 5Cats
Male, 40-49, Canada
 17472 Posts
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Saturday, September 25, 2010 9:10:44 PM
madest drovide a link to his weird & wild opinions?
LOLLOLLOLLOL~
Might happen... NOT!
And thanks to @book21 :heart: It's nice to be appreciated! |
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 auburnjunky
Male, 30-39, Southern US
8770 Posts
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Saturday, September 25, 2010 10:05:32 AM
@eric:
Good point.
I don't think they had a board meeting and said "Let's make a policy that's going to bankrupt us, and have it where if we don't follow that policy, we get fined billions of dollars." |
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 howlingwolf
Male, 18-29, Eastern US
1359 Posts
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Saturday, September 25, 2010 9:42:49 AM
I did think when watching this segment it was one of the strongest ones I've seen from the Daily Show in months (though every episode and is great and Stuart is phenomenal). So um...who's going to his rally? |
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 EricWRN
Male, 30-39, Eastern US
593 Posts
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Saturday, September 25, 2010 6:47:14 AM
Madest: can you provide a source for that information please. Because it's fairly accepted that the government policy (including FHA and freddie and fannie) caused the housing bubble. Bank CEOs weren't just sitting around wringing their hands one night and deciding to start giving out sub-prime loans to people with no credit. |
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 CrakrJak
Male, 40-49, Midwest US
14460 Posts
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Friday, September 24, 2010 10:01:32 PM
Mortgage backed securities was a damn bad idea to begin with. But allowing them to run wild under the auspices of giving more poor people houses was an absolute time bomb. This was fraud on a massive basis, Worse than the savings & loan scandal and the culprits have still not seen a minute of jail time. Let's take a look at a few who got rich off this scandal.
Franklin D. Raines,
[Currently a Housing Policy Adviser for the Obama Campaign]
[Carter administration assistant director for Domestic Policy]
Fannie MaeChairman and CEO Designate
Salary $526,154, Award/Bonus $1,109,589
James A. Johnson
[Obama VP Vetter and Funds Bundler]
Chairman and CEO
Salary $966,000, Award/Bonus $1,932,000
Jamie Gorelick
[Deputy Attorney General for Clinton]
[Currently works for Law Firm representing Fannie Mae]
Vice-Chairman of Fannie Mae:
$567,000, Award/Bonus $779,625 |
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 TalcumX
Male, 50-59, Eastern US
565 Posts
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Friday, September 24, 2010 6:55:35 PM
someone is watering down the koolaid, hmmmm |
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 madest
Male, 40-49, Eastern US
6411 Posts
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Friday, September 24, 2010 4:56:23 PM
CrakrJack, The housing bubble was'nt caused by the FHA, Freddie Mac or Fanny Mae. You're being a dick for blaming it on an institution that's been around for 50 years, developed for and succeeded in fighting discrimination in housing.
No the bubble was caused by large financial institutions. They were smarter than the regulators and the bureaucracy built to monitor them. They greased the palms of the right politicians and gained the right to gamble with invested money. The brilliance of their scheme was they made something that was worthless, valuable and that fed the greed that led the banks to commit fraud by offering 0 down on 1/2 million dollar homes. You should really read a book on the subject because it's clear you're horribly misinformed. |
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 Cajun247
Male, 18-29, Southern US
9511 Posts
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Friday, September 24, 2010 3:32:50 PM
Like I said CrakrJak President Clinton tried reverse course with the Gramm-Leach-Bliley Act in 1999.
Bill Clinton made some stupid decisions but he made more smart decisions.
No president is perfect but as the way things stand I would very much prefer Bill Clinton to what we got now. |
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CrakrJak
Male, 40-49, Midwest US
14460 Posts
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Friday, September 24, 2010 2:55:41 PM
I had to split that into two comments because the IAB comment thing was messing up again, Shoving the previous comment into the side ---> |
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CrakrJak
Male, 40-49, Midwest US
14460 Posts
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Friday, September 24, 2010 2:54:04 PM
On June 6, 1996, President Clinton announced that he had directed FHA to reduce the up-front mortgage insurance premium (UFMIP) for first-time homebuyers who receive housing counseling. FHA Link
Clinton at least, Realized the problem though. |
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CrakrJak
Male, 40-49, Midwest US
14460 Posts
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Friday, September 24, 2010 2:53:53 PM
Cajun247: Bill Clinton signed into law GSE's like Freddie Mac to purchase subprime loans that were created by lenders. He basically formally approved subprime lending.
