Hutch Starskey
Diamond Member
- Mar 24, 2015
- 36,038
- 9,459
- 1,340
At what point will Libs stop and think; "Oh shit, what have we done?"
- Thread starter BrokeLoser
- Start date
JonKoch
Gold Member
- May 14, 2017
- 1,779
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- 130
LMAOROG, THAT POOR DUBYA GOT HELD BACK BY THOSE DARN DEMS??
2 UNFUNDED tax cuts, 2 UNFUNDED wars, UNFUNDED Medicare expansion, but Barney Frank stopped Dubya/GOP from passing GSE reform? Do you even have a brain Bubba?
JonKoch
Gold Member
- May 14, 2017
- 1,779
- 151
- 130
I can't help but wonder if the Democrats in this image are cause for or give two shits about California's GDP. Your thoughts? Hahaha
By allowing people to keep what they earn?
NO ONE EARNED HUNDREDS OF MILLIONS!
Then how do you tax what no one earns?
Your inability to use your brain noted Bubba
JonKoch
Gold Member
- May 14, 2017
- 1,779
- 151
- 130
True, just look to Trumpov to see how the CONservatives are ALWAYS playing the victim card!!
Trump isn't conservative
Nope, he is like most of these so called CONservatives the past 40 years, nutjobbers in the tank to gut Gov't to benefit the top 1/10th of 1%, while playing the victim card!
So you agree he is a Democrat
No Bubba, he's the typical GOPer base that falls for the 1/10th of 1% BS to gut Gov't to lower their tax burden"....Problem is he's self dealing on his supporters don't even get it!
ONE TIME EVER CONS WERE ON THE CORRECT SIDE OF US HISTORY? Any policy???
Lets see:
When we freed the slaves.
When we fought segregation for equal rights
When we fought the evils of communism/socialism and won the cold war
When we fight to let people keep more of their own money so that they can work less for the government and more for themselves.
When we cut spending (been a while unfortunately)
When we fight abortion.
Etc
LMAOROG, TOO FUNNY BUBBA
"When we freed the slaves" YOU MEAN PROGRESSIVES? It was CONservatives from the CONServative States of AmeriKKKa who were slave holders and traitors Bubba
"When we fought segregation for equal rights", AGAIN, It was CONservatives who fought that Bubs
EVERYTHING ELSE IS BS!
AGAIN, saying YOU are "for something" while doing the opposite doesn't prove your posit!!!
sartre play
Gold Member
- May 4, 2015
- 13,288
- 4,435
- 210
There's a good doc (been out for while) on Enron. Plenty of blame to pass around, all party's seem to make lot's of mistakes, we turn a blind eye when our party is in power, in the end we just hurt our self's.
JonKoch
Gold Member
- May 14, 2017
- 1,779
- 151
- 130
"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."
Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?
A Yes.
Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?
A Banks.
Q WHY??!?!!!?!
A Two reasons, greed and Bush's regulators let them.
....Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank's capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
MY OLD ACCOUNT/POST
FACTS on Dubya's great recession
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."
Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?
A Yes.
Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?
A Banks.
Q WHY??!?!!!?!
A Two reasons, greed and Bush's regulators let them.
....Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank's capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
MY OLD ACCOUNT/POST
FACTS on Dubya's great recession
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
"Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.
Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."
http://www.usnews.com/opinion/blogs...rats-were-wrong-on-fannie-mae-and-freddie-mac
"Yet Barney Frank and his chums blocked all Bush's attempts to put a rein on Raines. During the House Financial Services Committee hearing following Bush's initiative, Frank declared: "The more people exaggerate a threat of safety and soundness [at Freddie Mac and Fannie Mae], the more people conjure up the possibility of serious financial losses to the Treasury which I do not see. I think we see entities that are fundamentally sound financially." His colleague on the committee, the California Democrat Maxine Walters, said: "There were nearly a dozen hearings where we were trying to fix something that wasn't broke. Mr Chairman, we do not have a crisis at Freddie Mac and particularly at Fannie Mae under the outstanding leadership of Mr Franklin Raines."
Bubble Meter: Barney Frank and Christopher Dodd deserve blame for Fannie and Freddie
- Moderator
- #89
I can't help but wonder if the Democrats in this image are cause for or give two shits about California's GDP. Your thoughts? Hahaha
By allowing people to keep what they earn?
NO ONE EARNED HUNDREDS OF MILLIONS!
Then how do you tax what no one earns?
Your inability to use your brain noted Bubba
I'm not the one who can't answer the questions
JonKoch
Gold Member
- May 14, 2017
- 1,779
- 151
- 130
"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."
Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?
