More over the top Union greed

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camaroman
camaroman's picture
If any one had read the

If any one had read the Pressman article, it pointed out that the vast majority of subprime loans were not originated by banks but rarher by mortgage sevice companies and affilliates of banks and thrifts some 50% and 30% respectively and were not subject to supervision or regulation.

Bush_Wacker
Bush_Wacker's picture
Art wrote: Quote:Redlining

Art wrote:

Quote:
Redlining was the equivalent of drawing a red line around areas that banks didn't loan to based on race and or lower income demographics.  That was a common "standard" amongst banks that was being addressed by the CRA .  They were forced to quit doing that which meant lowering the bank's "standards" for making loans.
Is that what you meant when you wrote:
Quote:
it started with bill clinton forcong banks to loan money to people that could not afford the loan.
???????

Is that really what you meant to say? Did you translate this from a different language? How did you do on your SAT verbal?

Whoa! I guess I'm responding to two different people here. I'm not sure who is contending what.

LOL, you are responding to two different people here.  The second quote you captured is not mine.  :)

workingman
workingman's picture
Yes he is And he brought up

Yes he is And he brought up the subprime housing mess when he said the repubs caused it but the policies can be traced back to carter before clinton expanded it, bush expanded it but i am willing to bet that congress was controled by the dems under pelosie And friends.

Art
Art's picture
Quote: but the policies can

Quote:
 but the policies can be traced back to carter before clinton expanded it,
But, you have yet to dmonstrate how the CRA was in any way responsible for the sub-prime mortgage mess. I asked you to show us some language from President Clinton or in the CRA that forced anybody to grant loans to unqualified borrowers. Have you looked into that? How did that work? I eagerly await.

Ulysses
Ulysses's picture
workingman]</p> <p>[quote

workingman]</p> <p>[quote wrote:
Trying to insult me just proves you have nothing constructive to say and have no idea how to spin this to make yourself not look like you are thsnkful breathing is involuntary.

Constructive and intelligent remarks are reserved for people who make constructive, intelligent, and TRUTHFUL arguments.  You do none of the above; besides, per what you say and the way you say it, you've neglected to school yourself on the issues, whether willfully or because you're dumber than a doorknob.  I don't know which and I don't care, but I refuse to argue straight-up with fools.

workingman
workingman's picture
Ulysses]</p> <p>[quote=workin

Ulysses]</p> <p>[quote=workingman wrote:

Quote:
Trying to insult me just proves you have nothing constructive to say and have no idea how to spin this to make yourself not look like you are thsnkful breathing is involuntary.

Constructive and intelligent remarks are reserved for people who make constructive, intelligent, and TRUTHFUL arguments.  You do none of the above; besides, per what you say and the way you say it, you've neglected to school yourself on the issues, whether willfully or because you're dumber than a doorknob.  I don't know which and I don't care, but I refuse to argue straight-up with fools.

So you are going to stop fighting with yourself. Because everything i have posted is truthful constructive And inteligent it is just not the pshyco babble you believe.

Ulysses
Ulysses's picture
workingman]</p> <p>[quote=Uly

workingman]</p> <p>[quote=Ulysses]</p> <p>[quote=workingman wrote:

Quote:
Ok go try to join a union were I live they have so many people on the books they are no longer allowing new joins. Do the union dues you pay in go to politican campaigns or to the union member as pay while laid off.

1)  Before Union dues are used for political contributions, the members must agree to do so.

2)  What you get when you're laid off, genius, is called UNEMPLOYMENT COMPENSATION, if, that is, you were working a real job and not some under-the-table, low-paid, cash deal for Midnight Auto Parts or Joe and Phil Cholesterol's Burger Shack.  Unemployment compensation is what your anti-Union, Republican friends in the current Congress just decided, by majority, party-line vote, to reduce for "Working Men's Heroes" like youself. 

Gawd, you're stupid.

And, of course, you have no comment on the Republicans trashing unemployment, do you, because that's OK, seeing as how you like them and they did it.  All of you right-wing fools love saying Thanks to them while they're screwing you over.

Quote:
You must not understand english.

I understand it fine, unless some half-literate clown like you mangles it.

Quote:
Instead of using dues for political campaigns asked or not they should use those hundreds of millions of dollars to supplement the unemployment compensation they get.from the state.

