Get Ready for another Housing crash thanks to Democrats

Matt Dillon said:
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.
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There is no blame to spin away.

Bush made all these choices and decisions on his own to inflate a housing bubble.

There was no housing bubble until 2004.
 
Matt Dillon said:
I'm all for telling it like it is.
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Then why don't you start? Why are you repeating lies?

What specific action or actions did Clinton take to "set it up" for Bush the Dumber to fail?

That's like blaming the manufacturer of the matches for the fire the dumb, paste-eating simpleton started.
 
LV426 said:
Then why don't you start? Why are you repeating lies?

What specific action or actions did Clinton take to "set it up" for Bush the Dumber to fail?

That's like blaming the manufacturer of the matches for the fire the dumb, paste-eating simpleton started.
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" The seeds of the mortgage meltdown were planted during Bill Clinton’s presidency.

Under Clinton’s Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in “credit-deprived” areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn’t comply with these rules, regulators reined in their ability to expand lending and deposits.

These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What’s more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase “subprime” became commonplace. What an understatement. "

https://www.cnbc.com/2016/05/28/are-the-clintons-the-real-housing-crash-villains.html

What say you now, dipshit?

That article is a decent read, btw.

I already knew all this, though, and that it wasn't Carter's fault. You're just a dumbass bile-filled shill. :)

However, you still have failed to prove that it wasn't Carter's fault. Would you like me to do that for you as well? :laugh:

Sorry, I'm not going to prove your claims for you. I don't like you. :tongout:
 
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Matt Dillon said:
Under Clinton’s Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in “credit-deprived” areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn’t comply with these rules, regulators reined in their ability to expand lending and deposits.
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OK, but none of those loans are the ones that went bad in 2006-7.

So...what does this prove? Nothing.
 
Matt Dillon said:
These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What’s more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase “subprime” became commonplace. What an understatement. "
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NONE OF THOSE LOANS are the ones that went bad during Bush the Dumber.

The crisis was rooted in the poor performance of subprime loans issued between 2004 and 2007.

Is time not linear?
 
Matt Dillon said:
What say you now, dipshit?
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The author of that op-Ed you linked to there said this in 2005:

The Housing Bears Are Wrong Again
Homebuilders led the stock parade this week with a fantastic 11 percent gain. This is a group that hedge funds and bubbleheads love to hate. All the bond bears have been dead wrong in predicting sky-high mortgage rates. So have all the bubbleheads who expect housing-price crashes in Las Vegas or Naples, Florida, to bring down the consumer, the rest of the economy, and the entire stock market.
https://www.nationalreview.com/2005/06/housing-bears-are-wrong-again-larry-kudlow/

Oof.

What say you now, dipshit?
 
Matt Dillon said:
These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What’s more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase “subprime” became commonplace. What an understatement.[/SIZE][/B] "
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Thing is, absolutely ZERO of those mortgages caused the collapse.

And Kudlow is lying, as he usually does, because Clinton imposed a HUD rule in 2000 that specifically PROHIBITED GSE's from purchasing risky loans.

Guess who reversed that rule? Go ahead, guess.
 
Matt Dillon said:
Sorry, I'm not going to prove your claims for you. I don't like you. :tongout:
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Stop stealing my lines.

Subprime_mortgage_originations%2C_1996-2008.GIF
 
LV426 said:
OK, but none of those loans are the ones that went bad in 2006-7.

So...what does this prove? Nothing.
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It proves that Clinton fucked it up, and Bush built on Clinton's fuckup and fucked it up worse.

I suppose you'll deny that.

Why? Because you're a partisan shill idiot.
 
LV426 said:
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.
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The funny thing is that this debate was settled more than 10 years ago. Did they bookmark the lies that were being touted then?
 
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