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Thread: FY2019 Budget Infographics.

  1. #91
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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by 99percenter View Post
    Poor people could not get loans pre bush. Bush thought it was a travesty and changed that.
    Dude, you're naked here.

    Buy a fact. Try it once, if only for the novelty.

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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by Jay59 View Post
    Dude, you're naked here.

    Buy a fact. Try it once, if only for the novelty.
    I already stated them. you can counter if you want but since you can't you are stuck posting nonsensical crap.
    Last edited by 99percenter; 06-29-20 at 12:37 AM.
    bears, bulls, white sox fan 4 life!!!

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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by Jay59 View Post
    You didn't do jack.
    LOL, I directly refuted your claim with the official congressional voting record from 2001-2007.


    I comprehend you have not even made an argument, much less a convincing one. State the facts, connect them to the event, show sufficiency, show lack of other significant factors, etc. All I want is the the basics, but you have not even finished step one.

    What you have is nothing more than second rate talking points.
    I've already done so. You keep mistaking your inability to comprehend what is given to you, with not being given to you.

  4. #94
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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by 99percenter View Post
    The housing crash happened because bush came up with the retarded idea of giving poor people loans they couldn't afford.
    Quote Originally Posted by Jay59 View Post
    You already bowed out. Bring some facts and you can get back in.

    BTW It was Jimmy Carter. Changes made during the 1990s accelerated the process.
    Quote Originally Posted by rahl View Post
    Iím sorry you feel that reality is a giant conspiracy against you. But facts donít go away because you donít like them.

    https://financialservices.house.gov/...regulation.pdf
    You guys are in luck, here's a thread to learn literally everything there is to know about the Bush Mortgage Bubble. Its pretty simple. Bush preempted all national banks and their subsidiaries (even ones with state charters) from state regulation. His regulators not only did nothing when "no doc" loans shot up from 4.3% of loans in 2004 to around 50% in 2006 they protected them from any state regulators who tried to do their jobs. he also lowered the net capital requirements of the investment banks. More money + no regulation = Bush Mortgage Bubble.

    The timeline is good but Freddie and Fannie didnt cause it. The timeline is good for conservatives who want to blame the GSEs. If its the GSE's fault then its still Bush's fault.

    Quote Originally Posted by Vern View Post
    I still see alot of misconceptions about the Bush Mortgage Bubble and the Bush policies that encouraged, funde and protected it so I thought I would start an FAQ section. Since the resulting destruction of the housing and financial sector are still a drag on the economy today, it seems relevent


    Q When did the Bush Mortgage Bubble start?

    A The general timeframe is it started late 2004.

    From Bushís Presidentís Working Group on Financial Markets October 2008

    ďThe Presidents Working Groupís March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.Ē

    http://www.treasury.gov/resource-cen...s%20update.pdf
    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

  5. #95
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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by Bullseye View Post
    You just continue to bleacher on and on, Vern. The fact is NBER - considered the official arbiter of economic expansions and contractions - says the recession ended in June of 2009, which on my calendar is within weeks of when Obama took office. The rest of your blather isn't worth commenting on.
    Hey BE, where'd you go. If you were going to cut and run from your own thread, you should have done so after the first post. anyhoo, I see you're having a hard time accepting facts. Lets start over and go real slow. Can you at least acknowledge that Kush posted actual data in post 16 when he posted the chart of employment levels?
    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

  6. #96
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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by Vern View Post
    Hey BE, where'd you go. If you were going to cut and run from your own thread, you should have done so after the first post. anyhoo, I see you're having a hard time accepting facts. Lets start over and go real slow. Can you at least acknowledge that Kush posted actual data in post 16 when he posted the chart of employment levels?
    "Cut and run"? Hardly. Just ignoring vapid, self-impressed windbags.
    Those who are willing to surrender their freedom for security have always demanded
    Öit should also be taken from those not prepared to do so.- F.A. Hayek

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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by rahl View Post
    LOL, I directly refuted your claim with the official congressional voting record from 2001-2007.
    You did not. Indeed, you presented no evidence of any kind.

    I've already done so. You keep mistaking your inability to comprehend what is given to you, with not being given to you.
    There is incomprehension only on your part. You seem to think that stating something firmly constituted proof.

    Hint: It doesn't.

    Quote Originally Posted by Vern View Post
    You guys are in luck, here's a thread to learn literally everything there is to know about the Bush Mortgage Bubble. Its pretty simple. Bush preempted all national banks and their subsidiaries (even ones with state charters) from state regulation. His regulators not only did nothing when "no doc" loans shot up from 4.3% of loans in 2004 to around 50% in 2006 they protected them from any state regulators who tried to do their jobs. he also lowered the net capital requirements of the investment banks. More money + no regulation = Bush Mortgage Bubble.

    The timeline is good but Freddie and Fannie didnt cause it. The timeline is good for conservatives who want to blame the GSEs. If its the GSE's fault then its still Bush's fault.
    This is what I requested. You are still overstating things, but you are a lot closer to a coherent point than 99 and rahl.

    It's simple only in the sense that the process became over leveraged. For example, don't forget FHA. HUD was in as deep as F&F and it's not a GSE. Independent mortgage brokers have not even been mentioned. Why the degree of leverage was tolerated and what could have prevent it, is full semester course. Like most bubbles, it looked good until just before it ruptured.

  8. #98
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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by Jay59 View Post
    This is what I requested. You are still overstating things, but you are a lot closer to a coherent point than 99 and rahl.

    It's simple only in the sense that the process became over leveraged. For example, don't forget FHA. HUD was in as deep as F&F and it's not a GSE. Independent mortgage brokers have not even been mentioned. Why the degree of leverage was tolerated and what could have prevent it, is full semester course. Like most bubbles, it looked good until just before it ruptured.
    I agree, bubbles look good on the way up. thats why Bush encouraged, funded and protected his bubble. FHA, HUD and the GSEs did not cause the Bush Mortgage Bubble. And neither did the CRA. Bush's preemption of all state laws against predatory lending and his regulation is the main cause. While there is no specific definition of predatory lending, the thing in every definition is "loaning money without regard of the borrower's ability to pay it back". That was literally the only thing the OCC defined as predatory. And you can only loan money to someone without regard to their ability to pay it back with a "no doc" loan. "no docs" went from 4.3% of loans in 2004 to about 50% in 2006. And thats the exact timeframe of the Bush Mortgage Bubble from Bush's Working Group and the Fed.

    this quote really drives home the out of control lending that Bush encouraged and protected. Ownit was one the first lenders to go bankrupt and the CEO says he got paid more to not check income.

    Ownit made second lien mortgages, issued 45-year ARMs and originated no-income-verification loans. In the words of William D. Dallas its founder and CEO: “The market is paying me to do a no-income-verification loan more than it is paying me to do the full documentation loans.”

    Subprime Mortgages: The Predators' Fall
    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

  9. #99
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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by Bullseye View Post
    "Cut and run"? Hardly. Just ignoring vapid, self-impressed windbags.
    you know BE, not responding to my post and simply posting insults is actually a form of cutting and running. See if you can find the inner strength to admit that Kush posted actual data in post 16 when he posted the chart of employment levels. I'll go as slow as you need me to but you have to put some effort into it.
    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

  10. #100
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    Re: FY2019 Budget Infographics.

    Quote Originally Posted by Jay59 View Post
    You did not. Indeed, you presented no evidence of any kind.
    now you are just fibbing.


    There is incomprehension only on your part. You seem to think that stating something firmly constituted proof.
    no, I provided the proof. you don't like it or don't understand it. That does not make the facts go away.

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