Will obama get the blame for this

[bigrebnc1775]

never EVER admitt your wrong.

you people have NO morals and the voters will reward your duplicity

No morals because we don't lap at the feet of obama?

 

[BlindBoo]

Yes those foreclosures are to blame. but it's crazy for the banks to loan money to people they knew could not pay it back. I wonder why they would do this?

Glass-Steagall, officially known as the Banking Act of 1933, mandated the separation of banks according to the types of business they conducted. Investment banks, whose securities related activities resulted in relatively large risks, were to be separate from commercial banks, whose depositors needed greater protection. The Act created deposit insurance and the government wasn't about to allow taxpayer-backed insurance of commercial bank deposits to be exposed to securities related risks. It was a prudent and sensible separation. Bankers tried for years to undermine and overturn Glass-Steagall, but it took time.

The explosion in subprime loans after 2000 were made by unregulated mortgage companies, and the vast majority of them were issued to higher income borrowers, not low- to moderate-income borrowers. - The Gramm-Leach-Bliley Act of 1999 (GLBA) dismantled Depression-era law that had prohibited bank holding companies from owning other financial companies such as investment, commercial banking, and insurance companies. GLBA ignited a wave of mergers and hampered government regulators charged with preventing conflicts of interest and risky financial behavior.

Private lenders—not the government-backed Fannie and Freddie—issued the vast majority of subprime loans, and to low- and moderate-income borrowers in particular. Fannie and Freddie did not guarantee and securitize large quantities of subprime loans.

http://www.marketoracle.co.uk/Article8210.html

How Did This Happen? » Myths and Facts about the Financial Crisis

Clinton threats of fining banks for not making loans to minorities, would that have had an effect on loans procedures?

The CRA tried to stop banks from not lending to qualified minorities. It was never intended to force banks to make loans to unqualified people. It was not a significant factor in the housing meltdown as very few of the toxic loan originated from the CRA lender.

 

[Truthmatters]

will you EVER apologise for repetedly lying about the facts here?

 

[bigrebnc1775]

will you EVER apologise for repetedly lying about the facts here?

Will you ever tell the truth?

 

[Soggy in NOLA]

never EVER admitt your wrong.

you people have NO morals and the voters will reward your duplicity

You're ALWAYS wrong and dishonest... yet you never admit it. Not that it matters, everybody knows who you are.

 

[Truthmatters]

never EVER admitt your wrong.

you people have NO morals and the voters will reward your duplicity

No morals because we don't lap at the feet of obama?

You bring SHAME on the Air Force name.

You think you can lie with impunity?

 

[Soggy in NOLA]

will you EVER apologise for repetedly lying about the facts here?

I don't know, will you?

 

[bigrebnc1775]

Glass-Steagall, officially known as the Banking Act of 1933, mandated the separation of banks according to the types of business they conducted. Investment banks, whose securities related activities resulted in relatively large risks, were to be separate from commercial banks, whose depositors needed greater protection. The Act created deposit insurance and the government wasn't about to allow taxpayer-backed insurance of commercial bank deposits to be exposed to securities related risks. It was a prudent and sensible separation. Bankers tried for years to undermine and overturn Glass-Steagall, but it took time.

The explosion in subprime loans after 2000 were made by unregulated mortgage companies, and the vast majority of them were issued to higher income borrowers, not low- to moderate-income borrowers. - The Gramm-Leach-Bliley Act of 1999 (GLBA) dismantled Depression-era law that had prohibited bank holding companies from owning other financial companies such as investment, commercial banking, and insurance companies. GLBA ignited a wave of mergers and hampered government regulators charged with preventing conflicts of interest and risky financial behavior.

Private lenders—not the government-backed Fannie and Freddie—issued the vast majority of subprime loans, and to low- and moderate-income borrowers in particular. Fannie and Freddie did not guarantee and securitize large quantities of subprime loans.

http://www.marketoracle.co.uk/Article8210.html

How Did This Happen? » Myths and Facts about the Financial Crisis

Clinton threats of fining banks for not making loans to minorities, would that have had an effect on loans procedures?

The CRA tried to stop banks from not lending to qualified minorities. It was never intended to force banks to make loans to unqualified people. It was not a significant factor in the housing meltdown as very few of the toxic loan originated from the CRA lender.

It wasn't intended but it was used that way wasn't it?

 

[Truthmatters]

never EVER admitt your wrong.

you people have NO morals and the voters will reward your duplicity

You're ALWAYS wrong and dishonest... yet you never admit it. Not that it matters, everybody knows who you are.

your as low as they come.

You dont evern know what this conversation is about and you ar eclucking along to insult me like the slave you are.
Cluck cluck cluckity cluck you headless chicken

 

[Soggy in NOLA]

Clinton threats of fining banks for not making loans to minorities, would that have had an effect on loans procedures?

