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Thread: U.S. sues S&P over subprime ratings

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by Hard Truth View Post
    Again, all the evidence presented has led me to

    this conclusion:
    The CRA does not require loans to unqualified borrowers. The enforcement measures implemented in the 1990s may have indirectly encouraged banks to give riskier loans. CRA loans were not a sufficiently significant portion of the defaulted loans to be the most significant cause of the mortgage crisis.
    Then no amount of objective data will convince you.

    CRA was the catalyst to a massive housing bubble and HUD regulations were the catalyst that bank rolled the collapse.

    Youv'e got some predispositon to not accept the truth for some reason and its unfortunate.

    So many people are completelx unable to analyze data objectively.

    And this is huge.

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by iguanaman View Post
    Neither is your revisionist crap. You have nothing but drivel that only fools would believe.
    Nicely worded to skirt the rules against personal attacks.

    Somehow I don't think reasoned argument is the way to get through to you.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by Fenton View Post
    Pinto and Wallison are YOUR sources apparently.

    Read the thread. Ive posted plenty of objective evidence, quotes from HUD and the GSEs, from Cuomo, Ive posted historical events, time, date, the actual names of the laws and regulations and agencies that created this mess.

    What have you posted ? Because NOTHING youv'e posted or will post will contradict anything I've said unless your'e willing to lie.

    The typical rebut from a Lib is the simplistic accusation that "its Bush's Fault" and then some desperate attempt starting somewhere around 2005. Unbeleivable.

    Someone even tried to quote Krugman. Paul Krugman. Yes, the lunatic Oped writer for the NY times.

    I guess that was supposed to be objective.

    Its not my fault your'e either too slow or too partisan to see the truth here.

    Ive "got nothing" but post after post of data. Youv'e offered up nonsense. Like your ignorant hopes to jail some banker, when the Govt GSEs financed this disaster.

    And people like you vote. Wow


    Yep - got it. Fenton says it is so, therefore it is and if I don't believe him then I'm just one of those crazy wackjobs who's got nothing but hatred of Bush.

    You have made a lot of absolutist statements with zero confirmation that hasn't come from AEI, CATO, the Hoover guys or similar ideologues and as Prof Krugman says - He's been right more often than any of his critics, so why believe those guys.
    “And I have no doubt that every new example will succeed, as every past one has done, in shewing that religion & Govt will both exist in greater purity, the less they are mixed together.”
    ~ James Madison, letter to Edward Livingston, July 10, 1822

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by Somerville View Post
    Yep - got it. Fenton says it is so,
    therefore it is and if I don't believe
    him then I'm just one of those crazy wackjobs who's got nothing but hatred of Bush.

    You have made a lot of absolutist statements with zero confirmation that hasn't come from AEI, CATO, the Hoover guys or similar ideologues and as Prof Krugman says - He's been right more often than any of his critics, so why believe those guys.
    Krugman ? He just said that " austerity " caused pur 3rd quarter shrinkage.

    We spent 900 billion, more in total Federal outlays than the prior quarter.

    What "austerity" is he talking about ?

    Krugmans a lunatic OpEd writer for the NY times.

    He traded his objectivity for his Obama lust. He's only been "right" because he parrots the moronic drivel from the left.

    Hey, post his opinion on the sub-prime. I dare you. Cmon, I need a good laugh.

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by Jack Hays View Post
    Nicely worded to skirt the rules against personal attacks.


    Somehow I don't think reasoned argument is the way to get through to you.
    Thats his 110%. Its the best he has to offer and the culmanation of all of his Liberal ideology.

    Very little factual data. Lots of Obama worship and insults.

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by Fenton View Post
    Thats his 110%. Its the best he has to ofer and the culmanation of all of his Liberal ideology.

    Very little factual data. Lots of Obama worship and insults.
    Thanks. Nice to have my impression confirmed by someone who's been here longer.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by OpportunityCost View Post
    then why were people that were previously unqualified getting loans after CRA regulations were changed in the 90s?
    As I said "The enforcement measures implemented in the 1990s may have indirectly encouraged banks to give riskier loans."

