View Poll Results: Who would you rather have as president?

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  • Hillary Clinton

    19 32.20%
  • Elizabeth Warren

    40 67.80%
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Thread: Elizabeth Warren vs. Hillary Clinton[W:336]

  1. #301
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    We have a lot of friends in our neighborhood who moved here in 2005 and 2006, and their home values plummeted after they moved in. Even with more than 20% down, they are still underwater. But they are not moving and still paying. God help them if they have to move. The problem was no fault of theirs.

    My husband & I had our house built in 1998. When the value more than doubled to what we paid, we were smart and resisted the temptation of using our home as an ATM, which is why we aren't in trouble today. The people who were irresponsible are in trouble. But Warren will never tell them it was their fault (and apparently, the Warren champions who post here don't see it that way either, which explains why they support her). It's always someone else's fault....
    Other than shaming stupid and irresponsible people, do you actually stand for any solution to any problem we're talking about?

  2. #302
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    Nobody forced anyone to take a mortgage. A lender can't file a lien on your home without your approval. Smart people read what they commit to. Contracts are specific for a reason.
    Weird how those that DEMAND personal respectability NEVER demand it of Coprps and Banksters. Just weird

    Predatory Lenders' Partner in Crime

    Predatory lending was widely understood to present a looming national crisis.

    What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge?

    Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye

    In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative


    Eliot Spitzer - Predatory Lenders' Partner in Crime


    FBI saw threat of loan crisis

    "It has the potential to be an epidemic,"

    A top official warned of widening mortgage fraud in 2004, but the agency focused its resources elsewhere

    "We think we can prevent a problem that could have as much impact as the S&L crisis,"

    They ended up with fewer resources, rather than more.

    FBI saw threat of loan crisis - Los Angeles Times


    The FBI correctly identified the epidemic of mortgage control fraud at such an early point that the financial crisis could have been averted had the Bush administration acted with even minimal competence

    William K. Black: The Two Documents Everyone Should Read to Better Understand the Crisis


    NOW WHICH PARTY OF THE TRANSACTION HAD A FIDUCIARY RESPONSIBILITY TO THEIR SHAREHOLDERS AGAIN?

  3. #303
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by dad2three2001 View Post
    The commenter is referring to your post #192.,Where you posited (your copy and links) that somehow CRA done in the 1990's, where enforcement (and compliance) was weakened in the Bush admin, had ANYTHING to do with the Bankster bubble Bush was cheerleader for in the 2000's
    The CRA was a component of it yes, greatly altered and weakened by the CLINTON administration, not the Bush administration. I also made the point in the second post that it really didn't present much problem throughout the Reagan and Bush 41 administrations. But it was a factor and was used to make unintended mischief that turned out to be serious mischief later on. Bush was running for office in 2000. He was not President then. But if you can find a campaign point he was presenting that contributed to the housing bubble, go for it.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

  4. #304
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    tres borrachos's Avatar
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by Unitedwestand13 View Post
    if anyone is shirking personal accountability it is the banks that gave loans to people who could not afford it.
    The big banks and mortgage brokers who gave out loans share in the responsibility. Which is why I'm concerned that they will be the only ones standing in a few years after the CFPB & Dodd-Frank regulate the community banks & credit unions right out of the market. I'm not sure why anyone wants to see them thrive, which they will.

    The mortgage brokers are still largely underregulated.

    The community banks weren't the ones who made the risky loans. Generally speaking, they kept their same standards as they've maintained for years.

  5. #305
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    None of my links were from the AEI, Heritage or CATO. Thanks for confirming you never read them.
    They were ALL talking points from those right wing 'think tanks' Sorry, 7 years following Bush subprime crisis

  6. #306
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by dad2three2001 View Post
    Weird how those that DEMAND personal respectability NEVER demand it of Coprps and Banksters. Just weird

    Predatory Lenders' Partner in Crime

    Predatory lending was widely understood to present a looming national crisis.

    What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge?

    Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye

    In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative


    Eliot Spitzer - Predatory Lenders' Partner in Crime


    FBI saw threat of loan crisis

    "It has the potential to be an epidemic,"

    A top official warned of widening mortgage fraud in 2004, but the agency focused its resources elsewhere

    "We think we can prevent a problem that could have as much impact as the S&L crisis,"

    They ended up with fewer resources, rather than more.

