The Trump implosion

[radical right]

So that chart there proves GSE loans performed much better than all other loans during the mortgage bubble. So that undermines your point, does it not?

Since Carter, subprimes were around 7% of all mortgages, and stayed that way for decades. As one of your graphs showed, this percent went from 6% to over 20% from 2004 to 2006 (notice who was president and pushing his 'ownership society') when that happened.

 

[Indeependent]

Yes, people having money to spend did contribute to growth in the housing market.

Right, but we learned that the growth in the housing market was all in subprime loans with "dramatically weakened" standards. So I'm confused what position you're staking here, that tax cuts were responsible for the housing market or weren't? BTW - household debt skyrocketed right after the Bush tax cuts. So "letting people keep more of what they earned" is really bullshit, isn't it? If it's not, how come household debt skyrocketed as soon as the tax cuts were passed?

That, in and of itself was a good thing. The bad thing was the approving of home loans to people that really could not afford the payments on the loans.

Yeah, that's not true either. Low-income loans are not what caused the crisis. Only one of the top 25 lenders during the subprime bubble were subject to CRA rules. So what were these subprime loans for? Not for poor people, that's for sure. Loans for poor people would have to have been subject to CRA rules. But the overwhelming majority of loans issued from 2004-7 were not subject to CRA rules, and weren't even underwritten by GSE's.

Take a look at this chart and tell me what you see from 2004-7:

Or this one:

So when I see that chart, I see a major shift in lending from 2003-7, do you?

The tax cuts were not the cause of the bubble. Growth does not necessary equal bubble. However, if you want to keep believing the tax cuts caused that problem, so be it.

So you contradict yourself in your own post. You say tax cuts were not responsible for the bubble here. But you said in the first sentence they were. So you see how you're circle jerking around?

again, ignore the way lenders had to give out loans. mandated by congress. yep. completely ignore that so that you can make a statement. dude, you're wrong. sorry.

The sub-prime loans did not cause the crash.
The crash was caused by the excessive issuance of CDOs and Warren Buffet changing the Mark to Market ratio.
Buffet needed a few billion more so he phucked everyone else.

 

[The Derp]

The sub-prime loans did not cause the crash.
The crash was caused by the excessive issuance of CDOs and Warren Buffet changing the Mark to Market ratio.
Buffet needed a few billion more so he phucked everyone else.

Subprime loan defaults are what caused the crash.

 

[jc456]

again, ignore the way lenders had to give out loans. mandated by congress. yep. completely ignore that so that you can make a statement. dude, you're wrong. sorry.

YOUR ******* ARGUMENT was that loans to poor people caused the crash. I posted proof that showed that was not the case at all, yet you continue parroting the bullshit.

So that begs the question; are you ******* stupid or something?

it was. and it falls into your fairytale about the tax cuts. the fact is that lenders were mandated to give out loans. period. if they got a little more money from the tax cuts maybe they used that to justify the mortgage even though the peeps couldn't really afford them. the lenders had to, i repeat, had to give out the loans. I am very consistent, tool.

 

[radical right]

So when you look at those charts, what is it you are seeing? Because I see a definite drop in market share for GSE's from 2004-2007. What do you see?

And an explosion in private sector subprime loans that Bush took credit for in 2004

 

[Norman]

Was almost 100% preventable had Donald Trump just exercised some damn discretion.
He CLEARLY isnt listening to his advisiors. If he was he wouldnt be tweeting a shitstorm after every single story.

I feel sorry for his staff & family. Still better than Hillary I suppose but it's time to start grooming A REAL CONSERVATIVE for the next cycle. As I stated for MONTHS before the election, Trump is no conservative, in fact he was a life long Democrat. The only reason he ran for president is because everyone told him he couldn't. His ego had to prove everyone wrong & here we sit.

Back to being a conservative who doesn't conserve a shit and let's Marxists walk right over his face?

I think not. Gone are the days...

Trump will probably need a war to secure a win against the traitors. And hopefully the war will be against those said traitors, and not foreign nations, who have little to do with the obstructions in making America great again.

 

[P@triot]

The sub-prime loans did not cause the crash.
The crash was caused by the excessive issuance of CDOs and Warren Buffet changing the Mark to Market ratio.
Buffet needed a few billion more so he phucked everyone else.

Subprime loan defaults are what caused the crash.

You're both dead wrong (and astoundingly ignorant). The crash was caused by Bill Clinton's 1997 Community Re-Investment Act which essentially forced banks to make loans to people who couldn't afford the loans and then incentivized the banks to do it.

With Freddie and Fannie backing the loans - the banks had incentive to make risky loans. As usual - government interference in the free market caused massive economic collapse. Just like in Venezuela. And the former U.S.S.R. And Cuba. And Cambodia. And Ethiopia. And Vietnam. And....ah hell....you get the idea.

Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending

 

[P@triot]

Wow...what a perfect day for this article to come out - uh The Derp?

Before Lois Lerner Targeted the Tea Party, She Helped the Clinton Foundation

 

[radical right]

You're both dead wrong (and astoundingly ignorant). The crash was caused by Bill Clinton's 1997 Community Re-Investment Act which essentially forced banks to make loans to people who couldn't afford the loans and then incentivized the banks to do it..

Damn, Bush had 4 years to change the rules, and instead announced his 'ownership society' saying more people own their own homes under his watch than ever before.

 

[radical right]

Text: President Bush's Acceptance Speech to the Republican National Convention (washingtonpost.com)

President Bush's Acceptance Speech to the Republican National Convention
2004

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."

