SmarterThanTheAverageBear
Gold Member
- Aug 22, 2014
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- #81
Lets recap shall we? Clinton made it so people who could not afford homes were able to buy them. When Bush and Mc Cain tried 3 separate times to rein in the Housing Market Dodd and Franks lead the Congress successfully to oppose a reined in Housing market. In fact months before the collapse Franks was on national TV INSISTING the market was sound and the ONLY danger it faced was more regulations.h1
Oh bullshit. Only other racists and Callous Conservatives will believe this ^^^ crap.
Everyone of us alive and aware remember efforts by the lenders to one up each other in granting loans. Hell, we must of gotten a letter a day seeking to convince us to refi (of course we never did): Free money, your house will continue to accrue equity so be happy,. don't worry!
People like you and the the self defined experts stink. The experts convinced people to sign here, here and here and be assured, your home will be worth much more five years from now when that balloon payment is due. And we know what happened next. The bigger crime is the White Collar Criminals didn't get sent to prison.
And what did Wells and BofA and other financial service companies do with those loans? The defrauded other investors, even pension funds, by bundling loans they suspected would default and sold them to make more money.
I never claimed to be anything other than a Conservative.
If it is callous to expect that people are responsible for their decisions and actions ... I am guilty of that. I never claimed to be a financial expert ... But I can read the terms of a loan agreement and know whether or not I can afford the payments. I understand that an adjustable rate mortgage means the rate can increase (why I in my lack of expertise chose a fixed rate mortgage).
None of anything you have expressed deals with the fact derivatives are not exclusive to housing securities ... Nor that they are illegal or are required to defraud investors.
I am not arguing with the fact you are pissed at lenders ... I am only callous in saying I don't give a rat's ass that you are.
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Oh, we agree, people should be held responsible for their decisions. We hire agents to represent us, when they only represent their own interests I believe, as you should, that they too need to be held responsible.
Real estate agents, real estate brokers lending agents, etc. saw an opportunity to make a lot of money, and they gave piss poor advice to the people you blame; people not trained, maybe not the sharpest knife in the drawer, trusting and thus gullible. None of those are criminal actions regulated by the government.
Agents and brokers, bankers and such are not supposed to take advantage of their customers, YET THEY DID! And I suppose as a conservative, likely a callous conservative, you don't give a shit. Let the buyer beware is likely your motto, as well as I got mine, fuck the rest of you (the code of ethics of your kind).
I'm no more pissed at the lenders as I am pissed at purse snatchers or drug dealers or other career criminals. The difference being the former get sent to jail, and the latter go to The Hamptons.
So remind me? When Bush and McCain tried to rein in the Housing Market who did YOU side with?
BUT BUT BUT BOOOOOOOOOOOOOOOSH