How many more lies did Barney Frank participate in???

[Mac1958]

Why are you idiots in this thread arguing over these corrupt assholes as if your side is any better than the other??? You look like insane freaks and sound like it also. GWBush, Barney Franks, name your poison.. they were all instrumental in getting us in to financial suicide.. PERIOD.

Hey, remember the rule:

When the "other side" lies, it's a big deal.

When "my side" lies, it's not a big deal.



.

 

[Faun]

Why are you idiots in this thread arguing over these corrupt assholes as if your side is any better than the other??? You look like insane freaks and sound like it also. GWBush, Barney Franks, name your poison.. they were all instrumental in getting us in to financial suicide.. PERIOD.

Not saying Democrats are angels. I am saying that Republicans had complete control of the government at that time. That some Democrats were on the wrong side of that issue means nothing because they had no power. This is completely on Republicans. They were in charge and they dropped the ball. That would be like blaming the quarterback on the sideline for the interception thrown by the quarterback on the field. Even many [former] Republicans know this which is why they left the Republican party.

 

[LadyGunSlinger]

Why are you idiots in this thread arguing over these corrupt assholes as if your side is any better than the other??? You look like insane freaks and sound like it also. GWBush, Barney Franks, name your poison.. they were all instrumental in getting us in to financial suicide.. PERIOD.

Hey, remember the rule:

When the "other side" lies, it's a big deal.

When "my side" lies, it's not a big deal.



.

It's true.. I've witnessed here on a daily basis.

 

[LadyGunSlinger]

Why are you idiots in this thread arguing over these corrupt assholes as if your side is any better than the other??? You look like insane freaks and sound like it also. GWBush, Barney Franks, name your poison.. they were all instrumental in getting us in to financial suicide.. PERIOD.

Not saying Democrats are angels. I am saying that Republicans had complete control of the government at that time. That some Democrats were on the wrong side of that issue means nothing because they had no power. This is completely on Republicans. They were in charge and they dropped the ball. That would be like blaming the quarterback on the sideline for the interception thrown by the quarterback on the field. Even many [former] Republicans know this which is why they left the Republican party.

How many years did Democrats have control over both Houses Faun?? Really?? You want to play this stupid game? BOTH SIDES are responsible. Politics and politicians are corrupt to their very core.. Our country is bleeding to death while partisans care about sniping over assholes.

 

[Faun]

Why are you idiots in this thread arguing over these corrupt assholes as if your side is any better than the other??? You look like insane freaks and sound like it also. GWBush, Barney Franks, name your poison.. they were all instrumental in getting us in to financial suicide.. PERIOD.

Not saying Democrats are angels. I am saying that Republicans had complete control of the government at that time. That some Democrats were on the wrong side of that issue means nothing because they had no power. This is completely on Republicans. They were in charge and they dropped the ball. That would be like blaming the quarterback on the sideline for the interception thrown by the quarterback on the field. Even many [former] Republicans know this which is why they left the Republican party.

How many years did Democrats have control over both Houses Faun?? Really?? You want to play this stupid game? BOTH SIDES are responsible. Politics and politicians are corrupt to their very core.. Our country is bleeding to death while partisans care about sniping over assholes.

One year during the time of the real estate bubble. But by 2007, it was too late. And during that year, they passed two bills in the House, one of which also passed in the Senate and made it to Bush's desk in 2008.

Had Republicans done that years earlier, there probably wouldn't have been a financial meltdown.

 

[namvet]

Barney Frank 'Appalled' By Obama Administration: 'They Just Lied To People'

link

 

[AquaAthena]

Every Democrat in Congress lied about the GSEs, Fannie and Freddy.

It because of their lies and their refusals to go along the Republicans and President G. W. Bush and the proposed reforms that we had that horrible housing crash.

