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Republican Position - Minorities Caused the Financial Crisis

SeanH said:
You don't have an argument, sonny. You have Google. You don't understand what you link and when you get called on it, you run away like the pathetic little cunt that you are.
You're nothing.
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Wah you called me a name!!!! waaah!!!!!
 
tmleadr03 said:
I would have to disagree with that.

There were quite a few things that affected this.

1971 Disconnecting the gold standard
1977 Community Reinvestment Act to put pressure on the banks to give out risky loans
1994 Clinton increased pressure on the banks to give out risky loans with tightening the standards of the CRA. Also changing some of the rules in Fanny and Freddy to increase their ability to give out risky loans compaired to the rest of the banks.


It really is the .gov fault that this happened to this measure. If the .gov had kept out of it it would have not affected all of us this much.
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So let me get this straight... Our current financial mess was caused by Carter and Clinton, with no responsibility to any republican president...

It would be utterly laughable if only less people like you didn't take it so seriously.


Again, do republican's EVER take responsibility for anything?
 
richard_daily said:
So let me get this straight... Our current financial mess was caused by Carter and Clinton, with no responsibility to any republican president...

It would be utterly laughable if only less people like you didn't take it so seriously.


Again, do republican's EVER take responsibility for anything?
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They were the people who were in charge at the time. They were the ones who pushed the bills through. But no, it wasnt just them, it would not have been possible with out Congress and the Senant, whom are composed of both Republicans and Democrats. Both should shoulder the responsibility but it does not change that it was the .gov involvement that got the ball rolling on this. I pointed out the Presidents in charge at the time but the main problem I have with it is that the government involved itself in something it did not need to and messed it up.

Never said I was a republican either.
 
tmleadr03 said:
They were the people who were in charge at the time. They were the ones who pushed the bills through. But no, it wasnt just them, it would not have been possible with out Congress and the Senant, whom are composed of both Republicans and Democrats. Both should shoulder the responsibility but it does not change that it was the .gov involvement that got the ball rolling on this. I pointed out the Presidents in charge at the time but the main problem I have with it is that the government involved itself in something it did not need to and messed it up.

Never said I was a republican either.
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You didn't say you were an uneducated moron either, but it kind of shines on through.
 
Fraud motivated by greed (ho-hum) caused the mortgage crisis.

Concern was given ostensibly only to loan origination and not really ANY consideration given to the capacity for repayment of the loan. This led to a host of sweet vehicles, including: no equity, interest-only, and the queen mother of irresponsible lending... negative equity loans.

Poor oversight and regulation led to "creative" financing where inaccurate data concerning income and existing debt load were used to qualify borrowers. This accounts for literally tens-of-thousands of loans originated for people who obviously would not be able pay them... especially as the economy stalls, as adjustable interest rates ratchet up....

It isn't like people didn't know this was happening. Actuarial models about who will and will not be able to repay their loans under a variety of conditions are very, very strong. These were ignored, however, as everyone in food chain was benefiting from these practices, from the bottom-level originators to the CDO bundlers at the top.

Fraud motivated by age-old greed.
 
tmleadr03 said:
They were the people who were in charge at the time. They were the ones who pushed the bills through. But no, it wasnt just them, it would not have been possible with out Congress and the Senant, whom are composed of both Republicans and Democrats. Both should shoulder the responsibility but it does not change that it was the .gov involvement that got the ball rolling on this. I pointed out the Presidents in charge at the time but the main problem I have with it is that the government involved itself in something it did not need to and messed it up.

Never said I was a republican either.
Click to expand...

And only presidents Carter and Clinton? Not either Bush, not Reagan? Come on...
 
kevintn said:
I refer you to post 15 of this thread. It includes a NY Times article from 1999.
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Oh the noes! Another link warrior! You didnt google that did you?


Nice article, I actually didnt click the first time I went by your post but read it now. Strange when I agree with an article from the NYTs.
 
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