Forbes Magazine: How Trump’s Deregulation Sowed The Seeds For Silicon Valley Bank’s Demise

[dudmuck]

In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods.

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Another myth is that the Community Reinvestment Act created the crisis. That's because it pushed banks to lend more to poor neighborhoods. That was its mandate when it was created in 1977.[9]

In 1989, Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) strengthened the CRA by publicizing banks' lending records. It prohibited them from expanding if they didn't comply with CRA standards. In 1995, President Clinton called on regulators to strengthen the CRA even more.[10]

But, the law did not require banks to make subprime loans. It didn't ask them to lower their lending standards. They did that to create additional profitable derivatives.

 

[Toddsterpatriot]

clinton had nothing to do with this, He did sign a GOP law glass steagall or whatever, hoping to get some compromise somewhere else. which he never did get. this is all GOP. I Don't wanna listen to your crap. countrywide sold more bad mortgages than Fannie and Freddie. Fannie and Freddie share of the market went from 75% to 30% and private firms run by GOP pals of W took over the market and ruined the world economy. again.

clinton had nothing to do with this,

Clinton had nothing to do with regulations governing how many subprime mortgages Fannie and Freddie had to buy? You're lying.

I Don't wanna listen to your crap.

Of course not. Facts hurt your tiny snowflake brain.

countrywide sold more bad mortgages than Fannie and Freddie.

Fannie and Freddie buy mortgages, moron.

 

[Toddsterpatriot]

russia and Ukraine did duhhhhh... Later much, troll.

Putin disrupted oil production by continuing to produce oil?

You're a special kind of stupid.

 

[Toddsterpatriot]

Low info Franco’s doesn’t like these facts....

These Countries Have The Lowest Inflation In The World

Investors are bracing for longer inflation. The Federal Reserve indicated that more restrictive monetary policy is in the cards amid strong employ...

markets.businessinsider.com

That article was written 2 weeks ago so it’s current. I do not see the US on that low inflation list.

We're not even among the best 50 countries and FrancoMoron thinks we're number 1.

I think franco is retarded.

 

[bigrebnc1775]

Another myth is that the Community Reinvestment Act created the crisis. That's because it pushed banks to lend more to poor neighborhoods. That was its mandate when it was created in 1977.[9]

In 1989, Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) strengthened the CRA by publicizing banks' lending records. It prohibited them from expanding if they didn't comply with CRA standards. In 1995, President Clinton called on regulators to strengthen the CRA even more.[10]

But, the law did not require banks to make subprime loans. It didn't ask them to lower their lending standards. They did that to create additional profitable derivatives.

Take your lies and shove them up your ass

 

[francoHFW]

No, Bush warned Congress this wasn’t going to end well. And Frank, you, and others all laughed and said everything was fine. Until it wasn't. But continue your fantasy...

BS. Of course everyone in charge said everything was fine, everyone did so that's ridiculous. and Bernie Frank was talking about Fannie and Freddie which had very little to do with it, got in late, their market share went from 75% to 30% and went to private scam GOP firms basically. Great job as always. You people will never figure it out, so brainwashed it's absolutely pathetic The world is aghast

 

[bigrebnc1775]

clinton had nothing to do with this, He did sign a GOP law glass steagall or whatever, hoping to get some compromise somewhere else. which he never did get. this is all GOP. I Don't wanna listen to your crap. countrywide sold more bad mortgages than Fannie and Freddie. Fannie and Freddie share of the market went from 75% to 30% and private firms run by GOP pals of W took over the market and ruined the world economy. again.

Freddy and fannie was created by Congress Clinton most assuredly had a say in how they conducted business

 

[bigrebnc1775]

BS. Of course everyone in charge said everything was fine, everyone did so that's ridiculous. and Bernie Frank was talking about Fannie and Freddie which had very little to do with it, got in late, their market share went from 75% to 30% and went to private scam GOP firms basically. Great job as always. You people will never figure it out, so brainwashed it's absolutely pathetic The world is aghast

Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis | The American Presidency Project

www.presidency.ucsb.edu

 

[francoHFW]

Freddy and fannie was created by Congress Clinton most assuredly had a say in how they conducted business

What a load of crap LOL. and Fannie and Freddie basically had nothing to do with this except on your garbage propaganda machine and lying GOP politicians. They do it every time Corrupt deregulation.. bubble and bust recession or depression.

 

[francoHFW]

Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis | The American Presidency Project

www.presidency.ucsb.edu

That is some real crappy scam propaganda outlet you got there old thing lol....

 

[bigrebnc1775]

What a load of crap LOL. and Fannie and Freddie basically had nothing to do with this except on your garbage propaganda machine and lying GOP politicians. They do it every time Corrupt deregulation.. bubble and bust recession or depression.

Wrong

 

[bigrebnc1775]

That is some real crappy scam propaganda outlet you got there old thing lol....

Bipartisan source

 

[Dragonlady]

From record highs.
(must have just slipped your mind, right?)

Being wiped out by inflation.

Telling half the story is fun, isn't it?

You forgot about the American Rescue Plan which lifted 45 million Americans out of poverty, which the Biden Administration wants to make permanent. This is the biggest poverty reduction in American history, and this has helped to limit the impact of the worldwide inflation and high gas prices.

Biden wasn't responsible for the record high prices, which are world wide, but he is the world leader who has shown the greatest success in lowering gas prices. We're still paying about $1.10 a gallon more than we were before the pandemic in Southern 0ntario. My electric bill went up 30% this year.

These people have less debt, less illness, less poverty, and full employment. All things they didn't have under Donald Trump.

