Trump on Housing Crisis: "I Sort of Hope it Happens..."

[toobfreak]

DC is corrupted by capitalism:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

Hey Idiot:

• SHOW ME a presidential family that didn't profit from their father being president?! Look at where Chelsea Clinton is today ONLY BECAUSE OF HER PARENTS.
• How can you corrupt a country BASED ON CAPITALISM with more capitalism?!
• As to your "corrupt capitalist family" above, here is the alternative, the perfect socialist Russian family:

Me, I choose the Trumps.

 

[Mac-7]

Why would anyone pretend to be surprised when the most corrupt POUTUS in US history anticipated "earning" massive profits from an economic crash that cost 8 million Americans their homes?

https://www.amazon.com/Homewreckers...italists-Demolished/dp/0062869531?tag=usmb-20

"Two years before the housing market collapsed in 2008, Donald Trump looked forward to a crash: 'I sort of hope that happens because then people like me would go in and buy,' he said."


"A tale of greed and corruption involving 'corporate landlords' who 'drove a generational transfer of wealth from hundreds of thousands of individual homeowners to a handful of well-heeled bankers and titans of private equity...'"

"The author spotlights a variety of contemporary robber barons, including Donald Trump before he was president; Trump’s father, Fred; Wilbur L. Ross Jr. before he was the Secretary of Commerce; and Steven T. Mnuchin before he became Secretary of the Treasury.

"Glantz’s impressive research leads him to portray each of the tycoons as morally bankrupt and utterly without compassion for homeowners who lost their property."

It's bad enough that vulture capitalists like Trump, Barrack, Schwarzman, Ross, and Mnuchin found ways to profit from the fraud the created the Great Recession; what's even worse is that they are now is positions to create new financial products that could make the wealth transfers of the biggest economic downturn since the Great Depression permanent.

Too Much Winning or Drain the Swamp?

Oh the horror. Eleven years ago Trump was one of about a billion real estate businessmen who saw the housing collapse as an opportunity to buy low and sell high. Hold the ******* presses. He would have been one hell of a sucky businessman and CEO if he had passed up that opportunity.

I mean, it's not like Trump is the one that put these people in homes they couldn't afford, foreclosed on them or kicked them in the streets! The democrats did.

You know George, I hear that in the 9th grade, Trump also used to dip girl's pigtails into inkwells!

I mean, it's not like Trump is the one that put these people in homes they couldn't afford, foreclosed on them or kicked them in the streets! The democrats did.

Republicans AND Democrats took bribes from parasites like Trump and Barrack to provide loans to Americans they knew were virtually impossible to repay

Trump had nothing to do with the collapse of the housing bubble in 2007

That was caused by do-gooder liberals who insisted that banks loan money to poor people who cpuld not make their house payments

Trump had nothing to do with the collapse of the housing bubble in 2007

That was caused by do-gooder liberals who insisted that banks loan money to poor people who cpuld not make their house payments

You believe real estate speculators played no role in creating the Great Recession?

You believe real estate speculators played no role in creating the Great Recession?

Very little if any

The crisis was caused by lending to unqualified borrowers in low income or marginal neighborhoods that was mandated by the clinton administration

Trump was not involved in that

You believe real estate speculators played no role in creating the Great Recession?

Very little if any

The crisis was caused by lending to unqualified borrowers in low income or marginal neighborhoods that was mandated by the clinton administration

Trump was not involved in that

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Causes of the United States housing bubble - Wikipedia

"As median home prices began to rise dramatically in 2000–2001 following the fall in interest rates, speculative purchases of homes also increased.[116]

"Fortune magazine's article on housing speculation in 2005 said, 'America was awash in a stark, raving frenzy that looked every bit as crazy as dot-com stocks.'[117]

"In a 2006 interview in BusinessWeek magazine, Yale economist Robert Shiller said of the impact of speculators on long term valuations, 'I worry about a big fall because prices today are being supported by a speculative fever',[118] and former NAR chief economist David Lereah said in 2005 that '[t]here's a speculative element in home buying now.'"

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

You have no way of knowing what Trump owns:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

"Days before his inauguration in 2016, Donald Trump announced that he had given 'complete and total' control of the Trump Organization to Don Jr. and Eric..."

"Since then, Forbes says, the brothers have sold off more than $100 million worth of Trump Organization real estate.

"That figure includes a $33 million sale of the company’s stake in a federally subsidized housing complex—a transaction Secretary of House & Urban Development Ben Carson had to approve—and a $3.2 million sale of land in the Dominican Republic last year, which Forbes called 'the clearest violation of their father’s pledge to do no new foreign deals while in office.'"

You have leaped from 1999 up to 2019 in one post

Trump had nothing to do with the 2007 low income housing bubble

Thst was all liberal do-gooder washington stupidity

 

[georgephillip]

Why would anyone pretend to be surprised when the most corrupt POUTUS in US history anticipated "earning" massive profits from an economic crash that cost 8 million Americans their homes?

https://www.amazon.com/Homewreckers...italists-Demolished/dp/0062869531?tag=usmb-20

"Two years before the housing market collapsed in 2008, Donald Trump looked forward to a crash: 'I sort of hope that happens because then people like me would go in and buy,' he said."

"KIRKUS REVIEW

"A tale of greed and corruption involving 'corporate landlords' who 'drove a generational transfer of wealth from hundreds of thousands of individual homeowners to a handful of well-heeled bankers and titans of private equity...'"

"The author spotlights a variety of contemporary robber barons, including Donald Trump before he was president; Trump’s father, Fred; Wilbur L. Ross Jr. before he was the Secretary of Commerce; and Steven T. Mnuchin before he became Secretary of the Treasury.

"Glantz’s impressive research leads him to portray each of the tycoons as morally bankrupt and utterly without compassion for homeowners who lost their property."

It's bad enough that vulture capitalists like Trump, Barrack, Schwarzman, Ross, and Mnuchin found ways to profit from the fraud the created the Great Recession; what's even worse is that they are now is positions to create new financial products that could make the wealth transfers of the biggest economic downturn since the Great Depression permanent.

