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

[georgephillip]

The Dems fought everything he wanted to do .
It's the Dems who wanted to do it themselves and when they won they did it.
Too little to late.

What role did Phil Gramm (R/D) play in the housing crisis?

Who caused the great crash of 2008?

Practically zero.

25 People to Blame for the Financial Crisis - TIME

"As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation.

"He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street.

"He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission.

"Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far."

 

[sparky]

Minsky’s genius was to show that financially complex capitalism is inherently unstable. Under conditions of stability, firms, banks and households will, over time, move from a position where their income pays off their debt, to one where it can only meet the interest payments on it. Finally, as instability rises, and central banks respond by expanding the supply of money, people end up borrowing just to pay back interest. The price of shares, homes and commodities rockets. Bust becomes inevitable.

Kudo's on Minsky , but i gotta say, even an uneducated redneck bluecollar (that has conversations w/goats) could have factored unstability in by now....

Further, the whole Dodd/Frank banking commish was just over the top hogwash, especially considering they were Glass Steagal rescinding advocates long before they were placed in public positions to scrutinize their very former actions......by the same Congress that voted for them at that

Fox/Henhouse anyone?

~S~

 

[Toddsterpatriot]

Our economy is purposely constructed for cyclical boom / busts , and further legislated for 'too big to fail' bailouts for the 1% , at the 99%'s expense.

~S~

Hyman Minsky may have defined the problem in the wake of the Great Depression:

To Move Beyond Boom and Bust, We Need a New Theory of Capitalism

"Minsky’s genius was to show that financially complex capitalism is inherently unstable.

"Under conditions of stability, firms, banks and households will, over time, move from a position where their income pays off their debt, to one where it can only meet the interest payments on it.

"Finally, as instability rises, and central banks respond by expanding the supply of money, people end up borrowing just to pay back interest.

"The price of shares, homes and commodities rockets.

"Bust becomes inevitable."

Booms and busts have always happened.
With or without central banks.

Booms and busts have always happened.
With or without central banks.

Debt slaves also predate central banks

Don't borrow money.

 

[tycho1572]

Would you agree that Trump is smarter than you, georgephillip?

 

[Toddsterpatriot]

The Dems fought everything he wanted to do .
It's the Dems who wanted to do it themselves and when they won they did it.
Too little to late.

What role did Phil Gramm (R/D) play in the housing crisis?

Who caused the great crash of 2008?

Practically zero.

25 People to Blame for the Financial Crisis - TIME

"As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation.

"He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street.

"He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission.

"Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far."

"He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street.

Yup. Glass-Steagall wouldn't have stopped banks from writing, or buying, crappy mortgages

"He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission.

Yup. Credit default swaps didn't cause the financial crisis.

​

"Credit-default swaps took down AIG, ​

​

Yup​

​

which has cost the U.S. $150 billion thus far."​

Baloney.​

 

[georgephillip]

Minsky’s genius was to show that financially complex capitalism is inherently unstable. Under conditions of stability, firms, banks and households will, over time, move from a position where their income pays off their debt, to one where it can only meet the interest payments on it. Finally, as instability rises, and central banks respond by expanding the supply of money, people end up borrowing just to pay back interest. The price of shares, homes and commodities rockets. Bust becomes inevitable.

Kudo's on Minsky , but i gotta say, even an uneducated redneck bluecollar (that has conversations w/goats) could have factored unstability in by now....

Further, the whole Dodd/Frank banking commish was just over the top hogwash, especially considering they were Glass Steagal rescinding advocates long before they were placed in public positions to scrutinize their very former actions......by the same Congress that voted for them at that

Fox/Henhouse anyone?

~S~

Further, the whole Dodd/Frank banking commish was just over the top hogwash, especially considering they were Glass Steagal rescinding advocates long before they were placed in public positions to scrutinize their very former actions......by the same Congress that voted for them at that

Fox/Henhouse anyone?

My nominee for Head Fox:

25 People to Blame for the Financial Crisis - TIME

"From the start, Bush embraced a governing philosophy of deregulation.

"That trickled down to federal oversight agencies, which in turn eased off on banks and mortgage brokers.

"Bush did push early on for tighter controls over Fannie Mae and Freddie Mac, but he failed to move Congress.

"After the Enron scandal, Bush backed and signed the aggressively regulatory Sarbanes-Oxley Act.

"But SEC head William Donaldson tried to boost regulation of mutual and hedge funds, he was blocked by Bush's advisers at the White House as well as other powerful Republicans and quit. Plus, let's face it, the meltdown happened on Bush's watch.