    However, no one in these dozens of pages has quoted or linked to the language in the CRA or the promulgating regulations that requires lenders to loan to unqualified borrowers. Such requirements do not exist.

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by Fenton View Post
    Then no amount of objective data will convince you.

    CRA was the catalyst to a massive housing bubble and HUD regulations were the catalyst that bank rolled the collapse.

    Youv'e got some predispositon to not accept the truth for some reason and its unfortunate.

    So many people are completelx unable to analyze data objectively.

    And this is huge.
    Why can't you or anyone else point to the language in the CRA or the promulgating regulations that requires lenders to loan to unqualified borrowers? I am partially convinced that beginning in the 19990s there was pressure be to provide more loans to low income and minority people, but nothing requiring loans to unqualified buyers. Many people with an income well below the median can still afford to buy a home, especially in places with high income neighborhoods included in the same geographic area as low income areas. (i.e. Marin and San Mateo counties are lumped in with Alameda County and San Francisco in California for determining median income)

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    Re: U.S. sues S&P over subprime ratings

    Paul Krugman, what does that fool know?

    Paul Robin Krugman (born February 28, 1953) is an American economist, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times.[7][8] In 2008, Krugman won the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. According to the prize Committee, the prize was given for Krugman's work explaining the patterns of international trade and the geographic concentration of wealth, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.[9]

    Krugman is known in academia for his work on international economics (including trade theory, economic geography, and international finance),[10][11] liquidity traps, and currency crises. He is the 20th most widely cited economist in the world today[12] and is ranked among the most influential academic thinkers in the US.[13]

    As of 2008, Krugman has written 20 books and has published over 200 scholarly articles in professional journals and Awards..........

    1991, American Economic Association, John Bates Clark Medal.[87] Since it was awarded to only one person, once every two years (prior to 2009), The Economist has described the Clark Medal as 'slightly harder to get than a Nobel prize'.[88]
    1992, Fellow of the American Academy of Arts and Sciences (AAAS).[35]
    1995, Adam Smith Award of the National Association for Business Economics[89]
    1998, Doctor honoris causa in Economics awarded by Free University of Berlin Freie Universität Berlin in Germany
    2000, H.C. Recktenwald Prize in Economics, awarded by University of Erlangen-Nuremberg in Germany.
    2002, Editor and Publisher, Columnist of the Year.[90]
    2004, Fundación Príncipe de Asturias (Spain), Prince of Asturias Awards in Social Sciences.[91]
    2004, Doctor of Humane Letters honoris causa, Haverford College[92]
    2008, Nobel Memorial Prize in Economics for Krugman's contributions to New Trade Theory.[93] He became the twelfth John Bates Clark Medal winner to be awarded the Nobel Memorial Prize.
    2012, Doctor honoris causa from the Universidade de Lisboa, Universidade Técnica de Lisboa and Universidade Nova de Lisboa[94][95]

    A May, 2011 Hamilton College analysis of 26 politicians, journalists, and media commentators who made predictions in major newspaper columns or television news shows from September 2007 to December 2008 found that Krugman was the most accurate. Only nine of the prognosticators predicted more accurately than chance, two were significantly less accurate, and the remaining 14 were no better or worse than a coin flip. Krugman was correct in 15 out of 17 predictions, compared to 9 out of 11 for the next most accurate media figure, Maureen Dowd. Krugman's result was found to be statistically significant at the p<0.001 level.[96]

    Foreign Policy named Krugman one of its 2012 FP Top 100 Global Thinkers "for wielding his acid pen against austerity".[97]
    Wikipedia

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    Re: U.S. sues S&P over subprime ratings

    Quote Originally Posted by Hard Truth View Post
    beginning in the 19990s there was pressure be to provide more loans to low income and minority people, but nothing requiring loans to unqualified buyers.
    I suspect the answer is that "low income and minority people" and "unqualified buyers" are categories with at least some overlap.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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