Too Much Winning or Drain the Swamp?

Trump had nothing to do with the collapse of the housing bubble in 2007

That was caused by do-gooder liberals who insisted that banks loan money to poor people who cpuld not make their house payments

And there was nothing corrupt about a smart operator like Trump taking advantage of the situation. A situation he had no hand in creating.

And there was nothing corrupt about a smart operator like Trump taking advantage of the situation. A situation he had no hand in creating.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans. Once the inevitable foreclosures began to increase, Trump and his cohorts began buying up massive amounts of properties primarily as rental units which is one reason why apartments like the one I live in today rented for $375 a month in 1995 and currently rent for $1150 per month.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans.

Thats fake news

Better known as a lie

Show us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

how us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

What "bill" was that?

 

[Mac-7]

Why would anyone pretend to be surprised when the most corrupt POUTUS in US history anticipated "earning" massive profits from an economic crash that cost 8 million Americans their homes?

https://www.amazon.com/Homewreckers...italists-Demolished/dp/0062869531?tag=usmb-20

"Two years before the housing market collapsed in 2008, Donald Trump looked forward to a crash: 'I sort of hope that happens because then people like me would go in and buy,' he said."

"KIRKUS REVIEW

"A tale of greed and corruption involving 'corporate landlords' who 'drove a generational transfer of wealth from hundreds of thousands of individual homeowners to a handful of well-heeled bankers and titans of private equity...'"

"The author spotlights a variety of contemporary robber barons, including Donald Trump before he was president; Trump’s father, Fred; Wilbur L. Ross Jr. before he was the Secretary of Commerce; and Steven T. Mnuchin before he became Secretary of the Treasury.

"Glantz’s impressive research leads him to portray each of the tycoons as morally bankrupt and utterly without compassion for homeowners who lost their property."

It's bad enough that vulture capitalists like Trump, Barrack, Schwarzman, Ross, and Mnuchin found ways to profit from the fraud the created the Great Recession; what's even worse is that they are now is positions to create new financial products that could make the wealth transfers of the biggest economic downturn since the Great Depression permanent.

Too Much Winning or Drain the Swamp?

Trump had nothing to do with the collapse of the housing bubble in 2007

That was caused by do-gooder liberals who insisted that banks loan money to poor people who cpuld not make their house payments

And there was nothing corrupt about a smart operator like Trump taking advantage of the situation. A situation he had no hand in creating.

And there was nothing corrupt about a smart operator like Trump taking advantage of the situation. A situation he had no hand in creating.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans. Once the inevitable foreclosures began to increase, Trump and his cohorts began buying up massive amounts of properties primarily as rental units which is one reason why apartments like the one I live in today rented for $375 a month in 1995 and currently rent for $1150 per month.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans.

Thats fake news

Better known as a lie

Show us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

how us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

What "bill" was that?

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

 

[georgephillip]

Why would anyone pretend to be surprised when the most corrupt POUTUS in US history anticipated "earning" massive profits from an economic crash that cost 8 million Americans their homes?

https://www.amazon.com/Homewreckers...italists-Demolished/dp/0062869531?tag=usmb-20

"Two years before the housing market collapsed in 2008, Donald Trump looked forward to a crash: 'I sort of hope that happens because then people like me would go in and buy,' he said."

"KIRKUS REVIEW

"A tale of greed and corruption involving 'corporate landlords' who 'drove a generational transfer of wealth from hundreds of thousands of individual homeowners to a handful of well-heeled bankers and titans of private equity...'"

"The author spotlights a variety of contemporary robber barons, including Donald Trump before he was president; Trump’s father, Fred; Wilbur L. Ross Jr. before he was the Secretary of Commerce; and Steven T. Mnuchin before he became Secretary of the Treasury.

"Glantz’s impressive research leads him to portray each of the tycoons as morally bankrupt and utterly without compassion for homeowners who lost their property."

It's bad enough that vulture capitalists like Trump, Barrack, Schwarzman, Ross, and Mnuchin found ways to profit from the fraud the created the Great Recession; what's even worse is that they are now is positions to create new financial products that could make the wealth transfers of the biggest economic downturn since the Great Depression permanent.

Too Much Winning or Drain the Swamp?

Hilarious.
Your tactics never change.

It's getting more and more difficult for you to lie these days.

Nevermind the fact that Democrats caused the housing collapse in the first place....and succeeded in blaming it on Bush.

I don't think wishing for a recession at the same time you're attacking your opponent for causing one is very smart.

Hilarious.
Your tactics never change.

It's getting more and more difficult for you to lie these days.

Nevermind the fact that Democrats caused the housing collapse in the first place....and succeeded in blaming it on Bush.

Wall Street caused the housing collapse with help from both wings of their political party.

"During the 2008 financial crisis, gas prices skyrocketed, overwhelming the payrolls of many businesses. Political leaders like Sarah palin blamed environmentalists who wouldn’t let the US drill offshore or on public lands.

• In reality, Wall Street speculators were making huge, unregulated bets on gas just as they had done on mortgages.

• Wall Street was allowed to make these bets because Phil Gramm inserted an amendment into the Commodity Futures Modernization Act that was written by lobbyists for Enron, Goldman Sachs, and the Koch Brothers (funders of the Tea Party.)"

Wall Street Rigs the Game for a 25-Year Crime Spree

 

[Toddsterpatriot]

Why would anyone pretend to be surprised when the most corrupt POUTUS in US history anticipated "earning" massive profits from an economic crash that cost 8 million Americans their homes?

https://www.amazon.com/Homewreckers...italists-Demolished/dp/0062869531?tag=usmb-20

"Two years before the housing market collapsed in 2008, Donald Trump looked forward to a crash: 'I sort of hope that happens because then people like me would go in and buy,' he said."

