Does deregulation create jobs?

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Return of Dune said:
Sorry wrong terminology on my part, what I meant was it was a distraction created for the purpose I said.
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fair enough...but there were millions of "ordinary", eg, not uber wealthy, americans taking part in it and driving up the prices. it wasn't just the rich dune. i don't know why you look at the world through such a biased prism. it is like you believe all corps are bad and all rich are bad. without middle america engaging in heavy real estate speculation, the bubble would never have happened. not everything in life is some evil conspiracy by dr. evil.
 
Yurt said:
fair enough...but there were millions of "ordinary", eg, not uber wealthy, americans taking part in it and driving up the prices. it wasn't just the rich dune. i don't know why you look at the world through such a biased prism. it is like you believe all corps are bad and all rich are bad. without middle america engaging in heavy real estate speculation, the bubble would never have happened. not everything in life is some evil conspiracy by dr. evil.
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How much would middle America's impact have been had the lending rules not been loosened? Goldman Saks again. and again.
 
Return of Dune said:
How much would middle America's impact have been had the lending rules not been loosened? Goldman Saks again. and again.
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simple really....they would not have been able to buy houses in the quantity they did. take out that factor and you would never have seen a bubble. too many people were buying houses they could not afford. and because the dems and bush wanted everyone to buy a house, they loosened the rules. and there was rampant fraud.
 
Yurt said:
simple really....they would not have been able to buy houses in the quantity they did. take out that factor and you would never have seen a bubble. too many people were buying houses they could not afford. and because the dems and bush wanted everyone to buy a house, they loosened the rules. and there was rampant fraud.
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and the bankers compounded the problem many times, and knew the loans were bad, and got themselves bailed through their undue influence.
 
Yurt said:
simple really....they would not have been able to buy houses in the quantity they did. take out that factor and you would never have seen a bubble. too many people were buying houses they could not afford. and because the dems and bush wanted everyone to buy a house, they loosened the rules. and there was rampant fraud.
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The idea that banks made loans to people that couldn't repay them because the Dems and Bush wanted everyone to buy a house is the stupidest fucking thing I've read all day. Jesus Christ in a Kelly green cummerbund.

And what specific rules were loosened?
 
Dungheap said:
The idea that banks made loans to people that couldn't repay them because the Dems and Bush wanted everyone to buy a house is the stupidest fucking thing I've read all day. Jesus Christ in a Kelly green cummerbund.

And what specific rules were loosened?
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You obviously don't remember Democrats on the floor of the House calling those banks that refused to loosen their requirements on lending to some folks (especially blacks) and RACIST BANKS........how convenient for you....
Racist banks is a term you never heard before, huh ?........I guess ignorance truly is bliss....

And then later, when the loans went unpaid and the borrowers claimed bankruptcy, those same Democrats called those same banks, "predatory lenders".......

Funny how the left has their own version of history.......
 
bravo said:
You obviously don't remember Democrats on the floor of the House calling those banks that refused to loosen their requirements on lending to some folks (especially blacks) and RACIST BANKS........how convenient for you....
Racist banks is a term you never heard before, huh ?........I guess ignorance truly is bliss....

And then later, when the loans went unpaid and the borrowers claimed bankruptcy, those same Democrats called those same banks, "predatory lenders".......

Funny how the left has their own version of history.......
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It's amazing the shit that right-wingers believe to be true. Here's a brief snippet from the conclusions of the Financial Crisis Inquiry Commission:

Finally, as to the matter of whether government housing policies were a primary cause of the crisis: for decades, government policy has encouraged homeownership through a set of incentives, assistance programs, and mandates. These policies were put in place and promoted by several administrations and Congresses—indeed, both Presidents Bill Clinton and George W. Bush set aggressive goals to increase homeownership.

In conducting our inquiry, we took a careful look at HUD’s affordable housing goals, as noted above, and the Community Reinvestment Act (CRA). The CRA was
enacted in 1977 to combat “redlining” by banks—the practice of denying credit to individuals and businesses in certain neighborhoods without regard to their creditworthiness. The CRA requires banks and savings and loans to lend, invest, and provide services to the communities from which they take deposits, consistent with bank safety and soundness.

The Commission concludes the CRA was not a signiicant factor in subprime lending or the crisis. Many subprime lenders were not subject to the CRA. Research indicates only 6% of high-cost loans—a proxy for subprime loans—had any connection to the law. Loans made by CRA-regulated lenders in the neighborhoods in which they were required to lend were half as likely to default as similar loans made in the same neighborhoods by independent mortgage originators not subject to the law.

