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- Smoking Guns
- Rep: 330
Re: 2016 Presidential Election Thread
The other countries were tied into it because they invested into Freddie Mac/Fannie Mae and when the US economy suffers the whole world suffers. Banks all over the world were in on the housing market.
- tejastech08
- Rep: 194
Re: 2016 Presidential Election Thread
If Obama didn't make every fucking thing about Race he wouldn't be so bad. But he is so fucking PC and pro minority (Islam too) you can't take him serious.
And now he is going to propose a $10 tax on every barrel of oil. Really good idea when there are a bunch of oil companies about to go bankrupt at $30 oil. As someone who works in the oil industry, I will vote for the GOP candidate no matter what. At least they aren't trying to wipe out my job (along with millions of other oil industry jobs).
Re: 2016 Presidential Election Thread
Republicans cannot run an economy. They can't. The ideology is a failure.
You must be forgetting Reagan, one of the greatest presidents of all time.
The only thing Obama had to do to be successful was not be a republican.
Take away Obamacare and he's nothing but a goddamn neocon.
His presidency has been a disaster.
I am not a republican, but the democrats blame GW Bush for every fucking thing. EVERYTHING. they make excuses for Obama about everything.
Yep. They hated Bush for everything but when Obama continued the SAME policies they loved him for it.
I'm not a democrat.
Years ago you were willing to fight me to the death over Jimmy Carter. You sure as shit aren't conservative(or even independent).
There was no oversight or regulation, either, that caused the predatory loans. I wonder who's on the side of no regulation, hmmm.
And it also happened under Bush.
https://en.wikipedia.org/wiki/Glass%E2% … _of_repeal
And stop trying to blame one party for everything. They were BOTH in on it.
I'll vote for Hillary
Did you vote for Bush? If not, why not? Like Obama, she's going to "stay the course".
The Democratic Party is way more left than when Bill won.
Here's what made Clinton good and Reagan great....they move to the center, play both sides against one another and in the end usually get what they want. There are a few bad examples under both but in general they both knew how to run the country.
I'd sell my soul to the devil for another Reagan to save us again.
Romney is as vapid and with as much substance as a plastic Ken doll.
IMO he's the most corrupt man to ever run for president. Its scary how close he even came to getting it.
I always felt Obama doesn't like being president.
He doesn't. It was all a game to him. An empty suit. A perfect corporate puppet. He likes to sit around all day watching ESPN. We need an actual leader...not someone who needs to keep up to date on the latest college basketball scores.
It is not the low income earners fault at all. It was the policy they came up with to give them loans that was the issue.
Divney I understand your point(and its valid) but SG is right. I witnessed this firsthand in my family. I had an aunt and uncle(he murdered her in 2004) who bought a house. Neither of them EVER worked. They were both on SSI, which is something like $700 a month. People in that financial situation who are living off the government do NOT need to own a home. Period. This same situation was happening all over the country.
Everyone doesn't deserve to have everything. Just because some middle class guy works hard for his family to own a home doesn't mean the unemployed living in trailer parks deserve that same home.
Re: 2016 Presidential Election Thread
It is not the low income earners fault at all. It was the policy they came up with to give them loans that was the issue.
It was unsustainable. The influx in loans meant influx in sales, mean increased demand, meant increased costs, meant more foreclosures, then the financial crisis hit and thousands of people foreclosed... They created the "sub prime" market.. That means they gave loans to people with bad credit, etc with variable rates so it was cheap at first but after 5 years the rates went up causing a major cluster fuck. The whole system was fucked up.
The overwhelming majority of these loans weren't backed by any federal entity. They were "mortgage houses" set up with Wall Street money, who gave out loans, then immediately resold them to be re-bundled as securities. The ratings agencies were some of the biggest culprits of this disaster, because they awarded these dogshit securities AAA ratings. Ultimately though, many people were complicit in the bubble: Lenders, Wall Street financiers, ratings agencies, Realtors, appraisers, Mortgage brokers, and the buyers themselves.
I'm also tired of hearing that the Democrats "blocked" anything. 1) Show me one bill proposal put forth by the GOP to tighten up lending practices. 2) Explain to me how a minority party (GOP had the House/Senate/Executive at the time) was able to block this imaginary proposal? Nobody blocked anything, because there was nothing to block. If the GOP wanted to do something back then, they could have easily done it with little if any opposition.