"KIRKUS REVIEW

"A tale of greed and corruption involving 'corporate landlords' who 'drove a generational transfer of wealth from hundreds of thousands of individual homeowners to a handful of well-heeled bankers and titans of private equity...'"

"The author spotlights a variety of contemporary robber barons, including Donald Trump before he was president; Trump’s father, Fred; Wilbur L. Ross Jr. before he was the Secretary of Commerce; and Steven T. Mnuchin before he became Secretary of the Treasury.

"Glantz’s impressive research leads him to portray each of the tycoons as morally bankrupt and utterly without compassion for homeowners who lost their property."

It's bad enough that vulture capitalists like Trump, Barrack, Schwarzman, Ross, and Mnuchin found ways to profit from the fraud the created the Great Recession; what's even worse is that they are now is positions to create new financial products that could make the wealth transfers of the biggest economic downturn since the Great Depression permanent.

Too Much Winning or Drain the Swamp?

Hilarious.
Your tactics never change.

It's getting more and more difficult for you to lie these days.

Nevermind the fact that Democrats caused the housing collapse in the first place....and succeeded in blaming it on Bush.

I don't think wishing for a recession at the same time you're attacking your opponent for causing one is very smart.

Hilarious.
Your tactics never change.

It's getting more and more difficult for you to lie these days.

Nevermind the fact that Democrats caused the housing collapse in the first place....and succeeded in blaming it on Bush.

Wall Street caused the housing collapse with help from both wings of their political party.

"During the 2008 financial crisis, gas prices skyrocketed, overwhelming the payrolls of many businesses. Political leaders like Sarah palin blamed environmentalists who wouldn’t let the US drill offshore or on public lands.

• In reality, Wall Street speculators were making huge, unregulated bets on gas just as they had done on mortgages.

• Wall Street was allowed to make these bets because Phil Gramm inserted an amendment into the Commodity Futures Modernization Act that was written by lobbyists for Enron, Goldman Sachs, and the Koch Brothers (funders of the Tea Party.)"

Wall Street Rigs the Game for a 25-Year Crime Spree

In reality, Wall Street speculators were making huge, unregulated bets on gas

Gas futures aren't regulated? Get the **** out of here!

just as they had done on mortgages.

If you ever move out of your parent's basement, and bought a home, you'd see the mortgage paperwork the government mandates is ridiculous. And banks? One of the most heavily regulated industries out there.​

Wall Street was allowed to make these bets because Phil Gramm inserted an amendment into the Commodity Futures Modernization Act that was written by lobbyists for Enron,

Enron wanted to sell carbon dioxide permits.

 

[georgephillip]

Why would anyone pretend to be surprised when the most corrupt POUTUS in US history anticipated "earning" massive profits from an economic crash that cost 8 million Americans their homes?

https://www.amazon.com/Homewreckers...italists-Demolished/dp/0062869531?tag=usmb-20

"Two years before the housing market collapsed in 2008, Donald Trump looked forward to a crash: 'I sort of hope that happens because then people like me would go in and buy,' he said."


"A tale of greed and corruption involving 'corporate landlords' who 'drove a generational transfer of wealth from hundreds of thousands of individual homeowners to a handful of well-heeled bankers and titans of private equity...'"

"The author spotlights a variety of contemporary robber barons, including Donald Trump before he was president; Trump’s father, Fred; Wilbur L. Ross Jr. before he was the Secretary of Commerce; and Steven T. Mnuchin before he became Secretary of the Treasury.

"Glantz’s impressive research leads him to portray each of the tycoons as morally bankrupt and utterly without compassion for homeowners who lost their property."

It's bad enough that vulture capitalists like Trump, Barrack, Schwarzman, Ross, and Mnuchin found ways to profit from the fraud the created the Great Recession; what's even worse is that they are now is positions to create new financial products that could make the wealth transfers of the biggest economic downturn since the Great Depression permanent.

Too Much Winning or Drain the Swamp?

Oh the horror. Eleven years ago Trump was one of about a billion real estate businessmen who saw the housing collapse as an opportunity to buy low and sell high. Hold the ******* presses. He would have been one hell of a sucky businessman and CEO if he had passed up that opportunity.

I mean, it's not like Trump is the one that put these people in homes they couldn't afford, foreclosed on them or kicked them in the streets! The democrats did.

You know George, I hear that in the 9th grade, Trump also used to dip girl's pigtails into inkwells!

I mean, it's not like Trump is the one that put these people in homes they couldn't afford, foreclosed on them or kicked them in the streets! The democrats did.

Republicans AND Democrats took bribes from parasites like Trump and Barrack to provide loans to Americans they knew were virtually impossible to repay

You believe real estate speculators played no role in creating the Great Recession?

You believe real estate speculators played no role in creating the Great Recession?

Very little if any

The crisis was caused by lending to unqualified borrowers in low income or marginal neighborhoods that was mandated by the clinton administration

Trump was not involved in that

You believe real estate speculators played no role in creating the Great Recession?

Very little if any

The crisis was caused by lending to unqualified borrowers in low income or marginal neighborhoods that was mandated by the clinton administration

Trump was not involved in that

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Causes of the United States housing bubble - Wikipedia

"As median home prices began to rise dramatically in 2000–2001 following the fall in interest rates, speculative purchases of homes also increased.[116]

"Fortune magazine's article on housing speculation in 2005 said, 'America was awash in a stark, raving frenzy that looked every bit as crazy as dot-com stocks.'[117]

"In a 2006 interview in BusinessWeek magazine, Yale economist Robert Shiller said of the impact of speculators on long term valuations, 'I worry about a big fall because prices today are being supported by a speculative fever',[118] and former NAR chief economist David Lereah said in 2005 that '[t]here's a speculative element in home buying now.'"

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

You have no way of knowing what Trump owns:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

"Days before his inauguration in 2016, Donald Trump announced that he had given 'complete and total' control of the Trump Organization to Don Jr. and Eric..."

"Since then, Forbes says, the brothers have sold off more than $100 million worth of Trump Organization real estate.

