Did you see the part of the graph where higher debt leveled off in '98 and stayed there 2 years?
Joel Send a noteboard - 23/12/2012 04:13:01 AM
Libs and Dems fought like rabid dogs to prevent such an analysis, but they knew. Why do you think the Dems in Congress at the time of the crisis killed the attempt to formally investigate why things happened? They knew.
CRA/Clinton/Freddie & Fannie.....all have financial blood on their hands.
Yes, the banks shouldn't have leveraged to ridiculous heights, Greenspan should have recoginized what was going on and tightened monetary policy, and regular folks shouldn't have been so stupid to take out these dangerous loans, but let's all remember one simple fact, the match that lit the fire was mortgage defaults. And that's what CRA caused.
CRA/Clinton/Freddie & Fannie.....all have financial blood on their hands.
Yes, the banks shouldn't have leveraged to ridiculous heights, Greenspan should have recoginized what was going on and tightened monetary policy, and regular folks shouldn't have been so stupid to take out these dangerous loans, but let's all remember one simple fact, the match that lit the fire was mortgage defaults. And that's what CRA caused.
Then skyrocketed in 2000 and kept going until it was SIX TIMES higher in 2005?
Honorbound and honored to be Bonded to Mahtaliel Sedai
Last First in wotmania Chat
Slightly better than chocolate.
Love still can't be coerced.
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LoL. Be well, RAFOlk.
Last First in wotmania Chat
Slightly better than chocolate.
Love still can't be coerced.
Please Don't Eat the Newbies!
LoL. Be well, RAFOlk.
Community Reinvestment Act formally linked to the Sub-Prime/Mortgage Crisis - 
- 22/12/2012 09:01:56 PM
353 Views
- 22/12/2012 09:01:56 PM
353 Views
Did you see the part of the graph where higher debt leveled off in '98 and stayed there 2 years?
- 23/12/2012 04:13:01 AM
251 Views
Oh yeah, one of Bill Clinton's last acts as President
- 23/12/2012 02:47:23 PM
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... was signing a bill authored by three Republicans and passed with only ONE Dem Senators vote.
- 23/12/2012 11:37:10 PM
266 Views
Nice try - the repeal was all Clinton and Rubin.....buck stops with the leader.
- 24/12/2012 03:44:53 AM
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So the three Republicans who WROTE the bill are blameless; the guy who signed it is at fault.
- 24/12/2012 05:33:21 AM
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"Before you laugh too hard".....
- 24/12/2012 11:32:45 PM
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Also, did you just paraphrase Bill Clintons argument for Robamacare?! 
- 25/12/2012 03:36:37 AM
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- 25/12/2012 03:36:37 AM
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I've been trying to explain this to people for years.
- 26/12/2012 02:54:04 PM
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You and most of the GOP, but the facts do not support that narrative.
- 26/12/2012 05:54:28 PM
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Glass-Stegal was not repealed in a vacuum. There were many other regulatory changes
- 26/12/2012 07:40:45 PM
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I know the narrative; the facts still do not support it.
- 26/12/2012 08:43:25 PM
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Only when you ignore half of them.
- 27/12/2012 03:33:53 PM
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The entire "logic" ignores the most salient fact in the whole discussion.
- 28/12/2012 02:34:12 PM
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Your focus on that bill is the error.
- 28/12/2012 04:47:03 PM
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Any stats showing a disproportionate number of Fannie/Freddie defaults were by minorities?
- 28/12/2012 05:50:01 PM
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It has got NOTHING to do with skin color, the only color that should matter in banking is green.
- 28/12/2012 09:36:34 PM
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It should not, no, but the GOP dog whistles demonstrate it does.
- 28/12/2012 10:49:34 PM
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Get over YOUR perception that I give a damn about anyone's genetic background. I don't.
- 29/12/2012 04:18:22 PM
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Your incredible knowledge on this would fill a thimble. There were MULTIPLE issues>
- 28/12/2012 09:50:17 PM
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I love that part, too: "What Carter did in the '70s caused the subprime mortgage crisis in 2005."
- 28/12/2012 10:32:17 PM
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The policy began in the 70s, was MASIVELY expanded in the 90s, and blew up in the 00s.
- 29/12/2012 04:43:26 PM
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CRA was a disaster for the nation.....go ahead, you can admit it.
- 26/12/2012 08:32:33 PM
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The facts are in the graph in the article, and do not support that narrative.
- 26/12/2012 08:44:23 PM
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The facts support it perfectly. You vs. reality is the problem here. *NM*
- 26/12/2012 09:51:45 PM
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It is a pure causation line, get over it.
- 27/12/2012 03:35:19 PM
136 Views
Our Second Amendment discussions disqualify you as an authority on causality.
- 28/12/2012 02:58:04 PM
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I couldn't care less about party they both screwed up repeatedly.
- 28/12/2012 04:50:25 PM
112 Views
Then why do you insist on blaming Barney Frank exclusively?
- 28/12/2012 05:54:48 PM
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Because he is the person most responsible for forcing banks to lower lending standards. *NM*
- 28/12/2012 06:49:28 PM
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No he is not. It began in the 90s, well before he became chairman of the house commitee. *NM*
- 28/12/2012 09:57:02 PM
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Right, a guy who was only part of the House majority for two years did it all.
- 28/12/2012 11:03:08 PM
229 Views
I blame Barny for the under colateralization of F&F that he allowed and blocking the audit.
- 28/12/2012 09:54:27 PM
116 Views
Even were the charge valid (it is not,) if you believe it the crisis' main cause naught can help you
- 28/12/2012 11:00:14 PM
129 Views
The debate on comparative financial policies of the parties belongs elsewhere. lets keep on point.
- 29/12/2012 04:15:13 PM
129 Views