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

[Dad2three]

 

[Jarhead]

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

So you refuse to answer the questions. I knew you would.

How about I ask you this....

What does Fannie Mae do?

Do they write loans?

DO you know who insures loans? Any idea?

Other than simply listing "opinions" as you have been doing.....why don't you ask questions so you can truly understand what happened?

And just an FYI...I blame many...including congress, the President (to a small degree), and the victims (to a very large degree)...

And I can explain why.

But your take on it?

Patently false. You are completely clueless and making an ass of yourself.

 

[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.

Competition and Crisis in Mortgage Securitization


U.S. policymakers often treat market competition as a panacea. However, in the case of mortgage securitization, policymakers’ faith in competition is misplaced. Competitive mortgage securitization has been tried three times in U.S. history - during the 1880s, the 1920s, and the 2000s - and every time it has failed. Most recently, competition between mortgage securitizers led to a race to the bottom on mortgage underwriting standards that ended in the late 2000s financial crisis.


This article provides original evidence that when competition was less intense and securitizers had more market power, securitizers acted to monitor mortgage originators and to maintain prudent underwriting. However, securitizers’ ability to monitor originators and maintain high standards was undermined as competition shifted market power away from securitizers and toward originators. Although standards declined across the market, the largest and most powerful of the mortgage securitizers, the Government Sponsored Enterprises (“GSEs”), remained more successful than other mortgage securitizers at maintaining prudent underwriting.


Competition and Crisis in Mortgage Securitization by Michael Simkovic :: SSRN





Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.


http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf

 

[Dad2three]

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

So you refuse to answer the questions. I knew you would.

How about I ask you this....

What does Fannie Mae do?

Do they write loans?

DO you know who insures loans? Any idea?

Other than simply listing "opinions" as you have been doing.....why don't you ask questions so you can truly understand what happened?

And just an FYI...I blame many...including congress, the President (to a small degree), and the victims (to a very large degree)...

And I can explain why.

But your take on it?

Patently false. You are completely clueless and making an ass of yourself.

SERIOUSLY? FUCKING SERIOUSLY? LOL

You are a fucking MORON in the first degree!!!

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it


. More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year. Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations.


The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.


Low interest rates fueled an apparent boom

Asset managers sought new ways to make money

The credit rating agencies gave their blessing

Fund managers didn’t do their homework


Derivatives were unregulated

The SEC loosened capital requirements: In 2004, the Securities and Exchange Commission changed the leverage rules for just five Wall Street banks. This exemption replaced the 1977 net capitalization rule’s 12-to-1 leverage limit. This allowed unlimited leverage for Goldman Sachs [GS], Morgan Stanley, Merrill Lynch (now part of Bank of America [BAC]), Lehman Brothers (now defunct) and Bear Stearns (now part of JPMorganChase–[JPM]). These banks ramped leverage to 20-, 30-, even 40-to-1. Extreme leverage left little room for error. By 2008, only two of the five banks had survived, and those two did so with the help of the bailout.




The federal government overrode anti-predatory state laws. In 2004, the Office of the Comptroller of the Currency federally preempted state laws regulating mortgage credit and national banks, including anti-predatory lending laws on their books (along with lower defaults and foreclosure rates). Following this change, national lenders sold increasingly risky loan products in those states. Shortly after, their default and foreclosure rates increased markedly.




Compensation schemes encouraged gambling




Wall Street became “creative”

Private sector lenders fed the demand: These mortgage originators’ lend-to-sell-to-securitizers model had them holding mortgages for a very short period. This allowed them to relax underwriting standards, abdicating traditional lending metrics such as income, credit rating, debt-service history and loan-to-value.


Financial gadgets milked the market


Lest We Forget: Why We Had A Financial Crisis - Forbes



Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


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

 

[Dad2three]

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

So you refuse to answer the questions. I knew you would.

How about I ask you this....

What does Fannie Mae do?

Do they write loans?

DO you know who insures loans? Any idea?

Other than simply listing "opinions" as you have been doing.....why don't you ask questions so you can truly understand what happened?

And just an FYI...I blame many...including congress, the President (to a small degree), and the victims (to a very large degree)...

And I can explain why.

But your take on it?

Patently false. You are completely clueless and making an ass of yourself.

"So you refuse to answer the questions. I knew you would."

READING COMPREHENSION ISSUES?




"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!


TRY TO KEEP UP BUBBA


" What does Fannie Mae do?"

INSURES AND BUYS LOANS, SOMETIMES SELLS THEM (MBS's) , BUT THEY LOST MARKET SHARE ON BOTH UNDER DUBYA'S 'HOME OWNERSHIP SOCIETY' PUSH 2004-2007


"Do they write loans?"

FUCK NO, LIKE VA, FHA, ETC!!!


" DO you know who insures loans? Any idea?"

