Mortgage Crisis – Who is Responsible
Posted by admin on Nov 21, 2009 in Uncategorized |
, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn’t get out of their loans by selling their houses. Rep. Barney Frank denounced Mankiw, saying he had no “concern about housing.” How dare you oppose suicidal loans to people who can’t repay them! The New York Times reported that Fannie Mae and Freddie Mac were “under heavy assault by the …
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Jews are to blame. Face the facts. I am jewish. You dumb gentiles. We created the A.R.M..
WRONG!!! These idiots are turning the Republican party into a RACIST sham. Compliance technologies studies show that 72% of subprime borrowers were caucasian. So guess what. Poor minorities, aka. a fraction of the whole don’t have the collective billions to cause this problem with. People who spread this trash around only want to keep a value of their realestate they know the economy could not support. Scapegoating isn’t going to solve anything.
You do realize that the largest ethnicity of poor people in America is Caucasian, right? Wait, who am I kidding, you’re clearly retarded and don’t know a damn thing.
White people make up over 70% of our country. So basically all I’m saying is that the poor minorities can’t be responsible for the subprime crisis. So you never proved me wrong. I don’t know why you find the truth so painful?
You’re dead on, JB. I’ve researched archives from 1999 on, mostly NYTimes and WSJ, and they reconcile with everything you’ve said. It’s important to read the original articles, as many naysayers are going back and ‘reconstructing’ these events. That being said, I certainly am displeased with the Bush administration for reckless spending, although I blame congress for going along. Obama is rapidly eclipsing Bush in the spending dept.. Steve
This demonstrates the need for CONSERVATIVES in Congress. Hedonists / Liberals will give away the farm and our future for the sake of their own comfort.
US National security in the hands of liberals… our enemies will be ecstatic. .
Yes, we need fiscal conservatives in Congress. Most Republicans have lost their way. And, the Democrats are unwilling to be conservative. We’re a nation of idiots. Congress has been unwilling to be fiscally responsible. So,
let’s vote the pinheads out and put people in there who work fir us, After all, we are the government. We’ve simply got the wrong kind of people at the helm. I want my country back. We are sliding down the slippery slope to socialism>>>>facism>>>>>communism.
you are absolutely right, the dems and repubs were both in on this that is very clear. and no one is even talking about greenspan and his role, not raising interest rates? interesting. basically it is just another smokscreen to distract us, like racism, bird flu, global warming, if you wnat the truth follow the money!
Anyone who blames the poor people in this are deflecting the blame from the real culprits: THE CROOKS IN CONGRESS WHO TOOK MASSIVE POLITICAL CONTRIBUTIONS FROM FREDDIE MAC AND FANNIE MAE. I for one would like to see these criminals perp-walked out of their offices (which are actually our offices) so they can face a jury of their peers (us). This goes way beyond carelessness and being bad at their jobs… they committed and caused a financial crisis by allowing/contributing to a ponzy-sceme.
Sounds to me like he finds your stupid comments painful.
@Truelove6, I presented FACTs.
Why do you love drama so much?
@Lumadar, it was reported that many of these “poor white ethnics” are, well upper middle class SPECULATORS.
@karen32862, i already contacted her to express opposition to the bailout this fall. And of course she didn’t listen.
@Lumadar, what are you talking about?
Wasn’t the CRA used to give loans to poor non-white people?
And i hate to tell you this, but this CRA blame shows the people who believe it can’t apply basic numerical logic to a situation. Which is a damn shame because the lowest rate of foreclosures happened in red states, like Louisiana. Republicans could’ve used that outcome in our favor. Instead Fox is tossing out myths which is irrelevant to the big scheme. watch?v=XdbQKo4rD40
who is responsible! the Government for christ sake!!!!!!!!
As you can see from your own link, s.190 (109th) passed the banking committee (hence the word ‘favorable.’) The banking committee chaimrman (Shelby R-Ala) never sent it to the floor for a vote. Also, President bush released two policy statements from the White House opposing both s.190 and HR 1469. You also fail to mention that McCain didn’t sponsor it until AFTER it had died in committee.
Everything you said I believe is true. I will only add that I believe the bill was threatened with a filibuster that the republicans did not have the votes to stop.
If the republicans new that this was such an important piece of legislation to get passed in order to save the country from a near depression, then they should have been out on the steps of the capital building yelling at the top of their lungs that the democrats were blocking it. They obviously didn’t feel that passionate about it
In honor of your being a good sport about it, I’m going to do something I don’t normally do, and give props to Bush. The reason he opposed it was because it still had the provision that government could appoint board members to the boards of Freddie and Fannie. He wanted them to be completely separate from government, and not give the impression that they were still government entities.
I blame both parties for the mess we are in. The government interfered in the free market enticing banks to make loans that should not have been made. And then they failed to regulate the effect of what they had done. They did not see the cause and effect. They never think things through to there natural outcome. They created an atmosphere for greed, and then they failed to follow up with new regulation to counter that greed. This may not be all that went wrong, but it’s part of it.
Do you know the Christ of which you speak? I do! I would appreciate it if you would not use His name unless you are calling on Him for a reason and not just using His name in a vain statement. That is what God’s third commandment means…”Thou shalt not take the name of the Lord they God in vain…” In other words, PLEASE unless you need Him don’t use His name!!! Thank you!
Jesus-Holy-Fuckin’-Pogo-Stick-Jumpin’-Hippie-Goddamn-CHRIST!!! Would you be equally as offended if someone said “for Allah’s sake”?
Hero: It was government “requirement” (Obama was an attorney for ACORN and they pressured Clinton ‘98 to “regulate” who got loans) that led to the mortgages being financed for african Americans because they were being turned down at a higher rate than white folks. That’s regulation, any way you cut it. jbranstetter04 is 90% correct.
Cool, 90%, that’s like an A.
@joysinout
Yeah, don’t call Jesus unless you have a reason, you probably interrupted a miracle with your comment.
Religion would be funny if it didn’t have such dire consequences to go along with it.
Look joy, I’m not saying there is no god, because I don’t know if there is or isn’t, but I can tell you if there is a god or supreme being, then man made religions are an insult to him, her, or it.
if you keep up to date on developments and whats around in the market, you don’t just have to endure your mortgage, you can mater it.
masterthemortgage. com
Take a look and see what’s available, you might be pretty surprised.