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Thread: Job growth cools slightly, recovery grinds on [W:225]

  1. #201
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Quote Originally Posted by Bronson View Post
    Nope

    The GSEs bought up most of the bad loans and convinced investors any losses would covered by the Feds. You are bleeting a debunked talking point. A recent economic report has confirmed beyond all refute that the CRA was the root cause of the crisis.

    Facts > your propaganda
    You lack facts and speak nonsense.

    Our analysis examining the type of lenders extending credit to LMI census tracts found no evidence that tracts with proportionally more lending by CRA-covered lenders experienced worse outcomes, whether measured by delinquency rates, high-PTI loans, or higher-priced lending. In fact, the evidence suggests that loan outcomes may have been marginally better in tracts that were served by more CRA-covered lenders than in similar tracts where CRA-covered institutions had less of a footprint. Loan purchases by CRA-covered lenders also do not appear to have been associated with riskier lending. Additionally, this analysis found no evidence that either the CRA or the GSE goals contributed to house prices appreciation during the 2001-2006 subprime buildup.

    Our regression discontinuity tests, which focus on lending and loan performance around the income levels used to determine whether loans are favored by the CRA and GSE goals, finds little evidence of an effect for either regulation, except for an increase in loan purchases by CRA-covered depositories in their assessment areas. Both loan quality and performance are clearly related to census tract income with both improving as income rises. However, these relationships are evident for both favored and not-favored loans and there is no evidence of a discontinuity at the threshold points. Data on loan volumes also fail to find evidence of a regulatory threshold effect; indeed, the share of loans originated by CRA-covered lenders in their assessment areas and the share of loans sold to the GSEs are higher in the tracts not favored by the regulations than in favored tracts. Though loan purchases by CRA-covered lenders appear to have been sensitive to the definition of a CRA-favored loan, there is no evidence that this affected the overall quality of loans originated.

    Since our tests are indirect, it would be inappropriate to conclude that the test results prove that the CRA or GSE goals did not cause or contribute to the crisis. The existence of "special CRA" programs and "targeted affordable" loans in the GSE portfolios suggests that both regulations led to some loans being underwritten with different prices or terms than might otherwise have taken place. The question is, were such actions enough to materially affect market prices and standards? We do not see evidence of this in our indirect tests. However, direct evidence is potentially available by focusing on the performance of loans originated through these programs. To date, the data to conduct such analysis is not publicly available, and until it is, we may be unable to draw definitive conclusions on the role that the CRA and GSE affordable housing goals played in the subprime crisis.
    source

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    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  2. #202
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Quote Originally Posted by Kushinator View Post
    You display your lack of knowledge on your sleeve. CRA loans were less likely to default than non-CRA loans of similar risk. Try again.
    How that alternate Universe working for you ? You know the one, where the sub-prime debacle stated in 2002 and was 100% GW Bush's fault ?

    You realize CRA and HUD were given regulatory control over banks in the early 90 s right ?

    That Fannie made a one trillion dollar commitment to the sub-prime market in 1992 and prior to that commitment only carried a 10% origination in sub-prime holdings for their previous 60 years.

    You realize the one politician who was more singularly involved than anyone else, Barney Frank got to blame the banks on his way out of congress by writing a reform bill thats part of the reason our economy is so pitiful.

    And he fought for lowering the underwriter standards for years on Mortgages.

    You libs are insufferable with your moronic assertions that GW Bush was at all complicit in a Democrat mandated bubble that started 10 years before his election.

    More "low information" liberals.

  3. #203
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Quote Originally Posted by Fenton View Post
    How that alternate Universe working for you ? You know the one, where the sub-prime debacle stated in 2002 and was 100% GW Bush's fault ?

    You realize CRA and HUD were given regulatory control over banks in the early 90 s right ?

    That Fannie made a one trillion dollar commitment to the sub-prime market in 1992 and prior to that commitment only carried a 10% origination in sub-prime holdings for their previous 60 years.