You mean this Barney Frank??? The one who tried to dissuade Bush from looking into something he saw going south with Fannie and Freddie? Bush should not have relied upon, or trusted Barney. From 2003 until his retirement, Frank was the leading Democrat on the House Financial Services Committee, and he served as committee chairman when his party held a House majority from 2007 to 2011

"The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see." Barney Frank....September 10, 2003

"These two entities, Fannie Mae and Freddie Mac---are not facing any kind of financial crisis." Barney Frank...September 11, 2003


"I want to roll the dice a little bit more in this situation towards subsidized housing." Barney Frank....September 25, 2003



"I believe there has been more alarm raised about potential unsafety and unsoundness [of Freddie Mac and Fannie Mae]
than in fact, exists." Barney Frank...September 25, 2003


"Fannie and Freddie are fundamentally sound, they are not in danger of going under.....I DO think their prospects going forward are very solid." Barney Frank....July 14, 2008

 

[Avatar4321]

How many lies are involved in government? Cause that's pretty much how many.

 

[healthmyths]

How many lies are involved in government? Cause that's pretty much how many.

The problem though is the majority of people that vote for Democrats are truly ignorant.
The majority of them believe every time the MSM report a crisis.. that the crisis is occurring ALL the time!
For example.. we have a mass shooting in a school.
How many of these ignorant people get all hysterical and exaggerate beyond proportion the event!
An exceptional rare event made to sound and the hysterical ignorant Democrats call for banning guns!
Hysterical claims blown out of proportion and the ignorant Democrats BELIEVE what the MSM pushes for that day's crisis!
Pump the crisis for a few days until the next crisis!
Sad!

 

[Dad2three]

Battling QUOTES!!!
The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001.
Unfortunately, Congress did not act on the president’s warnings:

** 2001

April: The Administration’s FY02 budget declares that the size of Fannie Mae and Freddie Mac is “a potential problem,” because “financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity.”

** 2002

May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

** 2003

January: Freddie Mac announces it has to restate financial results for the previous three years.

February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that “although investors perceive an implicit Federal guarantee of [GSE] obligations,” “the government has provided no explicit legal backing for them.” As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. (“Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO,” OFHEO Report, 2/4/03)

September: Fannie Mae discloses SEC investigation and acknowledges OFHEO’s review found earnings manipulations.

September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact “legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises” and set prudent and appropriate minimum capital adequacy requirements.

October: Fannie Mae discloses $1.2 billion accounting error.

November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any “legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk.” To reduce the potential for systemic instability, the regulator would have “broad authority to set both risk-based and minimum capital standards” and “receivership powers necessary to wind down the affairs of a troubled GSE.” (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

** 2004

February: The President’s FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: “The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator.” (2005 Budget Analytic Perspectives, pg. 83)

February: CEA Chairman Mankiw cautions Congress to “not take [the financial market's] strength for granted.” Again, the call from the Administration was to reduce this risk by “ensuring that the housing GSEs are overseen by an effective regulator.” (N. Gregory Mankiw, Op-Ed, “Keeping Fannie And Freddie’s House In Order,” Financial Times, 2/24/04)

June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying “We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System.” (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

** 2005

April: Treasury Secretary John Snow repeats his call for GSE reform, saying “Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America… Half-measures will only exacerbate the risks to our financial system.” (Secretary John W. Snow, “Testimony Before The U.S. House Financial Services Committee,” 4/13/05)

** 2007

July: Two Bear Stearns hedge funds invested in mortgage securities collapse.

August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying “first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options.” (President George W. Bush, Press Conference, The White House, 8/9/07)

September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.

December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying “These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I’ve called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon.” (President George W. Bush, Discusses Housing, The White House, 12/6/07)

** 2008

January: Bank of America announces it will buy Countrywide.

January: Citigroup announces mortgage portfolio lost $18.1 billion in value.

February: Assistant Secretary David Nason reiterates the urgency of reforms, says “A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully.” (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)

March: Bear Stearns announces it will sell itself to JPMorgan Chase.

March: President Bush calls on Congress to take action and “move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages.” (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)

April: President Bush urges Congress to pass the much needed legislation
and “modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes.” (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)

May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.

“Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans.” (President George W. Bush, Radio Address, 5/3/08)

“[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator.” (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)

“Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans.” (President George W. Bush, Radio Address, 5/31/08)

June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying “we need to pass legislation to reform Fannie Mae and Freddie Mac.” (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)

July: Congress heeds the President’s call for action and passes reform of Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
Pelosi Caught In Major Lie- Says Bush Didn't Warn Congress About Financial Crisis? Records Show He Warned Congress 17 Times in 2008 Alone | The Gateway Pundit

WEIRD, 17 TIMES AND DUBYA STILL FORCED F/F TO UP THEIR 'AFFORDABLE HOUSING GOALS' IN 2004 FROM 50% YO 56% AND DROPPED THE CLINTON RULE THAT REIGNED THEM IN? LOL

Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie


"(In 2000. CLINTON) HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay."




How HUD Mortgage Policy Fed The Crisis

"In 2004 (BUSH), the 2000 rules were dropped and high‐risk loans were again counted toward affordable housing goals."


http://www.prmia.org/sites/default/files/references/Fannie_Mae_and_Freddie_Mac_090911_v2.pdf


June 17, 2004


Builders to fight Bush's low-income plan

Groups ask HUD to rethink plan that would increase financing of homes to low-income people.


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


Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush’s President’s Working Group on Financial Markets October 2008

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”



Bush talked about reform. He talked and he talked. And then he stopped reform. (read that as many times as necessary. Bush stopped reform). And then he stopped it again. A million quotes cant change that.

WHY DIDN'T THE GOP CONGRESS DO ANYTHING ABOUT DUBYA'S 'WARNINGS'???


http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

You post a lot of good information, but the real estate bubble began before 2004, though what you detail certainly contributed to it and even accelerated it. But in 2003, I sold my home at roughly 80% higher than what I paid just a few years earlier. That was because the bubble had already begun and home values were highly over-valued and highly in demand. Some of my neighbors sold their home the same day they put a for sale sign in their front yard. No realtor involved and asking ridiculous prices. That was also in 2003.

Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush’s President’s Working Group on Financial Markets October 2008

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”



Q Did the Community Reinvestment Act under Carter/Clinton caused it?


A "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "


http://www.federalreserve.gov/newsevents/speech/20081203_analysis.pdf

 

[Dad2three]

As head of the powerful "house banking committee" Frank was charged with the responsibility for Fannie Mae. He told America that Fannie was solvent and it collapsed under his watch. Nobody ever asked him what the hell he was doing and he faded away and retired.

"As head of the powerful "house banking committee" "

YEAH, STARTING IN JAN 2007, AFTER DUBYA ALREADY DID MOST OF HIS DAMAGE!!!

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[Dad2three]

Why are you idiots in this thread arguing over these corrupt assholes as if your side is any better than the other??? You look like insane freaks and sound like it also. GWBush, Barney Franks, name your poison.. they were all instrumental in getting us in to financial suicide.. PERIOD.

Sure, 'both the same' lol

Weird how Reagan ignored regulator warnings that started in 1984 that would have stopped 90%+ of his S&L crisis, then Dubya did the same when the FBI warned in 2004 of an EPIDEMIC of mortgage fraud, what did Dubya do? He gutted them by 1,800+ agents of course and cheered on the Banksters in their WORLD WIDE CREDIT BUBBLE!

 

[Dad2three]

Why are you idiots in this thread arguing over these corrupt assholes as if your side is any better than the other??? You look like insane freaks and sound like it also. GWBush, Barney Franks, name your poison.. they were all instrumental in getting us in to financial suicide.. PERIOD.

Hey, remember the rule:

When the "other side" lies, it's a big deal.

When "my side" lies, it's not a big deal.



.

Yeah, 'both' sides were in charge of the regulators during Dubya's and Reagan's Bankster crisis's!