A Yes.
Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?
A Banks.
Q WHY??!?!!!?!
A Two reasons, greed and Bush's regulators let them.
....Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank's capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
MY OLD ACCOUNT/POST
FACTS on Dubya's great recession
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
"Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.
Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."
http://www.usnews.com/opinion/blogs...rats-were-wrong-on-fannie-mae-and-freddie-mac
"Yet Barney Frank and his chums blocked all Bush's attempts to put a rein on Raines. During the House Financial Services Committee hearing following Bush's initiative, Frank declared: "The more people exaggerate a threat of safety and soundness [at Freddie Mac and Fannie Mae], the more people conjure up the possibility of serious financial losses to the Treasury which I do not see. I think we see entities that are fundamentally sound financially." His colleague on the committee, the California Democrat Maxine Walters, said: "There were nearly a dozen hearings where we were trying to fix something that wasn't broke. Mr Chairman, we do not have a crisis at Freddie Mac and particularly at Fannie Mae under the outstanding leadership of Mr Franklin Raines."
Bubble Meter: Barney Frank and Christopher Dodd deserve blame for Fannie and Freddie
Oh goodie, the snowflakes want to blame Barney Frank, the minority member of the GOP MAJORITY HOUSE 1995-2007??? The guy who could run nekkid and on fire and not stop a single GOP bill?
In the 109th Congress, Democrats supported bipartisan legislation drafted by the Republican Chairman of the House Financial Services Committee, Representative Oxley, which would have given the new GSE regulator broad authority over setting capital requirements and limiting portfolio size. This bill passed the House 331-90. Senate Democrats supported and offered the bill in the Senate, but the Bush Administration opposed it and the bill did not receive Republican support in the Senate. According to Mr. Oxley, the White House gave Congress and the GSE reform legislation "a one-finger salute."
10/26/2005-5:34pm House On passage Passed by recorded vote: 331 - 90 (Roll no. 547).
Actions - H.R.1461 - 109th Congress (2005-2006): Federal Housing Finance Reform Act of 2005
GSE reform "wasn't a priority of this Administration's. They quite frankly put it on the back burner. And now we see what we have." Douglas Holtz-Eakin, chief economic policy adviser to United States Senator John McCain's 2008 presidential campaign
MCCAINS "BILL" OH YOU MEAN THE ONE HE PUT HIS NAME ON AND MADE A TOTAL OF ONE FLOOR SPEECH IN SUPPORT OF IT, THE TOTALITY OF HIS INVOLVEMENT? You know the one he signed onto MONTHS after it was presented???
That bill got out of the Senate Committee but WASN'T called for a vote BY the GOP SENATE? Why?
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005
...In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.
In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.
"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.
Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005
2 UNFUNDED TAX CUTS, 2 UNFUNDED WARS, UNFUNDED MEDICARE EXPANSION THAT COSTS AS MUCH AS OBAMACARES 2013-2020 ACCORDING TO CBO, AND BILL TO GET BETWEEN A MAN AND HIS WIFE (SCHIAVO), BUT DUBYA COULDN'T GET GSE REFORM THROUGH????
LMAOROG
JonKoch
Gold Member
- May 14, 2017
- 1,779
- 151
- 130
By allowing people to keep what they earn?
NO ONE EARNED HUNDREDS OF MILLIONS!
Then how do you tax what no one earns?
Your inability to use your brain noted Bubba
I'm not the one who can't answer the questions
Which question Bubba, that ANYONE could actually EARN hundreds of millions in a single year?
- Moderator
- #92
Progressives didn't exist until after the civil war. How could they have freed the slaves?
No. It was the conservatives aka the classical liberals who founded the Republican party. Who believed that all men are created equal and endowed by their creator with certain unalienable rights who fought for and end go slavery and still do..
It was progressives who pushes for segregation under the Wilson administration. It's progressives who still support abortion and planned parenthood which was founded to eliminate "deplorable" racial and ethnic minorities.
Sorry my friend bur you've been lied to.
"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."
Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?
A Yes.
Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?
A Banks.
Q WHY??!?!!!?!
A Two reasons, greed and Bush's regulators let them.
....Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank's capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
MY OLD ACCOUNT/POST
FACTS on Dubya's great recession
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
"Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.
Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."
http://www.usnews.com/opinion/blogs...rats-were-wrong-on-fannie-mae-and-freddie-mac
"Yet Barney Frank and his chums blocked all Bush's attempts to put a rein on Raines. During the House Financial Services Committee hearing following Bush's initiative, Frank declared: "The more people exaggerate a threat of safety and soundness [at Freddie Mac and Fannie Mae], the more people conjure up the possibility of serious financial losses to the Treasury which I do not see. I think we see entities that are fundamentally sound financially." His colleague on the committee, the California Democrat Maxine Walters, said: "There were nearly a dozen hearings where we were trying to fix something that wasn't broke. Mr Chairman, we do not have a crisis at Freddie Mac and particularly at Fannie Mae under the outstanding leadership of Mr Franklin Raines."
Bubble Meter: Barney Frank and Christopher Dodd deserve blame for Fannie and Freddie
Oh goodie, the snowflakes want to blame Barney Frank, the minority member of the GOP MAJORITY HOUSE 1995-2007??? The guy who could run nekkid and on fire and not stop a single GOP bill?
In the 109th Congress, Democrats supported bipartisan legislation drafted by the Republican Chairman of the House Financial Services Committee, Representative Oxley, which would have given the new GSE regulator broad authority over setting capital requirements and limiting portfolio size. This bill passed the House 331-90. Senate Democrats supported and offered the bill in the Senate, but the Bush Administration opposed it and the bill did not receive Republican support in the Senate. According to Mr. Oxley, the White House gave Congress and the GSE reform legislation "a one-finger salute."
10/26/2005-5:34pm House On passage Passed by recorded vote: 331 - 90 (Roll no. 547).
Actions - H.R.1461 - 109th Congress (2005-2006): Federal Housing Finance Reform Act of 2005
GSE reform "wasn't a priority of this Administration's. They quite frankly put it on the back burner. And now we see what we have." Douglas Holtz-Eakin, chief economic policy adviser to United States Senator John McCain's 2008 presidential campaign
MCCAINS "BILL" OH YOU MEAN THE ONE HE PUT HIS NAME ON AND MADE A TOTAL OF ONE FLOOR SPEECH IN SUPPORT OF IT, THE TOTALITY OF HIS INVOLVEMENT? You know the one he signed onto MONTHS after it was presented???
That bill got out of the Senate Committee but WASN'T called for a vote BY the GOP SENATE? Why?
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005
...In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.
In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.
"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.
Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005
2 UNFUNDED TAX CUTS, 2 UNFUNDED WARS, UNFUNDED MEDICARE EXPANSION THAT COSTS AS MUCH AS OBAMACARES 2013-2020 ACCORDING TO CBO, AND BILL TO GET BETWEEN A MAN AND HIS WIFE (SCHIAVO), BUT DUBYA COULDN'T GET GSE REFORM THROUGH????
LMAOROG
A thousand monkeys sitting at typewriters will eventually produce Hamlet, but in the meantime they write your posts
JonKoch
Gold Member
- May 14, 2017
- 1,779
- 151
- 130
"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."
Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?
A Yes.
Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?
A Banks.
Q WHY??!?!!!?!
A Two reasons, greed and Bush's regulators let them.
....Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank's capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
MY OLD ACCOUNT/POST
FACTS on Dubya's great recession
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
"Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.
Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."
http://www.usnews.com/opinion/blogs...rats-were-wrong-on-fannie-mae-and-freddie-mac
"Yet Barney Frank and his chums blocked all Bush's attempts to put a rein on Raines. During the House Financial Services Committee hearing following Bush's initiative, Frank declared: "The more people exaggerate a threat of safety and soundness [at Freddie Mac and Fannie Mae], the more people conjure up the possibility of serious financial losses to the Treasury which I do not see. I think we see entities that are fundamentally sound financially." His colleague on the committee, the California Democrat Maxine Walters, said: "There were nearly a dozen hearings where we were trying to fix something that wasn't broke. Mr Chairman, we do not have a crisis at Freddie Mac and particularly at Fannie Mae under the outstanding leadership of Mr Franklin Raines."
Bubble Meter: Barney Frank and Christopher Dodd deserve blame for Fannie and Freddie
Snowflake, snowflake, snowflake
Poor Dubya had no power to get GSE reform done in the GOP Congress and was rebuffed by the mean old Dems huh?
PLEASE explain how Dems could block ANYTHING in the GOP majority House where simple majority ruled?
But NO IT WASN'T GSE's that were the problem snowflake, though Dubya and HIS policies did criplle F/F!
GSE Critics Ignore Loan Performance
There is no data anywhere to cast doubt on the vastly superior loan performance of the GSEs. Year after year, decade after decade, before, during and after the housing crash, GSE loan performance has consistently been two-to-six times better than that of any other segment of the market. The numbers are irrefutable, and they show that the entire case against GSE underwriting standards, and their role in the financial crisis, is based on social stereotyping, smoke and mirrors, and little else.
