How were the “experts” so wrong about 2024 election and will it carry to 2028?

[Toddsterpatriot]

You do get that you only buy a mortgage AFTER someone else created it.

not that they were the problem to start with.

Anything else I can clear up for you? You seem kind of dopey.

Yeah, after the non-bank mortgage company created it, Fannie and Freddie bought it.

Still confused?

 

[dblack]

Is it because “Our reverence for the truth has become a distraction”?

If it is Newsom vs Vance in 2028, there will be many predicting a Newsom landslide.

If it's Newsom vs Vance, I predict continued decline.

 

[JoeB131]

Yeah, after the non-bank mortgage company created it, Fannie and Freddie bought it.

Still confused?

No confusion at all. Fannie and Freddie weren't the problem, the reckless practices of the banking industry were.

 

[Toddsterpatriot]

No confusion at all. Fannie and Freddie weren't the problem, the reckless practices of the banking industry were.

Government creating trillions of dollars of demand for subprime mortgages
wasn't part of the problem? LOL!

 

[JoeB131]

Government creating trillions of dollars of demand for subprime mortgages
wasn't part of the problem? LOL!

Government didn't do anything.

The Subprime market was the creation of the banking industry, that ignored best practices looking for bigger profits.

You clearly don't understand how any of this works.

 

[Toddsterpatriot]

Government didn't do anything.

The Subprime market was the creation of the banking industry, that ignored best practices looking for bigger profits.

You clearly don't understand how any of this works.

Government didn't do anything.

You're wrong. HUD required that Fannie and Freddie buy subprime mortgages.
In 1992, their quota was 30% of purchases. It rose to 50% in 2000. 55% in 2007.

The Subprime market was the creation of the banking industry,

OK.

And then HUD massively expanded the demand for them.

You clearly don't understand how any of this works.

Much better than you.

 

[JoeB131]

You're wrong. HUD required that Fannie and Freddie buy subprime mortgages.
In 1992, their quota was 30% of purchases. It rose to 50% in 2000. 55% in 2007.

yes, because they were propping up a banking system that was making these risky moves

It was the banks making these sub-prime loans that were the problem. Why did they do it? Because they thought they could collect a bunch of interest from the "suckers" and then resell the houses after they foreclosed on them.

 

[Toddsterpatriot]

yes, because they were propping up a banking system that was making these risky moves

It was the banks making these sub-prime loans that were the problem. Why did they do it? Because they thought they could collect a bunch of interest from the "suckers" and then resell the houses after they foreclosed on them.

yes, because they were propping up a banking system that was making these risky moves

Obviously. 1992 was a big year for subprime mortgages.

It was the banks making these sub-prime loans that were the problem.

Why are you letting the non-bank lenders off the hook?

Because they thought they could collect a bunch of interest from the "suckers" and then resell the houses after they foreclosed on them.

You think banks make money on foreclosures?
You're even dumber than when you first appeared.

 

[JoeB131]

Why are you letting the non-bank lenders off the hook?

Because they weren't the problem.

The problem wasn't Fannie Mae helping poor people buy a modest house.

The problem was the big banks and sub-prime lenders helping people buy McMansions they couldn't afford.

 

[Toddsterpatriot]

Because they weren't the problem.

The problem wasn't Fannie Mae helping poor people buy a modest house.

The problem was the big banks and sub-prime lenders helping people buy McMansions they couldn't afford.

Because they weren't the problem.

Really? Why not?
They wrote trillions of dollars of subprime mortgages.
And then they all went out of business. Sounds like they were a problem.

The problem wasn't Fannie Mae helping poor people buy a modest house.

Fannie Mae buying hundreds of billions worth of crappy mortgages ended up being a problem.

The problem was the big banks and sub-prime lenders

Right. And anything that increased demand for sub-prime mortgages
made the bubble bigger. Made the losses bigger.

 

[JoeB131]

Really? Why not?
They wrote trillions of dollars of subprime mortgages.
And then they all went out of business. Sounds like they were a problem.

Nope, the problem was greedy assholes on wall street, not dumb ones in Washington.

If we sent a few Bankers to Big Boy Jail, you'd have seen their behavior improve.

Fannie Mae buying hundreds of billions worth of crappy mortgages ended up being a problem.

They bought the mortgages after the banks collapsed, that was the thing.

 

[Fort Fun Indiana]

We see here the tired, right wing lie about the 2008 recession.

Of course, as any honest and informed person will tell you, it wasnt the subprime mortgages FM bought up that caused the problem.
The problem was chiefly caused by people defaulting on larger mortgages, especially real estate investors.

But dimestore right wing trolls like to say otherwise, as they are programmed to shit on anything that helps anyone but their rich masters.

So they obey their programming.

 

[Toddsterpatriot]

Nope, the problem was greedy assholes on wall street, not dumb ones in Washington.

If we sent a few Bankers to Big Boy Jail, you'd have seen their behavior improve.


They bought the mortgages after the banks collapsed, that was the thing.

Nope, the problem was greedy assholes on wall street,

It's true, some Wall Street firms also bought sub-prime mortgages from non-banks.

If we sent a few Bankers to Big Boy Jail,

For what crimes?

They bought the mortgages after the banks collapsed, that was the thing.

After the banks collapsed, Fannie and Freddie were already in trouble.........
because of all the sub-prime mortgages they already owned.

That's why Fannie and Freddie were seized.

 

[Toddsterpatriot]

We see here the tired, right wing lie about the 2008 recession.

Of course, as any honest and informed person will tell you, it wasnt the subprime mortgages FM bought up that caused the problem.
The problem was chiefly caused by people defaulting on larger mortgages, especially real estate investors.

But dimestore right wing trolls like to say otherwise, as they are programmed to shit on anything that helps anyone but their rich masters.

So they obey their programming.

$2 trillion? Damn!

That sounds like a large part of the problem.

 

[JoeB131]

Guy, if you are resorting to AI to find the answer you want, you really don't understand the problem.

 

[Toddsterpatriot]

Guy, if you are resorting to AI to find the answer you want, you really don't understand the problem.

I was looking for some subprime numbers.
If you have a source that shows Fannie and Freddie held much less than $2 trillion,
post it. In the meantime, your claims are still looking silly.

 

[JoeB131]

I was looking for some subprime numbers.
If you have a source that shows Fannie and Freddie held much less than $2 trillion,
post it. In the meantime, your claims are still looking silly.

Again, I don't waste my time if you are using AI to make what idiotic point you have.

The banks caused the meltdown of 2008. Not the government. (Other than Dubya Bush being unwilling to do his job and regulate the thing.)

 

[Toddsterpatriot]

Again, I don't waste my time if you are using AI to make what idiotic point you have.

The banks caused the meltdown of 2008. Not the government. (Other than Dubya Bush being unwilling to do his job and regulate the thing.)

Showing that Fannie and Freddie held massive amounts of subprime mortgages
was my point. Sorry if that makes you cry.

 

[JoeB131]

Showing that Fannie and Freddie held massive amounts of subprime mortgages
was my point. Sorry if that makes you cry.

You didn't have a point.

Fannie didn't make those loans, irresponsible lenders did.

 

[Toddsterpatriot]

You didn't have a point.

Fannie didn't make those loans, irresponsible lenders did.

No kidding, moron, Fannie and Freddie don't make any loans.
Never did.