 

[Dad2three]

Why are you idiots in this thread arguing over these corrupt assholes as if your side is any better than the other??? You look like insane freaks and sound like it also. GWBush, Barney Franks, name your poison.. they were all instrumental in getting us in to financial suicide.. PERIOD.

Not saying Democrats are angels. I am saying that Republicans had complete control of the government at that time. That some Democrats were on the wrong side of that issue means nothing because they had no power. This is completely on Republicans. They were in charge and they dropped the ball. That would be like blaming the quarterback on the sideline for the interception thrown by the quarterback on the field. Even many [former] Republicans know this which is why they left the Republican party.

How many years did Democrats have control over both Houses Faun?? Really?? You want to play this stupid game? BOTH SIDES are responsible. Politics and politicians are corrupt to their very core.. Our country is bleeding to death while partisans care about sniping over assholes.

Weird, 70 years GSE's (F/F ) were around, AND only under Dubya's reign was there a problem? EVERY US Prez had a home push, what happened 2004-2007? lol

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[Dad2three]

Every Democrat in Congress lied about the GSEs, Fannie and Freddy.

It because of their lies and their refusals to go along the Republicans and President G. W. Bush and the proposed reforms that we had that horrible housing crash.

You mean this Barney Frank??? The one who tried to dissuade Bush from looking into something he saw going south with Fannie and Freddie? Bush should not have relied upon, or trusted Barney. From 2003 until his retirement, Frank was the leading Democrat on the House Financial Services Committee, and he served as committee chairman when his party held a House majority from 2007 to 2011

"The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see." Barney Frank....September 10, 2003

"These two entities, Fannie Mae and Freddie Mac---are not facing any kind of financial crisis." Barney Frank...September 11, 2003


"I want to roll the dice a little bit more in this situation towards subsidized housing." Barney Frank....September 25, 2003



"I believe there has been more alarm raised about potential unsafety and unsoundness [of Freddie Mac and Fannie Mae]
than in fact, exists." Barney Frank...September 25, 2003


"Fannie and Freddie are fundamentally sound, they are not in danger of going under.....I DO think their prospects going forward are very solid." Barney Frank....July 14, 2008

"You mean this Barney Frank??? The one who tried to dissuade Bush from looking into something he saw going south with Fannie and Freddie?"

PLEASE tell me the super powers Barney had in the GOP MAJORITY HOUSE 1995-2007? AND WHY DIDN'T DUBYA LISTEN TO HIM ON HIS DISASTROUS TAX CUTS OR UNFUNDED WARS? LOL



" Barney Frank....September 10, 2003, Barney Frank...September 11, 2003, Barney Frank....September 25, 2003, Barney Frank...September 25, 2003"

Testimony from W’s Treasury Secretary John Snow to the REPUBLICAN CONGRESS SEPTEMBER 10, 2003 concerning the 'regulation’ of the GSE’s
“
“
Mr. 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.“

THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES


- THE TREASURY DEPARTMENT'S VIEWS ON THE REGULATION OF GOVERNMENT SPONSORED ENTERPRISES





Strong opposition by the Bush administration forced a top Republican congressman to delay a vote on a bill that would create a new regulator for mortgage giants Fannie Mae and Freddie Mac.


Oxley pulls Fannie, Freddie bill under heat from Bush - MarketWatch


Despite what appeared to be a broad consensus on GSE regulatory reform, efforts quickly stalled. A legislative markup scheduled for October 8, 2003, in the House of Representatives was halted because the Bush administration withdrew its support for the bill,



"Fannie and Freddie are fundamentally sound, they are not in danger of going under.....I DO think their prospects going forward are very solid." Barney Frank....July 14, 2008

Weird, you mean he hoped, since Dems were passing GSE reforms the Dems could save them from Dubya's bad decisions like FORCING them to buy $440 billion in MBS's in 2004-2007? Or of REQUIRING F/F to up their 'affordable housing goals' from 50% to 56% AND to use the 'high cost loans' Clinton said they COULDN'T use ALSO the rule Dubya changed in 2004? lol

http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[Dad2three]

How many lies are involved in government? Cause that's pretty much how many.

