I blame our government for this mortgage crisis, that means Democrats, Republicans, and Independents. Although lately I’m getting pretty tied of the Democrats blaming the Republicans lack of regulation, when it was the Democrats that blocked “Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190″; http://www.govtrack.us/congress/bill.xpd?bill=s109-190 a bill that would have placed much needed regulations on Fannie Mae and Freddie Mac. Every single Democrat voted against it in …
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who is responsible! the Government for christ sake!!!!!!!!
@Lumadar, what are you talking about?
Wasn’t the CRA used to give loans to poor non-white people?
And i hate to tell you this, but this CRA blame shows the people who believe it can’t apply basic numerical logic to a situation. Which is a damn shame because the lowest rate of foreclosures happened in red states, like Louisiana. Republicans could’ve used that outcome in our favor. Instead Fox is tossing out myths which is irrelevant to the big scheme. watch?v=XdbQKo4rD40
@karen32862, i already contacted her to express opposition to the bailout this fall. And of course she didn’t listen.
@Lumadar, it was reported that many of these “poor white ethnics” are, well upper middle class SPECULATORS.
@Truelove6, I presented FACTs.
Why do you love drama so much?
Sounds to me like he finds your stupid comments painful.
Anyone who blames the poor people in this are deflecting the blame from the real culprits: THE CROOKS IN CONGRESS WHO TOOK MASSIVE POLITICAL CONTRIBUTIONS FROM FREDDIE MAC AND FANNIE MAE. I for one would like to see these criminals perp-walked out of their offices (which are actually our offices) so they can face a jury of their peers (us). This goes way beyond carelessness and being bad at their jobs… they committed and caused a financial crisis by allowing/contributing to a ponzy-sceme.
you are absolutely right, the dems and repubs were both in on this that is very clear. and no one is even talking about greenspan and his role, not raising interest rates? interesting. basically it is just another smokscreen to distract us, like racism, bird flu, global warming, if you wnat the truth follow the money!
Yes, we need fiscal conservatives in Congress. Most Republicans have lost their way. And, the Democrats are unwilling to be conservative. We’re a nation of idiots. Congress has been unwilling to be fiscally responsible. So,
let’s vote the pinheads out and put people in there who work fir us, After all, we are the government. We’ve simply got the wrong kind of people at the helm. I want my country back. We are sliding down the slippery slope to socialism>>>>facism>>>>>communism.
This demonstrates the need for CONSERVATIVES in Congress. Hedonists / Liberals will give away the farm and our future for the sake of their own comfort.
US National security in the hands of liberals… our enemies will be ecstatic. .
You’re dead on, JB. I’ve researched archives from 1999 on, mostly NYTimes and WSJ, and they reconcile with everything you’ve said. It’s important to read the original articles, as many naysayers are going back and ‘reconstructing’ these events. That being said, I certainly am displeased with the Bush administration for reckless spending, although I blame congress for going along. Obama is rapidly eclipsing Bush in the spending dept.. Steve
White people make up over 70% of our country. So basically all I’m saying is that the poor minorities can’t be responsible for the subprime crisis. So you never proved me wrong. I don’t know why you find the truth so painful?
You do realize that the largest ethnicity of poor people in America is Caucasian, right? Wait, who am I kidding, you’re clearly retarded and don’t know a damn thing.
WRONG!!! These idiots are turning the Republican party into a RACIST sham. Compliance technologies studies show that 72% of subprime borrowers were caucasian. So guess what. Poor minorities, aka. a fraction of the whole don’t have the collective billions to cause this problem with. People who spread this trash around only want to keep a value of their realestate they know the economy could not support. Scapegoating isn’t going to solve anything.
Jews are to blame. Face the facts. I am jewish. You dumb gentiles. We created the A.R.M..
thehelpfund.blogspot
Fannie and Freddy were buying the bad loans up like hot cakes, therefore the banks had nothing to worry about. The Republicans tried to regulate it but every single Democrat on the committee voted against the Bill; they would have no part of it. Look up: FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005.
Not enough regulation is bad, but on the other hand too much is also bad. The problem is knowing how much is just right. I blame them all, congress and Bush; they were in charge.
ok so your meaning to tell me that BECAUSE of government regulation, banks gave out loans to people they KNEW wouldnt be able to pay them back? no thats not right at all my friend. if theres more government regulation economists can see that faulty loans like that shouldnt be happening and they would stop them.
The laws, rules, regulations, and pressure from groups like ACORN are why the banks lent money to those who should have stayed renters. Also the fact that freddy and fannie were willing to buy them up contributed greatly.
Bush was at fault too, he was leading this liberal garbage.
The Republicans did not regulate Fannie and Freddie, thats the bottom line. Republicans are always against Government intervention in economics. When banks start giving out loans to people who cant afford them, it becomes illegal. No one stopped them, and regulation is what the country needed, the free markets crashed. Republicans needed to accept regulation sooner.
“why would you give a mortgage to someone who cannot pay it when the adjustable kicks in”
Because the democrats made it so that Fannie Mae would buy that mortgage from the bank. In so doing the banks would be more likely to give these loans to people that they would normally not give them to.
These are the facts, you need to except them no matter who reported them.
Fuk News
“in exchange for campaign donations.” OMG
True the Democrats wanted fair lending policy, but why would you give a mortgage to someone who cannot pay it when the adjustable kicks in.
Only the bank and its employees gained..
The banks knew they would be bailed out.
The mortgage holder was left with a foreclosure, and a ruined credit record.
blame it on the poor.
BArney Frank never requested that you give a loan to someone with a overstated tax return, fictional w-2.
REMEBER THE SOURCE OF THIS: FUK NEWS.
OMG, the Democrats yelled at the Repub. They were thugs.
The mother of torture, the Repubs, were theatened by Barney Frank?
No one is a better con artist than the Repub.
They had complete control over everything, and anything Bush said , they voted for.
Remember. Repub stand for deregulation,non governmental interference. Repubs own the banks.
The point to be made is that all of the democrats on the committee voted no, while all of the republicans voted yes. And now you have the democrats trying to stick all of the blame on the republicans, and it’s not true.
I’m not sure but the democrats might have threatened a filibuster. It is true that the republicans should have been out on the steps of the capital building yelling at the top of their lungs if they new for sure that it was such a threat to our country.
Why does none of Bushs friends vote for McCain. They are all in jail.
Wasnt Congress and the President Republcan 2000-2006?
How did the Democrats outvote the Repub?
Why did the Repub give up? They AlwaYs got their way 2000-2006? How much energy did McCain put into it?
Yes i know it’s the fault of the illegal immigrant.
Was it known that the paperwork was often totally fraudulant with fake 1040s and fake W-2’s?
Who gained by this fraud?
i know i am an idiot, retard, stupid moran.