View Poll Results: Was it Ever?

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  • Yes

    6 18.75%
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    18 56.25%
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Thread: Was A Big Deal Ever Possible?

  1. #151
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    There are proper reasons for wanting more Americans to become homeowners.
    Want whatever you like, but it's wrong to use government to try and acheive such a goal. Hint, that's why it backfired in every important way.

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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    We agree it si not a party specific problem, and that there is little to no difference between the parties. However, I think you put too much, and I would call it partisan, emphasis on Frank. There are proper reasons for wanting more Americans to become homeowners.
    I would love for the blind to see also.

    We completely tossed aside standards that have been in place for decades. Look, I have no problem with wanting to see more people put into houses. My first house was bought through FHA. Frank knew things were out of control though. We had commissions and hearings on the mess long before the collapse. Frank stood up and insisted that all is well. So one of two things happened there. He is either incompetant or he simply didn't care.

    Now, Bush had to know all of this also. He had to. He was too busy in the middle east and making sure that was financed to care about this problem at home. No this does not all fall on the shoulders of Frank but he was the face of the program. We then allowed him and Dodd (who was as responsible) to write the legislation that was supposed to fix these problems (they have done nothing of the sort).

    Bush and Dodd are gone.

  3. #153
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by 1Perry View Post
    I would love for the blind to see also.

    We completely tossed aside standards that have been in place for decades. Look, I have no problem with wanting to see more people put into houses. My first house was bought through FHA. Frank knew things were out of control though. We had commissions and hearings on the mess long before the collapse. Frank stood up and insisted that all is well. So one of two things happened there. He is either incompetant or he simply didn't care.

    Now, Bush had to know all of this also. He had to. He was too busy in the middle east and making sure that was financed to care about this problem at home. No this does not all fall on the shoulders of Frank but he was the face of the program. We then allowed him and Dodd (who was as responsible) to write the legislation that was supposed to fix these problems (they have done nothing of the sort).

    Bush and Dodd are gone.
    I'm not excusing Frank for his insistance. It is more your view of his motives.

    Nor was this the whole of the problem. There were many giving subprime mortages that were not associated with the government. ok around you, many have found away to take advantage of the poor, lower income people with poor credit. Putting the full blame ona government program is a mistake.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  4. #154
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Mach View Post
    Want whatever you like, but it's wrong to use government to try and acheive such a goal. Hint, that's why it backfired in every important way.
    They didn't have to, there were plenty of subprime lenders outside the government.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    I'm not excusing Frank for his insistance. It is more your view of his motives.
    I don't doubt that some of his motives were good. So were Bush's IMO with the war in Iraq but both allowed that to get away from them. They allowed things to try and keep the lid on that are unexcusable.

    Nor was this the whole of the problem. There were many giving subprime mortages that were not associated with the government. ok around you, many have found away to take advantage of the poor, lower income people with poor credit. Putting the full blame ona government program is a mistake.
    I don't blame one government program. What have we been talking about the last day? G.S. fraud and why we are not doing anything about it. But that does come back to the governments failure in enforcing their own laws.

  6. #156
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Mach View Post
    Why not blame the big finance banks, like Goldman, in addition to the fed (formerly Greenspan) then, since you noted they were a big part of the issue? You have to blame them first, then seek to get backing by one or both political parties on the issue. If you simply blame both political parties, that makes neither have to change any behavior, since it becomes a moot point.

    I mean that to us all, not so much you...beause you're right about some of the causes, but we all screw up when it comes to how to fix it (including government).
    It should make both have to change. It is important to understand the all problems and not simply choose a political side.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    They didn't have to, there were plenty of subprime lenders outside the government.
    That would not have been there if they were forced to hold these loans.

  8. #158
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by 1Perry View Post
    I don't doubt that some of his motives were good. So were Bush's IMO with the war in Iraq but both allowed that to get away from them. They allowed things to try and keep the lid on that are unexcusable.

    Good? Not sure I can either's were good. I simple say there are valid reasons for wanting more home ownership (think It's Wonderful Life).

    I don't blame one government program. What have we been talking about the last day? G.S. fraud and why we are not doing anything about it. But that does come back to the governments failure in enforcing their own laws.
    I think when we started you singled out F&F as the culprits, But I see us closer than being far apart.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    I think when we started you singled out F&F as the culprits, But I see us closer than being far apart.
    I'm not sure what I said but you can't generally take one statement out of full context and come to a conclusion. I still can not figure out why we are not insisting that the government force these bad loans back onto G.S.

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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by 1Perry View Post
    I'm not sure what I said but you can't generally take one statement out of full context and come to a conclusion. I still can not figure out why we are not insisting that the government force these bad loans back onto G.S.
    My best guess, is as noted, they have too many on government with ties to these companies.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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