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Thread: W:1083,1531:2983:3137]******Bush Mortgage Bubble FAQs

  1. #3131
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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Quote Originally Posted by Vern View Post
    OC, I've answered your silly question "what does it mean?" question a dozen times. It means CRA compliance is not a requirement. Now that you think I should answer all your questions about your imaginary narratives, shouldn't you answer my questions about your imaginary narratives? My questions are directly related to what you posted. Here's the perfect example of you asking questions based on your delusions



    did you ever acknowledge that republicans controlled congresss 2005-2007? (OC, see how that question is directly related to the falsehood you posted and obediently believed).
    Banks that were denied found it to be a requirement didn't they? How do we know? Because they were denied on that basis.

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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Quote Originally Posted by OpportunityCost View Post
    Banks that were denied found it to be a requirement didn't they? How do we know? Because they were denied on that basis.
    poor OC, I cant help you. I asked eohrn to help you but I knew it was a longshot because it would have required him to show some integrity. Hey, I know, why dont you ask eohrn what he thinks. You like asking questions so ask eorhn>
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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.
    Quote Originally Posted by Conservative View Post
    You claim the economy was destroyed when Bush left office

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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Quote Originally Posted by OpportunityCost View Post
    You still can't answer direct questions. Oh well, its tough for the truth challenged.
    Quote Originally Posted by OpportunityCost View Post
    Banks that were denied found it to be a requirement didn't they? How do we know? Because they were denied on that basis.
    Vern gets cornered and he diverts, trolling others.

    OC, I do believe he's beyond salvage, hence my refusal to respond to him.

    A troll cut off from responses soon tires and gets bored, hopefully to simply leave.
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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Quote Originally Posted by eohrnberger View Post
    Vern gets cornered and he diverts, trolling others.

    OC, I do believe he's beyond salvage, hence my refusal to respond to him.

    A troll cut off from responses soon tires and gets bored, hopefully to simply leave.
    Oh eorhn, I see you're still upset that I haven't let you forget you hilariously thought Bush was president in 2000 and "didn't fire Cuomo soon enough". Eohrn, as a conservative you will never understand this but I don't let my personal feelings affect my integrity. Its just what you do when you're not a snowflake. anyhoo, Polgara helped you to stop making a fool of yourself but you cant do the same for OC.

    Quote Originally Posted by eohrnberger View Post
    Ahem, the date on the letter is May 5, 2000.
    Letter from John D. Hawke, Jr., Comptroller of the Currency - May 5, 2000

    Last I recall, Bush was in office as of Jan 2000.
    In office January 20, 2001 – January 20, 2009 George W. Bush - Wikipedia, the free encyclopedia

    Bzzzz. Try again..
    seriously eohrn, look how you cant even read the link you posted. Why do you let OC continue to do that? Anyhoo, if you feel up to it, how am I cornered? I've not only proven that "CRA compliance" is not required but I've proven its a non-factor.
    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

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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Quote Originally Posted by Vern View Post
    poor OC, I cant help you. I asked eohrn to help you but I knew it was a longshot because it would have required him to show some integrity. Hey, I know, why dont you ask eohrn what he thinks. You like asking questions so ask eorhn>
    Of course you cant help me, you never answer direct questions with anything but partisan ranting. So why were the banks refused?

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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Moderator's Warning:
    W:1083,1531:2983:3137]******Bush Mortgage Bubble FAQsThis thread is closed to gather participants' attention.

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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Moderator's Warning:
    W:1083,1531:2983:3137]******Bush Mortgage Bubble FAQsOk. The thread will be reopened. Any poster who values their participation in the thread, should heed the Zero Tolerance Warning:

    Moderator's Warning:
    W:1083,1531:2983:3137]******Bush Mortgage Bubble FAQsThis thread is closed to gather participants' attention.

    Three in-thread warnings have been placed to curb bad behavior, but have largely been ignored. As the thread remains active long since it was started, we don't want to just close it, but if you folks wish to continue debating in it, you'll have stop:

    1. Snarking.
    2. Personal comments.
    3. Baiting.
    4. Any other practice which is anathema to civil discussion.

    This is a zero tolerance warning. Be productive and address the content of the post, not the poster. The smallest violation will get violators punted from the thread forever. Points are more possible too.

    In a couple hours, we'll reopen the thread.
    Sharice Davids (D-Kan.) and Deb Haaland (D-N.M.) each held up a right hand and vowed to uphold their oath of office, becoming the first Native American women in the U.S. Congress.

