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U.S. Jobless Rate Unexpectedly Declines to 8.6%

OpportunityCost said:
You do understand that the widespread use of credit default swaps gained widespread use because of its use in the home market?
You do understand that the easing of rules was part of a compromise package to pass new rules for CRA in 97?
You do understand saying zero means it had NO impact. We know that isnt true or it wouldnt have been calls to reform it as the first act of the 2008 housing and finance committees.

Current figures are that some $1trillion in paper guaranteed by GSEs has foreclosed. No impact eh?
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You do understand that only a tiny percentage of the bad subprime loans were subject to the CRA, right? You do realize that that tiny percentage was of much higher quality than the non-CRA loans? The CRA loans defaulted at about a 50% lower rate than the non CRA loans, yes? And you understand that it the loans hadn't been obtained from CRA lenders that there was absolutely nothing preventing the borrowers from obtaining loans from non-CRA lenders? And the non-CRA loans were more expensive and had worse terms than the CRA loans? So that, if there had been no CRA, there would have been more defaults?

Not sure why you find this so hard to grasp.
 
AdamT said:
You do understand that only a tiny percentage of the bad subprime loans were subject to the CRA, right? You do realize that that tiny percentage was of much higher quality than the non-CRA loans? The CRA loans defaulted at about a 50% lower rate than the non CRA loans, yes? And you understand that it the loans hadn't been obtained from CRA lenders that there was absolutely nothing preventing the borrowers from obtaining loans from non-CRA lenders? And the non-CRA loans were more expensive and had worse terms than the CRA loans? So that, if there had been no CRA, there would have been more defaults?

Not sure why you find this so hard to grasp.
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Do you realize that "your" President has been office almost three years now and the economic conditions regarding Home Ownership hasn't improved? Do you realize that poverty has increased in the last three years? Do you realize the number of people on food stamps has increased the last few years? Keep buying the Obama rhetoric and looking backward all to divert from the Obama record.
 
Conservative said:
Do you realize that "your" President has been office almost three years now and the economic conditions regarding Home Ownership hasn't improved? Do you realize that poverty has increased in the last three years? Do you realize the number of people on food stamps has increased the last few years? Keep buying the Obama rhetoric and looking backward all to divert from the Obama record.
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I believe you're in the wrong thread. This one is about the real estate crash that happened under Shrub's watch. You know, "your" boy who oversaw the worst economic implosion in three generations. Here's a hint: if you run the bus into a bridge abutment and kill half the passengers, it's a little tacky to whine about the body shop taking too long to fix the damage.
 
AdamT said:
I believe you're in the wrong thread. This one is about the real estate crash that happened under Shrub's watch. You know, "your" boy who oversaw the worst economic implosion in three generations. Here's a hint: if you run the bus into a bridge abutment and kill half the passengers, it's a little tacky to whine about the body shop taking too long to fix the damage.
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What you don't seem to understand and probably never will is that there is plenty of blame to go around including those Democrats that you want to ignore. The "smartest" man ever to hold the office with total control of the Congress didn't fix the problem and if you heard his speech yesterday continues to promote class warfare and massive govt. growth.

That isn't a prescription to success even though he is a walking advertisment for what is great in America. Have you ever heard Obama trumpet American exceptionalism and his story? He came from nothing and rose to President of the United States and now promotes redistributing the wealth of those who made the best of the opportunities this country creates.

Keep buying the Obama rhetoric and ignore his record.
 
Conservative said:
What you don't seem to understand and probably never will is that there is plenty of blame to go around including those Democrats that you want to ignore. The "smartest" man ever to hold the office with total control of the Congress didn't fix the problem and if you heard his speech yesterday continues to promote class warfare and massive govt. growth.

That isn't a prescription to success even though he is a walking advertisment for what is great in America. Have you ever heard Obama trumpet American exceptionalism and his story? He came from nothing and rose to President of the United States and now promotes redistributing the wealth of those who made the best of the opportunities this country creates.

Keep buying the Obama rhetoric and ignore his record.
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Translation: blah blah Obama blah liberal blah blah
 
Retail clerk type jobs. If a republican was in the Whore House these numbers would have never been brought out.
 
AdamT said:
Translation: blah blah Obama blah liberal blah blah
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Actually the liberal translation is "I cannot refute the Obama record so I have to divert from it"

"your" President gave one of the most divisive speeches of any President yesterday and is an embarrassment to the office.
 