F/F DID SOME, BUT IF THEY HAD INSURED THE PRIVATE SECTOR SUBPRIME CRAP, IT MEANS THE DUBYA CRISIS WOULDN'T HAD HAPPENED RIGHT? YOU KNOW WHAT BACKING OR INSURING MEANS RIGHT? LOL

Congress? A little on Dubya but MOSTLY the people who got hoodwinked by the Banksters? lol

 

[AmericanFirst]

Now that he is retiring.. Barney thinks he can now tell the truth!

LIE One Barney Supported!!!!

Barney Frank on the White House Rollout of Obamacare: "They just lied to people."
"The rollout was so bad, and I was appalled -- I don't understand how the president could have sat there and not been checking on that on a weekly basis," Frank told HuffPost during a July interview.
"But frankly, he should never have said as much as he did, that if you like your current health care plan, you can keep it.
That wasn't true. And you shouldn't lie to people. And they just lied to people."

Basically, yes (although that wasn't the only Obamacare-related thing the administration misled the public about).

Frank suggests that the Obama administration could have avoided some trouble by not making the promise. But the question is whether the law would have passed without an explicit vow that people could keep their plans and doctors.
Barney Frank on the White House Rollout of Obamacare: "They just lied to people." - Hit & Run : Reason.com

LIE TWO!!!
Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
House Financial Services Committee Chairman Barney Frank (D-MA) criticized the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis.
The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."..
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

With these TWO GIGANTIC LIES Frank Supported we have had two gigantic destructive forces in our economy..!

98% of Americans were able to keep their plans.

I bet you being a libtard can't prove that.

 

[Jarhead]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

 

[Dad2three]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

Gawwd you are an ignorant tool aren't you?

THE BANKSTERS CREATED A WORLD WIDE CREDIT BUBBLE. ONE DUBYA CHEERED ON IN THE US AND FOUGHT ALL 50 STATES ON (SEC PREDATORY LENDERS IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON THE BANKSTERS)


Dubya was warned in 2004 of an EPIDEMIC of mortgage fraud that could rival Reagan's S&L crisis (who ALSO ignored Mr Gray's warnings on the S&L crisis beginning in 1984!!!) by the FBI. What did he do in response? Well of course GUTTED the FBI whiter collar crimes divisdion (1,800+ agents) AND then ALLOWED THE 5 INVESTMENT BANKSTERS TO THROW OFF THEIR NET CAP RULES (LEVERAGE, KNOW WHAT THAT MEANS? LOL)

Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse



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



Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.


http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf

 

[Dad2three]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

"The "victims"?"

The FBI has been warning of an "epidemic" of mortgage fraud since September 2004. It also reports that lenders initiated 80% of these frauds

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


Banks — not borrowers — are the ones who actually make the loan decision.

 

[Jarhead]

Now that he is retiring.. Barney thinks he can now tell the truth!

LIE One Barney Supported!!!!

Barney Frank on the White House Rollout of Obamacare: "They just lied to people."
"The rollout was so bad, and I was appalled -- I don't understand how the president could have sat there and not been checking on that on a weekly basis," Frank told HuffPost during a July interview.
"But frankly, he should never have said as much as he did, that if you like your current health care plan, you can keep it.
That wasn't true. And you shouldn't lie to people. And they just lied to people."

Basically, yes (although that wasn't the only Obamacare-related thing the administration misled the public about).

Frank suggests that the Obama administration could have avoided some trouble by not making the promise. But the question is whether the law would have passed without an explicit vow that people could keep their plans and doctors.
Barney Frank on the White House Rollout of Obamacare: "They just lied to people." - Hit & Run : Reason.com

LIE TWO!!!
Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
House Financial Services Committee Chairman Barney Frank (D-MA) criticized the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis.
The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."..
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

With these TWO GIGANTIC LIES Frank Supported we have had two gigantic destructive forces in our economy..!

98% of Americans were able to keep their plans.

I bet you being a libtard can't prove that.

89% of Americans are insured
61% of the people are insured through their employer...so they are not included yet
30% are on Medicaid or medicare...so they lost nothing

So 91% of all Americans were not affected by the ACA yet.

So the 2% that lost their coverage were 2% of the 9% that were affected

So a shade under 25% of those that could lose their insurance, lost their insurance.

See how easily NYCarbineer is fooled by stats?

Or is it that he tries to fool others with stats.

 

[healthmyths]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

Gawwd you are an ignorant tool aren't you?