AMERICAN BANKER:
GSE Critics Ignore Loan Performance
Testimony from W's Treasury Secretary John Snow to the REPUBLICAN CONGRESS concerning the 'regulation of the GSE's 2004
Mr.BARNEY Frank: ...Are we in a crisis now with these entities?
Secretary Snow. No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
October 26, 2005
STATEMENT OF ADMINISTRATION POLICY
The Administration strongly believes that the housing GSEs should be focused on their core housing mission, particularly with respect to low-income Americans and first-time homebuyers. Instead, provisions of H.R. 1461 that expand mortgage purchasing authority would lessen the housing GSEs' commitment to low-income homebuyers.
George W. Bush: Statement of Administration Policy: H.R. 1461 - Federal Housing Finance Reform Act of 2005
Yes, he said he was against it because it "would lessen the housing GSEs' commitment to low-income homebuyers"
THAT WAS THE ONLY BILL TO MAKE IT OUT OF EITHER HOUSE OF CONGRESS 2001-2007 ON F/F REFORM, YOU KNOW WHERE BARNEY FRANK THE MINORITY MEMBER HAD ZERO POWER TO STOP A SINGLE BILL?
June 17, 2004
(CNN/Money) - Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday.
Home builders fight Bush's low-income housing - Jun. 17, 2004
FACTS on Dubya's great recession
JonKoch
Gold Member
- May 14, 2017
- 1,779
- 151
- 130
LMAOROG, Too funny Bubba
You wingnutters are not only dumb, but brainwashed. MOST LIBERAL GUYS OF THEIR DAYS WERE THE US FOUNDERS!
JonKoch
Gold Member
- May 14, 2017
- 1,779
- 151
- 130
"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."
Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?
A Yes.
Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?
A Banks.
Q WHY??!?!!!?!
A Two reasons, greed and Bush's regulators let them.
....Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank's capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
MY OLD ACCOUNT/POST
FACTS on Dubya's great recession
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
"Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.
Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."
http://www.usnews.com/opinion/blogs...rats-were-wrong-on-fannie-mae-and-freddie-mac
"Yet Barney Frank and his chums blocked all Bush's attempts to put a rein on Raines. During the House Financial Services Committee hearing following Bush's initiative, Frank declared: "The more people exaggerate a threat of safety and soundness [at Freddie Mac and Fannie Mae], the more people conjure up the possibility of serious financial losses to the Treasury which I do not see. I think we see entities that are fundamentally sound financially." His colleague on the committee, the California Democrat Maxine Walters, said: "There were nearly a dozen hearings where we were trying to fix something that wasn't broke. Mr Chairman, we do not have a crisis at Freddie Mac and particularly at Fannie Mae under the outstanding leadership of Mr Franklin Raines."
Bubble Meter: Barney Frank and Christopher Dodd deserve blame for Fannie and Freddie
Oh goodie, the snowflakes want to blame Barney Frank, the minority member of the GOP MAJORITY HOUSE 1995-2007??? The guy who could run nekkid and on fire and not stop a single GOP bill?
In the 109th Congress, Democrats supported bipartisan legislation drafted by the Republican Chairman of the House Financial Services Committee, Representative Oxley, which would have given the new GSE regulator broad authority over setting capital requirements and limiting portfolio size. This bill passed the House 331-90. Senate Democrats supported and offered the bill in the Senate, but the Bush Administration opposed it and the bill did not receive Republican support in the Senate. According to Mr. Oxley, the White House gave Congress and the GSE reform legislation "a one-finger salute."
10/26/2005-5:34pm House On passage Passed by recorded vote: 331 - 90 (Roll no. 547).
Actions - H.R.1461 - 109th Congress (2005-2006): Federal Housing Finance Reform Act of 2005
GSE reform "wasn't a priority of this Administration's. They quite frankly put it on the back burner. And now we see what we have." Douglas Holtz-Eakin, chief economic policy adviser to United States Senator John McCain's 2008 presidential campaign
MCCAINS "BILL" OH YOU MEAN THE ONE HE PUT HIS NAME ON AND MADE A TOTAL OF ONE FLOOR SPEECH IN SUPPORT OF IT, THE TOTALITY OF HIS INVOLVEMENT? You know the one he signed onto MONTHS after it was presented???
That bill got out of the Senate Committee but WASN'T called for a vote BY the GOP SENATE? Why?
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005
...In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.
In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.
"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.
Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005
2 UNFUNDED TAX CUTS, 2 UNFUNDED WARS, UNFUNDED MEDICARE EXPANSION THAT COSTS AS MUCH AS OBAMACARES 2013-2020 ACCORDING TO CBO, AND BILL TO GET BETWEEN A MAN AND HIS WIFE (SCHIAVO), BUT DUBYA COULDN'T GET GSE REFORM THROUGH????
