Get Ready for another Housing crash thanks to Democrats

Into the Night said:
Carter is a Democrat. Clinton is a Democrat. Bush is a RINO.
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Underwriting standards for subprime loans weren't dramatically weakened until 2004, when your guy Bush the Dumber was trying to inflate a housing bubble to make it look like his tax cuts actually worked.
 
Into the Night said:
It was exactly the issue that set up 2008.

The result of exactly the policies that Biden is suggesting.

The result of exactly the policies that Biden is suggesting.

Biden is considering AGAIN on forcing the easing of standards.

Bullshit. The FHA was as guilty as anyone else.

Fascist and communist policies in the housing market ALWAYS results in a crash.
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Denial of facts.
argumentum ad ignorantiam
 
Into the Night said:
Lie. Conservatives were.
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WRONG WRONG WRONG.

Testimony from W’s Treasury Secretary John Snow to the REPUBLICAN CONGRESS concerning the 'regulation’ of the GSE’s in 2003:

Mr. Frank: Are we in a crisis now with these entities?

Secretary Snow: No, that is a fair characterization, Congressman Frank, of our position. We are not putting this proposal before you because of some concern over some imminent danger to the financial system for housing; far from it.
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So Barney Frank was a Conservative?
 
Into the Night said:
They were already weakened.
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When were they weakened prior to 2003? Cite the actual law that weakened them, and show your work.

None of this ambiguous allusions to things you didn't bother to research.

But I'm going to save you some time because I've already done this research, and no such law exists or was passed.
 
Into the Night said:
That started in 1980, pal...under Carter. It was added to by Clinton and again by Bush.

Carter is a Democrat. Clinton is a Democrat. Bush is a RINO.

Lie. Conservatives were.

They were already weakened.

Pivot fallacy. Trolling.
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Fallacy fallacy. The fallacy fallacy occurs when the poster simply claims the other person is committing a fallacy in order to avoid addressing the argument and without explaining how the supposed fallacy they are claiming occurred.
 
LV426 said:
WRONG.

"Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "
https://www.federalreserve.gov/images/20081203_analysis.pdf
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Carter was not president in 1995, dumbass. Bill Clinton was.

That link proves nothing as Carter's presidency ran from 1976 to 1980.

Entirely irrelevant link. Try again, cupcake. :)
 
Into the Night said:
Living on welfare is your problem. Get a life. Whining about your pathetic ability to earn money is not helping you, pal.
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Fuck off idiot!

Living off of welfare is your problem- not mine!

I have been retired for over 3 years now and I draw the maximum Social Security because I paid in the bucks for it and I worked until I got the highest amount possible!

SO GO AND TROLL SOMEONE ELSE ASSHOLE!
 
Into the Night said:
Pivot fallacy. Trolling.
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Not a pivot because it provides the justification for why you and Bush the Dumber weakened all housing regulation; you wanted a housing bubble in time for the 2004 election that you could credit to the failed tax cuts.

And that's precisely what y'all did when you campaigned in 2004:

Bush Ties Policy to Record Home Ownership
Touting his tax cuts as the economy's savior — and pointing to the strong housing market as proof — Bush said "more people own their own home now than ever." More than 50 percent of minorities owned their own homes in the last three months of 2003 for the first time ever, the president said.
https://www.foxnews.com/story/bush-ties-policy-to-record-home-ownership

So right there, you got Bush the Dumber saying that his tax cuts are responsible for the housing bubble that would pop just 3 years later.
 
Matt Dillon said:
All the people involved in the mortgages. The everyday citizens lost. Why would you ask a question like that?
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You mean people who borrowed money for a house that they cannot afford? You mean people who borrowed against equity and bought a boat? You mean people who were tricked into ARMs with no money for a balloon payment?

No. I don't feel sorry for them. I do feel sorry for everyone who had homes with sensible mortgages, but lost employment due to the crash. The Feds aren't set up to loan to individuals, but the money that went to the banks should have gone to homeowners to apply to their mortgages.
 
Althea said:
You mean people who borrowed money for a house that they cannot afford? You mean people who borrowed against equity and bought a boat? You mean people who were tricked into ARMs with no money for a balloon payment?

No. I don't feel sorry for them. I do feel sorry for everyone who had homes with sensible mortgages, but lost employment due to the crash. The Feds aren't set up to loan to individuals, but the money that went to the banks should have gone to homeowners to apply to their mortgages.
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I agree with that last part.
 
Into the Night said:
Special pleading fallacies. Trolling.
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LMAO! What you're describing is your inability to debate this.

I've actually debated before, and none of the things you call fallacies actually are.

You're just saying they are so you don't have to deal with them because you're lazy, stupid, or both.
 
Nordberg said:
Selling the certs immediately left banks with no liability. The banks did not care about how likely a mortgage was to be paid back. https://www.investopedia.com/ask/an...ons-cdo-responsible-2008-financial-crisis.asp the cause was unmitigated banker greed and ignorance of politicians who believed them.
Banks actually instructed the mortgage companies to downgrade requirements over and over. They also bribed the rating agencies to label the CDOs as AAA, when they were not.
The bankers covered all the bases.
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All true, and all caused by Wall St's insatiable appetite for MBDs.

With no market for garbage, none of this would have happened.
 
Althea said:
You mean people who borrowed money for a house that they cannot afford? You mean people who borrowed against equity and bought a boat? You mean people who were tricked into ARMs with no money for a balloon payment?

No. I don't feel sorry for them. I do feel sorry for everyone who had homes with sensible mortgages, but lost employment due to the crash. The Feds aren't set up to loan to individuals, but the money that went to the banks should have gone to homeowners to apply to their mortgages.
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Predatory lending is not cool!
 
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