer from a steady erosion of their standard of living because of the Fed’s devaluation of the currency. This is the reason why so many Americans rely on credit cards to cover routine expenses. The Federal Reserve is thus the reason why total US credit card debt is almost one trillion dollars.
Will the Federal Reserve Finally Wreck America? - LewRockwell LewRockwell.com

Isn’t this wonderful? The war parties (Rs and Ds) love enriching the MIC. Any guesses as to who benefits big from all those dollars? I’m pretty sure it isn’t anyone in the middle class or those who are poor.

How the House Armed Services Committee, in the Middle of a Pandemic, Approved a Huge Military Budget and More War in Afghanistan
SYSTEM UPDATE: How the House Armed Services Committee Works
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.

Because in the greatest economy the world has ever known, people are being evicted from their apartments.

Is this something I'm supposed to care about?
Of course not. Why would YOU care about your fellow American?
Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than working
So fuck'em if they can't live on that.
Yeah fuck those poor people, but make sure government gives trillions to the rich.

The new con motto.
How does the government " give" trillions to the rich?

Please be specific so I can make fun of you.
They just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.
who are these rich you are talking about be very specific and have some supporting links
I want names of corporations and how much they were given.
Ron Paul weighs in and he agrees with me. I’m certain though, you guys think you’re more informed than he is. Right?


The Federal Reserve manipulates the money supply by buying and selling government securities. This means that when the Fed decides to pump money into the economy, it does so by putting it in the pockets of wealthy, and oftentimes politically-connected, investors who are able to spend the new money before the Fed’s actions result in widespread inflation. Wealthy individuals also tend to be among the first to invest in the bubbles that form when the Fed distorts interest rates, which are the price of money. These investors may lose some money when the bubble bursts, but these losses are usually outweighed by their gains, so they end up profiting from the Fed-created boom-bubble-bust cycle.

In contrast, middle-class Americans lose jobs as well as savings, houses, and other assets when bubbles burst. They will also not benefit as much as the rich and well-connected from government bailouts and stimulus schemes. Middle- and working-class Americans also suffer from a steady erosion of their standard of living because of the Fed’s devaluation of the currency. This is the reason why so many Americans rely on credit cards to cover routine expenses. The Federal Reserve is thus the reason why total US credit card debt is almost one trillion dollars.
Will the Federal Reserve Finally Wreck America? - LewRockwell LewRockwell.com

Isn’t this wonderful? The war parties (Rs and Ds) love enriching the MIC. Any guesses as to who benefits big from all those dollars? I’m pretty sure it isn’t anyone in the middle class or those who are poor.

How the House Armed Services Committee, in the Middle of a Pandemic, Approved a Huge Military Budget and More War in Afghanistan
SYSTEM UPDATE: How the House Armed Services Committee Works


We get it already you hate high paying Union jobs
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


eq-7TLGvC5-RzX7o7cYMRlj4qvN6ZcEOOwTSUq9gTWgvcskABcwSaoyWcJDPl3cs0UP194FuzCQF77363BzAXQtKn3SuxC5VyO-6ruepkH8svwng6wOb8sOaG2OVysIWEKzglh_zTfYUhcGagbeaC_a3G5dqaiEQlYlbkeJdnd1iMVbGUy-DFPNnceN2Kf1Mnqv2ymRmh9Fnsa6buab5i5HgLj-_s815wxF967hNXV4UiUXnuUrEzOQ8dyyeYQEv_anKqd2nUO5fe5KBmnJLpomeOgPampq-fqNldsdILr062e8omBWQCIDF4nXwcflVn3GbdSM-PlrbE3i4KxIRIVhA62EikrGdqqxlgo7KyNv3D7eC1gICNBmKbQjQ9A7XJ4qfNVEBjrSbJOGbVD2WjNTud1ENYUbsfGQRCSPXXgPaXAx8ZCTv1J8Df_UNcGcpJYdoWHNH_DmuEccmgUPPbtyuJiyP1ZojDzsJ8q3iLWyNWpE4Lela4vLnf-TkAIibYpp_Lmlz1W_2FW22c1OfvI-teBbf5SJ6wh1jY4XL8yxJfnrxpZIBTRy-IQmRPnf7A2dG1WwNUNbqTgbZ5VGZbc1HLLQw8XEyFbN_qxEonuBXDGQdGtLKLJaQYu5l_2amfQyxNmCktRLdys6lDRieHTQ1ZzbePeT6nPYWNVdaP9Lfd8H62wlVuFxc39lW=w400-h287-no


Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.

