Banks should never be forced to give subprime loans.

[g5000]

That is what created the housing bubble, which finally burst and caused a meltdown.

That sentence is comically inaccurate. Why do Repubs have such a problem admitting to the real causes of the financial crisis? Oh.........wait...........I know...........because Repubs are largely responsible.

No, the CRA Did Not Cause the Financial Crisis
No, the CRA Did Not Cause the Financial Crisis - The Big Picture

They don't want to know.

I've tried. I've given them a great deal of detail. They literally don't know what I'm talking about, nor are they curious enough to educate themselves.

They're happy to just believe the stories they're told.
.

So long as that story can fit on a bumper sticker or in a tweet.

 

[RandomPoster]

That is what created the housing bubble, which finally burst and caused a meltdown.

That sentence is comically inaccurate. Why do Repubs have such a problem admitting to the real causes of the financial crisis? Oh.........wait...........I know...........because Repubs are largely responsible.

No, the CRA Did Not Cause the Financial Crisis
No, the CRA Did Not Cause the Financial Crisis - The Big Picture

They don't want to know.

I've tried. I've given them a great deal of detail. They literally don't know what I'm talking about, nor are they curious enough to educate themselves.

They're happy to just believe the stories they're told.
.

So long as that story can fit on a bumper sticker or in a tweet.

As opposed to a long winded deflection onto everything except the CRA being used to manipulate the lending habits of private banks who are attempting to service the community. Everything you listed has its roots in government interference. Again, no government bailouts, except then if there are no bail outs, the government should also not pressure banks into giving loans they don't WANT to give. Also, no bail out of irresponsible borrowers either. Get the government out of it.

 

[g5000]

That is what created the housing bubble, which finally burst and caused a meltdown.

That sentence is comically inaccurate. Why do Repubs have such a problem admitting to the real causes of the financial crisis? Oh.........wait...........I know...........because Repubs are largely responsible.

No, the CRA Did Not Cause the Financial Crisis
No, the CRA Did Not Cause the Financial Crisis - The Big Picture

They don't want to know.

I've tried. I've given them a great deal of detail. They literally don't know what I'm talking about, nor are they curious enough to educate themselves.

They're happy to just believe the stories they're told.
.

So long as that story can fit on a bumper sticker or in a tweet.

As opposed to a long winded deflection onto everything except the CRA being used to manipulate the lending habits of private banks who are attempting to service the community. Everything you listed has its roots in government interference. Again, no government bailouts, except then if there are no bail outs, the government should also not pressure banks into giving loans they don't WANT to give. Also, no bail out of irresponsible borrowers either. Get the government out of it.

The bailouts have nothing to do with the CRA. You are moving the goalposts now.

I'm all for failing banks to be handled the same way LTCM was.

 

[ColonelAngus]

Banks make their money by lending money, charging a legal amount interest, and getting paid back. They like to lend money. However, they do not like to lend money to people who look like a bad investment on paper. It's nothing personal. We need to repeal Jimmy Carter's Community Reinvestment Act. Let the banks run their business as a business and stop forcing them to give out subprime loans. That is what created the housing bubble, which finally burst and caused a meltdown. Too many people were taking out loans they shouldn't be taking out and that should not be offered to them. This caused a bubble in housing prices, which spawned more housing market activity and caused it all to swell until it finally burst. Carter, Clinton, and even Bush were guilty. Deregulate the banks and let them worry about the bottom line instead of forcing them to follow a bad business model for socio-political reasons. We will all benefit from it. Fanny Mae and Freddie Mac should be repealed as well.

That POS Jimmy Carter was the genesis of the housing collapse of 2007.

What a shit POTUS.

 

[RandomPoster]

That is what created the housing bubble, which finally burst and caused a meltdown.

That sentence is comically inaccurate. Why do Repubs have such a problem admitting to the real causes of the financial crisis? Oh.........wait...........I know...........because Repubs are largely responsible.

No, the CRA Did Not Cause the Financial Crisis
No, the CRA Did Not Cause the Financial Crisis - The Big Picture

They don't want to know.

I've tried. I've given them a great deal of detail. They literally don't know what I'm talking about, nor are they curious enough to educate themselves.

They're happy to just believe the stories they're told.
.

So long as that story can fit on a bumper sticker or in a tweet.

As opposed to a long winded deflection onto everything except the CRA being used to manipulate the lending habits of private banks who are attempting to service the community. Everything you listed has its roots in government interference. Again, no government bailouts, except then if there are no bail outs, the government should also not pressure banks into giving loans they don't WANT to give. Also, no bail out of irresponsible borrowers either. Get the government out of it.

The bailouts have nothing to do with the CRA. You are moving the goalposts now.

I'm all for failing banks to be handled the same way LTCM was.

