Page 3 of 8 FirstFirst 12345678 LastLast
Results 27 to 39 of 95
  1. #27
    Join Date
    Sep 2006
    Location
    Losantiville
    Posts
    1,767
    Quote Originally Posted by ga-hvac-tech View Post
    Been trading markets for decades... you are not gonna take me down that bunny trail.

    The debacle of derivitives in mortgages would NEVER have happened if there were not low quality mortgages to bundle. And lets not forget the DiTech 125% loans... that was just idiotic.

    IMO folks who screwed up and bought a house without enough capital and income... and loose it... well they learned a lesson they would never forget. Life is not guaranteed... it is risky. Learning how to be wise with risk is more important than how many toys I have.
    I don't doubt your trading abilities but everyone on the net is an expert.
    You are just reinforcing my case as to the cause of this economic downturn, the lenders should have known better, and they did, they just found a way to make alot of money packaging this garbage. The big bad government Democrats did not force DiTech to write 125% no doc interest only loans.
    Fox News - Rich people paying rich people to tell middle class people to blame the poor.

  2. #28
    Join Date
    Dec 2000
    Location
    I'm an old cowhand from the Rio Grande
    Posts
    17,089
    Quote Originally Posted by ga-hvac-tech View Post
    IMO we need another recession
    And there you have it. One conservative's cut off your nose to spite your face solution to economic troubles.
    Gods are fragile things; they may be killed by a whiff of science or a dose of common sense.

    Chapman Cohen

  3. #29
    Join Date
    Apr 2012
    Location
    Paper Street Soap Company
    Posts
    2,304
    Quote Originally Posted by netsalt View Post
    I don't doubt your trading abilities but everyone on the net is an expert.
    You are just reinforcing my case as to the cause of this economic downturn, the lenders should have known better, and they did, they just found a way to make alot of money packaging this garbage. The big bad government Democrats did not force DiTech to write 125% no doc interest only loans.
    But thry did force Fannie and Freddie to purchase sub standard loans and bundle and sell them off.

    They mixed them with legitimate loans too.

    Your arguments only work with a Quarter of the relevent information.

    If no one bought them then Bsrneys Affordable Housing Act would'nt have worked.

  4. #30
    Join Date
    Dec 2000
    Location
    I'm an old cowhand from the Rio Grande
    Posts
    17,089
    Quote Originally Posted by Six View Post
    But thry did force Fannie and Freddie to purchase sub standard loans and bundle and sell them off.

    They mixed them with legitimate loans too.

    Your arguments only work with a Quarter of the relevent information.

    If no one bought them then Bsrneys Affordable Housing Act would'nt have worked.
    With barely 6% of Fannie and Freddie's loans tied to the CRA, your continued assertions are laughably bogus.
    Gods are fragile things; they may be killed by a whiff of science or a dose of common sense.

    Chapman Cohen

  5. #31
    Join Date
    Jun 2002
    Location
    Dacula, GA
    Posts
    12,578
    Funny Biden is from Scranton. He should go back there and tell them you all should be proud that we have shut down coal mining here that cost them jobs and talk about the billions the Democrats have spent on creating "green jobs" with the stimulus money and don't tell them that all the solar companies made off with the tax dollars and went bankrupt and they were all big contributors to the commie loving Democrats. Thank you, thank you very much
    "I could have ended the war in a month. I could have made North Vietnam look like a mud puddle."
    "I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them. It is not to inaugurate new programs, but to cancel old ones that do violence to the Constitution."
    Barry Goldwater

  6. #32
    Join Date
    Mar 2004
    Location
    SE Michigan
    Posts
    17,909
    I dont understand how a liberal democrat can walk around and be seen, let alone speak and not feel ashamed of themselves.

    I guess ignorance really is bliss for these people.
    " Kill a Commie for Mommy! "

    - Colonel David Hackworth (1930-2005), Korean War Vet

  7. #33
    Join Date
    Apr 2012
    Location
    Paper Street Soap Company
    Posts
    2,304
    Quote Originally Posted by geerair View Post
    With barely 6% of Fannie and Freddie's loans tied to the CRA, your continued assertions are laughably bogus.
    And your assertions are lies unless you want to post some facts to back up your crazy.

