As America Changes, Some Anxious Whites Feel Left Behind

[Truth Detector]

Yes they did, you illiterate:

"Strong opposition by the Bush administration forced a top Republican congressman to delay a vote on a bill that would create a new regulator for mortgage giants Fannie Mae and Freddie Mac."

What does that sentence say? Is English your first language? When you read that sentence, what do the words mean to you?


Despite what appeared to be a broad consensus on GSE regulatory reform, efforts quickly stalled. A legislative markup scheduled for October 8, 2003, in the House of Representatives was halted because the Bush administration withdrew its support for the bill,

So what do those words above mean?

No they did not you incoherent dullard.

Conclusion

If the affordable housing goals don’t account for the GSEs’ purchases of high risk subprime mortgages and their subsequent financial collapse, what does? The best explanation is the simplest. The GSEs badly misjudged the risk of subprime and Alt-A mortgages. They thought there were large profits to be made in the growing subprime market, and they sought to maintain and expand their share of the home mortgage market. They were not alone in misjudging the risks of subprime mortgages; so did other lenders. Indeed, the GSEs were by no means the first lenders to run into problems with their non-prime portfolios; HSBC and New Century were frontpage news in February 2007. But the GSEs, because they were bigger and were required to hold less capital took the biggest risks and had the most spectacular problems.

The GSEs have made other misjudgments than threatened their solvency. Economists have often analyzed risk for financial institutions along three dimensions:
interest rate risk, credit risk, operations risk. The GSEs have experienced all three.

 

[Truth Detector]

I'm not about allowing fascists a participation trophy in elections.

Wrong; you're not about dealing in reality, facts or the truth which is why you are brain dead lying twit who supports a one party Fascistic system. How is that working for the Democratic Party of the Jackass dumbfuck?

 

[Truth Detector]

The Democratic Party, and its reliance on corporate donations, is not a party of Socialists or Communists.

The Democratic Party of the Jackass most certainly represents a Fascistic, socialist, Marxist ideology that believes in Government enterprises, FREE college, FREE healthcare and FREE housing.

 

[Truth Detector]

Firstly, don't rely on Wikipedia for your sources.

Secondly, yes, standards were weakened. That's what Bush's Working Group on Financial Markets said in 2008.

And thanks for posting a link showing Bush opposed GSE reform. Not that it mattered anyway; GSE's didn't cause the housing bubble...your shitty deregulation and tax cuts did.

Lying leftist dumbfuck that is immune from facts.

 

[evince]

The republican party caused the world wide economic crash on purpose to make money


the republican party caused the Iraq war on purpose to make money

 

[evince]

https://www.mercurynews.com/2008/09/26/sec-chief-acknowledges-failure-of-voluntary-oversight/


News

SEC chief acknowledges failure of ‘voluntary oversight”


By Mercury News | themerc@bayareanewsgroup.com |
September 26, 2008 at 3:11 pm

post 328



WASHINGTON — The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global financial crisis, and he abruptly shut the program down.
The SEC’s oversight responsibilities will largely shift to the Federal Reserve.
Also Friday, the SEC’s inspector general released a report strongly criticizing the agency’s performance in monitoring Bear Stearns before it collapsed in March. Christopher Cox, the commission chairman, said he agreed that the oversight program was “fundamentally flawed from the beginning.”

 

[Truth Detector]

Not the Fed you stupid motherfucker...Bush's Working Group on Financial Markets said that.

So now you're not even reading links given to you. That's because you're a fraud. But you know that already.

The link you provided was a FED paper you ignorant buffoon. Now do yourself a favor and STFU. We know you're a ling leftist hyper partisan asshat on steroids; you don't have to keep convincing anyone.

 

[Truth Detector]

the whole time the Bush assholes were fighting the sates who were trying to make state laws to regulate the banks

The Twerp must love having a lunatic idiot on his side.

 

[Truth Detector]

Not the Fed you stupid motherfucker...

Lying leftist getting TRIGGERED!!

