Taxes were cut, where are the jobs?

j-mac said:
Originally Posted by Taichiliberal
All you've done is just present yet another suppostion and conjecture diatribe
This time from a favorite of the neocon-nazi/white supremacist ilk. Not surprising, since this asshole Rockwell just keeps trying to ignore the FACT that
The facts about the subprime mortgage market prove that claim false: Private firms dominated the subprime market boom of 2004-06, and were not even subject to the 1977 Community Reinvestment Act some Republicans vilify.
http://politicalcorrection.org/factc...10140001#facts

In other words, banks were for the longest time making sensible loans to white folk of low income, but "red-lining" minorities OF THE SAME FINANCIAL STANDING. NO law forced the bankers to make bad loans, then falsely bundle those with good loans and sell them on the financial market. If you or Rockwell can find the sentence in the CRA of 1977 that does what you assert, then please present it. If not, you can go blow your smoke up each others asses, STFU, or just keep regurgitating the SOS ad nauseum.
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You are as bad as the group of liberals on the oversight committee that were lambasting the regulators for even offering that a problem existed, and praised Franklin Raines....Your question is a non sequitur and pure nonsense. Does a specific sentence, or phrase exist stating your strawman? No. Does the legislation as a whole open the door to this type of malfeasance that enabled the collapse? Absolutely.

YOU'RE STILL BLOWING SMOKE, MAC! But no matter how much smoke you blow you cannot cover up or erase this fact: The facts about the subprime mortgage market prove that claim false: Private firms dominated the subprime market boom of 2004-06, and were not even subject to the 1977 Community Reinvestment Act some Republicans vilify.
http://politicalcorrection.org/factc...10140001#facts


All one has to do is educate themselves on Cloward/Piven to understand that. And further, that others of your mindset won't even watch their own representatives in their own words, lying, deceiving, and aiding the crash by attacking the very people sounding the alarm bells before the event happened is laughable...

You don't have to agree, but to place your fingers in your ears, and scream lalalalalala! is a fools errand....And me thinks you fit that bill.
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Once again for the cheap seats: In other words, banks were for the longest time making sensible loans to white folk of low income, but "red-lining" minorities OF THE SAME FINANCIAL STANDING. NO law forced the bankers to make bad loans, then falsely bundle those with good loans and sell them on the financial market. If you or Rockwell can find the sentence in the CRA of 1977 that does what you assert, then please present it. If not, you can go blow your smoke up each others asses, STFU, or just keep regurgitating the SOS ad nauseum.
 
FactsRStubborn said:
Originally Posted by Althea
You are always free to prove that the CRA affects private lenders.
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Already did. Not my fault you refuse to face the truth. Secondly and I will repeat for the last time. Nobody is saying that the CRA by itself caused the crash. I played a small but important part. There were many things that caused it. But somehow your peabrain is fixated on one thing. Good for you puddin
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No you didn't, you lying SOS. All you've done is put forth a bunch of supposition and conjecture in an attempt to bridge the CRA to the criminal acts of various bankers.

You failed. The CRA had NOTHING to do with the intentional criminal acts of various bankers. The facts about the subprime mortgage market prove that claim false: Private firms dominated the subprime market boom of 2004-06, and were not even subject to the 1977 Community Reinvestment Act some Republicans vilify.
http://politicalcorrection.org/factc...10140001#facts

In other words, banks were for the longest time making sensible loans to white folk of low income, but "red-lining" minorities OF THE SAME FINANCIAL STANDING. NO law forced the bankers to make bad loans, then falsely bundle those with good loans and sell them on the financial market. If you can find the sentence in the CRA of 1977 that does what you assert, then please present it. If not, you can go blow your smoke up each others asses, STFU, or just keep regurgitating the SOS ad nauseum.
 
Media matters is a hack, dishonest, and discredited site...NOTHING from it is to be believed beyond the comedy value it provides in its propaganda.
 
j-mac said:
Media matters is a hack, dishonest, and discredited site...NOTHING from it is to be believed beyond the comedy value it provides in its propaganda.
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Refute the content. Otherwise you're merely parroting what you've heard from from the righty talking-pointers.
 
Althea said:
Whereas you may not place all the blame on the CRA, you haven't provided any recognition of the fact that the CRA has no reign over private lenders. If you wanted to know the extent of CRA involvement, you'd study default rates of CRA paper.

Now, some of those defaults could have come from middle class homeowners simply losing their jobs. There were no $400,000.00 toxic notes written for CRA qualified buyers.