The CRA tried to stop banks from not lending to qualified minorities. It was never intended to force banks to make loans to unqualified people. It was not a significant factor in the housing meltdown as very few of the toxic loan originated from the CRA lender.

It wasn't intended but it was used that way wasn't it?

Yes.

 

[bigrebnc1775]

never ever admitt your wrong.

You people have no morals and the voters will reward your duplicity

no morals because we don't lap at the feet of obama?

you bring shame on the air force name.

You think you can lie with impunity?

holy shit you are shameless

 

[Soggy in NOLA]

no morals because we don't lap at the feet of obama?

you bring shame on the air force name.

You think you can lie with impunity?

holy shit you are shameless

She must start drinking at like 08:00.... the postings get stranger as the day goes on.

 

[bigrebnc1775]

never EVER admitt your wrong.

you people have NO morals and the voters will reward your duplicity

You're ALWAYS wrong and dishonest... yet you never admit it. Not that it matters, everybody knows who you are.

your as low as they come.

You dont evern know what this conversation is about and you ar eclucking along to insult me like the slave you are.
Cluck cluck cluckity cluck you headless chicken

What a joke way to derail a thread get into and half start your old bullshit you lie why are you lying you are shameless.

Well tell us TM why are new home sales at an all time low?

 

[BlindBoo]

Clinton threats of fining banks for not making loans to minorities, would that have had an effect on loans procedures?

The CRA tried to stop banks from not lending to qualified minorities. It was never intended to force banks to make loans to unqualified people. It was not a significant factor in the housing meltdown as very few of the toxic loan originated from the CRA lender.

It wasn't intended but it was used that way wasn't it?

I don' think there is a definitive answer of yes or no. I mean do I think some people intimidated some banks into home loans for unqualified people? Sure, but was it the norm for these CRA loan. No I don't and the records don't indicate that the majority of CRA loans were toxic. Got any examples of the Clinton administrtion intimidating banks?

 

[BlindBoo]

The CRA tried to stop banks from not lending to qualified minorities. It was never intended to force banks to make loans to unqualified people. It was not a significant factor in the housing meltdown as very few of the toxic loan originated from the CRA lender.

It wasn't intended but it was used that way wasn't it?

Yes.

Some but not for the most part. It was not banks who were regulated by the CRA that made most of the toxic loans, it was private lenders.

 

[bigrebnc1775]

The CRA tried to stop banks from not lending to qualified minorities. It was never intended to force banks to make loans to unqualified people. It was not a significant factor in the housing meltdown as very few of the toxic loan originated from the CRA lender.

It wasn't intended but it was used that way wasn't it?

I don' think there is a definitive answer of yes or no. I mean do I think some people intimidated some banks into home loans for unqualified people? Sure, but was it the norm for these CRA loan. No I don't and the records don't indicate that the majority of CRA loans were toxic. Got any examples of the Clinton administrtion intimidating banks?

Here's an interesting read. I think why the CRA is protected is because most of those loans were transferred to Freddie Mac. You wouldn't know it because Freddie bit the bullet.

Bear Stearns, the CRA, and Freddie Mac

 

[francoHFW]

Oh, fer chissake, the CRA ended Redlining, fine for years- then W and the deregugulatin' fools came alomg and cut regs and enforcement for their pals on Wall St so ANYONE could get a mortgage, with tease rates and obfuscation and scams all the way. Finally Fanny+Freddie got into the act too. Cue boom and bust bubble typical of Pub regimes, and a total meltdown. Anything else is pure Pure Pubcrappe for the Dupes. Fox/Rush/Pubs are totally FOS, and the dupes are brainwashed fools and tools...

NEXT!

 

[bigrebnc1775]

Oh, fer chissake, the CRA ended Redlining, fine for years- then W and the deregugulatin' fools came alomg and cut regs and enforcement for their pals on Wall St so ANYONE could get a mortgage, with tease rates and obfuscation and scams all the way. Finally Fanny+Freddie got into the act too. Cue boom and bust bubble typical of Pub regimes, and a total meltdown. Anything else is pure Pure Pubcrappe for the Dupes. Fox/Rush/Pubs are totally FOS, and the dupes are brainwashed fools and tools...

NEXT!

Frances way over your head .

 

[Harry Dresden]

your party deserves its death spiral

i dont want to ruin your day Truth.....but your party should dissolve in a vat of acid with the other party....they are both killing this Country.....but i bet you only think one of them is....

 

[Harry Dresden]

There's no bigger fool or partisan hack on this board than YOU, and EVERYONE here knows it.

Please shut the **** up.

well maybe Dean.....

No, I've seen dean change an opinion when presented with facts.

This hack? Never.

are you sure Rat?.....Dean said he is right 99.9999% of the time.....