The CRA does have to do with government coercion of banks to give loans. The bailouts are a promise to help the banks if such practices get them in trouble. If the CRA was not being used to coerce banks into giving loans they do not want to give, then why would it exist? It exists to coerce banks into behaving irresponsibly. Again, get the government out. No government manipulation of banking practices, whether it be coercing or encouraging irresponsible lending or borrowing.

 

[g5000]

That sentence is comically inaccurate. Why do Repubs have such a problem admitting to the real causes of the financial crisis? Oh.........wait...........I know...........because Repubs are largely responsible.

No, the CRA Did Not Cause the Financial Crisis
No, the CRA Did Not Cause the Financial Crisis - The Big Picture

They don't want to know.

I've tried. I've given them a great deal of detail. They literally don't know what I'm talking about, nor are they curious enough to educate themselves.

They're happy to just believe the stories they're told.
.

So long as that story can fit on a bumper sticker or in a tweet.

As opposed to a long winded deflection onto everything except the CRA being used to manipulate the lending habits of private banks who are attempting to service the community. Everything you listed has its roots in government interference. Again, no government bailouts, except then if there are no bail outs, the government should also not pressure banks into giving loans they don't WANT to give. Also, no bail out of irresponsible borrowers either. Get the government out of it.

The bailouts have nothing to do with the CRA. You are moving the goalposts now.

I'm all for failing banks to be handled the same way LTCM was.

The CRA does have to do with government coercion of banks to give loans. The bailouts are a promise to help the banks if such practices get them in trouble. If the CRA was not being used to coerce banks into giving loans they do not want to give, then why would it exist? It exists to coerce banks into behaving irresponsibly. Again, get the government out. No government manipulation of banking practices, whether it be coercing or encouraging irresponsible lending or borrowing.

Again, your fixation on the CRA is the result of heavy piss-drinking on your part. The CRA had fuck-all to do with the crash and the subsequent bailouts.

You are stuck on a hoax which was invented to blame the darkies for the global financial derivatives crash.

The CRA, as I explained, was created to counter the racist lending practices of banks. To offset "redlining". Ask your local negro about it, if you know any.

The CRA is as connected to the crash as popcorn is connected to disco. It is nonsensical and immediately betrays the ignorance of those who peddle that horseshit.

 

[Mac1958]

IT WASN'T THE LOANS ON A MACRO SCALE

IT'S WHAT THE BANKS, SWAP ISSUERS AND RATINGS AGENCIES GOT AWAY WITH WHEN THEY GOT THEIR FUCKING HANDS ON THEM, AND HOW THEY LEVERAGED THEMSELVES TO THE FUCKING STRATOSPHERE TO KEEP THE SHIT SECURITIES FLOWING AND THE FEES COMING IN

god damn
.

 

[RandomPoster]

They don't want to know.

I've tried. I've given them a great deal of detail. They literally don't know what I'm talking about, nor are they curious enough to educate themselves.

They're happy to just believe the stories they're told.
.

So long as that story can fit on a bumper sticker or in a tweet.

As opposed to a long winded deflection onto everything except the CRA being used to manipulate the lending habits of private banks who are attempting to service the community. Everything you listed has its roots in government interference. Again, no government bailouts, except then if there are no bail outs, the government should also not pressure banks into giving loans they don't WANT to give. Also, no bail out of irresponsible borrowers either. Get the government out of it.

The bailouts have nothing to do with the CRA. You are moving the goalposts now.

I'm all for failing banks to be handled the same way LTCM was.

The CRA does have to do with government coercion of banks to give loans. The bailouts are a promise to help the banks if such practices get them in trouble. If the CRA was not being used to coerce banks into giving loans they do not want to give, then why would it exist? It exists to coerce banks into behaving irresponsibly. Again, get the government out. No government manipulation of banking practices, whether it be coercing or encouraging irresponsible lending or borrowing.

Again, your fixation on the CRA is the result of heavy piss-drinking on your part. The CRA had fuck-all to do with the crash and the subsequent bailouts.

You are stuck on a hoax which was invented to blame the darkies for the global financial derivatives crash.

The CRA, as I explained, was created to counter the racist lending practices of banks. To offset "redlining". Ask your local negro about it, if you know any.

The CRA is as connected to the crash as popcorn is connected to disco. It is nonsensical and immediately betrays the ignorance of those who peddle that horseshit.

Redlining was not racist. The banks simply want to make money and no one is blaming black people. I am blaming the government, specifically Jimmy Carter, Bill Clinton, Bush Jr., and Barrack Obama. I'm sure there is plenty of blame to go around, mostly in the government. The fact that the problem is much larger than the Community Reinvestment Act and the fact that it is only one example of government meddling in the financial market does not change it from being a bad idea to a good idea. The CRA did contribute to the housing bubble and crash.

Banks should never be coerced into giving loans for any reason, ever.