"That figure includes a $33 million sale of the company’s stake in a federally subsidized housing complex—a transaction Secretary of House & Urban Development Ben Carson had to approve—and a $3.2 million sale of land in the Dominican Republic last year, which Forbes called 'the clearest violation of their father’s pledge to do no new foreign deals while in office.'"

Don Jr. and Eric aren't the President, they aren't on the public payroll. Why should they be restricted in their dealings?

President Trump isn't doing any dealings at all, except for we, the American People.

Don Jr. and Eric aren't the President, they aren't on the public payroll. Why should they be restricted in their dealings?

They are protected by the Secret Service, and their foreign business contacts know their family tree as well as you and I. Trump has been an opportunistic con man for his entire adult life, and now his greed is amplified by the power of POTUS.

 

[georgephillip]

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans. Once the inevitable foreclosures began to increase, Trump and his cohorts began buying up massive amounts of properties primarily as rental units which is one reason why apartments like the one I live in today rented for $375 a month in 1995 and currently rent for $1150 per month.

Link

Link

http://cepr.net/documents/publications/dereg-timeline-2009-07.pdf

"1996, Fed Reinterprets Glass-Steagall – Federal Reserve reinterprets the Glass-Steagall Act several times, eventually allowing bank holding companies to earn up to 25 percent of their revenues in investment banking. • 1998, Citicorp-Travelers Merger – Citigroup, Inc. merges a commercial bank with an insurance company that owns an investment bank to form the world’s largest financial services company. • 1999, Gramm-Leach-Bliley Act – With support from Fed Chairman Greenspan, Treasury Secretary Rubin and his successor Lawrence Summers, the bill repeals the Glass-Steagall Act completely. • 2000, Commodity Futures Modernization Act – Passed with support from the Clinton Administration, including Treasury Secretary Lawrence Summers, and bi-partisan support in Congress. The bill prevented the Commodity Futures Trading Commission from regulating most over-the-counter derivative contracts, including credit default swaps. • 2004, Voluntary Regulation – The SEC proposes a system of voluntary regulation under the Consolidated Supervised Entities program, allowing investment banks to hold less capital in reserve and increase leverage. • 2007, Subprime Mortgage Crisis – Defaults on subprime loans send shockwaves throughout the secondary mortgage market and the entire financial system."

Banks didn't need investment banking to lose money on crappy mortgages.

Banks didn't need investment banking to lose money on crappy mortgages.

Good thing the Fed was there to reimburse investment banks for their epidemic of mortgage fraud:

News Articles on the Fed’s Secret Trillions in Loans to Wall Street During the Last Crisis Have Been Purged from Bloomberg News

"That appeal failed as well and the Fed was forced to release its data in 2011.

"When all of its bailout programs were tallied up, the tab came to a staggering, cumulative $29 trillion – all transacted without the involvement or awareness of anyone elected to office by the American people. Congress remained in the dark throughout this period as trillions of dollars were sluiced to Wall Street, foreign banks, insolvent banks, even hedge funds that were shorting (betting against) the market."

Good thing the Fed was there to reimburse investment banks for their epidemic of mortgage fraud:

Short term loans didn't reimburse anyone for any losses. Silly ****.

Short term loans didn't reimburse anyone for any losses. Silly ****

Publications
WORKING PAPER NO. 698 | December 2011
$29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient
$29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient | Levy Economics Institute
How much of the $29 trillion have the rich bitches repaid, Kulak?

 

[georgephillip]

He's a vulture capitalist who bribed Republicans AND Democrats to lower the lending standards in order to ensure mortgages would be extended to people incapable of repaying those loans.

He then positioned himself to profit from foreclosures he knew would be forthcoming.

Is that capitalism or corruption?

Capitalism

Capitalism

"Corruption is endemic to the capitalist system and has not been successfully regulated away. Perhaps a system change is warranted?"

Political Corruption and Capitalism

then DC is corrupt? I agree.

hen DC is corrupt? I agree.

DC is corrupted by capitalism:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

"Individual capitalists act to corrupt government officials to serve their enterprise’s needs.

"Grouped into associations, they do likewise for their industries.

"When organized as a whole (in 'chambers of commerce' or 'manufacturers alliances,' etc.), they corrupt to secure their class interests.

"When such corruption is not secret, capitalists articulate their demands to corrupted officials as 'good for the economy or society as a whole.'

"Such phrases constitute the 'appropriate language' that enables officials publicly to disguise and hopefully to legitimate their corrupt acts."

Political Corruption and Capitalism

Its really disgraceful how the libs have attacked the Trump children. They are showing themselves to be truly Low Lifes.

Quite a difference from the deference shown by conservatives toward B. Hussein O's putative offspring.

Its really disgraceful how the libs have attacked the Trump children. They are showing themselves to be truly Low Lifes.

Quite a difference from the deference shown by conservatives toward B. Hussein O's putative offspring.

How much money did Obama's family make from Chinese lobbyists?

https://www.gq.com/story/trump-kids-profit-presidency

"In February 2017, the Trump Organization unloaded a $15.8 million Trump Park Avenue penthouse—a home formerly occupied by Jared and Ivanka—to Angela Chen, who runs a consulting firm with ties to Chinese government officials and (allegedly) Chinese military intelligence, says Mother Jones.

"A Forbes analysis found that this price was 13 percent more than that paid for a comparable unit a year earlier, and that it sold at a time when the building’s other units, on average, were selling for 25 percent less."

 

[georgephillip]

Trump had nothing to do with the collapse of the housing bubble in 2007

That was caused by do-gooder liberals who insisted that banks loan money to poor people who cpuld not make their house payments

And there was nothing corrupt about a smart operator like Trump taking advantage of the situation. A situation he had no hand in creating.

And there was nothing corrupt about a smart operator like Trump taking advantage of the situation. A situation he had no hand in creating.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans. Once the inevitable foreclosures began to increase, Trump and his cohorts began buying up massive amounts of properties primarily as rental units which is one reason why apartments like the one I live in today rented for $375 a month in 1995 and currently rent for $1150 per month.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans.