That's your opinion, and opinions are like assholes; everybody's got one.  IT'S UP TO THE MEMBERS OF INDIVIDUAL UNIONS TO DECIDE, BY VOTE, HOW THEIR DUES MONEY IS USED BY THEIR UNION OFFICERS, REGARDLESS OF YOUR OPINION, DIPSHIT!  IT'S THEIR MONEY, NOT YOURS!

Quote:
Because unions are supposed to protect each other. Go back to concentrating on breathing.

Go back to diddling your own brain.  I know people like you can't help themselves, but you really should be quiet and stay inside. 

camaroman
camaroman's picture
AS Pressman stated in his

AS Pressman stated in his article, the CRA was not resposible for the subprime crisis. GREED was. As was lack of or non-existant oversight.

Fresh off the false and politicized attack on Fannie Mae and Freddie Mac, today we’re hearing the know-nothings blame the subprime crisis on the Community Reinvestment Act — a 30-year-old law that was actually weakened by the Bush administration just as the worst lending wave began. This is even more ridiculous than blaming Freddie and Fannie.

Ulysses
Ulysses's picture
workingman]</p> <p>[quote=Uly

workingman]</p> <p>[quote=Ulysses wrote:

workingman wrote:

Quote:
Ok go try to join a union were I live they have so many people on the books they are no longer allowing new joins. Do the union dues you pay in go to politican campaigns or to the union member as pay while laid off.

Crap on its face.  All Unions, everywhere, are always happy to get new members and are thankful for them.  What this idiot may mean is that whichever Union he's trying to deal with told him they can't automatically get him into an apprenticeship program or get him a job if he joins.  If that's the case, so what?  The employers have to hire, not the Unions.  The Unions don't hire people, except for Union staffs.  What they do in cases where they dispatch to jobs for employers is to send out Union workers in order of seniority.  In jobs where the Unions don't dispatch, they have no control over whether or not any given employer is hiring.  All they can do is inform Union members of jobs that exist at any given time, IF the employer chooses to call the Union hall and tell them that there's a vacancy.  Still, anybody is welcome to actually join any Union, and it's a distortion to say that a Union turns down members or "doesn't hire them."  

If Bush and his gang hadn't destroyed the economy, there'd be more jobs period, Union and non-Union.   

If EVERYBODY, EVERYWHERE, was working in Unionized industries, under Union contracts, they'd have better benefits, working conditions and make more money.  U.S. Department of Labor statistics, even under Republican presidents and Republican Congresses, show that the average Union worker in any given job makes 33% - 40% more money over the course of a career than a non-Union worker in the same job/career.

I know that you have to be accepted into the apprenticeship program but that does not explain away the sign at the union hall that says not accepting new members at this time. The trsining center is next door to the union hall two different buildings the training center has a sign that says apps can be put in on the first tuesday of each month.

So go ask them why somebody innocently forgot to coordinate the signs, or are you too stupid to figure that one out on your own?

Ulysses
Ulysses's picture
Art wrote: Quote:forcong

Art wrote:

Quote:
forcong banks to loan money to people that could not afford the loan.
Another talking point that has always proven in error. You are unable to demonstrate any law, regulation, directive, executive order or  subordinate directive requiring any bank employee to grant any loan of any kind to anybody.
Quote:
Instead of using dues for political campaigns asked or not they should use those hundreds of millions of dollars to supplement the unemployment compensation they get.from the state. Because unions are supposed to protect each other.
Perhaps you should submit your suggestion as to how Unions should operate to some labor Unions. The members and leaders of these Unions might find your idea intriguing. as Ulysses pointed out, people who get laid off are entitled to Unemploymetn insurance. I don't think Unions have maintined strike fund for decades. 

Some do maintain strike funds, but those monies are paid out to Union members who are actually on strike; they're not interchangeable with unemployment compensation.  It's an entirely different program.  So, those who are on strike get a strike fund check each payday, until the money runs out.  Those who are not on strike but are laid off from their jobs for no fault of their own are eligible for unemployment compensation, provided they've worked long enough to qualify before the layoff.

Art
Art's picture
Quote:they're not

Quote:
they're not interchangeable with unemployment compensation.  It's an entirely different program.
Quite right. Sloppy thinking on my part.