    FBI saw threat of loan crisis - Los Angeles Times


    The FBI correctly identified the epidemic of mortgage control fraud at such an early point that the financial crisis could have been averted had the Bush administration acted with even minimal competence

    William K. Black: The Two Documents Everyone Should Read to Better Understand the Crisis


    NOW WHICH PARTY OF THE TRANSACTION HAD A FIDUCIARY RESPONSIBILITY TO THEIR SHAREHOLDERS AGAIN?
    Fabulous. Thanks for sharing. Did you want to talk about community banks, or the FBI and the subprime crisis, which didn't involve the community banks?

  7. #307
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by dad2three2001 View Post
    They were ALL talking points from those right wing 'think tanks' Sorry, 7 years following Bush subprime crisis
    No, American Banker isn't a think tank, and it isn't right wing. Nor is CBS. Nor is Bloomberg. Try again maybe?

  8. #308
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by AlbqOwl View Post
    The CRA was a component of it yes, greatly altered and weakened by the CLINTON administration, not the Bush administration. I also made the point in the second post that it really didn't present much problem throughout the Reagan and Bush 41 administrations. But it was a factor and was used to make unintended mischief that turned out to be serious mischief later on. Bush was running for office in 2000. He was not President then. But if you can find a campaign point he was presenting that contributed to the housing bubble, go for it.
    The CRA had an impact on the housing market no question. So did the lowering of the lending standards at the GSEs, which happened during the Clinton era. So did the policies Henry Cisneros put in while he was HUD Secretary for Clinton. Bush made mistakes. Barney Frank made mistakes. The Democrats made mistakes, the Republicans made mistakes, the big banks made mistakes, the irresponsible homeowners made mistakes. The only ones who didn't make mistakes were the community banks. They have to pay for everyone else's mistakes.

  9. #309
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by AlbqOwl View Post
    The CRA was a component of it yes, greatly altered and weakened by the CLINTON administration, not the Bush administration. I also made the point in the second post that it really didn't present much problem throughout the Reagan and Bush 41 administrations. But it was a factor and was used to make unintended mischief that turned out to be serious mischief later on. Bush was running for office in 2000. He was not President then. But if you can find a campaign point he was presenting that contributed to the housing bubble, go for it.
    It's Still Not CRA

    Janet Yellin, President and CEO of the Federal Reserve Bank of San Francisco recently made this point, saying "Most of the loans made by depository institutions examined under the CRA have not been higher-priced loans, and studies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households."


    It's Still Not CRA | New America Blogs


    Given CEOs' proclivity for government bashing, any lenders being driven to write bad loans by the CRA would have been on CNBC screaming at the top of their lungs.

    But that dog that didn't bark.


    Nobody forced the big five investment banks to do what they did; they were not subject to CRA or other regulations common to depository banks. In fact, they mainly bought and sold loans rather than originate them. They did it because they thought they would make money.

    The historical "originate and hold" mortgage model was replaced with the "originate and distribute" model. Incentives were such that you could get paid just to originate and sell the mortgages down the pipeline, passing the risk along. The big investment banks simply connected the investors to the originators, helped by the AAA ratings.


    CRA? CLINTON? LOL

  10. #310
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    I can't believe anyone with any kind of critical thinking skills thinks that the homeowners who took interest only loans from brokers, or no-doc loans with an interest-only period that changed to a balloon at 18%, aren't responsible for their own failures. Those were the people who hurt the ones who made good decisions before their houses became worth less than a litterbox.

    It's Progressivism at its finest. Whatever happened to personal responsibility?
    : I think in too many cases it was a dream that they could live in a house they never would have qualified for under normal banking rules. When you didn't have to prove you even had a job, for pete's sake, word got around and everyone wanted to brag about buying a big house with zero money down. Many of them had no idea what owning any house even entailed. Remember seeing pictures of those that just lived there, and nothing else? They were trashed! I think a lot of them still had some vague idea that someone else was responsible for repairs, like their landlords were before. They were the ones that moved out when it became apparent they couldn't afford a house, while the responsible ones suffered in the ensuing bust. We see the lack of personal responsibility in more and more areas today, and it is affecting all of us.

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