Thats fake news

Better known as a lie

Show us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

how us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

What "bill" was that?

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

CRA?

Community Reinvestment Act - Wikipedia

"Economist Stan Liebowitz wrote in the New York Post that a strengthening of the CRA in the 1990s encouraged a loosening of lending standards throughout the banking industry.

"He charged the Federal Reserve with ignoring the negative impact of the CRA.[99]

"According to Manhattan Institute scholar Howard Husock, the CEO of a midsize bank reported that 20% of his institution's CRA-related mortgages were delinquent in their first year and probably 7% would end in foreclosure.[105]

"In a commentary for CNN, Congressman Ron Paul, who serves on the United States House Committee on Financial Services, charged the CRA with 'forcing banks to lend to people who normally would be rejected as bad credit risks.'[106]

"In a The Wall Street Journal opinion piece, economist Russell Roberts wrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country."

 

[Toddsterpatriot]

Link

Link

http://cepr.net/documents/publications/dereg-timeline-2009-07.pdf

"1996, Fed Reinterprets Glass-Steagall – Federal Reserve reinterprets the Glass-Steagall Act several times, eventually allowing bank holding companies to earn up to 25 percent of their revenues in investment banking. • 1998, Citicorp-Travelers Merger – Citigroup, Inc. merges a commercial bank with an insurance company that owns an investment bank to form the world’s largest financial services company. • 1999, Gramm-Leach-Bliley Act – With support from Fed Chairman Greenspan, Treasury Secretary Rubin and his successor Lawrence Summers, the bill repeals the Glass-Steagall Act completely. • 2000, Commodity Futures Modernization Act – Passed with support from the Clinton Administration, including Treasury Secretary Lawrence Summers, and bi-partisan support in Congress. The bill prevented the Commodity Futures Trading Commission from regulating most over-the-counter derivative contracts, including credit default swaps. • 2004, Voluntary Regulation – The SEC proposes a system of voluntary regulation under the Consolidated Supervised Entities program, allowing investment banks to hold less capital in reserve and increase leverage. • 2007, Subprime Mortgage Crisis – Defaults on subprime loans send shockwaves throughout the secondary mortgage market and the entire financial system."

Banks didn't need investment banking to lose money on crappy mortgages.

Banks didn't need investment banking to lose money on crappy mortgages.

Good thing the Fed was there to reimburse investment banks for their epidemic of mortgage fraud:

News Articles on the Fed’s Secret Trillions in Loans to Wall Street During the Last Crisis Have Been Purged from Bloomberg News

"That appeal failed as well and the Fed was forced to release its data in 2011.

"When all of its bailout programs were tallied up, the tab came to a staggering, cumulative $29 trillion – all transacted without the involvement or awareness of anyone elected to office by the American people. Congress remained in the dark throughout this period as trillions of dollars were sluiced to Wall Street, foreign banks, insolvent banks, even hedge funds that were shorting (betting against) the market."

Good thing the Fed was there to reimburse investment banks for their epidemic of mortgage fraud:

Short term loans didn't reimburse anyone for any losses. Silly ****.

Short term loans didn't reimburse anyone for any losses. Silly ****

Publications
WORKING PAPER NO. 698 | December 2011
$29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient
$29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient | Levy Economics Institute
How much of the $29 trillion have the rich bitches repaid, Kulak?

All of it, Commietwat.

 

[Mac-7]

Oh the horror. Eleven years ago Trump was one of about a billion real estate businessmen who saw the housing collapse as an opportunity to buy low and sell high. Hold the ******* presses. He would have been one hell of a sucky businessman and CEO if he had passed up that opportunity.

I mean, it's not like Trump is the one that put these people in homes they couldn't afford, foreclosed on them or kicked them in the streets! The democrats did.

You know George, I hear that in the 9th grade, Trump also used to dip girl's pigtails into inkwells!

I mean, it's not like Trump is the one that put these people in homes they couldn't afford, foreclosed on them or kicked them in the streets! The democrats did.

Republicans AND Democrats took bribes from parasites like Trump and Barrack to provide loans to Americans they knew were virtually impossible to repay

You believe real estate speculators played no role in creating the Great Recession?

Very little if any

The crisis was caused by lending to unqualified borrowers in low income or marginal neighborhoods that was mandated by the clinton administration

Trump was not involved in that

You believe real estate speculators played no role in creating the Great Recession?

Very little if any

The crisis was caused by lending to unqualified borrowers in low income or marginal neighborhoods that was mandated by the clinton administration

Trump was not involved in that

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Causes of the United States housing bubble - Wikipedia

"As median home prices began to rise dramatically in 2000–2001 following the fall in interest rates, speculative purchases of homes also increased.[116]

"Fortune magazine's article on housing speculation in 2005 said, 'America was awash in a stark, raving frenzy that looked every bit as crazy as dot-com stocks.'[117]

"In a 2006 interview in BusinessWeek magazine, Yale economist Robert Shiller said of the impact of speculators on long term valuations, 'I worry about a big fall because prices today are being supported by a speculative fever',[118] and former NAR chief economist David Lereah said in 2005 that '[t]here's a speculative element in home buying now.'"

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

You have no way of knowing what Trump owns:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

"Days before his inauguration in 2016, Donald Trump announced that he had given 'complete and total' control of the Trump Organization to Don Jr. and Eric..."

"Since then, Forbes says, the brothers have sold off more than $100 million worth of Trump Organization real estate.

"That figure includes a $33 million sale of the company’s stake in a federally subsidized housing complex—a transaction Secretary of House & Urban Development Ben Carson had to approve—and a $3.2 million sale of land in the Dominican Republic last year, which Forbes called 'the clearest violation of their father’s pledge to do no new foreign deals while in office.'"

Don Jr. and Eric aren't the President, they aren't on the public payroll. Why should they be restricted in their dealings?