    GEERY for almost 70 years fannie mae has been buying mortgages.

    When your boy toy Barney Frank forced them to buy crap paper within 10 years our financial system crashed


    And I AM talking about THE AFFORDABLE HOUSING ACT.

    Please try to keep up.

    The CIA also had a huge impact on the sub prime debacle.

    Cinton ordered 55% of all loans be financed through low collateral alternatives.

    So take your 6% lie and .....well you know what to do.

    Put it qhere you pull a of your facts from

  8. #34
    Join Date
    Dec 2000
    Location
    I'm an old cowhand from the Rio Grande
    Posts
    17,089
    Quote Originally Posted by Six View Post
    And your assertions are lies unless you want to post some facts to back up your crazy.

    GEERY for almost 70 years fannie mae has been buying mortgages.

    When your boy toy Barney Frank forced them to buy crap paper within 10 years our financial system crashed


    And I AM talking about THE AFFORDABLE HOUSING ACT.

    Please try to keep up.

    The CIA also had a huge impact on the sub prime debacle.

    Cinton ordered 55% of all loans be financed through low collateral alternatives.

    So take your 6% lie and .....well you know what to do.

    Put it qhere you pull a of your facts from
    "From The Report on The Financial Crisis" The National Commission On the Causes of The Financial and Economic Crisis In The United States:

    "The Commission concludes that the Community Re-Investment Act was not a significant factor in subprime lending or the crisis. Research indicates that only 6% of high cost loans-a proxy for subprime loans-had any connection to the CRA."



    You seem to be fond of labeling facts you don't like as lies.

    But as we have seen in other cases and most recently on this post, your accusations of lies are in actuality the product of your profound ignorance and rabid partisanship.


    Kind of a Limbaugh starter kit.
    Gods are fragile things; they may be killed by a whiff of science or a dose of common sense.

    Chapman Cohen

  9. #35
    Join Date
    Apr 2012
    Location
    Paper Street Soap Company
    Posts
    2,304
    Quote Originally Posted by geerair View Post
    "From The Report on The Financial Crisis" The National Commission On the Causes of The Financial and Economic Crisis In The United States:

    "The Commission concludes that the Community Re-Investment Act was not a significant factor in subprime lending or the crisis. Research indicates that only 6% of high cost loans-a proxy for subprime loans-had any connection to the CRA."



    You seem to be fond of labeling facts you don't like as lies.

    But as we have seen in other cases and most recently on this post, your accusations of lies are in actuality the product of your profound ignorance and rabid partisanship.


    Kind of a Limbaugh starter kit.

    So the people that were basically the cause of the collapse got to investigate...... themselves.

    And they didn't name names ????? Who would have thought........

    This is from their report...

    While the vulnerabilities that created the potential for crisis were years in the making, it was the collapse of the housing bubble—fueled by low interest rates, easy and available credit, scant regulation, and toxic mortgages— that was the spark that ignited a string of events, which led to a full-blown crisis in the fall of 2008. Trillions of dollars in risky mortgages had become embedded throughout the financial system, as mortgage-related securities were packaged, repackaged, and sold to investors around the world. When the bubble burst, hundreds of billions of dollars in losses in mortgages and mortgage-related securities shook markets as well as financial institutions that had significant exposures to those mortgages and had borrowed heavily against them. This happened not just in the United States but around the world. The losses were magnified by derivatives such as synthetic sec...


    Now liberals are programmed to start spitting out the word "derivative" like a retarded parrot but it's just their general ignorance of the finance sector and their refusal to learn

    AND from The Cato Institute...