Ulysses
Ulysses's picture
workingman wrote:The

workingman wrote:
The community reinvestment act forced banks to loan money to low income areas it was expanded by bill clinton and than again by bush resulting in the subprime mortgage mess.

More lies; millions of foreclosures; bankruptcies; and "upside down" mortgages are in middle, upper middle, and upper class areas, far from it being a problem confined to low income areas.  Read the papers sometimes, troll.

Ulysses
Ulysses's picture
Kerry wrote: I have heard

Kerry wrote:

I have heard that loan officers in some of these banks were compelled to make loans that they, personally, understood the recipients not being able to pay back but those loan officers were told that 'It was policy--either do it or lose your job.'    Now, like I suspect many 'policies' are in big institutions, it will be hard to trace that back to the 'real source'.   But, I do remember that the big institutions 'blamed government' for it....a simlar action is going on right now in hospitals....

"I have heard..." = Hearsay.

Ulysses
Ulysses's picture
workingman]</p> <p>[quote=Uly

workingman]</p> <p>[quote=Ulysses wrote:

workingman wrote:

Quote:
Trying to insult me just proves you have nothing constructive to say and have no idea how to spin this to make yourself not look like you are thsnkful breathing is involuntary.

Constructive and intelligent remarks are reserved for people who make constructive, intelligent, and TRUTHFUL arguments.  You do none of the above; besides, per what you say and the way you say it, you've neglected to school yourself on the issues, whether willfully or because you're dumber than a doorknob.  I don't know which and I don't care, but I refuse to argue straight-up with fools.

So you are going to stop fighting with yourself. Because everything i have posted is truthful constructive And inteligent it is just not the pshyco babble you believe.

Well, "inteligent" is as "inteligent" does...

lovecraft
That's the biggest load of

That's the biggest load of Koch Brothers "If you say it enough times it becomes true" misinformation. The CRA started in the 70's-why did it force any banks to make loans suddenly after 30 years? The banks loved making subprime loans since the game had changed and they would no longer keep them. They would collect their handsome fees and immediately securitize them and pawn them off on some sucker. They could care less if they the loans were ever paid off. The vast majority of subprime loans were made by non banks who weren't covered by the CRA. 85% of the loans were re-fi's. Banks only blame CRA when its CYA time. Some people should occasionally change the channel from Fox and Rush.

Art
Art's picture
Lovecraft, I owe you a huge

Lovecraft, I owe you a huge apology for my accusation. No excuse.

workingman
workingman's picture
Ulysses]</p> <p>[quote=workin

Ulysses]</p> <p>[quote=workingman wrote:

Ulysses wrote:

workingman wrote:

Quote:
Trying to insult me just proves you have nothing constructive to say and have no idea how to spin this to make yourself not look like you are thsnkful breathing is involuntary.

Constructive and intelligent remarks are reserved for people who make constructive, intelligent, and TRUTHFUL arguments.  You do none of the above; besides, per what you say and the way you say it, you've neglected to school yourself on the issues, whether willfully or because you're dumber than a doorknob.  I don't know which and I don't care, but I refuse to argue straight-up with fools.

So you are going to stop fighting with yourself. Because everything i have posted is truthful constructive And inteligent it is just not the pshyco babble you believe.

Well, "inteligent" is as "inteligent" does...

Like i keep telling you i post this stuff from my phone. not a word processor some times you get typos but that might be to complicated for some of you.

workingman
workingman's picture
lovecraft wrote: That's the

lovecraft wrote:

That's the biggest load of Koch Brothers "If you say it enough times it becomes true" misinformation. The CRA started in the 70's-why did it force any banks to make loans suddenly after 30 years? The banks loved making subprime loans since the game had changed and they would no longer keep them. They would collect their handsome fees and immediately securitize them and pawn them off on some sucker. They could care less if they the loans were ever paid off. The vast majority of subprime loans were made by non banks who weren't covered by the CRA. 85% of the loans were re-fi's. Banks only blame CRA when its CYA time. Some people should occasionally change the channel from Fox and Rush.

