Why do working class Americans vote against their self interests?

[Robert W]

Working class Americans making $40,000- $50,000 a year proudly fly their TRUMP flags from their Pickup Trucks

But it is Bidenomics and the Harris economic plans that focus on stimulating the middle class. Do what is best for the working class.

The Trump economic plan is focused on what is best for Elon Musk

Biden has hurt millions of Americans. That is why Harris lost the election. Count the voters. Trump fights for all Americans. Yes even you.

 

[g5000]

I don’t blame the poor any more than the rich. Much of the blame should be placed with the dimwits that loosed the restrictions without taking into account the obvious fact that some would take advantage. If a politician makes robbing banks legal and people start to rob banks, who fault is it? In my mind, it is both, but more so the politician’s for being so naive and shortsighted.

Read my 21 part explanation.

The CRA had fuck-all to do with the crash.

That myth was invented TWO WEEKS after Lehman collapsed by a pandering dumbass who had no clue what he was talking about.

In fact, when Lehman's CEO was asked what part the CRA had in the collapse of his firm, he replied, "De minimus."

It's a myth. A hoax. A lie.

 

[g5000]

Biden has hurt millions of Americans. That is why Harris lost the election. Count the voters. Trump fights for all Americans. Yes even you.

Trump fights for himself, and no one else.

 

[g5000]

Anybody with more than 1/2 a brain and apolitical could see that the CRA most definitely had a hand in the 2008 crash. Seriously, you need to start thinking for yourself instead of letting others feed you information.

It takes half a brain to believe that lie.

Bear Stearns was not subject to the CRA.

Lehman Brothers was not subject to the CRA.

Merrill Lynch was not subject to the CRA.

Goldman Sachs was not subject to the CRA.

Countrywide was not subject to the CRA.

AIG was not subject to the CRA.

Kaupthing was not subject to the CRA.

Landsbanki was not subject to the CRA.

Glitnir was not subject to the CRA.

The Bank of Ireland was not subject to the CRA.

Allied Irish Banks were not subject to the CRA.

Anglo Irish Bank was not subject to the CRA.

Spain's banks were not subject to the CRA.

Germany's banks were not subject to the CRA.

Britain's banks were not subject to the CRA.

Greece's banks were not subject to the CRA.

What's more, you had to be willfully blind not to notice all those white middle class houses which foreclosed in your town.


The middle class and the wealthy can borrow more money than the poor. And so they were the primary targets of mortgage brokers. And they were all offered HELOCs at the same time they were applying for a mortgage.

The idiots didn't just buy houses on borrowed money, they bought boats and motorcycles and Disney vacations.

So, yeah. I picture clueless blind people like you observing all the white middle class people in your town foreclosing and saying to yourselves, "I had no idea Biff was a negro!"

How else could you have closed the loop on your idiotic CRA meme while observing all those white people defaulting?

 

[Robert W]

The CHIPS Act has resulted in all five of the global chipmakers committing to building plants in the US.

Anytime you take our money and donate it to big business, you broke the policies of the Democrats.
I wonder what the firms now must do for America.

Over the past nearly two years, 13 companies across 23 projects in 14 states have received CHIPS grants worth about $30 billion in grant awards and up to $25.1 billion in loans, according to the Semiconductor Industry Association.

 

[Robert W]

Trump fights for himself, and no one else.

As to the phony claims made against Trump, of course he fights back. But as to issues that affect Americans, he is on our team working for our good.

 

[Toddsterpatriot]

Go Back to the Crumbling Castles of Europe Where You Belong

Take all inheritances over a socially harmless $100,000, and it would gain us $10 trillion a year, which would eliminate all other taxes and pay down the debt. De-funding only those born in the 1% would give us $3 trillion a year.

You hypocrites always tell us to do it on our own, but never follow through about those who'd be nowhere without their trust funds.

Quit groveling before the Young Masters like some gutless peasant. You know perfectly well that their Dead Daddies aren't being taxed.

How much does it raise now?
it would gain us $10 trillion a year,

Post your calculations.

 

[g5000]

Anytime you take our money and donate it to big business, you broke the policies of the Democrats.
I wonder what the firms now must do for America.

Over the past nearly two years, 13 companies across 23 projects in 14 states have received CHIPS grants worth about $30 billion in grant awards and up to $25.1 billion in loans, according to the Semiconductor Industry Association.

You know who else has received billions in government subsidies?

Donald Trump's new best friend, Elon Musk.

 

[DBA]

For you to be making that claim points out that YOU are repeating what others have fed you

It is common sense, of which, you have none.

Allowing more leeway for lenders to give risky loans and then selling those loans off to unsuspecting buyers was a recipe for disaster. The changes made to CRA in 2005 loosed the restrictions even further. Once again, the left’s bleeding heart was bigger than their brains.

The CRA regulations were substantially revised again in 1995, in response to a directive to the agencies from President
Clinton
to review and revise the CRA regulations to make them more performance-based, and to make examinations more consistent, clarify performance standards, and reduce cost and compliance burden. This directive addressed criticisms that the regulations, and the agencies' implementation of them through the examination process, were too process-oriented, burdensome, and not sufficiently focused on actual results. The agencies also changed the CRA examination process to incorporate these revisions.

Spin away my indoctrinated fool.

 

[Robert W]

You know who else has received billions in government subsidies?

Donald Trump's new best friend, Elon Musk.

Musk was under contracts with Biden. Biden made use of Musk and Musk delivered in spades.

