GOP looking to weaken financial regulation law

[oreo]

Any conservatives think this is wise after the worst recession in this great nation's history?
GOP uses budget, other tools to sap financial law - politics - Capitol Hill - msnbc.com

WASHINGTON — Congressional Republicans are greeting the one-year anniversary of President Barack Obama's financial overhaul law by trying to weaken it, nibble by nibble.

Well, at least we know who they work for

In was DEMOCRATS that deregulated banking and Wall Street Bankers in the 1990's and this root cause of this current economic collapse. Democrats also eliminated the Glass/Stegal act of the 1930's.

Basically co-signing our names to 50% of the mortgages in this country--while pressuring banks (fannie/freddie) to lower their lending standards. No down payment--no collateral--less than a desirable credit rating--along with sub-prime lending could by you a 400K custom home. Why? Because they had 310 million American co-signers.

Robert Rubin--Clinton's treasury secretary along with Allan Greenspan fully supported and defended the derivitives markets--where Wall Street Bankers could buy up these mortgage backed securities and trade them in the black hole--aka the mother of all casinos. All warnings of an eminent collapse were ignored by both congressional and senate banking members. Basically the Federal Government built a house of cards that collapsed leaving the American taxpayer holding the bag.

Now--they've probably overdone it on banking regulations--and that is why banks are NOT lending to qualified buyers right now.

Fannie Mae Eases Credit To Aid Mortgage Lending - NYTimes.com

 

[The Rabbi]

Are you Frank 57? Anyway, facts are facts. Why is it that conservatives cringe from data/facts?

I wasnt aware this was a closed conversation. Take it to PM if it is.
Yoy wouldn't know a fact from a fork.
Why can you not answer Frank's question?

I pulled the carpet out from under his argument. Pay closer attn.

The Financial Crisis Inquiry Commission reported in 2011 that Fannie & Freddie "contributed to the crisis, but were not a primary cause." GSE mortgage securities essentially maintained their value throughout the crisis and did not contribute to the significant financial firm losses that were central to the financial crisis. The GSEs participated in the expansion of subprime and other risky mortgages, but they followed rather than led Wall Street and other lenders into subprime lending.

Why am I wasting my time explaining things to a conservative sheeple? I've seen your vacuous posts elsewhere @ the board and avoid wasting my time w/ you for a reason. Mkay? Good

You pulled nothing except a quotation out of your ass.
Frank asked you to explain it IN YOUR OWN WORDS. That means, don't just quote something or post a link.
Got it?

Geez, it's like I'm speaking Urdu sometimes.