Because in the greatest economy the world has ever known, people are being evicted from their apartments.

Is this something I'm supposed to care about?
Of course not. Why would YOU care about your fellow American?
Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than working
So fuck'em if they can't live on that.
Yeah fuck those poor people, but make sure government gives trillions to the rich.

The new con motto.
How does the government " give" trillions to the rich?

Please be specific so I can make fun of you.
They just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.
who are these rich you are talking about be very specific and have some supporting links
I want names of corporations and how much they were given.
Ron Paul weighs in and he agrees with me. I’m certain though, you guys think you’re more informed than he is. Right?


The Federal Reserve manipulates the money supply by buying and selling government securities. This means that when the Fed decides to pump money into the economy, it does so by putting it in the pockets of wealthy, and oftentimes politically-connected, investors who are able to spend the new money before the Fed’s actions result in widespread inflation. Wealthy individuals also tend to be among the first to invest in the bubbles that form when the Fed distorts interest rates, which are the price of money. These investors may lose some money when the bubble bursts, but these losses are usually outweighed by their gains, so they end up profiting from the Fed-created boom-bubble-bust cycle.

In contrast, middle-class Americans lose jobs as well as savings, houses, and other assets when bubbles burst. They will also not benefit as much as the rich and well-connected from government bailouts and stimulus schemes. Middle- and working-class Americans also suffer from a steady erosion of their standard of living because of the Fed’s devaluation of the currency. This is the reason why so many Americans rely on credit cards to cover routine expenses. The Federal Reserve is thus the reason why total US credit card debt is almost one trillion dollars.
Will the Federal Reserve Finally Wreck America? - LewRockwell LewRockwell.com

Isn’t this wonderful? The war parties (Rs and Ds) love enriching the MIC. Any guesses as to who benefits big from all those dollars? I’m pretty sure it isn’t anyone in the middle class or those who are poor.

How the House Armed Services Committee, in the Middle of a Pandemic, Approved a Huge Military Budget and More War in Afghanistan
SYSTEM UPDATE: How the House Armed Services Committee Works


We get it already you hate high paying Union jobs


And you do too. That's the difference. We know admit the truth, you don't.

You pretend you like high paying union jobs, but then you complain about the cost of everything. You cry about inflation, and how the cost of living goes up.

Well... sparky... those are connected. In order to pay those high wages to cushy union jobs, you have to pay much higher prices for everything you buy.

If you had to calculate at the end of the year, all the extra money you had to pay for Union labor... you'd be screaming bloody murder.

The only reason you don't, is because you can't see how much poorer you are because of Unions.
 
This is horrible. A lot of states have moritoriums on evictions however the monthly expenses keep accruing, while there is no income to offset it. So when they lift the moritoriums, all that back rent will become due at once, while the tenant may or may not have begun working again. He/she will be in the whole no matter what.

And far too many landlords are/were attempting to initiate eviction proceedings during the time they weren't allowed. Attempting to intimidate and scare people out of their homes without even going through the legal process which they couldn't do because the courts were closed.

It's a bad situation all the way around.
The people living off a government check kept getting that check (and some states actually MAXED OUT their food stamps to help them)...

The people that kept working kept getting their paychecks...

And the people that were laid off made out like bandits!!!

If they decided to not pay their rent and let it pile up, that's on them for being irresponsible!!!
By bandits you mean Wall Street, big corporations, the 1%, the Catholic Church. etc right?
I'm talking about the people that made MORE by being laid off...

Unlike the essential workers (like me), who worked the entire TIME without "free money" (other than the stimulus)...

So if I made it, I have no sympathy for the irresponsible people...
You should be focusing your disgust at Trump and Congress who enriched the rich massively, while throwing peanuts at the people.

Yet more proof our government only cares about the ultra rich.

You do realize that 2/3 of the entire $4 Trillion budget, is money to the people... right?

