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  1. #40
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    Quote Originally Posted by qwerty hvac View Post
    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
    Oh, I agree!! Been shouting that from the mountain-tops for decades... seems only in the last few mos folks are finally listening. MeThinks the financial pain is severe enough...

    To answer your question... it does not take a rocket scientist to judge who is honest and who is crooked. It does, however, take eternal vigilance (read that NAG the H*LL out of your congresscritter) to keep them honest.

    Example: In the thread about Senators voting for or against the UN gun treaty... I wrote both of my senators and told them:

    Either I see the record showing you voted AGAINST this, or I do everything in my power to see you retired at or before the next election... no options.
    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

  2. #41
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    Dec 2008
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    3,145
    I am glad we are on the same page. I don't always talk politics but things are starting to get bad and something has to change soon.


    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

  3. #42
    Join Date
    Jun 2006
    Location
    SW MO.
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    5,218
    Quote Originally Posted by netsalt
    so where are the jobs you big time job creators?
    Why does that sound familiar? Oh yea! Hey everybody, we have Joe Biden in our presence.

    http://m.washingtonexaminer.com/bide...rticle/2501270
    Discipline your child so that other parents don't have to.

    We're awl pawthetic and kweepy and can't get giwrls. That's why we fight wobots.

  4. #43
    Join Date
    Dec 2000
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    I'm an old cowhand from the Rio Grande
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    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...
    Then they concluded that the CRA involvement was minor .........about 6%.

    They also concluded that Fannie and Freddie mortage securities did not contribute to the significant financial firm losses that were central to the financial losses.





    ]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.
    See above.


    Why were toxic mortgages being traded at all and why were they NOT traded prior to 1992 ??
    You would have to ask the financial firms that traded in them.

    Your boy toy and Barney Frank screwed a lot of people out of their life savings with their liberal nonsense.
    Yes, that is what the uninformed and the rabidly partisan would say as we have clearly shown.

    Who forced Fannie and Freddie to start buying toxic mortgages ?
    The CRA loans performed better and had less delinquencies than comparable non CRA loans. (that is in the Commission's report as well.)

    CRA was the initiative and the Affordable Housing Act was the death blow BOTH initiated by democrats and their destructive policies.
    You've shown no credible evidence of this. In fact, the Commission report rebuts this wornout Limbaugh drivel.

    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.
    Ah, so that is what Bush the Dumber meant in his State of Union address when he bragged that his administration was "" increasing minority home ownership."

    Who packaged and sold those toxic mortgage based assets
    Hint....It's starts with a Fannie and ends with a Mae.


    I see many banks and financial services firms but no Freddie and Fannie.

    But the evil boogie man banks are the cause to all the world problems.
    Not all, just this one.

    It made a lot of rich people poor .
    Certainly did.

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

    It's sick,
    How can I? You are always channelling him.
    Gods are fragile things; they may be killed by a whiff of science or a dose of common sense.

    Chapman Cohen

  5. #44
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    You dont have the honesty or integrity to answer my questions.

    Ive done nothing but post links to credible sources to which you with your slimey MO.

    Youve posted irrelevent trash.

  6. #45
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    Mar 2004
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    SE Michigan
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    Quote Originally Posted by Six View Post
    You dont have the honesty or integrity to answer my questions.

    Ive done nothing but post links to credible sources to which you with your slimey MO.

    Youve posted irrelevent trash.
    Did you expect any less?
    To put the world in order, we must first put the nation in order; to put the nation in order, we must put the family in order; to put the family in order, we must cultivate our personal life; and to cultivate our personal life, we must first set our hearts right.
    -- Confucius

  7. #46
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    Atlanta GA area
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    Quote Originally Posted by Six View Post
    You dont have the honesty or integrity to answer my questions.

    Ive done nothing but post links to credible sources to which you with your slimey MO.

    Youve posted irrelevent trash.
    Quote Originally Posted by coolwhip View Post
    Did you expect any less?
    Told ya...

    The poster you reference IMO has one agenda... poke fun at you to get you riled up... them make fun of you being riled up. IMO the poster will take the opposite position of yours, regardless.

    I suspect if someone came along taking a middle/road position... the poster in question might take a conservative position just to play their game.
    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

  8. #47
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    I'm not riled up in the least.
    Geery gets his/her/its a$$ handed to her\him\its everytime I reply.

    The fundamental underlying motivation of every liberal has to do with their own level of self loathing.

    Im enjoying contributting to their pathology and running up their Counseling bills.

  9. #48
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    I'm an old cowhand from the Rio Grande
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    Quote Originally Posted by Six View Post
    You dont have the honesty or integrity to answer my questions.
    By any definition your questions were answered. That you don't like the answers because they destroy your Limbaugh channelled narrative is just sour grapes on your part.

    Surely if you've learned nothing else you should have learned by now that reality is a female dog.

    But then you seem to live in the fantasy Limbaugh world.



    Ive done nothing but post links to credible sources to which you with your slimey MO.
    You've indeed have posted links but those links have done nothing to rebut the facts at issue.

    Hell boy, anybody can post links. The point about links is that they are only effective if they credibly rebut the opposing argument. In this you have failed miserably.

    That you have failed is the product of your rabid partisanship which admits no contrary facts and requires a strict adherence to ideology no matter what reality might present.

    You have bragged about your debate prowess but in fact you demonstrate no more skill or finesse than could be found in your average elementary school playground.







    Youve posted irrelevent trash.
    More choice projection.
    Gods are fragile things; they may be killed by a whiff of science or a dose of common sense.

    Chapman Cohen

  10. #49
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    Mar 2005
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    Florida
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    A pretty good run down on the evolution of the CRA.

    http://www.businessinsider.com/the-p...ent-act-2009-6

  11. #50
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    Quote Originally Posted by geerair View Post
    By any definition your questions were answered. That you don't like the answers because they destroy your Limbaugh channelled narrative is just sour grapes on your part.

    Surely if you've learned nothing else you should have learned by now that reality is a female dog.

    But then you seem to live in the fantasy Limbaugh world.



    You've indeed have posted links but those links have done nothing to rebut the facts at issue.

    Hell boy, anybody can post links. The point about links is that they are only effective if they credibly rebut the opposing argument. In this you have failed miserably.

    That you have failed is the product of your rabid partisanship which admits no contrary facts and requires a strict adherence to ideology no matter what reality might present.

    You have bragged about your debate prowess but in fact you demonstrate no more skill or finesse than could be found in your average elementary school playground.







    More choice projection.
    Ok answer this one question HONESTLY....

    Why did Fannie and Freddie start purchasing sub-prime loans to package and sell as derivitives to the Investment bankers ?


    The answer is in one of my previous post. Lets see if you have thr courage to be honest.

  12. #51
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    Jan 2009
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    Gulf Coast
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    Quote Originally Posted by Six View Post
    Ok answer this one question HONESTLY....

    Why did Fannie and Freddie start purchasing sub-prime loans to package and sell as derivitives to the Investment bankers ?


    The answer is in one of my previous post. Lets see if you have thr courage to be honest.
    Haaaaaaaaahhhhhhhhhhh!:

  13. #52
    Join Date
    Sep 2007
    Location
    Boise, ID
    Posts
    4,396
    Barney's boyfriend was in charge of the subprime loan dept at either Freddie or Fanny, I forget which. He made wheel barrow fulls of cash and got out, quit, just in the nick of time and opened a pottery shop. Probably just a qa-winky-dink.
    If a nation expects to be ignorant and free, in a state of civilization, it expects what will never be. (Thomas Jefferson 1816)

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