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Thread: GOP likely to urge Obama officials not to shred documents

  1. #51
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    Re: GOP likely to urge Obama officials not to shred documents

    Quote Originally Posted by Dittohead not! View Post
    It's a little bit like that birth certificate that the birthers keep yammering on about, isn't it?

    Birthers are an overblown group as far as numbers go. Kind of like those who think Bush and Cheney were behind 9/11, or should be jailed. I would hope that these people find some kind of help.

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    Re: GOP likely to urge Obama officials not to shred documents

    Quote Originally Posted by j-mac View Post
    Birthers are an overblown group as far as numbers go. Kind of like those who think Bush and Cheney were behind 9/11, or should be jailed. I would hope that these people find some kind of help.

    j-mac
    Correct. There aren't many birthers, nor many 9/11 conspiracy theorists out there. It's just that they make a lot of noise compared to their numbers.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: GOP likely to urge Obama officials not to shred documents

    Quote Originally Posted by obvious Child View Post

    I'll let you research that one.
    Hell, I'll even do this for you Ditto.

    Subprime mortgage crisis - Wikipedia, the free encyclopedia

    Subprime mortgages amounted to $35 billion (5% of total originations) in 1994,[75] 9% in 1996,[76] $160 billion (13%) in 1999,[75] and $600 billion (20%) in 2006.
    That is less than 1% of our economy.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: GOP likely to urge Obama officials not to shred documents

    Quote Originally Posted by obvious Child View Post
    Hell, I'll even do this for you Ditto.

    Subprime mortgage crisis - Wikipedia, the free encyclopedia



    That is less than 1% of our economy.
    Your original statement was:


    Housing in the US is less then 1% of the economy. Tell me how less then 1% of the economy caused this mess.
    Now, that has changed to:

    Subprime mortgages amounted to $35 billion (5% of total originations) in 1994,[75] 9% in 1996,[76] $160 billion (13%) in 1999,[75] and $600 billion (20%) in 2006.
    That is less than 1% of our economy.
    $600 Billion is nearly as much as we spend on the military. It is more than any one year's deficit before the crash. Are you really going to say that a liability that went from $35 billion in '94 to $600 B in '06 couldn't have caused the crash in '08? I wonder how much that was in '08? I'm willing to bet that the amount didn't go down.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: GOP likely to urge Obama officials not to shred documents

    Quote Originally Posted by Dittohead not! View Post
    Your original statement was:

    Now, that has changed to:
    In the context of the CRA, subprime was the subject. Sure I could have specified it better? Yes. And I should know better then to assume users here will bother to read the actual discussion rather then just jumping in to the discussion completely blind to what the context is.

    $600 Billion is nearly as much as we spend on the military. It is more than any one year's deficit before the crash. Are you really going to say that a liability that went from $35 billion in '94 to $600 B in '06 couldn't have caused the crash in '08?
    Come again? just a liability? No. No. No. Mortgages by themselves represent both an asset and a liability. And when you do securitization, they gain even more levels of assets and liabities. And yes, I am arguing that it could not have caused the crash by itself. If the WHOLE subprime went down, that would have caused some real damage but hardly enough to take down the entire banking sector which has trillions upon trillions of assets at any one time. Mere reserve requirements are large enough to cover the deficits. The total US mortgage market is roughly $14.2 trillion. And not all subprime went bad. Only a sizable fraction, so the total isolated effect was minor. The bigger problem was coupling it with the over use of leverage in the commercial sector and the fraudlent securitization of the mortgages. What happens when large banks buy hundreds of billions of securitized subprime with leverage and those securities go bad? They suddenly have a huge gaping hole on their balance sheet (and cash flow statement) with liabilities they took out to buy those loans. If we did not securitize them, or at least did it honestly, I seriously doubt we'd have this problem. Canada has subprime loans as well. What they didn't do we leverage everything else up to their eyes. And their banking sector never had the problems our's did. Harper is very against the global bank tax as Canada's banking system was responsible and conservatve. Unlike their southern neighbor.

    I wonder how much that was in '08? I'm willing to bet that the amount didn't go down.
    Compared to the rest of the market, not material.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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