They have data on defaults, by zipcode. That gives a good indication of the neighborhoods where the defaults were most prominent. That might be the fastest method to employ if you were truly interested in this topic
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A "fact" that he will stubbornly ignore or spew forth a deluge of suppositon and conjecture to try and bridge such to deny a simple fact as you present.
 
evince said:
http://www.sec.gov/news/press/2007/2007-190.htm



SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.
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Since the crimes were committed when there was no law, that's the proof...but insipidly stubborn neocon/teabagger flunkies like FAS will just lie, deny, dodge before acknowledging these simple facts. Funny that the little stupe keeps trying to blame everyone except the very people he's carrying water for....where are the jobs?
 
j-mac said:
Media matters is a hack, dishonest, and discredited site...NOTHING from it is to be believed beyond the comedy value it provides in its propaganda.
Click to expand...

The facts about the subprime mortgage market prove that claim false: Private firms dominated the subprime market boom of 2004-06, and were not even subject to the 1977 Community Reinvestment Act some Republicans vilify.
http://politicalcorrection.org/factc...10140001#facts

In other words, banks were for the longest time making sensible loans to white folk of low income, but "red-lining" minorities OF THE SAME FINANCIAL STANDING. NO law forced the bankers to make bad loans, then falsely bundle those with good loans and sell them on the financial market. If you can find the sentence in the CRA of 1977 that does what you assert, then please present it. If not, you neocon/teabagger flunkies can go blow your smoke up each others asses, STFU, or just keep regurgitating the SOS ad nauseum.
 
Taichiliberal said:
A "fact" that he will stubbornly ignore or spew forth a deluge of suppositon and conjecture to try and bridge such to deny a simple fact as you present.
Click to expand...


The fact that you are disingenuously hanging your hat on a false premised question of the existence or lack thereof, of a line within the CRA, is not the entirety of the causes. But it is a piece of the puzzle that resulted in the meltdown...

http://www.thewisdomjournal.com/Blog/what-really-happened-in-the-mortgage-meltdown/

Banks, like Countrywide (a demo favorite) were complicit in using the horrible political correctness that the CRA institutionalized rather than sound banking practices meant to qualify people for the house they were buying.

Now I am sure you will dismiss any liberal thought involvement in the crash, in favor of really dumb arguments like the straw dog you threw out there from the likes of Media Matters, but the truth in the end is 'was it greed'? Hell yes, greed on the part of banks, greed on the part of community organizers that thuggishly pressured banks into making vig payments to them so they could further their criminal endeavors, greed on the part of people like Franklin Raines that mislead banks into the loans by making them seem to be government backed then jumping ship with a $90 Million dollar parachute, and greed by demo politicians that could use the lax standards to buy votes in their elections while destroying the communities that they represented.

So think what you want pal, I don't give a crap, common sense is on my side. All you have is propaganda.
 
j-mac said:
The fact that you are disingenuously hanging your hat on a false premised question of the existence or lack thereof, of a line within the CRA, is not the entirety of the causes. But it is a piece of the puzzle that resulted in the meltdown...

http://www.thewisdomjournal.com/Blog/what-really-happened-in-the-mortgage-meltdown/

Banks, like Countrywide (a demo favorite) were complicit in using the horrible political correctness that the CRA institutionalized rather than sound banking practices meant to qualify people for the house they were buying.

Now I am sure you will dismiss any liberal thought involvement in the crash, in favor of really dumb arguments like the straw dog you threw out there from the likes of Media Matters, but the truth in the end is 'was it greed'? Hell yes, greed on the part of banks, greed on the part of community organizers that thuggishly pressured banks into making vig payments to them so they could further their criminal endeavors, greed on the part of people like Franklin Raines that mislead banks into the loans by making them seem to be government backed then jumping ship with a $90 Million dollar parachute, and greed by demo politicians that could use the lax standards to buy votes in their elections while destroying the communities that they represented.

So think what you want pal, I don't give a crap, common sense is on my side. All you have is propaganda.
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Wow. Common sense, sez you. And 'Ron'. 'Ron' says so in the blog that you linked. Too bad there is nothing sourced in his blog to support 'Ron's [ahem] "wisdom". :D

About the Author:

Ron has written 1133 articles on The Wisdom Journal.

The founder and editor of The Wisdom Journal in 2007, Ron has worked in banking, distribution, retail and upper management for companies ranging in size from small start-ups to multi-billion dollar corporations. He graduated Suma Cum Laude from a top MBA program and is currently a partner in a national building materials company.
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Wow, 'Ron' is like, so accomplished and everything. He must be right. If only he would provide his last name so his credentials could be verified....oh, well.

:rofl2:
 
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