 

[Nordberg]

We treated Greenspan like he was an all knowing oracle. He was the default treasury head if Dems or Repubs were in charge. He was a farce. He was a Libertarian who actually believed if the banking industry was deregulated, it would naturally do the right thing for the people. Who needs regulation? Well he got his way with Gramm/Leach and the bankers were set free. They saw it as a license to steal and loot on a scale the world had never seen. They were the creators of the real estate/banking crash. They bought off what little regulation was left. The rating agencies caved in totally. They oked any and all deals saying they were based on sound economics. They lied and admitted it. They and the bankers walked away with all the loot they stole. They even got their bonuses as the banks were crashing.

They did not go away. They waited for a guy like Trump to come in and they could loot again.

 

[cawacko]

We treated Greenspan like he was an all knowing oracle. He was the default treasury head if Dems or Repubs were in charge. He was a farce. He was a Libertarian who actually believed if the banking industry was deregulated, it would naturally do the right thing for the people. Who needs regulation? Well he got his way with Gramm/Leach and the bankers were set free. They saw it as a license to steal and loot on a scale the world had never seen. They were the creators of the real estate/banking crash. They bought off what little regulation was left. The rating agencies caved in totally. They oked any and all deals saying they were based on sound economics. They lied and admitted it. They and the bankers walked away with all the loot they stole. They even got their bonuses as the banks were crashing.

They did not go away. They waited for a guy like Trump to come in and they could loot again.

Greenspan and the Fed had nothing to do with the partial repeal of glass stegal. The Fed doesn't promote or sign legislation. Where did you even come up with that?

 

[The Derp]

No they did not you incoherent dullard.

Yes, they did. You said Democrats were the ones who stopped GSE reform, and you were wrong about that. You were wrong because it was the Bush Administration, that you voted for and supported, who killed GSE reform in 2003:

In October, 2003, "Strong opposition by the Bush administration forced a top Republican congressman to delay a vote on a bill that would create a new regulator for mortgage giants Fannie Mae and Freddie Mac."

Also in October 2003: Despite what appeared to be a broad consensus on GSE regulatory reform, efforts quickly stalled. A legislative markup scheduled for October 8, 2003, in the House of Representatives was halted because the Bush administration withdrew its support for the bill,

So before we can go even one step further in this debate, you must first acknowledge that it was Bush the Dumber, who you voted for and supported, that put the kibosh on any GSE reform before the bubble even started.

 

[The Derp]

No they did not you incoherent dullard.

Conclusion

If the affordable housing goals don’t account for the GSEs’ purchases of high risk subprime mortgages and their subsequent financial collapse, what does? The best explanation is the simplest. The GSEs badly misjudged the risk of subprime and Alt-A mortgages. They thought there were large profits to be made in the growing subprime market, and they sought to maintain and expand their share of the home mortgage market. They were not alone in misjudging the risks of subprime mortgages; so did other lenders. Indeed, the GSEs were by no means the first lenders to run into problems with their non-prime portfolios; HSBC and New Century were frontpage news in February 2007. But the GSEs, because they were bigger and were required to hold less capital took the biggest risks and had the most spectacular problems.

The GSEs have made other misjudgments than threatened their solvency. Economists have often analyzed risk for financial institutions along three dimensions:
interest rate risk, credit risk, operations risk. The GSEs have experienced all three.

So you obviously don't know what words mean. All you're saying here is that the GSE's were hit hard too. Why were they hit hard? Simple; the Bush Administration forced them to start biuying risky loans in 2004, after reversing a 2000 HUD rule. So again, it was actions you took that caused GSE's to become destabilized.

And how did GSE loans perform anyway? Why better than all other types of loans. Period.



So you see there on the chart that GSE's had the lowest delinquency rate of all loans, and were the last loans to rise in delinquency. Which means GSE's were not the cause of the collapse, but were a victim of it.

 

[The Derp]

No they did not you incoherent dullard.

Conclusion

If the affordable housing goals don’t account for the GSEs’ purchases of high risk subprime mortgages and their subsequent financial collapse, what does? The best explanation is the simplest. The GSEs badly misjudged the risk of subprime and Alt-A mortgages. They thought there were large profits to be made in the growing subprime market, and they sought to maintain and expand their share of the home mortgage market. They were not alone in misjudging the risks of subprime mortgages; so did other lenders. Indeed, the GSEs were by no means the first lenders to run into problems with their non-prime portfolios; HSBC and New Century were frontpage news in February 2007. But the GSEs, because they were bigger and were required to hold less capital took the biggest risks and had the most spectacular problems.