Re: 2016 Presidential Election Thread
Clinton could have taken out Osama Bin Laden.... and I think USS Cole and WTC Bombing happened under his watch. Had Clinton has a 3rd and 4th term much if that decade would have gone the same fucking way.
Clinton, like Bush had a domestic as well as a foreign born terror attack on his watch. The perpetrators of both (Twin towers bombing and Oklahoma bombing,) both had their sorry asses put in jail.
Re: 2016 Presidential Election Thread
You admit the housing crisis goes back basically to making sure everyone got a house correct? And who propped up those toxic loans and predatory lending to mainly African Americans? THE FUCKING DEMOCRATS. then it all collapsed because everyone got in on it and everyone started taking advantage of it, even the banks because it was easy money. Not everyone needs their own home or free cell phone or free college tuition. It is that mentality that creates this entitlement nanny state that will hurt us for decades to come.
Nobody forced the banks to give out loans. The banks gave out loans because THEY MADE MONEY and they were greedy. Who propped up the loans? Wall Street, that's who.
You think only poor people took out sub prime loans? Reminds me of my dickhead cousin, who lost all nine of his houses during the bust, then blamed the entire thing on the poor blacks. Funny how when it comes to personal responsibility, Republicans sure like to blame it all on the least among us. He was quick to brag about the money he made prior though. So when he was up, he was a genius. When he lost his ass, then it was everybody elses fault.
The free cell phone thing...started way before Obama btw. It was enacted in 1985 while Reagan was president.
Re: 2016 Presidential Election Thread
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.It is not the low income earners fault at all. It was the policy they came up with to give them loans that was the issue.
Divney I understand your point(and its valid) but SG is right. I witnessed this firsthand in my family. I had an aunt and uncle(he murdered her in 2004) who bought a house. Neither of them EVER worked. They were both on SSI, which is something like $700 a month. People in that financial situation who are living off the government do NOT need to own a home. Period. This same situation was happening all over the country.
Everyone doesn't deserve to have everything. Just because some middle class guy works hard for his family to own a home doesn't mean the unemployed living in trailer parks deserve that same home.
Yea I get that man, believe me. But that was just a small percentage of the bigger issue. Cramer's got the score.
Re: 2016 Presidential Election Thread
The overwhelming majority of these loans weren't backed by any federal entity. They were "mortgage houses" set up with Wall Street money, who gave out loans, then immediately resold them to be re-bundled as securities. The ratings agencies were some of the biggest culprits of this disaster, because they awarded these dogshit securities AAA ratings. Ultimately though, many people were complicit in the bubble: Lenders, Wall Street financiers, ratings agencies, Realtors, appraisers, Mortgage brokers, and the buyers themselves.
This &
Nobody forced the banks to give out loans. The banks gave out loans because THEY MADE MONEY and they were greedy. Who propped up the loans? Wall Street, that's who.
You think only poor people took out sub prime loans? Reminds me of my dickhead cousin, who lost all nine of his houses during the bust, then blamed the entire thing on the poor blacks. Funny how when it comes to personal responsibility, Republicans sure like to blame it all on the least among us. He was quick to brag about the money he made prior though. So when he was up, he was a genius. When he lost his ass, then it was everybody elses fault.
absolutely this. Speculators, I tell you. But this is now well off topic, yea? Maybe delete all these banking posts? Or not, whatever..
- Smoking Guns
- Rep: 330
Re: 2016 Presidential Election Thread
Cramer, I posted 2 articles and 3 videos. Are they all wrong?
Don't forget too, we had a supply and demand issue. Supply exceeded demand. Which is why many builders went under. Also the banks collapsed and we went into a recession. They all were impacted by each other. The 5 year and 10 year arms with no money down caused a lot of problems. Though good for people with a lot of cash bad ideas for people who are cash poor.
- Smoking Guns
- Rep: 330
Re: 2016 Presidential Election Thread
Just to give you folks some idea about what I do, I am a home builder that survived the housing bubble burst. I saw a lot of shit in my day... I am still building today.