    In the case of the housing price boom, the government played a
    role in stimulating demand for houses by proselytizing the benefits of
    home ownership for the well-being of individuals and families.
    Congress was also more than a bit player in this campaign. Fannie
    Mae and Freddie Mac were created as government-sponsored enterprises. Beginning in 1992 Congress pushed Fannie Mae and Freddie
    Mac to increase their purchases of mortgages going to low- and moderate-income borrowers. In 1996, HUD, the department of Housing
    and Urban Development, gave Fannie and Freddie an explicit target:
    42 percent of their mortgage financing had to go to borrowers with
    incomes below the median income in their area. The target increased
    to 50 percent in 2000 and 52 percent in 2005. For 1996, HUD
    required that 12 percent of all mortgage purchases by Fannie and
    Freddie had to be “special affordable” loans, typically to borrowers
    with incomes less than 60 percent of their area’s median income
    . That
    number was increased to 20 percent in 2000 and 22 percent in 2005.
    The 2008 goal was to be 28 percent. Between 2000 and 2005 Freddie
    and Fannie met those goals every year, and funded hundreds of billions of dollars worth of loans, many of them subprime and
    adjustable-rate loans made to borrowers who bought houses with less
    than 10 percent down.


    Why were toxic mortgages being traded at all and why were they NOT traded prior to 1992 ??

    Your boy toy and Barney Frank screwed a lot of people out of their life savings with their liberal nonsense.

    Who forced Fannie and Freddie to start buying toxic mortgages ?

    CRA was the initiative and the Affordable Housing Act was the death blow BOTH initiated by democrats and their destructive policies.

    What happened on Wall Street with derivatives was part of the governments plan to increase home ownership among low income earners and people with bad credit.

    Who packaged and sold those toxic mortgage based assets ????

    Hint....It's starts with a Fannie and ends with a Mae.

    But the evil boogie man banks are the cause to all the world problems.

    It made a lot of rich people poor GEERY . That should make you happy.

    And keep your secret crush on Rush Limbaugh to you self.

    It's sick,

  10. #36
    Join Date
    Sep 2005
    Location
    Atlanta GA area
    Posts
    21,057
    Quote Originally Posted by Six View Post
    So the people that were basically the cause of the collapse got to investigate...... themselves.

    And they didn't name names ????? Who would have thought........

    This is from their report...

    While the vulnerabilities that created the potential for crisis were years in the making, it was the collapse of the housing bubble—fueled by low interest rates, easy and available credit, scant regulation, and toxic mortgages— that was the spark that ignited a string of events, which led to a full-blown crisis in the fall of 2008. Trillions of dollars in risky mortgages had become embedded throughout the financial system, as mortgage-related securities were packaged, repackaged, and sold to investors around the world. When the bubble burst, hundreds of billions of dollars in losses in mortgages and mortgage-related securities shook markets as well as financial institutions that had significant exposures to those mortgages and had borrowed heavily against them. This happened not just in the United States but around the world. The losses were magnified by derivatives such as synthetic sec...


    Now liberals are programmed to start spitting out the word "derivative" like a retarded parrot but it's just their general ignorance of the finance sector and their refusal to learn

    AND from The Cato Institute...

    In the case of the housing price boom, the government played a
    role in stimulating demand for houses by proselytizing the benefits of
    home ownership for the well-being of individuals and families.
    Congress was also more than a bit player in this campaign. Fannie
    Mae and Freddie Mac were created as government-sponsored enterprises. Beginning in 1992 Congress pushed Fannie Mae and Freddie
    Mac to increase their purchases of mortgages going to low- and moderate-income borrowers. In 1996, HUD, the department of Housing
    and Urban Development, gave Fannie and Freddie an explicit target:
    42 percent of their mortgage financing had to go to borrowers with
    incomes below the median income in their area. The target increased
    to 50 percent in 2000 and 52 percent in 2005. For 1996, HUD
    required that 12 percent of all mortgage purchases by Fannie and
    Freddie had to be “special affordable” loans, typically to borrowers
    with incomes less than 60 percent of their area’s median income
    . That
    number was increased to 20 percent in 2000 and 22 percent in 2005.
    The 2008 goal was to be 28 percent. Between 2000 and 2005 Freddie
    and Fannie met those goals every year, and funded hundreds of billions of dollars worth of loans, many of them subprime and
    adjustable-rate loans made to borrowers who bought houses with less
    than 10 percent down.


    Why were toxic mortgages being traded at all and why were they NOT traded prior to 1992 ??

    Your boy toy and Barney Frank screwed a lot of people out of their life savings with their liberal nonsense.

    Who forced Fannie and Freddie to start buying toxic mortgages ?