AdamT said:
I believe you're in the wrong thread. This one is about the real estate crash that happened under Shrub's watch. You know, "your" boy who oversaw the worst economic implosion in three generations. Here's a hint: if you run the bus into a bridge abutment and kill half the passengers, it's a little tacky to whine about the body shop taking too long to fix the damage.
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Very well put Adam, I love the metaphor. :thumbs:
 
Conservative said:
Well put? LOL, have any of you ever taken a civics class?
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oooo, me! me! I took a civics class. We discussed the powers that the president has and doesn't have. It was quite clear that the POTUS does not have the power to force banks to make loans, nor does he run the economy. I think you must be thinking of the old Soviet Union, or perhaps China under Mao, where the leader did run the economy. It didn't turn out so well for them, so I'm not sure we even want our leader running the economy.
 
Dittohead not! said:
oooo, me! me! I took a civics class. We discussed the powers that the president has and doesn't have. It was quite clear that the POTUS does not have the power to force banks to make loans, nor does he run the economy. I think you must be thinking of the old Soviet Union, or perhaps China under Mao, where the leader did run the economy. It didn't turn out so well for them, so I'm not sure we even want our leader running the economy.
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Now that was well put however directed to the wrong person. Hopefully Pb and Adam actually read your post
 
Conservative said:
Now that was well put however directed to the wrong person. Hopefully Pb and Adam actually read your post
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Thank you.

You're the one who asked whether anyone had taken a civics class, but I see you took one also.

No one who is debating which president was at fault for the mortgage crisis or the economic collapse managed to stay awake during the discussion of the powers of the executive branch, but they don't seem to be paying attention when I point out that we don't have a dictatorship either.
 
No president is responsible for either. And congress is only one of many responsible for the disaster. There is more than enough blame for the housing crisis to go around.
 
Boo Radley said:
No president is responsible for either. And congress is only one of many responsible for the disaster. There is more than enough blame for the housing crisis to go around.
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Exactly. 91% of the population understands that. The other 9% approves of the job Congress has been doing.
 
Presidents are like quarterbacks - get too much credit when things are going well, take too much blame when things are going south.
 
StillBallin75 said:
Presidents are like quarterbacks - get too much credit when things are going well, take too much blame when things are going south.
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So you are saying that Tim Tebow would make a better president than Cam Newton? I just might agree with that :)
 
whysoserious said:
I am confused by this statement.
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Clearly Cam Newton is the better player on nearly all accounts; but Tebow is the one who gets all the credit (and glory) for his team's resurgence.

Presidents are like quarterbacks - get too much credit when things are going well, take too much blame when things are going south.
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For some strange reason, it seems to always go well for Tim Tebow.
 
Goldenboy219 said:
Clearly Cam Newton is the better player on nearly all accounts; but Tebow is the one who gets all the credit (and glory) for his team's resurgence.
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Ohhh, I gotcha now. I'm a little slow, but you knew that already. ;)
 
AdamT said:
I believe you're in the wrong thread. This one is about the real estate crash that happened under Shrub's watch. You know, "your" boy who oversaw the worst economic implosion in three generations. Here's a hint: if you run the bus into a bridge abutment and kill half the passengers, it's a little tacky to whine about the body shop taking too long to fix the damage.
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You ignored the video I sent because it was "Right Wing" but had you taken a couple of minutes you would have seen the record where the Republicans voted along party lines to reform the mortgage system while the Democrats, again along party lines, refused reform.

Now this is being blamed on George Bush! I doubt serious reform will ever take hold with these attitudes and assumptions. There is little interest in the truth anymore.
 
Grant said:
You ignored the video I sent
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Your video is grossly ill-informed. Go back and review the quantitative data i provided before putting your foot in your mouth any deeper.
 
Grant said:
You ignored the video I sent because it was "Right Wing" but had you taken a couple of minutes you would have seen the record where the Republicans voted along party lines to reform the mortgage system while the Democrats, again along party lines, refused reform.

Now this is being blamed on George Bush! I doubt serious reform will ever take hold with these attitudes and assumptions. There is little interest in the truth anymore.
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The problem with that theory is that a reform measure actually passed in the House, in bipartisan fashion, with the help of Barney Frank, but was killed in the Senate due to opposition by the Bush administration and Greenspan. And that is according to Mike Oxley, who was the Republican Congressman who shepherded the bill throught the House.
 
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