Its like this the federal government under the democrats were trying to make their program look good it had failed.  the put this program in place in the 1977 and until clinton took office there was litteraly no benefit to the people.  So they had to do some thing under bill clinton they forced the banks to loan more money to low income people.  the banks lowered they standards and it helped a littel be we also had some bad loans backed up by fannie mae and freddie mac.  so the banks did not really lose anything by writing these loans when they could just sell them to the feds.  now the dems when bush was president wanted to show that their social programs where working so they pushed this one to loosen it's rules even more. 

yes 85 percent of the loans that went belly up were not made from banks but through mortgage brokers who get their money from the banks and from fannie mae and freddie mac.  so as the program forced the banks to loan more and more money to people that could not afford the loans.  they had to come up with more and more creative ways to meet the federal government guildlines. 

 

posted from phone excuse typos

workingman
workingman's picture
Ulysses wrote: workingman

Ulysses wrote:

workingman wrote:
The community reinvestment act forced banks to loan money to low income areas it was expanded by bill clinton and than again by bush resulting in the subprime mortgage mess.

More lies; millions of foreclosures; bankruptcies; and "upside down" mortgages are in middle, upper middle, and upper class areas, far from it being a problem confined to low income areas.  Read the papers sometimes, troll.

I never said that is was confined to the low-income areas I said it started with the low-income areas.  Middle class and upper middle class people can make bad decisions when it comes to money just like poor people.  My boss bought a house he cannot afford.

does your mother know you are on the computer again?

Bush_Wacker
Bush_Wacker's picture
Sorry Workingman, nobody

Sorry Workingman, nobody forced anyone to make a loan.  They just forced them to stop excluding credit worthy buyers based on ethnicity.  If a banker or mortgage broker didn't want to make a loan to somebody because they didn't like the way they looked then they would just raise the standard for which they made a loan.  If they liked the way you looked then they would loan you money based on their general loan standards.  Regardless, they were not supposed to loan money to anyone who didn't show probable means to pay back the loan.  Please do some research into this so that you can educate yourself on the truth and not simply repeating something you read or heard from a politically motivated entity.

workingman
workingman's picture
Ulysses]</p> <p>[quote=workin

Ulysses]</p> <p>[quote=workingman]</p> <p>[quote=Ulysses wrote:

workingman wrote:

Quote:
Ok go try to join a union were I live they have so many people on the books they are no longer allowing new joins. Do the union dues you pay in go to politican campaigns or to the union member as pay while laid off.

1)  Before Union dues are used for political contributions, the members must agree to do so.

2)  What you get when you're laid off, genius, is called UNEMPLOYMENT COMPENSATION, if, that is, you were working a real job and not some under-the-table, low-paid, cash deal for Midnight Auto Parts or Joe and Phil Cholesterol's Burger Shack.  Unemployment compensation is what your anti-Union, Republican friends in the current Congress just decided, by majority, party-line vote, to reduce for "Working Men's Heroes" like youself. 

Gawd, you're stupid.

And, of course, you have no comment on the Republicans trashing unemployment, do you, because that's OK, seeing as how you like them and they did it.  All of you right-wing fools love saying Thanks to them while they're screwing you over.

Quote:
You must not understand english.

I understand it fine, unless some half-literate clown like you mangles it.

Quote:
Instead of using dues for political campaigns asked or not they should use those hundreds of millions of dollars to supplement the unemployment compensation they get.from the state.

That's your opinion, and opinions are like assholes; everybody's got one.  IT'S UP TO THE MEMBERS OF INDIVIDUAL UNIONS TO DECIDE, BY VOTE, HOW THEIR DUES MONEY IS USED BY THEIR UNION OFFICERS, REGARDLESS OF YOUR OPINION, DIPSHIT!  IT'S THEIR MONEY, NOT YOURS!

Quote:
Because unions are supposed to protect each other. Go back to concentrating on breathing.

Go back to diddling your own brain.  I know people like you can't help themselves, but you really should be quiet and stay inside. 

you are absolutly correct it is not my money and it is not the union members money either once the union confiscates it from their check just like government they can do with it what they please. 

you are a very angry person maybe your mom should put you back on riddlin.  if all as you can do is attack people maybe you should stop coming by and let the adults talk. 

Art
Art's picture
Quote:So they had to do some

Quote:
So they had to do some thing under bill clinton they forced the banks to loan more money to low income people.
Just repeating this fantasy doesn't make it true. Please, please please, can't you produce some documentation showing us how this worked? Teach us all like we are third graders. This is a pretty big allegation. You ought to be able to give us an explanation of how the Government forced anybody to issue loans to unqualified people.