LMAOROG
A thousand monkeys sitting at typewriters will eventually produce Hamlet, but in the meantime they write your posts
I agree Bubs, why don't YOU explain how Barney Frank could stop ANYTHING Dubya/GOP wanted??? PRETTY PLEASE?
17 Times Dubya "warned", LMAOROG, AS he pushed his "home ownership society" ponzi scheme BECAUSE he had less than 1% growth EVERY YEAR WITHOUT HOME OWNERS USING THEIR HOMES AS ATM'S!!!
iceberg
Diamond Member
- May 15, 2017
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saves him from having to read the post, much less understand it.
JonKoch
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"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."
Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?
A Yes.
Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?
A Banks.
Q WHY??!?!!!?!
A Two reasons, greed and Bush's regulators let them.
....Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)
Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals
Lowering Invesntment bank's capital requirements, Net Capital rule
Reversing the Clinton rule that restricted GSEs purchases of subprime loans
Lowering down payment requirements to 0%
Forcing GSEs to spend an additional $440 billion in the secondary markets
Giving away 40,000 free down payments
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING
But the biggest policy was regulators not enforcing lending standards.
MY OLD ACCOUNT/POST
FACTS on Dubya's great recession
Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse
"Democrats Were Wrong on Fannie Mae and Freddie Mac
The White House called for tighter regulation 17 times.
Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."
http://www.usnews.com/opinion/blogs...rats-were-wrong-on-fannie-mae-and-freddie-mac
"Yet Barney Frank and his chums blocked all Bush's attempts to put a rein on Raines. During the House Financial Services Committee hearing following Bush's initiative, Frank declared: "The more people exaggerate a threat of safety and soundness [at Freddie Mac and Fannie Mae], the more people conjure up the possibility of serious financial losses to the Treasury which I do not see. I think we see entities that are fundamentally sound financially." His colleague on the committee, the California Democrat Maxine Walters, said: "There were nearly a dozen hearings where we were trying to fix something that wasn't broke. Mr Chairman, we do not have a crisis at Freddie Mac and particularly at Fannie Mae under the outstanding leadership of Mr Franklin Raines."
Bubble Meter: Barney Frank and Christopher Dodd deserve blame for Fannie and Freddie
Oh goodie, the snowflakes want to blame Barney Frank, the minority member of the GOP MAJORITY HOUSE 1995-2007??? The guy who could run nekkid and on fire and not stop a single GOP bill?
In the 109th Congress, Democrats supported bipartisan legislation drafted by the Republican Chairman of the House Financial Services Committee, Representative Oxley, which would have given the new GSE regulator broad authority over setting capital requirements and limiting portfolio size. This bill passed the House 331-90. Senate Democrats supported and offered the bill in the Senate, but the Bush Administration opposed it and the bill did not receive Republican support in the Senate. According to Mr. Oxley, the White House gave Congress and the GSE reform legislation "a one-finger salute."
10/26/2005-5:34pm House On passage Passed by recorded vote: 331 - 90 (Roll no. 547).
Actions - H.R.1461 - 109th Congress (2005-2006): Federal Housing Finance Reform Act of 2005
GSE reform "wasn't a priority of this Administration's. They quite frankly put it on the back burner. And now we see what we have." Douglas Holtz-Eakin, chief economic policy adviser to United States Senator John McCain's 2008 presidential campaign
MCCAINS "BILL" OH YOU MEAN THE ONE HE PUT HIS NAME ON AND MADE A TOTAL OF ONE FLOOR SPEECH IN SUPPORT OF IT, THE TOTALITY OF HIS INVOLVEMENT? You know the one he signed onto MONTHS after it was presented???
That bill got out of the Senate Committee but WASN'T called for a vote BY the GOP SENATE? Why?
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005
...In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.
In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.
"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.
Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005
2 UNFUNDED TAX CUTS, 2 UNFUNDED WARS, UNFUNDED MEDICARE EXPANSION THAT COSTS AS MUCH AS OBAMACARES 2013-2020 ACCORDING TO CBO, AND BILL TO GET BETWEEN A MAN AND HIS WIFE (SCHIAVO), BUT DUBYA COULDN'T GET GSE REFORM THROUGH????
LMAOROG
A thousand monkeys sitting at typewriters will eventually produce Hamlet, but in the meantime they write your posts
I'll wait patiently for you to explain how Dems in the House, including Barney, could block ANY GOP bill under Dubya 2001-2007?
Did someone just fart in here?
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