The GSEs have made other misjudgments than threatened their solvency. Economists have often analyzed risk for financial institutions along three dimensions:
interest rate risk, credit risk, operations risk. The GSEs have experienced all three.

Which doesn't prove that GSE's were the cause of the collapse, but were rather victims of it. That's what the words you quoted mean.

 

[The Derp]

The Democratic Party of the Jackass most certainly represents a Fascistic, socialist, Marxist ideology that believes in Government enterprises, FREE college, FREE healthcare and FREE housing.

Now you're just spitting whatever words your little mind can come up with in order to defend your own fascist party.

How can something be both fascists and marxist at the same time? The answer is that it can't, and what you're doing is projecting your own bullshit out on everyone else.

 

[The Derp]

The link you provided was a FED paper you ignorant buffoon. Now do yourself a favor and STFU. We know you're a ling leftist hyper partisan asshat on steroids; you don't have to keep convincing anyone.

No it fucking wasn't you stupid moron.

This is from the Bush Working Group on Financial Markets. It literally says that it's from the Bush Working Group. So what's your excuse for thinking it came from the Fed? The only excuse is that you're a lazy and sloppy person with no work ethic whose ego is so fragile you have to cocoon yourself in a bubble of lies and delusion. SAD!

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”
http://www.treasury.gov/resource-cen...s update.pdf

That is not a link to the Fed, boy genius. You would know that if you clicked on the link, which you obviously didn't do because you're a lazy, entitled nobody.

 

[The Derp]

Lying leftist getting TRIGGERED!!

I clearly triggered you. Look how many of the same meme you're posting over and over because you cannot handle the fact that who you support and what you believe is utter shit.

Maybe kill yourself? You probably will anyway.

 

[The Derp]

Greenspan and the Fed had nothing to do with the partial repeal of glass stegal. The Fed doesn't promote or sign legislation. Where did you even come up with that?

Entirely correct. Greenspan thought in 2001 that we had to get rid of the surplus because paying off the debt by 2010 "wouldn't be fair to the bondholders"...that's why Greenspan supported and promoted the Bush Tax Cuts which ushered in the worst economic growth in 80 years, the erasing of a surplus and manufacturing of record deficits, and the economic collapse.

It was Bush the Dumber whose regulators ceased enforcement of lending standards for subprime loans beginning in 2004; those loans would default less than two years after they were issued, and that's what caused the subprime mortgage crisis.

Bush and the Conservatives were deliberately inflating a housing bubble in order to make the economy look like it was growing in 2004 as a result of the tax cuts when it was really growing as a result of debt.

 

[Truth Detector]

We treated Greenspan like he was an all knowing oracle. He was the default treasury head if Dems or Repubs were in charge. He was a farce. He was a Libertarian who actually believed if the banking industry was deregulated, it would naturally do the right thing for the people. Who needs regulation? Well he got his way with Gramm/Leach and the bankers were set free. They saw it as a license to steal and loot on a scale the world had never seen. They were the creators of the real estate/banking crash. They bought off what little regulation was left. The rating agencies caved in totally. They oked any and all deals saying they were based on sound economics. They lied and admitted it. They and the bankers walked away with all the loot they stole. They even got their bonuses as the banks were crashing.

They did not go away. They waited for a guy like Trump to come in and they could loot again.

Translation:

 

[Truth Detector]

Yes, they did. You said Democrats were the ones who stopped GSE reform, and you were wrong about that. You were wrong because it was the Bush Administration, that you voted for and supported, who killed GSE reform in 2003:

You keep posting the same dumb bullshit thinking it doesn't make you look lie a bigger moron; you would be wrong. I never said Democrats stopped GSE's you ignoramus....I said they were the one's who attacked the regulator trying to warn them they were headed for trouble by race hustling the issue. It was the Democratic Party of the Jackass that turned it into a racial matter.

Bush didn't kill GSE reform no matter how many time you stupidly and falsely claim it.

This is why I don't argue with lying leftist idiots.