Nonetheless, we make the following observation about government housing policies—they failed in this respect: As a nation, we set aggressive homeownership goals with the desire to extend credit to families previously denied access to the financial markets. Yet the government failed to ensure that the philosophy of opportunity was being matched by the practical realities on the ground. Witness again the failure of the Federal Reserve and other regulators to rein in irresponsible lending. Homeownership peaked in the spring of 2004 and then began to decline. From that point on, the talk of opportunity was tragically at odds with the reality of a inancial disaster in the making.
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I recommend that you read the entirety of the report, including the section on the GSEs (also not a primary cause). The only person creating his own version of history is you.


http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_conclusions.pdf
 
Dungheap said:
The idea that banks made loans to people that couldn't repay them because the Dems and Bush wanted everyone to buy a house is the stupidest fucking thing I've read all day. Jesus Christ in a Kelly green cummerbund.

And what specific rules were loosened?
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from your own link

Finally, as to the matter of whether government housing policies were a primary cause of the crisis: for decades, government policy has encouraged homeownership through a set of incentives, assistance programs, and mandates. These policies were put in place and promoted by several administrations and Congresses—indeed, both Presidents Bill Clinton and George W. Bush set aggressive goals to increase homeownership.
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and you call me stupid....:palm:
 
Yurt said:
from your own link



and you call me stupid....:palm:
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I didn't call you stupid. I said that you wrote the stupidest thing I read today. And it still is. Nothing in what I posted supports the dumbassery that you posted. Pretend otherwise if you like.
 
Dungheap said:
I didn't call you stupid. I said that you wrote the stupidest thing I read today. And it still is. Nothing in what I posted supports the dumbassery that you posted. Pretend otherwise if you like.
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for decades, government policy has encouraged homeownership through a set of incentives, assistance programs, and mandates.

not pretending, simply stating facts. and from your own link. ignore reality if you want, doesn't make it go away.
 
Yurt said:
for decades, government policy has encouraged homeownership through a set of incentives, assistance programs, and mandates.

not pretending, simply stating facts. and from your own link. ignore reality if you want, doesn't make it go away.
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Right after the part where the commission states that federal government policies "were not a significant factor in subprime lending or the crisis." Like I said, you can pretend otherwise if you like. I'm OK with you writing and saying stupid things.
 
Dungheap said:
Right after the part where the commission states that federal government policies "were not a significant factor in subprime lending or the crisis." Like I said, you can pretend otherwise if you like. I'm OK with you writing and saying stupid things.
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did i say it was a significant factor? do pay attention...and i'm certainly comfortable with you writing stupid things, in fact, i'm quite used it by now.
 
Yurt said:
did i say it was a significant factor? do pay attention...and i'm certainly comfortable with you writing stupid things, in fact, i'm quite used it by now.
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So you brought it up because it was an insignificant factor? That makes a lot of sense, Yurt. Really.
 
Dungheap said:
It's amazing the shit that right-wingers believe to be true. Here's a brief snippet from the conclusions of the Financial Crisis Inquiry Commission:




I recommend that you read the entirety of the report, including the section on the GSEs (also not a primary cause). The only person creating his own version of history is you.


http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_conclusions.pdf
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Did you really expect the government to take full responsibility for their screw up and mistakes.....admit their policys were the cause of this economic collapse....

Are you really that naive......Just a few months ago you all had no problem putting the entire blame on G. Bush, personally......but when it comes to examining the liberal policys of the GSE and CRA you're quick to say, "Hell no, it wasn't the fault of those policys".......

You're a partisan hack, still packin' in the koolade.....

Like I pointed out....
You obviously don't remember Democrats on the floor of the House calling those banks RACIST BANKS........how convenient for you....
Racist banks is a term you never heard before, huh ?.......
And then later, when the loans went unpaid and the borrowers claimed bankruptcy, those same Democrats called those same banks, "predatory lenders".......

Those are the facts, I remember these events personally, I watched them on TV.....I wasn't dreaming.......I was a witness .....

From racist banks to predatory lenders in the blink of an eye for doing what they were gloated into doing with threats if they didn't lend to the meatheads that could never qualify under normal circumstances.....while taxpayers took the gamble and Barney said, "What ? me worry ?".

No commission is gonna convince me I didn't see what I know I saw......
 
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