Phaedrus76
Phaedrus76's picture
First of all, the only 3

First of all, the only 3 things the CRA forced anyone to do back under Carter was banks had to have clearly defined lending guidelines, track the data of race and ethnicity of loan applicants, and when they get auditted explain any differences in lending outcomes based on race or ethnicity. Carter never forced one bank to make any loan. 

The other end of it was, banks that could be shown to be intentionally discriminating faced fines and loss of FDIC status.

Secondly, in the late 80's Citibank looked at their loan portfolio, and realized that loans greater than 180,000 were much more profitable than loans less than 150,000. So they changed their guidelines and excluded any loans less than 150,000. Other banks caught on and followed suit. Clinton updated the CRA to disallow the practice. They still can charge different interest rates, and do. 

Ulysses
Ulysses's picture
workingman]</p> <p>[quote

workingman]</p> <p>[quote wrote:
you are absolutly correct it is not my money and it is not the union members money either once the union confiscates it from their check just like government they can do with it what they please.

You're busted again, Canard Breath!  The only way Unions or anybody else can take anything out of somebody's paycheck is if that person signs a dedicated card giving permission for them to do so; they must keep such cards on file or they can be ticketed and fined by the government.  Union members everywhere have the option of paying their dues by check; in person, by cash, at the Union halls (for which they get receipts), and, in some cases, with plastic.   

Quote:
you are a very angry person

Only when confronted by fools such as yourself, who are too ignorant and/or stupid to know that they're ignorant and/or stupid and who revel in their own ignorance and stupidity.

Quote:
maybe your mom should put you back on riddlin.

What is "riddlin?"

Quote:
if all as you can do is attack people maybe you should stop coming by and let the adults talk.

I always do, when they're present. 

 

Ulysses
Ulysses's picture
Ulysses]</p> <p>[quote=workin

Ulysses]</p> <p>[quote=workingman]</p> <p>[quote wrote:
you are absolutly correct it is not my money and it is not the union members money either once the union confiscates it from their check just like government they can do with it what they please.

You're busted again, Canard Breath!  The only way Unions or anybody else can take anything out of somebody's paycheck is if that person signs a dedicated card giving permission for them to do so.  Those doing the deducting must keep such cards on file, subject to random audit by various governmental authorities, or they can be ticketed and fined by those authorities.  Union members everywhere have the option of paying their dues by check; in person, by cash, at the Union halls (for which they get on-the-spot receipts), and, in some cases, with plastic.   

Quote:
you are a very angry person

Only when confronted by fools such as yourself, who are too ignorant and/or stupid to know that they're ignorant and/or stupid and who revel in their own ignorance and stupidity.

Quote:
maybe your mom should put you back on riddlin.

What is "riddlin?"

Quote:
if all as you can do is attack people maybe you should stop coming by and let the adults talk.

I always do, when they're present. 

 

 

Ulysses
Ulysses's picture
workingman wrote: Ulysses

workingman wrote:

Ulysses wrote:

workingman wrote:
The community reinvestment act forced banks to loan money to low income areas it was expanded by bill clinton and than again by bush resulting in the subprime mortgage mess.

More lies; millions of foreclosures; bankruptcies; and "upside down" mortgages are in middle, upper middle, and upper class areas, far from it being a problem confined to low income areas.  Read the papers sometimes, troll.

I never said that is was confined to the low-income areas I said it started with the low-income areas.  Middle class and upper middle class people can make bad decisions when it comes to money just like poor people.  My boss bought a house he cannot afford.

does your mother know you are on the computer again?

If you actually write what you mean and use something called punctuation, you don't get misunderstood.  I got your mother hangin'.

Ulysses
Ulysses's picture
workingman wrote: lovecraft

workingman wrote:

lovecraft wrote:

That's the biggest load of Koch Brothers "If you say it enough times it becomes true" misinformation. The CRA started in the 70's-why did it force any banks to make loans suddenly after 30 years? The banks loved making subprime loans since the game had changed and they would no longer keep them. They would collect their handsome fees and immediately securitize them and pawn them off on some sucker. They could care less if they the loans were ever paid off. The vast majority of subprime loans were made by non banks who weren't covered by the CRA. 85% of the loans were re-fi's. Banks only blame CRA when its CYA time. Some people should occasionally change the channel from Fox and Rush.