    You realize the one politician who was more singularly involved than anyone else, Barney Frank got to blame the banks on his way out of congress by writing a reform bill thats part of the reason our economy is so pitiful.

    And he fought for lowering the underwriter standards for years on Mortgages.

    You libs are insufferable with your moronic assertions that GW Bush was at all complicit in a Democrat mandated bubble that started 10 years before his election.

    More "low information" liberals.
    I presented actual evidence and not uninspiring talking points from the rabid right-of-center. When you can do the same, you may try again.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  4. #204
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Quote Originally Posted by Bronson View Post
    Nope

    The GSEs bought up most of the bad loans and convinced investors any losses would covered by the Feds. You are bleeting a debunked talking point. A recent economic report has confirmed beyond all refute that the CRA was the root cause of the crisis.

    New Study Blames Community Reinvestment Act For Mortgage Defaults - Investors.com

    Facts > your propaganda
    Bush:




    So Much for Bush's 'Ownership Society' - Newsweek and The Daily Beast


  5. #205
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Face it, this "great Bush Recession " was just more destructive redistributive Liberal policies and this time you guys probably killed whats left of our economy.

    The regulations that madated these loans were implimented in the early 90s on the basis of " fairness" as Democrats stupidly stuck their corrupt noses in a industry that seemed to function fine for the past 70 years.

    You forgot to mention that in 2005 that Bush tried to reign the GSEs in but was denied because of his Demoxrat controlled Congress.

    The people that should be doing time got off scott free because you guys dont have the integrity or intelligence to understand what happened.


    Instead you repeat nonsensical talking points. Unbeleivable.


    Anything libs stick their nose in turns into aa disaster but the sub-prime collalse was a doosie and will probably wing up finishing us off.

    Its like every liberal was raised by wolves.

  6. #206
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Quote Originally Posted by Kushinator View Post
    You lack facts and speak nonsense.



    source

    We know you lack one
    Nicely done.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

  7. #207
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Quote Originally Posted by Fenton View Post
    Face it, this "great Bush Recession " was just more destructive redistributive Liberal policies and this time you guys probably killed whats left of our economy.

    The regulations that madated these loans were implimented in the early 90s on the basis of " fairness" as Democrats stupidly stuck their corrupt noses in a industry that seemed to function fine for the past 70 years.

    You forgot to mention that in 2005 that Bush tried to reign the GSEs in but was denied because of his Demoxrat controlled Congress.

    The people that should be doing time got off scott free because you guys dont have the integrity or intelligence to understand what happened.


    Instead you repeat nonsensical talking points. Unbeleivable.


    Anything libs stick their nose in turns into aa disaster but the sub-prime collalse was a doosie and will probably wing up finishing us off.

    Its like every liberal was raised by wolves.
    More name calling rantings with no links. You are becoming a broken record.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

  8. #208
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Quote Originally Posted by poweRob View Post
    More name calling rantings with no links. You are becoming a broken record.
    Becoming? That ship has sailed.

  9. #209
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Quote Originally Posted by Fenton View Post
    Face it, this "great Bush Recession " was just more destructive redistributive Liberal policies and this time you guys probably killed whats left of our economy.

    The regulations that madated these loans were implimented in the early 90s on the basis of " fairness" as Democrats stupidly stuck their corrupt noses in a industry that seemed to function fine for the past 70 years.

    You forgot to mention that in 2005 that Bush tried to reign the GSEs in but was denied because of his Demoxrat controlled Congress.

    The people that should be doing time got off scott free because you guys dont have the integrity or intelligence to understand what happened.


    Instead you repeat nonsensical talking points. Unbeleivable.


    Anything libs stick their nose in turns into aa disaster but the sub-prime collalse was a doosie and will probably wing up finishing us off.

    Its like every liberal was raised by wolves.
    Who controlled Congress in 2005?

    Party In Power - Congress and Presidency - A Visual Guide To The Balance of Power In Congress, 1945-2008


  10. #210
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    re: Job growth cools slightly, recovery grinds on [W:225]

    Holy cow. That's embarrassing.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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