THE BANKSTERS CREATED A WORLD WIDE CREDIT BUBBLE. ONE DUBYA CHEERED ON IN THE US AND FOUGHT ALL 50 STATES ON (SEC PREDATORY LENDERS IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON THE BANKSTERS)


Dubya was warned in 2004 of an EPIDEMIC of mortgage fraud that could rival Reagan's S&L crisis (who ALSO ignored Mr Gray's warnings on the S&L crisis beginning in 1984!!!) by the FBI. What did he do in response? Well of course GUTTED the FBI whiter collar crimes divisdion (1,800+ agents) AND then ALLOWED THE 5 INVESTMENT BANKSTERS TO THROW OFF THEIR NET CAP RULES (LEVERAGE, KNOW WHAT THAT MEANS? LOL)

Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse



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



Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.


http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf

Leave to the truly ignorant to take pad, exaggerate blow out of proportion a single letter "W" into 5 characters..."Dubya"!
Instead of using one character like all growgovernmentistas they can't seem to understand simple alphabet i.e. one letter
takes up less space then 5 letters... how truly stupid!!!

 

[Jarhead]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

"The "victims"?"

The FBI has been warning of an "epidemic" of mortgage fraud since September 2004. It also reports that lenders initiated 80% of these frauds

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


Banks — not borrowers — are the ones who actually make the loan decision.

Still wont answer the questions.

You continue to offer opinions of others...with no fact.

Answer the questions.....

By the way......that last thing you posted......

Banks....not borrowers....are the ones who actually make the loan decision....

Really? The bank decided for me that I wanted the loan? And they signed it for me?

Really?

I don't recall it happening that way.

 

[Jarhead]

98% of Americans were able to keep their plans.

I bet you being a libtard can't prove that.

89% of Americans are insured
61% of the people are insured through their employer...so they are not included yet
30% are on Medicaid or medicare...so they lost nothing

So 91% of all Americans were not affected by the ACA yet.

So the 2% that lost their coverage were 2% of the 9% that were affected

So a shade under 25% of those that could lose their insurance, lost their insurance.

See how easily NYCarbineer is fooled by stats?

Or is it that he tries to fool others with stats.

I am going to continue to bump this so all can see how disingenuous NYCarbineer is.....

 

[Dad2three]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

" What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?"

STOP BEING AN IGNORANT TOOL BUBBA!


Already answered you

How many more lies did Barney Frank participate in??? - Page 5 - US Message Board - Political Discussion Forum

BUT:

No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom


2. The government’s affordability mission didn’t cause the crisis

3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.




4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now


AEI's Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”


Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture

 

[Dad2three]

98% of Americans were able to keep their plans.

I bet you being a libtard can't prove that.

89% of Americans are insured
61% of the people are insured through their employer...so they are not included yet
30% are on Medicaid or medicare...so they lost nothing

So 91% of all Americans were not affected by the ACA yet.

So the 2% that lost their coverage were 2% of the 9% that were affected

So a shade under 25% of those that could lose their insurance, lost their insurance.

See how easily NYCarbineer is fooled by stats?

Or is it that he tries to fool others with stats.

Looks like you proved his premise

"98% of Americans were able to keep their plans."

 

[Dad2three]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

Gawwd you are an ignorant tool aren't you?

THE BANKSTERS CREATED A WORLD WIDE CREDIT BUBBLE. ONE DUBYA CHEERED ON IN THE US AND FOUGHT ALL 50 STATES ON (SEC PREDATORY LENDERS IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON THE BANKSTERS)


Dubya was warned in 2004 of an EPIDEMIC of mortgage fraud that could rival Reagan's S&L crisis (who ALSO ignored Mr Gray's warnings on the S&L crisis beginning in 1984!!!) by the FBI. What did he do in response? Well of course GUTTED the FBI whiter collar crimes divisdion (1,800+ agents) AND then ALLOWED THE 5 INVESTMENT BANKSTERS TO THROW OFF THEIR NET CAP RULES (LEVERAGE, KNOW WHAT THAT MEANS? LOL)

Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse



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



Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.


http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf

Leave to the truly ignorant to take pad, exaggerate blow out of proportion a single letter "W" into 5 characters..."Dubya"!
Instead of using one character like all growgovernmentistas they can't seem to understand simple alphabet i.e. one letter
takes up less space then 5 letters... how truly stupid!!!

LOL, THAT'S WHAT YOU RESPOND TOO?

My gawd, I guess when FACTS aren't on your side

 

[Dad2three]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

"The "victims"?"

The FBI has been warning of an "epidemic" of mortgage fraud since September 2004. It also reports that lenders initiated 80% of these frauds

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


Banks — not borrowers — are the ones who actually make the loan decision.

Still wont answer the questions.

You continue to offer opinions of others...with no fact.

Answer the questions.....

By the way......that last thing you posted......

Banks....not borrowers....are the ones who actually make the loan decision....

Really? The bank decided for me that I wanted the loan? And they signed it for me?

Really?

I don't recall it happening that way.

"Really? The bank decided for me that I wanted the loan? And they signed it for me?

Really?"