President Trump isn't doing any dealings at all, except for we, the American People.

Don Jr. and Eric aren't the President, they aren't on the public payroll. Why should they be restricted in their dealings?

They are protected by the Secret Service, and their foreign business contacts know their family tree as well as you and I. Trump has been an opportunistic con man for his entire adult life, and now his greed is amplified by the power of POTUS.

I prefer businessmen outsiders who have not grown up in the washington swamp rat bubble

Government has a corrupting influence on people who serve

And the longer they stay the worse they get

Meaning I dont want to ban businessmen from holding public office the way many leftists want to do

 

[Mac-7]

And there was nothing corrupt about a smart operator like Trump taking advantage of the situation. A situation he had no hand in creating.

And there was nothing corrupt about a smart operator like Trump taking advantage of the situation. A situation he had no hand in creating.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans. Once the inevitable foreclosures began to increase, Trump and his cohorts began buying up massive amounts of properties primarily as rental units which is one reason why apartments like the one I live in today rented for $375 a month in 1995 and currently rent for $1150 per month.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans.

Thats fake news

Better known as a lie

Show us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

how us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

What "bill" was that?

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

CRA?

Community Reinvestment Act - Wikipedia

"Economist Stan Liebowitz wrote in the New York Post that a strengthening of the CRA in the 1990s encouraged a loosening of lending standards throughout the banking industry.

"He charged the Federal Reserve with ignoring the negative impact of the CRA.[99]

"According to Manhattan Institute scholar Howard Husock, the CEO of a midsize bank reported that 20% of his institution's CRA-related mortgages were delinquent in their first year and probably 7% would end in foreclosure.[105]

"In a commentary for CNN, Congressman Ron Paul, who serves on the United States House Committee on Financial Services, charged the CRA with 'forcing banks to lend to people who normally would be rejected as bad credit risks.'[106]

"In a The Wall Street Journal opinion piece, economist Russell Roberts wrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country."

In a The Wall Street Journal opinion piece, economist Russell Robertswrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country."

And bill clinton along with other do-gooder liberals pressured congress to pass that law

 

[georgephillip]

http://cepr.net/documents/publications/dereg-timeline-2009-07.pdf

"1996, Fed Reinterprets Glass-Steagall – Federal Reserve reinterprets the Glass-Steagall Act several times, eventually allowing bank holding companies to earn up to 25 percent of their revenues in investment banking. • 1998, Citicorp-Travelers Merger – Citigroup, Inc. merges a commercial bank with an insurance company that owns an investment bank to form the world’s largest financial services company. • 1999, Gramm-Leach-Bliley Act – With support from Fed Chairman Greenspan, Treasury Secretary Rubin and his successor Lawrence Summers, the bill repeals the Glass-Steagall Act completely. • 2000, Commodity Futures Modernization Act – Passed with support from the Clinton Administration, including Treasury Secretary Lawrence Summers, and bi-partisan support in Congress. The bill prevented the Commodity Futures Trading Commission from regulating most over-the-counter derivative contracts, including credit default swaps. • 2004, Voluntary Regulation – The SEC proposes a system of voluntary regulation under the Consolidated Supervised Entities program, allowing investment banks to hold less capital in reserve and increase leverage. • 2007, Subprime Mortgage Crisis – Defaults on subprime loans send shockwaves throughout the secondary mortgage market and the entire financial system."

Banks didn't need investment banking to lose money on crappy mortgages.

Banks didn't need investment banking to lose money on crappy mortgages.

Good thing the Fed was there to reimburse investment banks for their epidemic of mortgage fraud:

News Articles on the Fed’s Secret Trillions in Loans to Wall Street During the Last Crisis Have Been Purged from Bloomberg News

"That appeal failed as well and the Fed was forced to release its data in 2011.

"When all of its bailout programs were tallied up, the tab came to a staggering, cumulative $29 trillion – all transacted without the involvement or awareness of anyone elected to office by the American people. Congress remained in the dark throughout this period as trillions of dollars were sluiced to Wall Street, foreign banks, insolvent banks, even hedge funds that were shorting (betting against) the market."

Good thing the Fed was there to reimburse investment banks for their epidemic of mortgage fraud:

Short term loans didn't reimburse anyone for any losses. Silly ****.

Short term loans didn't reimburse anyone for any losses. Silly ****

Publications
WORKING PAPER NO. 698 | December 2011
$29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient
$29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient | Levy Economics Institute
How much of the $29 trillion have the rich bitches repaid, Kulak?

All of it, Commietwat.

"So this guy from (let's say) Morgan Stanley walks into a bar."

The Size of the Bank Bailout: $29 Trillion

 

[jc456]

why wouldn't he have? he's a businessman. are you okay?

why wouldn't he have? he's a businessman. are you okay?

He's a vulture capitalist who bribed Republicans AND Democrats to lower the lending standards in order to ensure mortgages would be extended to people incapable of repaying those loans.

He then positioned himself to profit from foreclosures he knew would be forthcoming.

Is that capitalism or corruption?

Capitalism

Capitalism

"Corruption is endemic to the capitalist system and has not been successfully regulated away. Perhaps a system change is warranted?"

Political Corruption and Capitalism

then DC is corrupt? I agree.

hen DC is corrupt? I agree.

DC is corrupted by capitalism:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

"Individual capitalists act to corrupt government officials to serve their enterprise’s needs.

"Grouped into associations, they do likewise for their industries.

"When organized as a whole (in 'chambers of commerce' or 'manufacturers alliances,' etc.), they corrupt to secure their class interests.

"When such corruption is not secret, capitalists articulate their demands to corrupted officials as 'good for the economy or society as a whole.'

"Such phrases constitute the 'appropriate language' that enables officials publicly to disguise and hopefully to legitimate their corrupt acts."

Political Corruption and Capitalism

naw, DC is corrupted because evil elitists exist there.

