Bush started the Mortgage mess. proof

Have you bothered to read this thread at all? I have called the OP on his stance, who is against the 'GOP'

I am calling anyone on crap who says it's one side or the other. I find the GOP members to be far and large pointing all blame at the Dems, most of the Dems have stated both sides are to blame from my reading.

Furthermore a 'fact' you posted was obviously not a fact. But I know, damn I should just have let a false statement slide, how dare I question you on it. If I call you on fiction I must support Obama!

I know you weren't responding to the email post, which is why I asked the question I did.

 

Grim - Have you not figured out yet why this is one area they dont want to get into a lot of detail on yet? LOL.
There's a reason, and it has nothing to do with being fair and open minded. Work on it a while... it'll come to you.

 

From my reading most that are saying there is blame to go on both sides are willing to look into it much further than those on either side trying to blame one side

 

unintended consequences. he is the one that advocated a large scale of no down payment loans. the investors used these no down payment loans.
he is the one that started it

 

has nothing to do with greenspan. the mortgage crisis is the direct result of bush's planing as he explains for you in the video.
gold is very high already.

 

Ok, last time I check Bush was the president of the United States, why then has the prices of homes fallen in the United Kingdom and other parts of Europe? The UK has bailed out/nationalized two banks this year, they didn't have a subprime issue on their hands.

 

The Bush administration was trying to regulate freddie/fannie back in 2003 and Congress failed to act.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

http://query.nytimes.com/gst/fullpa...932A2575AC0A9659C8B63&sec=&spon=&pagewanted=2

Barney Frank, on the left as always

 

they have taken these mortgagees and bundled it and sold it all over the world.
now they are also in danger and that is why we are going to bail the foreign banks also.

 

just watch the video and you see how bush pressured fannie and freddie to change their rules, to accelerate his program. Bush proudly takes credit for this loosening of rules
and there is nothing wromg with being gay. hanging in the bathroom to score a gay prostitute is against the law. like what larry craig did.

 

Problem is "your reading" systematically leads you to misinterpret my writing. I've said in numerous threads there is blame to go on both sides regarding the economy BUT I have a long association with the mortgage and housing related side of it... (having been required by profession to stay current on those changes as they occurred for the last quarter century)... and this portion was regularly messed up by the DNC.

Take your cue from MSNBC if you'd prefer, but I know the timeline better than the average TV talking head... it was not their job to impart the related changes daily to colleagues and subordinates, or to explain it to the public. It was mine. The guy with a Finance degree who was VP of one of the largest RE franchises in the US kinda got leaned on to handle a disproportionate amount of the finance related training, and that was my job within less than 2 yrs of exiting college. I was having to hand draw graphs to teach ARMs before the IBM PC took hold and Lotus 1-2-3 gave me a better way to teach it. Journalism isnt my area of experience. This IS.

You're unwilling to accept that I am correct that the portion associated with mortgages was driven by DNC politics, but it is the case whether you agree or not.

Attribute it to partisanship if you wish, but you have it backwards. I dont piss on the DNCs handling of mortgage economics because I'm a Republican... I'm a Republican because during my career I've watched the DNC piss on mortgage economics.The partisanship is attributable to watching them methodically fuck up this portion of our economy up every time they get their fingerprints on it. You have cause and effect reversed.

 

I wont take your word for it because you have shown an extreme bias to the point of not caring if you lie or not to try to sway people that you are correct.

Expert after expert appears to disagree with you. What you've done is nothing more than post links to articles that the right wings themselves are trumping up, even Homebiz could do that.

BTW I get my news from more than 'MSNBC'

 

LOL, Gee, which gave me away...

• the archived stories in "The New York Times" (that bastion of conservative thought) Link1, Link2,
• the archived story in the "Wall Street Journal" reporting what happened at the time of the event? Link3
• the links to the Library of Congress site showing actual voting records? Link4
• quotes from the floor of the Senate? Link5

I havent supplied "evidence" from Rush Limbaugh, I've offered quotes from the floor of the Senate, voting records as recorded by the government, and news reports from the time of the events.

Kindly dont mischaracterize the evidence provided. That is just silly. Tell us if the links above show a preponderance of "trumped up" evidence, and which are not factual.

 

http://www.youtube.com/watch?v=r2RZ0sUcVcE

You are right

 

It does appear that the democrats shit all over any attempt to reform fannie and freddie. But what bothers me is the republicans are trying to make fannie and freddie seem like the core cause of the problem. This is like blaming the drug problem only on the demand side and ignoring the dealers(the people who actually made the loans and then sold them to fannie and freddie). There's also like a million other factors that led to this crisis. I've heard this crisis described as a "perfect storm". Fannie and Freddie just contributed to the crisis, which is not at all the impression you get from the vid/ad homebiz posted, for example.

 

Here is a video of them trying to block more regulation on Freddie and Fannie.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

I think Fannie and Freedie where large contributors from the financial standpoint from 2005-2007 they were the largest buyers of subprime debt, which brought more money back into the system. Had there not been a buyer for subprime and alt - A debt the mortgage companies would of reduced the number of loans that they made in those groups.

 

None of these change the fact that bush started this mortgage crisis. You are trying to say what happened before or after he broke the system had something to do with it. BS. I can see bush saying how he wants to destroy the barriers and he names these barriers and these are the exact things that have destroyed the mortgage industry. There is no way to change history. just listen to him. How can anyone shift the blame after seeing him in the video
http://www.youtube.com/watch?v=kNqQx7sjoS8

 

Actually Bradford & Bingley and Northern Rock didn't own US Subprime debt, their issues was that they couldn't get funding from the global financial marketplace. The problem is greater then just Bush and the United States, but your hatred of Bush has blinded you to the situation at hand.

 

it still the effect of Us mortgage
did you watch this video.
http://www.youtube.com/watch?v=kNqQx7sjoS8

no down payment
no fine print
less complicated closing
i lay out a goal i mean it.

 

Haha, Bruce lee's fight scene lead to the mortgage crises.

 

I guess the best way to explain my thought on that is by analogy, and I'll admit up front any analogy is imperfect and serves best as illustration but cant be taken too far.

TITANIC ANALOGY: The role of Fannie/Freddie in the crash
The sinking of the Titanic cost many lives. The event itself was a perfect storm of miscalcuations... overconfidence in the unsinkability of the ship caused them to overlook the danger of high speed in the North Atlantic, emboldened them to leave port with too few lifeboats, pride caused people to encourage the captain to ignore caution and allowed him to succumb to it, the poor steel of the time caused the gash in the side to be bigger than it should, inferior technology of the day had em using a lookout system that was largely unchanged from the days of Chris Columbus despite increases in speed of travel, the design of the watertight compartments insured tipping in some instances, and the rudder was undersized so they couldnt change course fast enough. No single cause.

Imagine if one party placed the iceberg there... fought off multiple attempts to remove it, claimed it didnt pose a danger, and fought to keep the boat pointed at it.

Not a perfect analogy, and frankly it understates the importance of Fannie Mae and Freddie Mac in the fiasco. The iceberg didnt pay off the guys at the wheel.