 

[Toddsterpatriot]

And you have been totally deceived IF you believe these new republicans under trump are actually working for you. trump works for trump only , giving people a few crumbs to survive. You will end up being worse off under him in the long term. Short term is the big con. You just don't see it yet.

And you have been totally deceived IF you believe these new republicans under trump are actually working for you.

Not like Harris and the Dems when they allowed, no, encouraged, no, actively aided the entry of over 12 million illegal aliens.

When they did that, were they "working for you"?

 

[Toddsterpatriot]

I've read The Big Short several times. Michael Lewis makes no mention of the CRA.

In fact, in the movie version, Mark Baum says assholes like you will try to blame the poor.

Does he mention the Fannie and Freddie mandates?

 

[g5000]

As to the phony claims made against Trump, of course he fights back. But as to issues that affect Americans, he is on our team working for our good.

Donald Trump did not want the Covid victims on a cruise ship to be allowed to come home because he didn't want them to count toward the number of Covid cases we had.

It does not get more sickening or craven than that.

Trump said he wanted testing stopped because, “When you test, you have a case. When you test, you find something is wrong with people. If we didn’t do any testing, we would have very few cases.”

Trump equated Covid cases like he viewed TV ratings!

As a result of his incompetence and stupidity, Covid got a huge head start and he is responsible for the deaths of a million American's he cares fuck-all about.

"Working for our good'. Hooooooleeeeeee SHIT!!!

 

[MisterBeale]

Working class Americans making $40,000- $50,000 a year proudly fly their TRUMP flags from their Pickup Trucks

But it is Bidenomics and the Harris economic plans that focus on stimulating the middle class. Do what is best for the working class.

The Trump economic plan is focused on what is best for Elon Musk

I'm surprised to see you post this, when even THEY admit that whole narrative is garbage.

One Year Later, Even President Biden Admits the “Inflation Reduction Act” Failed to Lower Costs for Americans​

One Year Later, Even President Biden Admits the “Inflation Reduction Act” Failed to Lower Costs for Americans

The Committee on Energy and Commerce is the oldest standing legislative committee in the U.S. House of Representatives and is vested with the broadest jurisdiction of any congressional authorizing committee.

energycommerce.house.gov

Biden Admits ‘Inflation Reduction Act’ Was The Wrong Name

After well over a year of skyrocketing consumer prices, the inflation rate is finally starting to moderate — even though gas and many other products continue to put a significant strain on the finances of working-class Americans. But as much as President Joe Biden attempts to credit his...

freedompress.com

“Naming it ‘anti-inflation’ is a joke,” said CNBC’s Kevin O’Leary. “This is going to be very inflationary almost immediately because we’re printing billions of dollars.”

How Inflation Reduction Act Will Impact Businesses | Squawkbox​

Aug 12, 2022

 

[The Sage of Main Street]

And that was because of the Post-COVID crisis that affected the entire world , not just US. But trump told you another lie and said Biden caused it. He did not. He actually has left trump a very good economy. Which trump schemes will destroy in no time. You want success all the time. The economy isn't like that , it has its ups and downs most are out of people's control. Others are a response to something else . The higher wages lead to increased prices , as well as the lack of workers. Supply and Demand. , Part of this archaic free enterprise system. Ask the experts , they'll tell you. And I know you're stupid , so does trump ,after all you fell for another one of his cons. You both got what you wanted he got a fool to.believr in him and he got you again.

Think About Potential and You Will Never Think About Zero-Sum

That is a static view. A dynamic view would replace Investor Supremacy with Inventor Supremacy. They should share corporate patents 50-50. Creative geniuses should be treated the same way we treat superior athletes, from childhood on. New wealth can only come from new ideas.

 

[Toddsterpatriot]

The restrictions in this case had to do with allowing banks to gamble on mortgages.

Derivatives

Every mortgage a bank makes is a gamble.

 

[Lesh]

Every mortgage a bank makes is a gamble.

Simplistic response and not accurate

 

[g5000]

Does he mention the Fannie and Freddie mandates?

Fannie and Freddies market share dropped from about 90 percent to 10 percent during the subprime gold rush.

Even worse, Bush's SEC voted unanimously in 2004 to waive the net capital rule for the 5 biggest broker-dealers. That waiver led directly to the demise of those broker-dealers.

All five of the broker-dealers who were given that extra special treatment by the SEC no longer exist as independent companies or converted into bank holding companies so they could be bailed out.

Bear Stearns was the first to go under. Then Lehman Brothers went under. Then Merrill Lynch went under.

Goldman Sachs and Morgan Stanley converted to bank holding companies so they could receive bailout money. Goldman was also bailed out by former Goldman Sachs CEO, Hank Paulson, who was Bush's Secretary of Treasury. Goldman Sachs received 100 cents on the dollar for their CDS's from AIG.

SEC.gov | Alternative Net Capital Requirements for Broker-Dealers That Are Part of Consolidated Supervised Entities

www.sec.gov

The Commission is amending Rule 15c3-12 (the “net capital rule”) under the Securities Exchange Act of 1934 (the “Exchange Act”) to establish a voluntary, alternative method of computing net capital for certain broker-dealers.

 

[Toddsterpatriot]

Simplistic response and not accurate

So, what was the gambling and why did it matter?

 

[GMCGeneral]

...and then a lot of ignorance and hatred. Nothing new from the right.

Wrong as usual. We just don't want government to be the end all be all to America's problems.