The problem though is the majority of people that vote for Democrats are truly ignorant.
The majority of them believe every time the MSM report a crisis.. that the crisis is occurring ALL the time!
For example.. we have a mass shooting in a school.
How many of these ignorant people get all hysterical and exaggerate beyond proportion the event!
An exceptional rare event made to sound and the hysterical ignorant Democrats call for banning guns!
Hysterical claims blown out of proportion and the ignorant Democrats BELIEVE what the MSM pushes for that day's crisis!
Pump the crisis for a few days until the next crisis!
Sad!

Says the Klown who thinks either Barney OR F/F had ANYTHING to do with the Banksters WORLD WIDE CREDIT BUBBLE AND BUST, ONE DUBYA CHEERED ON IN THE US AND PUSHED F/F INTO!

 

[Dad2three]

How many lies are involved in government? Cause that's pretty much how many.

The problem though is the majority of people that vote for Democrats are truly ignorant.
The majority of them believe every time the MSM report a crisis.. that the crisis is occurring ALL the time!
For example.. we have a mass shooting in a school.
How many of these ignorant people get all hysterical and exaggerate beyond proportion the event!
An exceptional rare event made to sound and the hysterical ignorant Democrats call for banning guns!
Hysterical claims blown out of proportion and the ignorant Democrats BELIEVE what the MSM pushes for that day's crisis!
Pump the crisis for a few days until the next crisis!
Sad!

"Pump the crisis for a few days until the next crisis!
Sad!"

Bengazzi, IRS, E/O's, Fast and Furious, Burgahl, etc lol

 

[Jarhead]

How many lies are involved in government? Cause that's pretty much how many.

The problem though is the majority of people that vote for Democrats are truly ignorant.
The majority of them believe every time the MSM report a crisis.. that the crisis is occurring ALL the time!
For example.. we have a mass shooting in a school.
How many of these ignorant people get all hysterical and exaggerate beyond proportion the event!
An exceptional rare event made to sound and the hysterical ignorant Democrats call for banning guns!
Hysterical claims blown out of proportion and the ignorant Democrats BELIEVE what the MSM pushes for that day's crisis!
Pump the crisis for a few days until the next crisis!
Sad!

Says the Klown who thinks either Barney OR F/F had ANYTHING to do with the Banksters WORLD WIDE CREDIT BUBBLE AND BUST, ONE DUBYA CHEERED ON IN THE US AND PUSHED F/F INTO!

Uh....curious...

Who bundled those loans and rated them A and allowed them to go on the market as A loans?

Do you know what MBS's are?

Who is at fault in the following scenario...

Your attorney tells you to sign something and when you ask him what it says, he says it simply gives him permission to represent you. You sign it to later find out that what you signed was an agreement to a plea bargain you did not agree to.

Answer those questions....and we will see if you are "in the know enough" to debate this topic.

Because, based on what you have posted so far, you come across as very naïve and...well...to be frank....clueless as to what created the housing bubble.

 

[Dad2three]

The problem though is the majority of people that vote for Democrats are truly ignorant.
The majority of them believe every time the MSM report a crisis.. that the crisis is occurring ALL the time!
For example.. we have a mass shooting in a school.
How many of these ignorant people get all hysterical and exaggerate beyond proportion the event!
An exceptional rare event made to sound and the hysterical ignorant Democrats call for banning guns!
Hysterical claims blown out of proportion and the ignorant Democrats BELIEVE what the MSM pushes for that day's crisis!
Pump the crisis for a few days until the next crisis!
Sad!

Says the Klown who thinks either Barney OR F/F had ANYTHING to do with the Banksters WORLD WIDE CREDIT BUBBLE AND BUST, ONE DUBYA CHEERED ON IN THE US AND PUSHED F/F INTO!

Uh....curious...

Who bundled those loans and rated them A and allowed them to go on the market as A loans?