You forge a check or did the bank sign it? lol




Why Prosecutors Don't Go After Wall Street

BUSH GAVE A GET OUT OF JAIL FREE CARD SUMMER 2008

Why Prosecutors Don't Go After Wall Street : NPR

“When regulators don’t believe in regulation and don’t get what is going on at the companies they oversee, there can be no major white-collar crime prosecutions,”...“If they don’t understand what we call collective embezzlement, where people are literally looting their own firms, then it’s impossible to bring cases.”

http://www.nytimes.com/2011/04/14/business/14prosecute.html?pagewanted=all

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

Dubya was warned by the FBI of an "epidemic" of mortgage fraud in 2004. He gave them less resources.

FBI saw threat of loan crisis - Los Angeles Times

Shockingly, the FBI clearly makes the case for the need to combat mortgage fraud in 2005, the height of the housing crisis:

Financial Crimes Report to the Public 2005

FBI ? Financial Crimes Report 2005

The Bush Rubber Stamp GOP Congress ignored the obvious and extremely detailed and well reported crime spree by the FBI.

THE BUSH ADMINISTRATION and GOP CONGRESS stripped the White Collar Crime divisions of money and manpower.

http://www.nytimes.com/2008/10/19/washington/19fbi.html?pagewanted=all

DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!

 

[Dad2three]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

"The "victims"?"

The FBI has been warning of an "epidemic" of mortgage fraud since September 2004. It also reports that lenders initiated 80% of these frauds

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


Banks — not borrowers — are the ones who actually make the loan decision.

Still wont answer the questions.

You continue to offer opinions of others...with no fact.

Answer the questions.....

By the way......that last thing you posted......

Banks....not borrowers....are the ones who actually make the loan decision....

Really? The bank decided for me that I wanted the loan? And they signed it for me?

Really?

I don't recall it happening that way.

It is the banks job to determine credit worthiness. THAT IS WHAT THEY DO. If they do not care to be bother to make this determination, then perhaps they should consider something other than the money lending business as a vocation.

Left to themselves, most humans would borrow much more money than they can reasonably handle. This is not a political statement, it is an observation about Human Nature.


"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN’T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them


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

 

[Jarhead]

Still wont answer the questions.

The drive for profit will ALWAYS be there....so saying that is what caused it is the same as saying that such a problem will always exist.

If you were aware of the answers to my questions, you would think differently and actually understand WHY it happened as it happened. Saying it was the drive for profit is immature and in no way addresses why it happened THIS time and not all other times there was a drive for profit...which is everyday in every industry since the beginning of time.

So tell me.....

Who was at fault? Not referring to policy....who was at fault for the collapse?

Brokers?
Underwriters?
Banks?
Lending institutions?
Loan Officers?
Fannie Mae?
The "victims"?

Another question......asked this earlier.....

What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?

And please...answer with maturity and fact....not opinion with large font and bolds.

" What does Fannie Mae do? Do you know? How are they involved in the lending world? Do you know? What does the government, (the people) expect of them? Do you know?"

STOP BEING AN IGNORANT TOOL BUBBA!


Already answered you

How many more lies did Barney Frank participate in??? - Page 5 - US Message Board - Political Discussion Forum

BUT:

No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data)


1. Private markets caused the shady mortgage boom


2. The government’s affordability mission didn’t cause the crisis

3. There is a lot of research to back this up and little against it: This is not exactly an obscure corner of the wonk world — it is one of the most studied capital markets in the world.




4. Conservatives sang a different tune before the crash: Conservative think tanks spent the 2000s saying the exact opposite of what they are saying now


AEI's Peter Wallison in 2004: “In recent years, study after study has shown that Fannie Mae and Freddie Mac are failing to do even as much as banks and S&Ls in providing financing for affordable housing, including minority and low income housing.”


Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) | The Big Picture

So you don't know what Fannie Mae does.

Didn't think so.

By the way......Peter Wallison was correct....Fannie does not lend you fucking moron...so of course they did not do as much as lending institutions in providing financing....

But it is WHAT they do that is important.

But you don't want to know what they do.

You prefer regurgitating opinions of others...who like to have people like you regurgitate their opinions....

And by the way, I just checked.....the bank did NOT sign my settlement papers....
I signed them.
I initialed each page.
I signed the note.
I signed the consolidated note.
I signed the mortgage.
I signed the truth in lending statement.
I signed the HUD.

Sooooo.....it seems I was the one who decided to accept the terms of the loan. The bank did not decide that for me.

Now....answer my questions....or admit you are clueless.

 

[Mac1958]

.

Dad2Three, seriously, could you lighten up on the sheer volume of your posts?

I know they're all going to be all hardcore left wing all the time, but I might be more likely to read them. Right now they're just scroll-past material.

Calm down, remember that brevity is the soul of wit, and keep it concise.

Just a suggestion.

.