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Thread: "It's not going to end Well "

  1. #191
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    Re: "It's not going to end Well "

    Quote Originally Posted by Vern View Post
    Remember when you believed:

    President Obama was born in Kenya
    His BC a forgery
    he wants to kill old people
    the vile and disgusting "stand down" lies

    I do. Those lying conservative narratives like your "editorial" require you to ignore the facts. Oh and just like most conservatives here, your "editorial" has to resort to lies. Case in point.

    "That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. "

    While its a matter of opinion if the "bill" would have accomplished anything it just another blatant conservative lie to say the democrats stopped it. Republicans controlled congress and Senate Leader Frist refused to allow a vote on it after it passed committee . And fenton can confirm it. If you have any questions, here's a thread that can answer them
    I see your attempt to dodge the question is noted. without actually dealing with what is being commented on. This has nothing to do with obama.
    It was shown numerous times that fannie and freddie were out of control and all they did was stick their head in the sand.

    Frank's fingerprints are all over the financial fiasco - The Boston Globe

    i can quote other democrats along the same time but those two where the biggest and loudest. it doesn't surprise me though as chriss dodd was number 1 on the
    donation list either freddie or fannie i can't remember which one.

    the liberals in congress continued to stop any reform to freddie and fannie.

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    Re: "It's not going to end Well "

    Christ on a cross ...

    The housing meltdown happened because rich people are able to run the government from inside the government and write the rules to benefit themselves.

    It doesn't matter who is in the White House or who has a majority in Congress. The ones with money can and will pay whoever is in power at the time to do whatever it is that they need to have done to increase their wealth.
    I'm not going to chase you while you run around with the goalpost in your arms.

  3. #193
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    Re: "It's not going to end Well "

    There was a study published a few months ago. I heard the story on NPR. This study concluded that the vast majority of foreclosures were not of homeowners who couldn't afford their mortgage, although those did make up a small percentage, they were by light weight developers and flippers who got over extended and walked away. It was like 80% of them. I'll have to find that and post it. Kind of blows holes in a lot of theories about fannie and freddie.
    All of life's important lessons are usually learned the hard way. Me
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  4. #194
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    Re: "It's not going to end Well "

    Quote Originally Posted by trblmkr View Post
    There was a study published a few months ago. I heard the story on NPR. This study concluded that the vast majority of foreclosures were not of homeowners who couldn't afford their mortgage, although those did make up a small percentage, they were by light weight developers and flippers who got over extended and walked away. It was like 80% of them. I'll have to find that and post it. Kind of blows holes in a lot of theories about fannie and freddie.
    I don't doubt that Fannie and Freddie overbought the MBSs, though. And the rating agencies should have all gone to jail for their gross negligence. There were a lot of moving pieces in the meltdown.
    I'm not going to chase you while you run around with the goalpost in your arms.

  5. #195
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    Re: "It's not going to end Well "

    Quote Originally Posted by Critter7r View Post
    I don't doubt that Fannie and Freddie overbought the MBSs, though. And the rating agencies should have all gone to jail for their gross negligence. There were a lot of moving pieces in the meltdown.
    You got that right. Much of our financial systems wows can be blamed, IMHO, on performance pay/bonuses that incentivise the wrong behaviors. Or exaggerate practices that are not viable in the long term. Matter of fact we need to work of that. Long term planning and strategies. Chasing the quick buck can work once or twice, but eventually someone has to pay.
    All of life's important lessons are usually learned the hard way. Me
    Just two more generations and we will have learned or the experiment will fail. Me
    My America is Great. It just has some people in it who aren't.

  6. #196
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    Re: "It's not going to end Well "

    Quote Originally Posted by ludin View Post
    I see your attempt to dodge the question is noted. without actually dealing with what is being commented on. This has nothing to do with obama.
    It was shown numerous times that fannie and freddie were out of control and all they did was stick their head in the sand.
    Ludin, the reason you couldn't "read" that I told you that republicans controlled congress is because it shreds your "reality". Its not your fault you can grasp the fact that republicans controlled congress so Dowd and Frank couldn't "stop" anything. Its still dishonest its just not your fault.

    And you can find a million "editorials" that tell you what you want to believe but instead of looking for the "next" one, why not address the documented lies of the first editorial you posted? It told you democrats stopped a magical bill from passing. It was a complete and total lie. I understand actual reality is hard for you so you have to read this as many times as necessary. The magical bill passed the committee and the republican leader of the senate (Frist) refused to allow a vote on it. And you're never going to guess who told Frist to do that.
    the liberals in congress continued to stop any reform to freddie and fannie.
    I hate to have to do this because I don't think you are ready but Bush stopped reform. He was the president and again, republicans controlled congress. Here's what Bush said about the House version of the magical bill you think would have magically stopped the Bush Mortgage Bubble

    STATEMENT OF ADMINISTRATION POLICY

    The Administration strongly believes that the housing GSEs should be focused on their core housing mission, particularly with respect to low-income Americans and first-time homebuyers. Instead, provisions of H.R. 1461 that expand mortgage purchasing authority would lessen the housing GSEs' commitment to low-income homebuyers.