 

[georgephillip]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

 

[tycho1572]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

No? Are you saying you have achieved more than Trump?

 

[AzogtheDefiler]

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?

"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...'"

Yeah, lenders LOVE it when people default on their loans. DURR
Banks lost trillions.
Moron.

LMAO. Georgie is a moron. I agree.

 

[AzogtheDefiler]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

Georgie, he won in 2016. Get over it. No amount of memes and cut and pastes will change that.

 

[georgephillip]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

No? Are you saying you have achieved more than Trump?

o? Are you saying you have achieved more than Trump?

How are you defining "achieved"?
I wasn't born into a rich, parasitic family that made me a millionaire before turning eight.
I've never been accused of raping a 13 year-old.
I've never been sued or required anyone to sign a NDA.
I've never been convicted of civil tax fraud charges.
Trump is a useless eater who will die in prison.
I won't; will you?

 

[Toddsterpatriot]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

No? Are you saying you have achieved more than Trump?

o? Are you saying you have achieved more than Trump?

How are you defining "achieved"?
I wasn't born into a rich, parasitic family that made me a millionaire before turning eight.
I've never been accused of raping a 13 year-old.
I've never been sued or required anyone to sign a NDA.
I've never been convicted of civil tax fraud charges.
Trump is a useless eater who will die in prison.
I won't; will you?

I wasn't born into a rich, parasitic family that made me a millionaire before turning eight.

That's awful!

So how much are you worth now?

 

[tycho1572]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

No? Are you saying you have achieved more than Trump?

o? Are you saying you have achieved more than Trump?

How are you defining "achieved"?
I wasn't born into a rich, parasitic family that made me a millionaire before turning eight.
I've never been accused of raping a 13 year-old.
I've never been sued or required anyone to sign a NDA.
I've never been convicted of civil tax fraud charges.
Trump is a useless eater who will die in prison.
I won't; will you?

I’m not here to fix the problems you have because of the leftist propaganda. However.. I will share a few vids that speaks volumes for the man you’re trying to denigrate ...




Now that we’ve seen an example of what Trump has done to help others... I’m gonna mention how I adopt families every year for Christmas.

Can you give us an example of a democrat doing anything for anyone using their own money?
How about you, georgephillip? Have you ever reached into your pocket to help someone?

People who do nothing while complaining deserve a smack upside the head.

 

[georgephillip]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

Georgie, he won in 2016. Get over it. No amount of memes and cut and pastes will change that.

Georgie, he won in 2016. Get over it. No amount of memes and cut and pastes will change that

Impeachment will change that.
Will you SOB like a SNOWFLAKE?

 

[AzogtheDefiler]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

Georgie, he won in 2016. Get over it. No amount of memes and cut and pastes will change that.

Georgie, he won in 2016. Get over it. No amount of memes and cut and pastes will change that

Impeachment will change that.
Will you SOB like a SNOWFLAKE?

Impeachment?! LOL

keep dreaming. You’re the king snowflake here.

 

[tycho1572]

I almost forgot about this one.... georgephillip

 

[tycho1572]

Here’s an example of Trump providing his jet to help save a child...

For tale of Jewish child ‘saved’ by Trump, a tragic end


The billionaire came to the rescue of the Ten family and whisked their ailing son Andrew from LA to NY on a private jet 27 years ago, but the story does not finish there

 

[tycho1572]

I honestly don’t know of any democrats who would do what Trump has done to help anyone.
The man obviously cares about others, and is the best president we could have hoped for.

 

[georgephillip]

Would you agree that Trump is smarter than you, georgephillip?

No.

Trump is the least intelligent and most uneducated POTUS in history;how could anyone "think" otherwise?

Revealed: Trump's professor thought he was his 'dumbest student' ever - Study International

Georgie, he won in 2016. Get over it. No amount of memes and cut and pastes will change that.

Georgie, he won in 2016. Get over it. No amount of memes and cut and pastes will change that

Impeachment will change that.
Will you SOB like a SNOWFLAKE?

Impeachment?! LOL

keep dreaming. You’re the king snowflake here.

Impeachment?! LOL

keep dreaming. You’re the king snowflake here.

What Trump's Ukraine phone call really means

 

[georgephillip]

I almost forgot about this one.... georgephillip

Imagine how much more good Trump could have done if he paid his taxes?

President Trump Slams New York Times Report Accusing Him Of Tax Fraud