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LMAOROG
Gov't loans performed 400%-600% better than the private markets..
Examining the big lie: How the facts of the economic crisis stack up
•The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.
•Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.
•Private lenders not subject to congressional regulations collapsed lending standards. Taking up that extra share were nonbanks selling mortgages elsewhere, not to the GSEs. Conforming mortgages had rules that were less profitable than the newfangled loans. Private securitizers — competitors of Fannie and Freddie — grew from 10 percent of the market in 2002 to nearly 40 percent in 2006. As a percentage of all mortgage-backed securities, private securitization grew from 23 percent in 2003 to 56 percent in 2006
Only one of the top 25 subprime lenders in 2006 was directly subject to the housing laws overseen by either Fannie Mae, Freddie Mac or the Community Reinvestment Act — Source: McClatchy
These firms had business models that could be called “Lend-in-order-to-sell-to-Wall-Street-securitizers.” They offered all manner of nontraditional mortgages — the 2/28 adjustable rate mortgages, piggy-back loans, negative amortization loans. These defaulted in huge numbers, far more than the regulated mortgage writers did.
Examining the big lie: How the facts of the economic crisis stack up | The Big Picture
You can put out one left wing lie rag after another and it's not going to change anything.
Obama is the worst president in history.
His economy was the worst in history.
His policies have put 100 million people out of work.
That's not just incompetence. It's TREASON.