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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Eohrn remember when you tried to equate enforcing discrimination laws to forcing banks to loan to unqualified buyers?
    Quote Originally Posted by eohrnberger View Post
    So let's understand this. DOJ under Clinton sued a bank because they didn't lend enough times and enough money to minorities. CRA pressure, and Reno was Clinton's AG, if I'm not mistaken. So, OK Vern. Wave your hand and call this inconsequential. Call this as an example of CRA and the administration didn't force banks into lending to unqualified borrowers.
    I didn’t wave my hand. I simply pointed out that the bank wouldn’t lend to qualified minorities because of their location. Classic redlining. Not one to let a narrative go, you modified your message to “qualified or unqualified, loans to minorities lead to toxic mortgages.”
    Yep, you said it: “qualified or unqualified, loans to minorities lead to toxic mortgages”. You never explained the connection to enforcing discrimination laws (and such blatant examples of discrimination) to dramatically lower lending standards in late 2004. I was just supposed to accept it as fact. Well, you’ll be interested to know that jack posted a study that disproves your narrative.

    Quote Originally Posted by Jack Hays View Post
    First, mortgage lending wasn't aimed mainly at the poor. Earlier research studied lending by ZIP codes and found sharp growth in poorer neighborhoods. Borrowers were assumed to reflect the average characteristics of residents in these neighborhoods. But the new study examined the actual borrowers and found this wasn't true. They were much richer than average residents. In 2002, homebuyers in these poor neighborhoods had average incomes of $63,000, double the neighborhoods' average of $31,000.

    Second, borrowers were not saddled with progressively larger mortgage debt burdens. One way of measuring this is the debt-to-income ratio: Someone with a $100,000 mortgage and $50,000 of income has a debt-to-income ratio of 2. In 2002, the mortgage-debt-to income ratio of the poorest borrowers was 2; in 2006, it was still 2. Ratios for wealthier borrowers also remained stable during the housing boom. The essence of the boom was not that typical debt burdens shot through the roof; it was that more and more people were borrowing.

    Third, the bulk of mortgage lending and losses -- measured by dollar volume -- occurred among middle-class and high-income borrowers. In 2006, the wealthiest 40 percent of borrowers represented 55 percent of new loans and nearly 60 percent of delinquencies (defined as payments at least 90 days overdue) in the next three years.
    If these findings hold up to scrutiny by other scholars, they alter our picture of the housing bubble. Specifically, they question the notion that the main engine of the bubble was the abusive peddling of mortgages to the uninformed poor. In 2006, the poorest 30 percent of borrowers accounted for only 17 percent of new mortgage debt. This seems too small to explain the financial crisis that actually happened. . . . "

    Loan Originations and Defaults in the Mortgage Crisis: The Role of the ...

    [FONT=Roboto]www.nber.org/papers/w20848
    Here's the key takeaway

    "Delinquency patterns also shed doubt on the interpretation that credit to low-income borrowers caused the crisis"
    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. #3139
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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Quote Originally Posted by Vern View Post
    Eohrn remember when you tried to equate enforcing discrimination laws to forcing banks to loan to unqualified buyers?

    I didn’t wave my hand. I simply pointed out that the bank wouldn’t lend to qualified minorities because of their location. Classic redlining. Not one to let a narrative go, you modified your message to “qualified or unqualified, loans to minorities lead to toxic mortgages.”
    Yep, you said it: “qualified or unqualified, loans to minorities lead to toxic mortgages”. You never explained the connection to enforcing discrimination laws (and such blatant examples of discrimination) to dramatically lower lending standards in late 2004. I was just supposed to accept it as fact. Well, you’ll be interested to know that jack posted a study that disproves your narrative.



    Here's the key takeaway

    "Delinquency patterns also shed doubt on the interpretation that credit to low-income borrowers caused the crisis"
    Thank you for making my point.
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  10. #3140
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    Re: Bush Mortgage Bubble FAQs[W:1083,1531:2983]]

    Quote Originally Posted by Jack Hays View Post
    Thank you for making my point.
    Oh jack, your "point" required one of those special definitions that cons rely on. Your special definition of "predatory" was basically "only loans to poor people can be predatory". I showed you the OCC's definition clearly defining the Bush Loans as predatory. Income is simply not a factor in determining "predatory".
    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

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