 

[P@triot]

This is exactly what the left has been striving for. They've created civil unrest, restored to violence and intimidation, and leveraged propaganda about President Trump in hopes of collapsing everything. Then of course - they will attempt to blame President Trump's policies for the disaster.

Dow dives 373 points as Trump drama rattles market

 

[P@triot]

You're both dead wrong (and astoundingly ignorant). The crash was caused by Bill Clinton's 1997 Community Re-Investment Act which essentially forced banks to make loans to people who couldn't afford the loans and then incentivized the banks to do it..

Damn, Bush had 4 years to change the rules, and instead announced his 'ownership society' saying more people own their own homes under his watch than ever before.

If you're looking for an argument from me - you won't get one. President Bush was a RINO. And given that there are 40 billion federal laws and regulations, it wouldn't surprise me in the least if he wasn't even aware of it. Nobody could be aware of all of them. Just another illustration of the unconstitutional monstrosity that our fascist friends on the left have morphed the federal government into.

 

[radical right]

If you're looking for an argument from me - you won't get one. President Bush was a RINO. And given that there are 40 billion federal laws and regulations, it wouldn't surprise me in the least if he wasn't even aware of it. Nobody could be aware of all of them. Just another illustration of the unconstitutional monstrosity that our fascist friends on the left have morphed the federal government into.

Bush drug out a 100 year old civil war era law to keep states from controlling subprime mortgages. (see USSC Cuomo vs Clearinghouse case that Bush's actions were rulled ILLEGAL)

 

[P@triot]

If you're looking for an argument from me - you won't get one. President Bush was a RINO. And given that there are 40 billion federal laws and regulations, it wouldn't surprise me in the least if he wasn't even aware of it. Nobody could be aware of all of them. Just another illustration of the unconstitutional monstrosity that our fascist friends on the left have morphed the federal government into.

Bush drug out a 100 year old civil war era law to keep states from controlling subprime mortgages. (see USSC Cuomo vs Clearinghouse case that Bush's actions were rulled ILLEGAL)

President Bush did? Or when faced with a situation he asked his attorneys/legal advisors to dig up something that would work?

If you actually think that Bush dug that up himself - then you and I need to sit down and discuss some bridges in New York that I would like to sell you.

 

[radical right]

President Bush did? Or when faced with a situation he asked his attorneys/legal advisors to dig up something that would work?.

Do you agree Bush didn't want anybody (ex: the states) putting the brakes on subprime mortgages? Which under Bush's watch and policies, went from 6% to over 20% of originated private mortgges.

 

[Dragonlady]

I disagree. The republicans have to impeach to save their party and they are beginning to realize that.

It's too late. The photo of them smiling with Trump when they passed the AHCA proves they are either in the tank with him, or are using him to advance their own agenda. In either case, they are beyond saving. Cynically using the President, then casting him aside once they got the tax cuts they wanted, is going to kill their party more than their association with Trump in the first place.

Conservatives are party-before-country.

The Republican plan going in was always to give Trump enough rope to hang himself, while passing their own agenda, and when the shit hit the fan, impeach Trump, and then sell the idea that the whole mess is Donnie's fault but WE saved the country. Vote Republican!

Unfortunately for Republicans, the shit has hit the fan WAY too soon. At this point, they almost HAVE to start impeachment proceedings, and no legislation has been passed. Their agenda won't get done before midterms.

In the meantime, Democrats are working to reverse the gerrymandering done by Republicans in time for 2018.

 

[P@triot]

President Bush did? Or when faced with a situation he asked his attorneys/legal advisors to dig up something that would work?.

Do you agree Bush didn't want anybody (ex: the states) putting the brakes on subprime mortgages? Which under Bush's watch and policies, went from 6% to over 20% of originated private mortgges.

As I stated before - you'll get no argument from me. Bush was a classic RINO. A true Kennedy-era liberal.

 

[P@triot]

Unfortunately for Republicans, the shit has hit the fan WAY too soon. At this point, they almost HAVE to start impeachment proceedings, and no legislation has been passed. Their agenda won't get done before midterms

"Impeachment" for what? You being a fragile snowflake who can't handle losing is not grounds for impeachment, my dear.

 

[Dragonlady]

Unfortunately for Republicans, the shit has hit the fan WAY too soon. At this point, they almost HAVE to start impeachment proceedings, and no legislation has been passed. Their agenda won't get done before midterms

"Impeachment" for what? You being a fragile snowflake who can't handle losing is not grounds for impeachment, my dear.

As a Canadian, I lost nothing. Trudeau is Prime Minister, my healthcare and pensions are not subject to the whims of an idiot, or what he does to the stock market.

And anyone who calls herself "Dragonlady" and puts assholes like you in their place on a daily basis is no fragile snowflake.

 

[Luddly Neddite]

Was almost 100% preventable had Donald Trump just exercised some damn discretion.
He CLEARLY isnt listening to his advisiors. If he was he wouldnt be tweeting a shitstorm after every single story.

I feel sorry for his staff & family. Still better than Hillary I suppose but it's time to start grooming A REAL CONSERVATIVE for the next cycle. As I stated for MONTHS before the election, Trump is no conservative, in fact he was a life long Democrat. The only reason he ran for president is because everyone told him he couldn't. His ego had to prove everyone wrong & here we sit.

IOW, if he had been a better liar.

Face facts - today he lost any semblance of control.


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