Its like this the federal government under the democrats were trying to make their program look good it had failed.  the put this program in place in the 1977 and until clinton took office there was litteraly no benefit to the people.  So they had to do some thing under bill clinton they forced the banks to loan more money to low income people.  the banks lowered they standards and it helped a littel be we also had some bad loans backed up by fannie mae and freddie mac.  so the banks did not really lose anything by writing these loans when they could just sell them to the feds.  now the dems when bush was president wanted to show that their social programs where working so they pushed this one to loosen it's rules even more. 

yes 85 percent of the loans that went belly up were not made from banks but through mortgage brokers who get their money from the banks and from fannie mae and freddie mac.  so as the program forced the banks to loan more and more money to people that could not afford the loans.  they had to come up with more and more creative ways to meet the federal government guildlines. 

 

posted from phone excuse typos

Yeah.  Illiteracy is the phone's fault!  HA, HA, HA, HA, HA, HA, HA, HA, HA, HA HA!!!

Ulysses
Ulysses's picture
workingman]</p> <p>[quote=Uly

workingman]</p> <p>[quote=Ulysses wrote:

workingman wrote:
The community reinvestment act forced banks to loan money to low income areas it was expanded by bill clinton and than again by bush resulting in the subprime mortgage mess.

More lies; millions of foreclosures; bankruptcies; and "upside down" mortgages are in middle, upper middle, and upper class areas, far from it being a problem confined to low income areas.  Read the papers sometimes, troll.

Quote:
I never said that is was confined to the low-income areas I said it started with the low-income areas.

No, you didn't.  What you said is on the record on this board and it's what I quoted above.  If you meant that middle and upper middle class people can make bad decisions too, you should have said so, instead of only mentioning "low-income" areas.  Don't try to squirt out from under what you wrote, like Mitt Romney.  You're busted.  Once you go on record in a place you can't control or edit, you can't escape your own bullshit by claiming you said something other than what you said, pinhead. 

Busted, busted, busted. 

Adios, Dork Boy!

 

lovecraft
I would expect nothing less

I would expect nothing less than the rich paying Congress for lower taxes and more loopholes so they can make more money to fund right wing think tanks and super PACS to buy off Congress so they can get lower taxes.....................

DdC
DdC's picture
The corporate production of

The corporate production of the Teabags are not the same as their Libertarian, GOP or Democrats groupies voting for them. They have no allegiance with the US. They profit on misery. Ready to slash the Band-Aids such as Unions, while continuing the lacerations, cuts and burns on the citizens of America. No one likes to pay taxes for protection for their families or others families.  In Union dues or food-stamps or AFDC, SSI, Medicare or Unemployment. But they are cheaper in the long run and the American way we take care of our own, that is lost with the Neocons. Start investing in workers with living wages and a safe work environment and most of these band aids would go away. Band-Aids should not be permanent attire or a fashion statement. But as long as the G-20 Jack the Rippers keep attacking we the people Unions and other safety nets will be necessary. It's not hard to see if you back away from the TV. Outsourcing, undercutting, busting Unions or gutting budgets all go to less overhead and more profit. Treating misery many times their poisons cause. Slashing the environmental laws only makes us sick, and treating the sickness is just another product to sell for the Neoscum. Same with the cold wars they sell paraphernalia to, including the longest war in our history, the Ganjawar.

Forfeiture $quads

There’s too much money in it

workingman
workingman's picture
Ulysses]</p> <p>[quote=workin

Ulysses]</p> <p>[quote=workingman wrote:

Ulysses wrote:

workingman wrote:
The community reinvestment act forced banks to loan money to low income areas it was expanded by bill clinton and than again by bush resulting in the subprime mortgage mess.

More lies; millions of foreclosures; bankruptcies; and "upside down" mortgages are in middle, upper middle, and upper class areas, far from it being a problem confined to low income areas.  Read the papers sometimes, troll.

Quote:
I never said that is was confined to the low-income areas I said it started with the low-income areas.

No, you didn't.  What you said is on the record on this board and it's what I quoted above.  If you meant that middle and upper middle class people can make bad decisions too, you should have said so, instead of only mentioning "low-income" areas.  Don't try to squirt out from under what you wrote, like Mitt Romney.  You're busted.  Once you go on record in a place you can't control or edit, you can't escape your own bullshit by claiming you said something other than what you said, pinhead. 