    CRA was the initiative and the Affordable Housing Act was the death blow BOTH initiated by democrats and their destructive policies.

    What happened on Wall Street with derivatives was part of the governments plan to increase home ownership among low income earners and people with bad credit.

    Who packaged and sold those toxic mortgage based assets ????

    Hint....It's starts with a Fannie and ends with a Mae.

    But the evil boogie man banks are the cause to all the world problems.

    It made a lot of rich people poor GEERY . That should make you happy.

    And keep your secret crush on Rush Limbaugh to you self.

    It's sick,
    I am not gonna go down the conspiracy road, even though I believe there is a definite possibility... however from my studies it is clear a lot of middle class families were wiped out, while the rich got richer. And a lot of those rich who became richer were/are LIBERAL DEMOCRATS. So do not blow any smoke at me about how conservative GOP types are to blame... Bill Clinton, Barney Franks, and a host of other LIBERAL DEMOCRATS are the cause of the crises of 2008.
    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

  11. #37
    Join Date
    Dec 2008
    Location
    Buffalo NY
    Posts
    3,082
    Quote Originally Posted by ControlsInMT View Post
    That's funny, I heard on ABC news radio (yes your liberal media) that the CBO announced that the top 1% are paying 70% of the taxes. Maybe if the free loaders of this country would get off their lazy butts and be productive members of society the country would improve.

    Heard a report thhis morning that outside a Welfare office several people were interviewed and said there just weren't any jobs to be had. Reported searched in a short radius and found 40 job openings....what does that tell you?
    I totally agree with you. These governments whether republican or democratic spend TO MUCH MONEY! They give all of our tax dollars to people who do nothing for it. When I can't afford something I save until I get the money to buy it. Why should we as tax payers pay for people who pump out kids for more money and have no interest in becoming a productive citizen. The mentality today is that we are ENTITLED to have everything that the jones have without out working for it. Obamas robin hood plan of taking from the rich and giving to the poor is BS. Define RICH. Am I rich? Are you rich? Why should people work if the government is just going to take your money away?


    Sent from my iPad using Tapatalk HD
    Join http://scopeny.org/ Shooter’s Committee on Political Education

    The world is full of sheep,try not to join the flock.

    Support the Skilled Trades, Don't DIY

  12. #38
    Join Date
    Sep 2005
    Location
    Atlanta GA area
    Posts
    21,057
    Quote Originally Posted by qwerty hvac View Post
    I totally agree with you. These governments whether republican or democratic spend TO MUCH MONEY! They give all of our tax dollars to people who do nothing for it. When I can't afford something I save until I get the money to buy it. Why should we as tax payers pay for people who pump out kids for more money and have no interest in becoming a productive citizen. The mentality today is that we are ENTITLED to have everything that the jones have without out working for it. Obamas robin hood plan of taking from the rich and giving to the poor is BS. Define RICH. Am I rich? Are you rich? Why should people work if the government is just going to take your money away?


    Sent from my iPad using Tapatalk HD
    It is called 'buying votes' and they are doing it with YOUR $$$. IMO the ONLY person who can stop this is YOU (generic you, not the poster).... by voting out the corrupt and voting in the honest.
    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

  13. #39
    Join Date
    Dec 2008
    Location
    Buffalo NY
    Posts
    3,082
    Quote Originally Posted by ga-hvac-tech View Post
    It is called 'buying votes' and they are doing it with YOUR $$$. IMO the ONLY person who can stop this is YOU (generic you, not the poster).... by voting out the corrupt and voting in the honest.
    But who is honest now? You vote someone in and they get corrupted. We have to get back to basic government where our elected officials are accountable for what they do. We also have to reduce the size of the federal government by 2/3.


    Sent from my iPad using Tapatalk HD
    Join http://scopeny.org/ Shooter’s Committee on Political Education

    The world is full of sheep,try not to join the flock.

    Support the Skilled Trades, Don't DIY

Page 3 of 8 FirstFirst 12345678 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Comfortech Show Promo Image

Related Forums

Plumbing Talks | Contractor Magazine
Forums | Electrical Construction & Maintenance (EC&M) Magazine
Comfortech365 Virtual Event