Do you know what MBS's are?

Who is at fault in the following scenario...

Your attorney tells you to sign something and when you ask him what it says, he says it simply gives him permission to represent you. You sign it to later find out that what you signed was an agreement to a plea bargain you did not agree to.

Answer those questions....and we will see if you are "in the know enough" to debate this topic.

Because, based on what you have posted so far, you come across as very naïve and...well...to be frank....clueless as to what created the housing bubble.

"Uh....curious...

Who bundled those loans and rated them A and allowed them to go on the market as A loans?

Do you know what MBS's are?"



Of course YOU are to ignorant to understand, PRIVATE MARKETS DID THAT!

Examining the big lie: How the facts of the economic crisis stack up


The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.


•Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.




•Private lenders not subject to congressional regulations collapsed lending standards


Examining the big lie: How the facts of the economic crisis stack up | The Big Picture



Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown



Mortgages financed by Wall Street from 2001 to 2008 were 4½ times more likely to be seriously delinquent than mortgages backed by Fannie and Freddie.



“The idea that they were leading this charge is just absurd,” said Guy Cecala, publisher of Inside Mortgage Finance, an authoritative trade publication. “Fannie and Freddie have always had the tightest underwriting on earth…They were opposite of subprime.”

Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown - The Daily Beast


DUBYA REGULATOR FAILURE!!!


http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html

 

[Dad2three]

The problem though is the majority of people that vote for Democrats are truly ignorant.
The majority of them believe every time the MSM report a crisis.. that the crisis is occurring ALL the time!
For example.. we have a mass shooting in a school.
How many of these ignorant people get all hysterical and exaggerate beyond proportion the event!
An exceptional rare event made to sound and the hysterical ignorant Democrats call for banning guns!
Hysterical claims blown out of proportion and the ignorant Democrats BELIEVE what the MSM pushes for that day's crisis!
Pump the crisis for a few days until the next crisis!
Sad!

Says the Klown who thinks either Barney OR F/F had ANYTHING to do with the Banksters WORLD WIDE CREDIT BUBBLE AND BUST, ONE DUBYA CHEERED ON IN THE US AND PUSHED F/F INTO!

Uh....curious...

Who bundled those loans and rated them A and allowed them to go on the market as A loans?

Do you know what MBS's are?

Who is at fault in the following scenario...

Your attorney tells you to sign something and when you ask him what it says, he says it simply gives him permission to represent you. You sign it to later find out that what you signed was an agreement to a plea bargain you did not agree to.

Answer those questions....and we will see if you are "in the know enough" to debate this topic.

Because, based on what you have posted so far, you come across as very naïve and...well...to be frank....clueless as to what created the housing bubble.

The FBI correctly identified the epidemic of mortgage control fraud at such an early point that the financial crisis could have been averted had the Bush administration acted with even minimal competence.


To understand the crisis we have to focus on how the mortgage fraud epidemic produced widespread accounting fraud.


Don't ask; don't tell: book profits, "earn" bonuses and closet your losses

The first document everyone should read is by S&P, the largest of the rating agencies. The context of the document is that a professional credit rater has told his superiors that he needs to examine the mortgage loan files to evaluate the risk of a complex financial derivative whose risk and market value depend on the credit quality of the nonprime mortgages "underlying" the derivative. A senior manager sends a blistering reply with this forceful punctuation:

Any request for loan level tapes is TOTALLY UNREASONABLE!!! Most investors don't have it and can't provide it. [W]e MUST produce a credit estimate. It is your responsibility to provide those credit estimates and your responsibility to devise some method for doing so.

Fraud is the principal credit risk of nonprime mortgage lending. It is impossible to detect fraud without reviewing a sample of the loan files.

William K. Black: The Two Documents Everyone Should Read to Better Understand the Crisis


PLS (KNOW WHAT THAT IS?, LOL) HAS BEEN TRIED 3 TIMES IN 100+ YEARS, FAILED EVERY TIME, MISERABLY!