It is documented by the FTC
Clinton's changes:
"Freddie Mac, one of the primary government-sponsored enterprises involved in the purchase of mortgages, recently announced plans to enter the secondary market in subprime loans by purchasing significant numbers of "A minus" subprime mortgages by 1998 and the higher-risk "B and C" loans by 1999.(20)" FTC Link
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auburnjunky
Male, 30-39, Southern US
8770 Posts
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Friday, September 24, 2010 2:33:49 PM
Not defending Bush my man.
He was a drattard of the highest order. |
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Cajun247
Male, 18-29, Southern US
9511 Posts
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Friday, September 24, 2010 2:19:09 PM
Even so I still prefer a flip-flopper who realized his mistake and tried to fix it than one who can't settle on a position.
Oh sure George W. Bush tried to stop the crisis while he was spending MILLIONS of Dollars while:
1)Looking for non-existent WMDs
2)Castigating people in Iraq (deBaathification).
3)Enacting the stimulus bill approved by Republicans (a majority of them approved the 2008 stimulus).
Then he tried to say we could profit from the war with the oil we'd find. Of course we could...
...not without losing face of course. |
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auburnjunky
Male, 30-39, Southern US
8770 Posts
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Friday, September 24, 2010 1:36:34 PM
He did that AFTER he expanded the Community Re-investment act. He made it possible, no, he commanded banks to give risky loans to meet a quota.
It was only AFTER that expansion that things got this bad. |
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Cajun247
Male, 18-29, Southern US
9511 Posts
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Friday, September 24, 2010 12:51:31 PM
As I said I miss Bill Clinton. |
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Cajun247
Male, 18-29, Southern US
9511 Posts
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Friday, September 24, 2010 12:50:27 PM
You just made my point auburnjunky Bill Clinton recognized that the Republicans were trying stop the subprime mortgage crisis and so was he.
Anything else? |
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 book21
Male, 18-29, Southern US
117 Posts
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Friday, September 24, 2010 12:37:52 PM
5Cats FTW |
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auburnjunky
Male, 30-39, Southern US
8770 Posts
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Friday, September 24, 2010 12:37:30 PM
Fine the Cajun. Don't.
Linky. |
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book21
Male, 18-29, Southern US
117 Posts
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Friday, September 24, 2010 12:36:28 PM
thats why you vote NADER |
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Cajun247
Male, 18-29, Southern US
9511 Posts
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Friday, September 24, 2010 12:31:37 PM
I'm not going to say it again auburnjunky
Linky |
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book21
Male, 18-29, Southern US
117 Posts
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Friday, September 24, 2010 12:27:34 PM
@ crakrjak no one can make jimmy preferable |
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book21
Male, 18-29, Southern US
117 Posts
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Friday, September 24, 2010 12:25:35 PM
john stewart is just awesome |
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 Solvent
Male, 18-29, Eastern US
2764 Posts
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Friday, September 24, 2010 12:24:16 PM
First rule of voting: The guy who wins never does as good as a job he promised to do. |
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 MrPeabody
Male, 30-39, Eastern US
1502 Posts
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Friday, September 24, 2010 11:12:46 AM
'I don't think we can just point fingers at Bush and say "he caused the financial crisis!!!"'
Actually it was the democrats for the most part.
Watch the video below, its not long. Use your pause button if it moves to fast.
Facts of the housing crisis |
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 Altaru
Male, 18-29, Eastern US
3498 Posts
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Friday, September 24, 2010 10:42:32 AM
I just love how Obama went from "Greatest guy ever since Jesus" pre-election to "meh, he was the lesser of two evils!" 2 years later
I've called him the lesser of two evils from the start.
In fact, that's how I've referred to ANY party related politics since I discovered what politics were.
It's time we STOP this "lesser of two evils" bullsh*t, and just vote Cthulhu into office. At the very least we know he WILL keep his promises: Drive everyone in the world insane, and cause the end of mankind. |
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