 

[jc456]

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans. Once the inevitable foreclosures began to increase, Trump and his cohorts began buying up massive amounts of properties primarily as rental units which is one reason why apartments like the one I live in today rented for $375 a month in 1995 and currently rent for $1150 per month.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans.

Thats fake news

Better known as a lie

Show us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

how us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

What "bill" was that?

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

CRA?

Community Reinvestment Act - Wikipedia

"Economist Stan Liebowitz wrote in the New York Post that a strengthening of the CRA in the 1990s encouraged a loosening of lending standards throughout the banking industry.

"He charged the Federal Reserve with ignoring the negative impact of the CRA.[99]

"According to Manhattan Institute scholar Howard Husock, the CEO of a midsize bank reported that 20% of his institution's CRA-related mortgages were delinquent in their first year and probably 7% would end in foreclosure.[105]

"In a commentary for CNN, Congressman Ron Paul, who serves on the United States House Committee on Financial Services, charged the CRA with 'forcing banks to lend to people who normally would be rejected as bad credit risks.'[106]

"In a The Wall Street Journal opinion piece, economist Russell Roberts wrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country."

In a The Wall Street Journal opinion piece, economist Russell Robertswrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country."

And bill clinton along with other do-gooder liberals pressured congress to pass that law

no they didn't, they went to Donald J. Trump and he signed it and said okie dokie.

I think when these leftist stooges sweat, they sweat little donald's and they run around on them. Like fleas.

 

[georgephillip]

Republicans AND Democrats took bribes from parasites like Trump and Barrack to provide loans to Americans they knew were virtually impossible to repay

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Causes of the United States housing bubble - Wikipedia

"As median home prices began to rise dramatically in 2000–2001 following the fall in interest rates, speculative purchases of homes also increased.[116]

"Fortune magazine's article on housing speculation in 2005 said, 'America was awash in a stark, raving frenzy that looked every bit as crazy as dot-com stocks.'[117]

"In a 2006 interview in BusinessWeek magazine, Yale economist Robert Shiller said of the impact of speculators on long term valuations, 'I worry about a big fall because prices today are being supported by a speculative fever',[118] and former NAR chief economist David Lereah said in 2005 that '[t]here's a speculative element in home buying now.'"

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

You have no way of knowing what Trump owns:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

"Days before his inauguration in 2016, Donald Trump announced that he had given 'complete and total' control of the Trump Organization to Don Jr. and Eric..."

"Since then, Forbes says, the brothers have sold off more than $100 million worth of Trump Organization real estate.

"That figure includes a $33 million sale of the company’s stake in a federally subsidized housing complex—a transaction Secretary of House & Urban Development Ben Carson had to approve—and a $3.2 million sale of land in the Dominican Republic last year, which Forbes called 'the clearest violation of their father’s pledge to do no new foreign deals while in office.'"

Don Jr. and Eric aren't the President, they aren't on the public payroll. Why should they be restricted in their dealings?

President Trump isn't doing any dealings at all, except for we, the American People.

Don Jr. and Eric aren't the President, they aren't on the public payroll. Why should they be restricted in their dealings?

They are protected by the Secret Service, and their foreign business contacts know their family tree as well as you and I. Trump has been an opportunistic con man for his entire adult life, and now his greed is amplified by the power of POTUS.

I prefer businessmen outsiders who have not grown up in the washington swamp rat bubble

Government has a corrupting influence on people who serve

And the longer they stay the worse they get

Meaning I dont want to ban businessmen from holding public office the way many leftists want to do

I prefer businessmen outsiders who have not grown up in the washington swamp rat bubble

Government has a corrupting influence on people who serve

Which interests corrupt government?
I would nominate crony-capitalists like Trump whose administration is among the most corrupt in US history:

List of federal political scandals in the United States - Wikipedia

"Donald Trump administration (2017–present)[edit]
Further information: Russian interference in the 2016 United States elections, 2017–18 United States political sexual scandals, Donald Trump sexual misconduct allegations, and List of lawsuits involving Donald Trump

• "As of July 2019, President Donald Trump (R), his children, the 2016 Trump election campaign, the Trump Inaugural Committee and/or the White House were being investigated by 10 federal criminal, eight state and local, and 11 congressional investigations, according to the New York Times.
• 
  
• "This doesn't include investigations into administration officials or closed investigations led by Special Counsel for the Department of Justice Robert Mueller.[1]
• 
  
• "The Mueller investigation resulted in 34 indictments, and seven convictions or guilty pleas.[2]
• 
  
• "While adhering to Justice Department policy barring the indictment of a sitting president, the Special Counsel did pass on to Congress 'numerous instances in which President Trump may have obstructed justice.' [3]
  See also: Special Counsel investigation (2017–2019), Timeline of Russian interference in the 2016 United States elections, and Impeachment inquiry against Donald Trump"

What has Trump ever done to make you believe he is interested in fighting corruption?

 

[jc456]

Real estate speculators like Trump drove the "speculative fever" that induced politicians in both parties to loosen regulations in order to profitably extend mortgages to unqualified buyers.

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

Thats a lie

Trump deals in hotels, office buildings, golf courses

Not low income housing

You have no way of knowing what Trump owns:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

"Days before his inauguration in 2016, Donald Trump announced that he had given 'complete and total' control of the Trump Organization to Don Jr. and Eric..."

"Since then, Forbes says, the brothers have sold off more than $100 million worth of Trump Organization real estate.

"That figure includes a $33 million sale of the company’s stake in a federally subsidized housing complex—a transaction Secretary of House & Urban Development Ben Carson had to approve—and a $3.2 million sale of land in the Dominican Republic last year, which Forbes called 'the clearest violation of their father’s pledge to do no new foreign deals while in office.'"

Don Jr. and Eric aren't the President, they aren't on the public payroll. Why should they be restricted in their dealings?

President Trump isn't doing any dealings at all, except for we, the American People.

Don Jr. and Eric aren't the President, they aren't on the public payroll. Why should they be restricted in their dealings?