2/3rds of the budget goes to the public. And you want to claim that only the ultra rich are getting money?

Prove it. Provide evidence.
Just review the Cares Act. About 2/3 of it went to the rich.

Right....... so you are going to ignore almost $3 Trillion dollars in Federal Government money that goes to the general public........ Focus exclusively on one single bill, and claim it all goes to the rich, ignoring literally Trillions of dollars that don't?

Further, I've read up on that, and it's not true.

From what I've read, ZERO money just "goes to the rich". Zero.

The only item in the Cares Act that is actually money that comes from the US government, and can possibly go to rich people, is the guaranteed loans.

But those are LOANS. They have to pay them back, with interest.

Do you have to pay back your Cash Grants you are getting? No. You don't have to pay back the money you get from the government. But the rich people have to pay back the money they get from the government.

Notice a slight difference there?

Other than that, they passed a bunch of tax deductions. A tax deduction is not "rich getting money". They are not getting a check from the government.

A deduction, is just like you taking a deduction. If you take the standard deduction, which allows you to keep your own money, do you claim that government is funding you?

No, because if you didn't work for that cash, you would have no taxes to deduct in the first place.

A deduction is not you getting money from the government.

So.... NO. You are wrong. The wealthy are not getting money from the government.

At least not from what I've read. If you have evidence, provide it.
So you’re going to ignore what happened during the Great Recession, when over 8 million Americans lost their homes due to criminal actions by big banks, rating agencies, and mortgage brokers. Those criminal actors got bailed out. Not the American people.

Now a pandemic shuts down the economy forcing millions of Americans out of work and unable to pay their bills, but you think $600 and unemployment benefits is good enough for the people. You ignore the trillions going to the wealthy.

Criminal actions?

The government did that. Freddie Mac, under the control of Bill Clinton, pushed to force banks to make bad loans, just like Obama was doing at that time.



Andrew Cuomo openly admitted they didn't qualify for loans, and the government forced to the banks to make loans.

Additionally the government guaranteed those sub-prime loans.

In 1996, the Department of Housing and Urban Development set a target for Fannie and Freddie that 42 percent of their investment must go to CRA-eligible borrowers.​

in order to make that happen....
In 1997, the first securitization of CRA loans, by Bear Stearns, was guaranteed by Freddie Mac. Bear Stearns soon issued another $1.9 billion of CRA mortgages guaranteed by Fannie and Freddie. Fannie securitized close to $400 billion of CRA mortgages between 2000 and 2002. Fannie and Freddie were the primary drivers fueling the demand for secondary market subprime securities.​

This is well documented. If the government had not been involved in the mortgage market, the sub-prime bubble and crash in 2008, would never have happened.


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Before the government got directly involved in 1997, sub-prime was a niche market. It would have stayed that way forever.

As soon as the government guaranteed sub-prime loans, with AAA ratings, the market boomed, which caused the bubble, and crashed in 2008.

Banks didn't do that. Government did. Facts over opinion.

Lol. I’m fine with blaming government TOO. They certainly played a part, but if you think the bankers and the others who crashed the economy are blameless, we can’t continue to debate because you aren’t informed.

The government you so despise then bailed out the crooks, while doing little for the American people. Trump and congress just repeated what W and O did. It’s what government does. The rich own the government.


I'll tell you what.... How about we have the government sue you to force you into using asbestos in your home, and then years later we'll call you a criminal and want to lock you in prison for using asbestos in your home.

Does seem logical and fair to you?

Obama sued a bank, to make bad loans.
Clinton through Andrew Cuomo sued banks to make bad loans.

Now you want to blame banks for making bad loans.

How can you blame people for doing exactly what they were forced by the government to do?

Did you read the press release?

In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.​

The banks did not just randomly give bad loans a AAA rating. The rating agencies didn't just randomly give bad loans a AAA rating.

The government through Freddie Mac gave bad loans a AAA rating.

The Mitsubishi Mirage is considered one of the worst cars on the market today. If the government started guaranteeing the quality of the Mirage, do you think sales would increase? Of course they would. Do you think Mitsubishi would double or triple production? Of course they would. Do you think people would start buying them? Of course they would. Do you think the value of these cars would double or triple? Of course they would.