Busted, busted, busted. 

Adios, Dork Boy!

 

You jump to conclussions about what you thought i said And thsn insult me cause you made an ass of yourself

workingman
workingman's picture
Ulysses wrote: workingman

Ulysses wrote:

workingman wrote:

lovecraft wrote:

That's the biggest load of Koch Brothers "If you say it enough times it becomes true" misinformation. The CRA started in the 70's-why did it force any banks to make loans suddenly after 30 years? The banks loved making subprime loans since the game had changed and they would no longer keep them. They would collect their handsome fees and immediately securitize them and pawn them off on some sucker. They could care less if they the loans were ever paid off. The vast majority of subprime loans were made by non banks who weren't covered by the CRA. 85% of the loans were re-fi's. Banks only blame CRA when its CYA time. Some people should occasionally change the channel from Fox and Rush.

Its like this the federal government under the democrats were trying to make their program look good it had failed.  the put this program in place in the 1977 and until clinton took office there was litteraly no benefit to the people.  So they had to do some thing under bill clinton they forced the banks to loan more money to low income people.  the banks lowered they standards and it helped a littel be we also had some bad loans backed up by fannie mae and freddie mac.  so the banks did not really lose anything by writing these loans when they could just sell them to the feds.  now the dems when bush was president wanted to show that their social programs where working so they pushed this one to loosen it's rules even more. 

yes 85 percent of the loans that went belly up were not made from banks but through mortgage brokers who get their money from the banks and from fannie mae and freddie mac.  so as the program forced the banks to loan more and more money to people that could not afford the loans.  they had to come up with more and more creative ways to meet the federal government guildlines. 

 

posted from phone excuse typos

Yeah.  Illiteracy is the phone's fault!  HA, HA, HA, HA, HA, HA, HA, HA, HA, HA HA!!!

At least i have a reason for my typos i can not help it you just do not understand how things work in the world. Some one on this board told me to treat it like i am talking to thrid graders they must have ment you.

Art
Art's picture
Quote:Some one on this board

Quote:
Some one on this board told me to treat it like i am talking to thrid graders they must have ment you.
That was me, when I asked you to explain to us like we are third graders how Bill Clinton and the CRA forced the banks to make loans to unqualified borrowers. Do you think you might get around to doing that anytime soon?

Ulysses
Ulysses's picture
workingman wrote: Yeah. 

workingman wrote:

Yeah.  Illiteracy is the phone's fault!  HA, HA, HA, HA, HA, HA, HA, HA, HA, HA HA!!!

[/quote]

Quote:
At least i have a reason for my typos i can not help it you just do not understand how things work in the world. Some one on this board told me to treat it like i am talking to thrid graders they must have ment you.

Hmm.  "Thrid graders."  Let me see now, is "thrid" a cardinal or an ordinal? 

workingman
workingman's picture
Ulysses wrote: workingman

Ulysses wrote:

workingman wrote:

Yeah.  Illiteracy is the phone's fault!  HA, HA, HA, HA, HA, HA, HA, HA, HA, HA HA!!!

Quote:
At least i have a reason for my typos i can not help it you just do not understand how things work in the world. Some one on this board told me to treat it like i am talking to thrid graders they must have ment you.

Hmm.  "Thrid graders."  Let me see now, is "thrid" a cardinal or an ordinal? 

[/quote]

Well i have a couple of typos in my posts. But you attack me over typos, not the content of the post them selves. Which leads me to believe that you either can not or do not understand enough to talk about the posts them selves.

can we get back on topic now or do i have to tell your mother your playing on the computer again. Would have said wife but that would imply you have the nerve to go outside.

rigel1
rigel1's picture
Ulysses wrote: workingman

Ulysses wrote:

workingman wrote:

Yeah.  Illiteracy is the phone's fault!  HA, HA, HA, HA, HA, HA, HA, HA, HA, HA HA!!!

Quote:
At least i have a reason for my typos i can not help it you just do not understand how things work in the world. Some one on this board told me to treat it like i am talking to thrid graders they must have ment you.

Hmm.  "Thrid graders."  Let me see now, is "thrid" a cardinal or an ordinal? 

[/quote]

I'm guessing neither. Possibly a typo? Good catch though.