The Trumpsters are trying to blame the Meltdown on Obama.
You can't ******* make this up.
We're not making it up. Go back and do your homework. Democrats and Barney Frank we're primarily responsible for the meltdown that both Bush and McCain warned about.
I realize how much has been kept from you. But YOU, and you alone, are responsible for your ignorance.
Let's see you and
Redfish provide us with
SPECIFIC, INFORMED, CLEAR answers to these CLEAR and SPECIFIC questions. You'd be the first Trumpster to do so:
- How did the Democrats force the banks to create shitty, opaque CMOs packed with shit loans with massive balloon payments and damn near zero lender standards?
- How did the Democrats force the banks to create and sell the even MORE hideous CDOs that didn't even fully INCLUDE the above-mentioned shit mortgages?
- How did the Democrats force banks like Bear and Lehman to lever up to THIRTY FREAKING PERCENT to load up on securities they knew where essentially hollow?
- How did the Democrats force mortgage companies to SELL OFF those shit mortgages to the banks to be put in those CMO's, often by the very next day?
- How did the Democrats force the ratings agencies to SELL AAA (TREASURY-level) ratings on those shit securities, making them highly attractive to buy?
- How did the Democrats force mortgage companies to write no-doc loans with insane balloons, knowing they'd be sold off in 12 hours into a shit CMO at NO risk?
- How did the Democrats force the banks to threaten the ratings agencies with lost business if they didn't give them AAA ratings on shit securities?
- How did the Democrats force Alan Greenspan to REFUSE to regulate derivatives while CFTC Chairwoman Brooksley Borns was PUBLICLY BEGGING him to?
- How did the Democrats force Greenspan to admit to CONGRESS after the Meltdown happened that he BLEW it, that markets had FAILED to regulate themselves?
- How did the Democrats force the banks to drop their standards far below what was required when they needed more shit CMO's and CDO's to SELL OFF for huge fees?
- How did the Democrats force the banks to SHORT the VERY SAME shit securities THEY WERE SELLING TO THEIR CLIENTS, WHILE the whole ******* THING was COLLAPSING?
- How did the Democrats force GS & John Paulson to create shit CMO's that were SPECIFICALLY EXPECTED to FAIL so they could buy swaps on them, making Paulson $2 BILLION?
- How did the Democrats force banks to spin off companies that sold insane synthetic CDOs that had NOTHING to do with mortgages, but FLOODED them with fees & leverage?
- How did the Democrats force AIG to write zillions in credit default swaps with ZERO ******* reserves - REQUIRED for ANY OTHER insurance product - to back them up?
Go.
simple, the entire mortgage scheme was created by democrats in an attempt to buy the votes of poor people by giving them mortgages that they could never pay back. The rest was the financial industry trying to save itself by marginally legal and totally unethical means. Remember, wall street and the banking industry always back democrats.
I am quite sure that some republicans participated in the scheme, but it originated with democrats.
Ok, Mac, who were the authors of the mortgage bills? not a trick question, look it up if you don't know.
Don't know. I'm guessing they were Democrats. I can take it further: Clinton may have started this mess when he gleefully signed the repeal of Glass Steagall, opening the floodgates.
The problem is that I can see the whole picture. My opinions on it don't fall along ideological lines, because I live it for my profession. I know what happened and how. It goes far, far beyond the mortgage bills.
I'm tired of asymmetrical conversations. If you want to put the whole blame on the other guys, go ahead. I know that's just not reality, but I'm not trying to convince you of anything.
I get all that, you have made that claim multiple times, but your posts show otherwise since you always take the dem/lib side of any discussion.
If you will note, I did acknowledge that some republicans were probably involved in the mortgage/banking fiasco of 2007-08. But it is indisputable that the idea of giving mortgages to poor people who could never make the payments was a democrat one in another attempt to buy votes.
If you look at my posting history, you will see that I call out the GOP when they screw up and I was a harsh critic of Bush 43. But I lean right and conservative and despise what Pelosi and the dems are trying to do to my country.
When evaluating Trump and debt, the corona spending has to be removed from the equation. It was not his fault in any way and he caved to the dems in allowing some of their partisan spending crap to remain in the bill.
in 2025 we can do a detailed review of Trump's financial management, until then discussing it is nothing but partisan bullshit.