    George W. Bush: Statement of Administration Policy: H.R. 1461 - Federal Housing Finance Reform Act of 2005

    yes, he literally said he was against reform because it "would lessen the housing GSEs' commitment to low-income homebuyers". Read that over and over until you understand.
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    and I turn down more work than I accept to avoid hiring Americans.
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    What proof is there Qaddafi ordered or financed that bombing? ......Qaddafi had the integrity to fight with his military. I don't believe he used terrorists.
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  7. #197
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    Re: "It's not going to end Well "

    Quote Originally Posted by ludin View Post
    I see your attempt to dodge the question is noted.
    Ludin, where'd you go? I'd ask fenton where he went but he never answers questions. seriously Ludin, if even you cant think of some silly made up of thin air response then certainly it has to occur to you that what you believe is just more conservative lies. Remember when your conservative masters told you:

    resident Obama was born in Kenya
    His BC a forgery
    he wants to kill old people
    the vile and disgusting "stand down" lies

    Ludin, can you please explain to me why you choose narrative over integrity?
    Quote Originally Posted by RetiredUSN View Post
    and I turn down more work than I accept to avoid hiring Americans.
    Quote Originally Posted by Lord of Planar View Post
    What proof is there Qaddafi ordered or financed that bombing? ......Qaddafi had the integrity to fight with his military. I don't believe he used terrorists.
    Quote Originally Posted by Conservative View Post
    You claim the economy was destroyed when Bush left office

  8. #198
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    Re: "It's not going to end Well "

    Quote Originally Posted by Vern View Post
    Ludin, where'd you go? I'd ask fenton where he went but he never answers questions. seriously Ludin, if even you cant think of some silly made up of thin air response then certainly it has to occur to you that what you believe is just more conservative lies. Remember when your conservative masters told you:

    resident Obama was born in Kenya
    His BC a forgery
    he wants to kill old people
    the vile and disgusting "stand down" lies

    Ludin, can you please explain to me why you choose narrative over integrity?
    Can you please explain to me what any of that nonsense has to do with the thread and why you can't address what is being discussed.

    I don't have to entertain that nonsense and I won't.
    You post was a red herring and a dodge.

    Go back and address what was discussed or don't bother.

  9. #199
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    Re: "It's not going to end Well "

    Quote Originally Posted by Critter7r View Post
    I don't doubt that Fannie and Freddie overbought the MBSs, though. And the rating agencies should have all gone to jail for their gross negligence. There were a lot of moving pieces in the meltdown.
    Fannie and Freddie MBS purchases were largely irrelevent.

    Here's Fannie and Freddie's basic decades old bussiness model. They purchase mortgages, they turn them into securities and then they sell those securites.
    Whats relevent is during the run up to 2008, the GSEs sold trillions of dollars in MBSs and the ONLY MBS that were given AAA status were agency MBS.

    Fannie and Freddies MBS recieved that rating because US debt had a AA rating at the time.
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  10. #200
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    Re: "It's not going to end Well "

    Quote Originally Posted by trblmkr View Post
    There was a study published a few months ago. I heard the story on NPR. This study concluded that the vast majority of foreclosures were not of homeowners who couldn't afford their mortgage, although those did make up a small percentage, they were by light weight developers and flippers who got over extended and walked away. It was like 80% of them. I'll have to find that and post it. Kind of blows holes in a lot of theories about fannie and freddie.
    Fannie and Freddies very substantial and centralized role in the subprime fiasco is no theory. Without the GSEs , there wouldnt have been a 2008 Subprime meltdown.

    Prior to 1995, the GSEs purchased primarily prime mortgages. After securitizing them as agency MBS, those securitizies would be sold off with a '" AAA " rating
    GSEs debt was for years considered as safe as US Treasuries and thats because the GSEs had very high standards when it came to the type of loans they purchased

    That all changed when Bill Clinton lowered those standards through his 1995 National Homeowners strategy. Clinton gave them affordable lending " goals " which included quotas for the purchase of subprime loans that strated at 46 percent.

    That is 46 percent of loans the GSEs purchased had to be subprime. By 1999, just Fannie mae under the leadership of Franklin Raines was celebrating 1 Trillion dollars in " affordable lending " purchases.

    In 2000, Andrew Cuomo, then head of HUD commited the GSEs to 2.4 Trillion dollars in Subprime purchases and by the time the GSEs were decalred insolvent in 2008, they held over 5 Trillion dollars in debt, and had distrubted Trillions of dollars in agency MBSs that were backed by subprime loans

    The GSE were exempt from not only paying local and state taxes, they were up to 2004 exempt from SEC oversight and reporting requirements. They also had a 4 Billion dollar line of credit straight from the US Treasury

    After being fined in 2004 for 400 million dollars for corrupt accounting techniques, the GSEs agreed to submit to the same SEC reporting requirements all publicly traded companies have to submit to.
    In 2011, the SEC published its findings on its investigation into Fannie and Freddie an found both agencies ommitted hundreds billions of dollars in Subprime debt EACH year from 2004-2008 from their SEC quartlery reports

    It was unprcedented securities fraud and a expose of just how mismanaged and corrupted the GSEs had become.

    There had been numerous warnings about the GSEs and their potential to cause a systemic financial crisis. Bush warned of that very thing back on 2001
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

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