Get Ready for another Housing crash thanks to Democrats

Matt Dillon said:
Carter was not president in 1995, dumbass. Bill Clinton was.
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The CRA wasn't responsible for the subprime mortgage collapse because the CRA wouldn't permit lenders to make risky loans like those.

The CRA had nothing to do with you and Bush the Dumber dramatically weakening underwriting standards for subprime loans to try and inflate a housing bubble so that the shitty tax cuts didn't look as bad as they truly were.

That's why Bush tied his tax cuts to the housing market when he 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
 
Matt Dillon said:
I agree with that last part.
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It makes sense because literally nobody could find who owned half of the mortgages that were being foreclosed on. They were traded so many times, it actually gave some homeowners a legal avenue to avoid foreclosure.
 
Matt Dillon said:
That link proves nothing as Carter's presidency ran from 1976 to 1980.
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1977-1981, but who cares about accuracy, right?

Yes, Carter was President from 1977-1981, but the subprime mortgage crisis was from 2004-2007.

So...is time not linear now? I know everyone is all about time travel and the multiverse because of Marvel, but none of that is real. It's all make-believe.
 
LV426 said:
The CRA wasn't responsible for the subprime mortgage collapse because the CRA wouldn't permit lenders to make risky loans like those.

The CRA had nothing to do with you and Bush the Dumber dramatically weakening underwriting standards for subprime loans to try and inflate a housing bubble so that the shitty tax cuts didn't look as bad as they truly were.

That's why Bush tied his tax cuts to the housing market when he 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
Click to expand...

Oh! Faux Snooz! Fake Nooz! LMAO! j/k

Hey dumbass.

He claimed it started with Carter and what you did was post a bunch of stuff from 1995-onward in your futile effort to refute his claim.

Carter was president from 1976 until 1980.

Anything outside of that timeframe will not disprove his claim. Yoar Welcome. :)
 
Matt Dillon said:
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. :)
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Please stop.

Or at the very least, Google the Community Reinvestment Act.

When you rely on Right wing talking points, it's never a good look
 
Matt Dillon said:
He claimed it started with Carter and what you did was post a bunch of stuff from 1995-onward in your futile effort to refute his claim.
Click to expand...

Subprime mortgages didn't even exist when Carter was President.

They didn't start until the 90's.

We didn't have credit ratings until 1989.

Carter isn't to blame for the 2008 collapse, you and Bush the Dumber are because you were desperate to make your tax cuts look good.
 
LV426 said:
The CRA wasn't responsible for the subprime mortgage collapse because the CRA wouldn't permit lenders to make risky loans like those.

The CRA had nothing to do with you and Bush the Dumber dramatically weakening underwriting standards for subprime loans to try and inflate a housing bubble so that the shitty tax cuts didn't look as bad as they truly were.

That's why Bush tied his tax cuts to the housing market when he 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
Click to expand...
Again..as has been mentioned already...private lenders are NOT subject to Carter's CRA. That's all that anyone who wishes to (errantly) blame Clinton for the crash has to know.

They should also Google Gramm/Leach/Bliley if they want to know why they're blaming Clinton.

But that would take 5 minutes.
 
Althea said:
Again..as has been mentioned already...private lenders are NOT subject to Carter's CRA. That's all that anyone who wishes to (errantly) blame Clinton for the crash has to know.

They should also Google Gramm/Leach/Bliley if they want to know why they're blaming Clinton.

But that would take 5 minutes.
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And it would also completely ruin their arguments, so they're never going to do that because the sting of losing an argument on an anonymous forum is debilitating for them.
 
LV426 said:
Subprime mortgages didn't even exist when Carter was President.

They didn't start until the 90's.

We didn't have credit ratings until 1989.

Carter isn't to blame for the 2008 collapse, you and Bush the Dumber are because you were desperate to make your tax cuts look good.
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This is running out of control.

It's fine to teach them about the fallacy of blaming the CRA, even if it falls on deaf ears.

While doing so, it's important to teach them when the CRA was first passed.

And that was by Carter.
 
Althea said:
Please stop.

Or at the very least, Google the Community Reinvestment Act.

When you rely on Right wing talking points, it's never a good look
Click to expand...

I don't "Google" anything. And what I'm talking about is absolutely correct.

I don't get "talking points" in my inbox, unlike some other people around here.

See if you can follow this logic here. (I'm playing Devil's Advocate)

Poster A claims Carter started bla bla bla

Poster B then pipes up and says "No he did not!" and then goes on to support his claim by posting something that involves dates from 1995-onward only.

Can you see where the problem is here? Or no?

:rolleyes:
 
LV426 said:
Subprime mortgages didn't even exist when Carter was President.

They didn't start until the 90's.

We didn't have credit ratings until 1989.

Carter isn't to blame for the 2008 collapse, you and Bush the Dumber are because you were desperate to make your tax cuts look good.
Click to expand...


That's right, and the bolded was due to Bill Clinton.

I never said Carter was to blame, but then you go and try to disprove that with a link that's not during Carter's presidency.

That's called "Fail" bruh. Me? Prove I was involved with any of that. Try. I know damn well I wasn't.
 
The Community Reinvestment Act is all well and good, but Clinton allowing Glass-Steagall to go may have been the death knell to the American economy.
Nothing positive has been done about it yet.
 
Matt Dillon said:
That's right, and the bolded was due to Bill Clinton.
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The first subprime loan was in 1991.

Who was President in 1991?

And the share of subprimes of all mortgages during the 90's remained constant...it never eclipsed 10% of all mortgages until 2004. By 2006, 40% of all mortgages were subprime.

That's not Carter or Clinton...it's all Bush the Dumber and Conservatism.

Clinton actually put a HUD rule in place to PREVENT GSE's from buying risky subprime loans.

Bush reversed that rule, of course.
 
Matt Dillon said:
That's called "Fail" bruh. Me? Prove I was involved with any of that. Try. I know damn well I wasn't.
Click to expand...

You're here arguing it, so you're going to have to answer for it.

If you're trying to blame Clinton and Carter for Bush's mortgage meltdown, then it's obvious you're a partisan hack who is trying to make his governing ideology look better.

Bush created a subprime mortgage bubble out of thin air, and then proceeded to tie that bubble to his tax cut policies.

So that's why I say the Bush Tax Cuts are responsible for the Subprime Mortgage collapse because Bush the Dumber tied them together.
 
NiftyNiblick said:
The Community Reinvestment Act is all well and good, but Clinton allowing Glass-Steagall to go may have been the death knell to the American economy.
Nothing positive has been done about it yet.
Click to expand...

Ho-Lee-Fook! You actually posted something worthwhile for once! :eek:
 
LV426 said:
You're here arguing it, so you're going to have to answer for it.

If you're trying to blame Clinton and Carter for Bush's mortgage meltdown, then it's obvious you're a partisan hack who is trying to make his governing ideology look better.

Bush created a subprime mortgage bubble out of thin air, and then proceeded to tie that bubble to his tax cut policies.

So that's why I say the Bush Tax Cuts are responsible for the Subprime Mortgage collapse because Bush the Dumber tied them together.
Click to expand...

Clinton set that shit up, dumbass. No I am NOT blaming Clinton and Carter you partisan dumbass fuckwad!

I AM Blaming Clinton AND Bush!

You know why? Because that's where the blame lies, you myopic mental midget!

Look motherfucker, just because you're all about spinning blame away from Democrats does not mean I'm all about spinning blame away from anywhere the fucking blame lies, bitch.

I'm all for telling it like it is. I'm for what's best for the American people. What are you for? Slime?
 
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