Zeb, YOU were the one using the word "forced". I was just following your logic.
We had NO government between the end of the Clinton administration and the beginning of the Obama administration? We had a Republican president AND Congress from Jan. 2001 untill Jan, 2006. THEY are to be forgiven for doing nothing about the problem during this time while at the same time you seem to expect the Obama administration to solve all the problems of our economy in just 5 months??? I repeat: ONLY minorities and Democrats got these loans? What gives you that idea? No comment whatsoever on the rating agencies that gave this crap AAA ratings to ENABLE them to be sold all over the world? NOTHING? On May 25, 11:01 am, Zebnick <[email protected]> wrote: > > "claiming"? I do believe that was proven in court. > > You believe wrong. The only things that viral libs could ever "prove" > was that minorities got less loans than whites and some neighborhoods > didn't seem to get any loans. Well, thats because it was a POOR > neighborhood and the people who lived there didn't qualify for loans. > > > Someone FORCED banks to bundle up questionable laons and sell them on the > > world market? > > No someone ENABLED them to bundle these loans and sell them to the > world market. Our government. The Clinton administration, for one, > pressured Fannie Mae and Freddie Mac to lower their lending standards > to accommodate those people who had been "red lined." This had the > unfortunate side effect of allowing banks to bundle these loans and > sell them since the market would not by loan packages that did not > conform to Fannie and Freddie guidelines. > > And banks were FORCED to write these loans under the lowered > guidelines. The loans were monitored. If a bank dared to deny a > minority a loan because they thought it wasn't a wise idea for the > borrower, even though they met the guidelines, they could be sued and > the justice department would be right up their asses. They could even > lose their borrowing status with the government. > > There is nothing wrong with adjustable rate mortgages or ARMs. In > fact, for a long time they were a real bargain. But these loans, just > like a 30 year fixed product, become highly risky when lending > standards allow people with questionable credit, no money to put down > and just barely enough income to cover expenses, to get loans. > > It was the lowering of lending standards that was the genesis of this > crash. All other ills and evils follow from that horrendous error. > > On May 24, 9:25 pm, Hollywood <[email protected]> wrote: > > > > > Zeb, > > > "claiming"? I do believe that was proven in court. > > Someone FORCED banks to bundle up questionable laons and sell them on > > the world market? > > Someone FORCED the rating agencies to give these bundles AAA ratings > > them did not merit? > > Someone FORCED mortgage companies to to dream up adjustable rate > > mortgages? > > Someone FORCED banks/mortage companies loan people far more money > > than houses were actually worth/ > > Someone FORCED banks/mortgage companies to give "statement" loans > > where they did not even bother to verify stated incomes on loan > > applications? > > > And ONLY Democrats obtained these loans? You have some fucking nerve > > calling ANYONE an idiot. > > > On May 23, 5:39 pm, Zebnick <[email protected]> wrote: > > > > What got is "into this mess" was Democrats claiming that banks were > > > "red lining" and forcing them to lower their lending standards to > > > accomodate Democrat constituents. Bad loans got mixed in with good > > > loans, put into mortgage backed securities and sold to the entire > > > financial community. When the Dems shit loans went bad it took down > > > the whole system. Thank you fuckin idiot Dems. You just keep on fuckin > > > up our country! > > > > On May 22, 1:19 pm, Hollywood <[email protected]> wrote: > > > > > Zeb, > > > > > Please, how could anyone possibly be dumber concerning the economy > > > > that the Bush administration? > > > > Poorly regulated free-market capitalism is what got us into this mess > > > > in the first place. > > > > > On May 22, 10:45 am, Zebnick <[email protected]> wrote: > > > > > > Unfortunately, Obama's ignorance on the economy, willingness to > > > > > trample on the Constitution and and his disdain for free market > > > > > capitalism are no joke. > > > > > > On May 22, 11:32 am, Hollywood <[email protected]> wrote: > > > > > > > Zeb, > > > > > > > Oh, you were just trying to be a smart-ass. > > > > > > > On May 22, 10:06 am, Zebnick <[email protected]> wrote: > > > > > > > > >When did President Obama learn Farsi? > > > > > > > > At the same time he learned about economics, Constitutional > > > > > > > rights and > > > > > > > free market capitalism. > > > > > > > > On May 22, 10:04 am, Hollywood <[email protected]> > > > > > > > wrote: > > > > > > > > > d,b, > > > > > > > > > Oh please. Where was Dead-Eye during the 2008 Presidential > > > > > > > > election? > > > > > > > > No Republican candidate wanted him even close tto them. To be > > > > > > > > associated with Dick Cheney was the kiss of death for them come > > > > > > > > election day. > > > > > > > > When did President Obama learn Farsi? > > > > > > > > > On May 21, 10:21 pm, "d.b.baker" <[email protected]> wrote: > > > > > > > > > > For those who doubt Cheney is a force to be reckoned with, ask > > > > > > > > > yourself why Obama tried so hard to preempt him. Cheney was > > > > > > > > > scheduled > > > > > > > > > to speak, Obama jumped in at the last, desperate minute - > > > > > > > > > like a first > > > > > > > > > year student trying to outwit the master. In Farsi. > > > > > > > > > > My advice to Obama; go play on Air Force One.- Hide quoted > > > > > > > > > text - > > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > - Show quoted text -- Hide quoted text - > > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