They are protected by the Secret Service, and their foreign business contacts know their family tree as well as you and I. Trump has been an opportunistic con man for his entire adult life, and now his greed is amplified by the power of POTUS.

I prefer businessmen outsiders who have not grown up in the washington swamp rat bubble

Government has a corrupting influence on people who serve

And the longer they stay the worse they get

Meaning I dont want to ban businessmen from holding public office the way many leftists want to do

I prefer businessmen outsiders who have not grown up in the washington swamp rat bubble

Government has a corrupting influence on people who serve

Which influence corrupts government?
I would nominate crony-capitalists like Trump whose administration is among the most corrupt in US history:

List of federal political scandals in the United States - Wikipedia

"Donald Trump administration (2017–present)[edit]
Further information: Russian interference in the 2016 United States elections, 2017–18 United States political sexual scandals, Donald Trump sexual misconduct allegations, and List of lawsuits involving Donald Trump

• "As of July 2019, President Donald Trump (R), his children, the 2016 Trump election campaign, the Trump Inaugural Committee and/or the White House were being investigated by 10 federal criminal, eight state and local, and 11 congressional investigations, according to the New York Times.
• 
  
• "This doesn't include investigations into administration officials or closed investigations led by Special Counsel for the Department of Justice Robert Mueller.[1]
• 
  
• "The Mueller investigation resulted in 34 indictments, and seven convictions or guilty pleas.[2]
• 
  
• "While adhering to Justice Department policy barring the indictment of a sitting president, the Special Counsel did pass on to Congress 'numerous instances in which President Trump may have obstructed justice.' [3]
  See also: Special Counsel investigation (2017–2019), Timeline of Russian interference in the 2016 United States elections, and Impeachment inquiry against Donald Trump"

What has Trump ever done to make you believe he is interested in fighting corruption?

 

[georgephillip]

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans. Once the inevitable foreclosures began to increase, Trump and his cohorts began buying up massive amounts of properties primarily as rental units which is one reason why apartments like the one I live in today rented for $375 a month in 1995 and currently rent for $1150 per month.

Trump and other capitalists lobbied congress for years to deregulate financial services in ways that would extend mortgages to buyers they knew would be incapable of repaying those loans.

Thats fake news

Better known as a lie

Show us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

how us the evidence that trump lobbied congress to enact the bill clinton/janet reno demand that banks make risky loans to low income voters

What "bill" was that?

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

What "bill" was that?

“Bill” as in Bill Clinton

He colluded with jesse jackson and other race hustlers to force banks to make bad loans

CRA?

Community Reinvestment Act - Wikipedia

"Economist Stan Liebowitz wrote in the New York Post that a strengthening of the CRA in the 1990s encouraged a loosening of lending standards throughout the banking industry.

"He charged the Federal Reserve with ignoring the negative impact of the CRA.[99]

"According to Manhattan Institute scholar Howard Husock, the CEO of a midsize bank reported that 20% of his institution's CRA-related mortgages were delinquent in their first year and probably 7% would end in foreclosure.[105]

"In a commentary for CNN, Congressman Ron Paul, who serves on the United States House Committee on Financial Services, charged the CRA with 'forcing banks to lend to people who normally would be rejected as bad credit risks.'[106]

"In a The Wall Street Journal opinion piece, economist Russell Roberts wrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country."

In a The Wall Street Journal opinion piece, economist Russell Robertswrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country."

And bill clinton along with other do-gooder liberals pressured congress to pass that law

n a The Wall Street Journal opinion piece, economist Russell Robertswrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country."

And bill clinton along with other do-gooder liberals pressured congress to pass that law

The CRA was passed in 1977. Clinton and other Wall Street friendly politicians claimed they wanted to use it as a means of compensating for generations of racial discrimination in US housing markets.

Most subprime loans were made by institutions that were only partially regulated by CRA restrictions.

Community Reinvestment Act - Wikipedia

"Law professor Michael S. Barr, a Treasury Department official under President Clinton,[58][115] stated that approximately 50% of subprime loans were made by independent mortgage companies that were not regulated by the CRA, and another 25% to 30% came from only partially CRA regulated bank subsidiaries and affiliates.

"Barr noted that institutions fully regulated by CRA made 'perhaps one in four' sub-prime loans, and that 'the worst and most widespread abuses occurred in the institutions with the least federal oversight'.[116]"

 

[georgephillip]

He's a vulture capitalist who bribed Republicans AND Democrats to lower the lending standards in order to ensure mortgages would be extended to people incapable of repaying those loans.

He then positioned himself to profit from foreclosures he knew would be forthcoming.

Is that capitalism or corruption?

Capitalism

Capitalism

"Corruption is endemic to the capitalist system and has not been successfully regulated away. Perhaps a system change is warranted?"

Political Corruption and Capitalism

then DC is corrupt? I agree.

hen DC is corrupt? I agree.

DC is corrupted by capitalism:

How Donald Trump's Kids Have Profited Off Their Dad's Presidency

"Individual capitalists act to corrupt government officials to serve their enterprise’s needs.

"Grouped into associations, they do likewise for their industries.

"When organized as a whole (in 'chambers of commerce' or 'manufacturers alliances,' etc.), they corrupt to secure their class interests.

"When such corruption is not secret, capitalists articulate their demands to corrupted officials as 'good for the economy or society as a whole.'

"Such phrases constitute the 'appropriate language' that enables officials publicly to disguise and hopefully to legitimate their corrupt acts."

Political Corruption and Capitalism

naw, DC is corrupted because evil elitists exist there.

naw, DC is corrupted because evil elitists exist there.

DC is corrupted by elite tax frauds, like Trump.

"Documents obtained by ProPublica show 'major inconsistencies' between the Trump Organization’s tax documents versus its loan documents, and that the organization 'reported some expenses, profits and occupancy figures for two Manhattan buildings, giving a lender different figures than they provided to New York City tax authorities.'"

Trump Organization fraud: 'A set of books for the tax guy and a set for the lender'