 

[bigrebnc1775]

You forgot about the American Rescue Plan which lifted 45 million Americans out of poverty, which the Biden Administration wants to make permanent. This is the biggest poverty reduction in American history, and this has helped to limit the impact of the worldwide inflation and high gas prices.

Biden wasn't responsible for the record high prices, which are world wide, but he is the world leader who has shown the greatest success in lowering gas prices. We're still paying about $1.10 a gallon more than we were before the pandemic in Southern 0ntario. My electric bill went up 30% this year.

These people have less debt, less illness, less poverty, and full employment. All things they didn't have under Donald Trump.

That's some funny lies you saying
The official poverty rate in 2021 was 11.6 percent, with 37.9 million people in poverty. Neither the rate nor the number in poverty was significantly different from 2020

 

[Leo123]

yeah, how dare he invade Ukraine and upset 15% of the world's oil and grain production lol. Everyone in the world but you fools knows that's what caused the inflation- and because of Biden's policies we have less of it than anyone else in the world. Try reality. The "Democratic" MSM corporate news never mentions that either. they're pathetic too. Always good to have the crony Republicans deregulating and causing corruption like this. Try reality get your courage up and change the channel and see what the world is actually up to.

Actually Biden crowing about ending fossil fuels and rolling back Trump's energy policies gave Putin the impetus to invade. Biden's over spending is what is causing sky high inflation exacerbated by the highest fuel prices in decades. Interest rates are highest in many decades and now banks are collapsing. Deregulation makes sense in a booming economy which is what we had with Trump.

 

[Dirk the Daring]

You forgot about the American Rescue Plan which lifted 45 million Americans out of poverty, which the Biden Administration wants to make permanent. This is the biggest poverty reduction in American history, and this has helped to limit the impact of the worldwide inflation and high gas prices.

Biden wasn't responsible for the record high prices, which are world wide, but he is the world leader who has shown the greatest success in lowering gas prices. We're still paying about $1.10 a gallon more than we were before the pandemic in Southern 0ntario. My electric bill went up 30% this year.

These people have less debt, less illness, less poverty, and full employment. All things they didn't have under Donald Trump.

Biden's plan to reduce gas prices was to drain the Strategic Petroleum Reserve down to the lowest level since 1984. When Trump wanted to fill the reserve at $24 a barrel, the ignorant Lefties cried that it was a 'bailout to oil industry.' Now however, Biden will be refilling it at upwards of $80 a barrel. On top of this, gas prices in my area are STILL hovering right at $3 a gallon. Just more short-sightedness from the Dummycrats...

Bloomberg - Are you a robot?

 

[Leo123]

You forgot about the American Rescue Plan which lifted 45 million Americans out of poverty, which the Biden Administration wants to make permanent. This is the biggest poverty reduction in American history, and this has helped to limit the impact of the worldwide inflation and high gas prices.

Biden wasn't responsible for the record high prices, which are world wide, but he is the world leader who has shown the greatest success in lowering gas prices. We're still paying about $1.10 a gallon more than we were before the pandemic in Southern 0ntario. My electric bill went up 30% this year.

These people have less debt, less illness, less poverty, and full employment. All things they didn't have under Donald Trump.

No government 'rescue plan' has ever worked. In fact, the ONLY thing such programs do is create more useless government bureaucrats. When Biden rolled back Trump's energy policies, he became responsible for record high prices, broken supply chains, and giving billions to Putin to pay for his invasion of Ukraine. You live in liberal la la land, expect more government pain.

 

[Nostra]

it has to do with the fact that you have absolutely no clue about reality and only have a couple of propaganda BS talking points and a bunch of hateful gossip and insults..... when do you ignoramuses figure out that the GOP always deregulates so we always have a corrupt bubble and bust with them every time and this is just another example. Your party is a lying greedy idiot disgrace and catastrophe for the world The last 100 years.... hating Trump and your lying anti American garbage propaganda is hardly lunacy... everyone in the world does except for you people in the GOP base Idiot bigot group....

Cool unhinged rant, Simp.

WTF does it have to do with this opinion piece from a Trump hating loon?

 

[Dragonlady]

How many sub-prime mortgages did Clinton force Fannie and Freddie to buy?

What do you think francoHFW ?

Was it a lot?

Legislators were SCREAMING to have Fannie and Freddie get into the subprime mortgage market because there is so much money to be made on them. That's because the fees are all front end loaded. Lenders fees, brokerage fees, legal fees. I've seen borrowers getting $35,000 on a $50,000 loan. The rest went to fees. Then the lender sells the high interest subprime loan to an investor.

The investor will pay $50,000 face value for the loan, because of the higher yield on the money and a supposedly secure loan.

 

[Toddsterpatriot]

Legislators were SCREAMING to have Fannie and Freddie get into the subprime mortgage market because there is so much money to be made on them. That's because the fees are all front end loaded. Lenders fees, brokerage fees, legal fees. I've seen borrowers getting $35,000 on a $50,000 loan. The rest went to fees. Then the lender sells the high interest subprime loan to an investor.

The investor will pay $50,000 face value for the loan, because of the higher yield on the money and a supposedly secure loan.

Legislators were SCREAMING to have Fannie and Freddie get into the subprime mortgage market because there is so much money to be made on them.

So, these legislators are partially to blame for the RE bubble. Thanks!

That's because the fees are all front end loaded. Lenders fees, brokerage fees, legal fees. I've seen borrowers getting $35,000 on a $50,000 loan. The rest went to fees. Then the lender sells the high interest subprime loan to an investor.

The originators sell to Fannie and Freddie. F&F don't originate a thing.

You want to revise your claims?