And when the truth came out, that shockingly they still suck... the market for these cars would crash. People who paid $30,000 for a government guaranteed quality car, would end up with a $10,000 junk car. The would default on their loans, and there would be a crash of repos.

Did the "market" do that? No. Government did it. Not a single Sub-prime loan anywhere in the country, would have a AAA rating, if the government had not done it.

Absolutely everything, was due to government.

Not one single aspect of the crash, would have happened if government had not specifically made it happen.

The entire derivatives market itself, is in fact a creation of government. Mortgage Backed Securities were created by government.

Absolutely everything, is exclusively because government made it happen.

You saying you want to blame banks, is like you buying a house the government threatened you to buy, and guaranteed the quality, you renting it out and having the house fall in on itself killing the renters, and people demanding you be thrown in prison for it.

You only bought that house because the government itself guaranteed the quality of the house. Now you are going to go to prison, for doing exactly what the government demanded you do.

If we did that to you, you would be losing your mind in rage at your unjust treatment. But that is exactly what you are doing yourself.

Liar loans packaged as AAA paper and sold around the world at enormous profit, is not the fault of government.

To blame government EXCLUSIVELY for the Great Recession, is ignorance on a massive scale.



In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available securitization of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied “AAA” rating.

I will issue you a challenge to prove your claim. Provide one single example, of any sub-prime loan that was given a AAA rating, and sold, prior to 1997.

Because in the greatest economy the world has ever known, people are being evicted from their apartments.

Is this something I'm supposed to care about?
Of course not. Why would YOU care about your fellow American?
Idiot people are making unemployment and getting an additional 600.00 a week tax free they are actually making more not working than working
So fuck'em if they can't live on that.
Yeah fuck those poor people, but make sure government gives trillions to the rich.

The new con motto.
How does the government " give" trillions to the rich?

Please be specific so I can make fun of you.
They just did it in the CARES act. The Fed has been doing it since the Great Recession and is doing it now buying corporate bonds of big corporations.
who are these rich you are talking about be very specific and have some supporting links
I want names of corporations and how much they were given.
Ron Paul weighs in and he agrees with me. I’m certain though, you guys think you’re more informed than he is. Right?


The Federal Reserve manipulates the money supply by buying and selling government securities. This means that when the Fed decides to pump money into the economy, it does so by putting it in the pockets of wealthy, and oftentimes politically-connected, investors who are able to spend the new money before the Fed’s actions result in widespread inflation. Wealthy individuals also tend to be among the first to invest in the bubbles that form when the Fed distorts interest rates, which are the price of money. These investors may lose some money when the bubble bursts, but these losses are usually outweighed by their gains, so they end up profiting from the Fed-created boom-bubble-bust cycle.

In contrast, middle-class Americans lose jobs as well as savings, houses, and other assets when bubbles burst. They will also not benefit as much as the rich and well-connected from government bailouts and stimulus schemes. Middle- and working-class Americans also suffer from a steady erosion of their standard of living because of the Fed’s devaluation of the currency. This is the reason why so many Americans rely on credit cards to cover routine expenses. The Federal Reserve is thus the reason why total US credit card debt is almost one trillion dollars.
Will the Federal Reserve Finally Wreck America? - LewRockwell LewRockwell.com

Isn’t this wonderful? The war parties (Rs and Ds) love enriching the MIC. Any guesses as to who benefits big from all those dollars? I’m pretty sure it isn’t anyone in the middle class or those who are poor.

How the House Armed Services Committee, in the Middle of a Pandemic, Approved a Huge Military Budget and More War in Afghanistan
SYSTEM UPDATE: How the House Armed Services Committee Works


We get it already you hate high paying Union jobs


And you do too. That's the difference. We know admit the truth, you don't.

You pretend you like high paying union jobs, but then you complain about the cost of everything. You cry about inflation, and how the cost of living goes up.

Well... sparky... those are connected. In order to pay those high wages to cushy union jobs, you have to pay much higher prices for everything you buy.

If you had to calculate at the end of the year, all the extra money you had to pay for Union labor... you'd be screaming bloody murder.

The only reason you don't, is because you can't see how much poorer you are because of Unions.

Project much ? I despise Unions
 

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