This is how we will defeat Trump
- Thread starter jimmymccready
- Start date
Cite the specific law that Bush wrote that caused the mortgage crisis. I will understand if you cannot find one.
Watch as Democrats attack the regulator and race hustle in the hearings in 2004 trying to get a handle on the impending crisis; yes the DEMOCRATS are the reason nothing was done folks:
Fannie Mae/Freddie Mac Hearings 2004
The push for entering Iraq began in the late 90s under Clinton. He and several Democrats were lobbying for war at that point. It didn't gain much traction until after 9/11. So, while the WMD argument certainly helped build momentum for war, the push for the war did not begin with said intel or even 9/11. Neocons in both parties had been interested in invading Iraq since the late 90s.
In your selective memory, I'm sure that's how it works, but in reality, the most recent version of the CRA at that time had encouraged banks to lend more in the subprime market. It doesn't excuse everything banks did leading up to the crash, but it was certainly a big factor.
The best way to prevent a future real estate crash of that magnitude is to remove government incentives in the subprime market and to make requirements for the various government subsidized loans much stricter.
WRONG; the Government controlled Fanny Mae and Freddie Mac were the culprits. Had they not been forced to lower the requirements for providing home mortgages based on race hustling, there would have been no collapse.
Watch as Democrats attack the regulator and race hustle in the hearings in 2004 trying to get a handle on the impending crisis; yes the DEMOCRATS are the reason nothing was done folks:
Fannie Mae/Freddie Mac Hearings 2004
evince
Truthmatters
As adopted, Regulation R provides banks with a transitional exemption until the first day of their first fiscal year commencing after Sept. 30, 2008. This will give banks time to make any necessary changes in their systems and compliance programs and should ensure that banks have time to come into compliance with the Exchange Act provisions relating to the broker definition. This exemptive rule will become effective on the date that the Commission's current order expires, Sept. 28, 2007.
it gave the banks a year to comply
then the markets crashed because they would be responsible to comply
it gave the banks a year to comply
then the markets crashed because they would be responsible to comply
That alone would not have resulted in the crash. Also, the real estate bubble had been developing for a few years before that point.
evince
Truthmatters
evince
Truthmatters
because the banks were dealing is risky sub prime crap because the laws were not being inforced asshole
If that's all you can muster for a counterargument, that's pathetic.
And where that applied, it was not solely the fault of one party or another.
The "friends of Angelo" included Barney Frank and Chris Dodd. They were deep within much of the disaster, and yet, they were allowed to write legislation that supposedly would prevent a future crash. It was rather ridiculous.
evince
Truthmatters
new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999.
evince
Truthmatters
the government didn't write any of the sub prime that killed the banks asshole
It was the private banks you dumb fuck lie filled dunce
It's also worth noting that Democrats had a majority in the House at that point (233 members), and there was an even split of Senators by party (49 each) with 2 independents (Bernie Sanders and Joe Lieberman).
evince
Truthmatters
Your Tourette's is showing.
Here's more about the friends of Angelo fiasco: https://en.wikipedia.org/wiki/Angelo_Mozilo#Friends_of_Angelo_(FOA)_VIP_program