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Old April 12th, 2017, 10:28 AM   #51
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You are pretty close to going the way of Daws77 won't put you on ignore, but will ignore you, you broken record.
My heart is broken I tell you, absolutely broken.
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Old April 12th, 2017, 10:32 AM   #52
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Source=Credibility/Lack of Credibility.
Should I type slower or perhaps in BOLD so you can understand that very tough concept?? AND that wasn't my entire argument so obviously you have comprehension issues. We'll keep working on that, K??
According to the US National Bureau of Economic Research (the official arbiter of US recessions) the recession began in December 2007 and ended in June 2009, thus extending over 19 months. Obama was sworn in...when? January 20, 2009. But your argument is that because attorney/senator Obama was ONE of the plantiffs who brought a class action suit against ONE BANK, the world wide recession was his fault. Yes yes. I can see how that makes sense to anyone who considers Gateway Pundit a credible news source.
Now, about your punching people in the face because they disagree with your goofy political positions......? How about some anger management counseling?
No but it was your first point so I destroyed your premise, and then took to taking apart the rest of your liberal hack post. I know when it started, the housing crisis is what made it so bad dems own that no matter how you try to change History. His one suit, yes other banks knuckled under before it got that far, so it had it's effect. I would never punch a lady, guess you better duck.
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Old April 12th, 2017, 11:07 AM   #53
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Coke the magnificent approves this message!

Are you 2nd from the left at the bottom of that picture?
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Old April 12th, 2017, 11:33 AM   #54
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No but it was your first point so I destroyed your premise, and then took to taking apart the rest of your liberal hack post. I know when it started, the housing crisis is what made it so bad dems own that no matter how you try to change History. His one suit, yes other banks knuckled under before it got that far, so it had it's effect. I would never punch a lady, guess you better duck.
Moron speak for "I don't know what I'm talking about"
Seriously, you are blaming a recession brought on by huge losses in credit default swaps, on a fair housing suit brought years before.
The only thing you are destroying is your reputation.
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Old April 12th, 2017, 11:46 AM   #55
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Originally Posted by Sensible View Post
No but it was your first point so I destroyed your premise, and then took to taking apart the rest of your liberal hack post. I know when it started, the housing crisis is what made it so bad dems own that no matter how you try to change History. His one suit, yes other banks knuckled under before it got that far, so it had it's effect. I would never punch a lady, guess you better duck.
The Obama red line lawsuit had a big impact. I believe every person in the lawsuit had their homes foreclosed soon after they won.
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Old April 12th, 2017, 05:52 PM   #56
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Someone, in a fit of trolling, is too ignorant to recognize that I responded to a Reagan post.

*shrugalicious*
I just spoke to "someone", he said to tell you he doesn't give a fuck. *shrug*
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Old April 12th, 2017, 06:07 PM   #57
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Originally Posted by goober View Post
You really don't have a clue, do you?

Wealth distribution is what an economic system does, whether that system is Laissez-Faire Capitalism, Mercantilism, Communism or Socialism or something in between.

When wealth becomes too concentrated, the system breaks.
I don't know if you are being intentionally disingenuous or not. I am going to guess that you are as you are constantly making claims of comprehending basic economics.


Quote:

Redistribution of income and redistribution of wealth are respectively the transfer of income and of wealth (including physical property) from some individuals to others by means of a social mechanism such as taxation, charity, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law.[1] The term typically refers to redistribution on an economy-wide basis rather than between selected individuals, and it always refers to redistributions from those who have more to those who have less.
https://en.m.wikipedia.org/wiki/Redi...ome_and_wealth
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Old April 12th, 2017, 07:15 PM   #58
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The Obama red line lawsuit had a big impact. I believe every person in the lawsuit had their homes foreclosed soon after they won.
Oh Jesus H tap dancing Christ !!!! NOT THIS SHIT AGAIN !!!! The redline law suit had NOTHING, NADDA, ZIP, ZILCH to do with the housing market melt down.

I SAW redlining first hand. Buying my first house, went to mortgage broker, they did the preliminary credit check and said ok looks like we can get you financed. However, before we got started on the paperwork, they ask me and wife to step into next room. Big map on the wall. They had me show them on the map where the house was. THEN they rolled down a sheet of clear plastic that had (quite literally) red lines drawn around certain neighborhoods. It DID NOT MATTER how good your credit was. It did not matter how qualified you were to buy a home. If the house you wanted fell into one of those areas inside the red lines, YOU DID NOT GET FINANCED !!! Period, end of story.

The REAL CULPRIT in the housing melt down was CITIBANK !!!! They merged with Travelers Insurance in 1994 putting them in direct violation of Glass Steagal. SO they did what every corporation does. They bought errr I mean lobbied congress and the result was the Banking Modernization Act of 1999. Passed my a REPUBLICAN congress and signed by Clinton.

This act almost totally deregulated the banking, insurance, investment and mortgage industries. The biggest problem was that it allowed for those making initial home loans to be completely divorced and removed from those that would ultimately need to collect those loans. Mortgage brokers DID NOT CARE if you were qualified for a loan or not, because THEY WOULD NEVER COLLECT a single payment.

95% of the loans that went into default did so in their 3rd or 4th year. Meaning the OLDEST loans that started defaulting in 2007 were written in 2003. Nearly all of them were adjustable rate loans, even though 60% of the people paying those loans actually qualified for fixed rate mortgages. They were never told they qualified.

The banks did this to themselves.

For a good look at what happened watch the movie The Big Short If the investment banks, mortgage lenders and rating agencies are even half, hell one quarter, as arrogant, willfully bind and down right stupid as they are portrayed. THEY DID THIS TO THEMSELVES.

And as I have said in other threads I was in a meeting in 2015 and what wee they talking about ?? What was the "NEXT BIG THING", the "NEXT BIG MONEY MAKER" ????????

SUB FUCKING PRIME CAR LOANS !!!!!!!!!!!!! These arrogant mother fuckers HAVE NOT LEARNED THEIR LESSON !!!

Anybody that thinks Carter, Clinton the CRA or the redlining lawsuit had anything more than a very marginal effect on the housing market and subsequent crash is completely delusional or in total denial.
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Old April 12th, 2017, 07:31 PM   #59
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Originally Posted by BubbaJones View Post
Oh Jesus H tap dancing Christ !!!! NOT THIS SHIT AGAIN !!!! The redline law suit had NOTHING, NADDA, ZIP, ZILCH to do with the housing market melt down.

I SAW redlining first hand. Buying my first house, went to mortgage broker, they did the preliminary credit check and said ok looks like we can get you financed. However, before we got started on the paperwork, they ask me and wife to step into next room. Big map on the wall. They had me show them on the map where the house was. THEN they rolled down a sheet of clear plastic that had (quite literally) red lines drawn around certain neighborhoods. It DID NOT MATTER how good your credit was. It did not matter how qualified you were to buy a home. If the house you wanted fell into one of those areas inside the red lines, YOU DID NOT GET FINANCED !!! Period, end of story.

The REAL CULPRIT in the housing melt down was CITIBANK !!!! They merged with Travelers Insurance in 1994 putting them in direct violation of Glass Steagal. SO they did what every corporation does. They bought errr I mean lobbied congress and the result was the Banking Modernization Act of 1999. Passed my a REPUBLICAN congress and signed by Clinton.

This act almost totally deregulated the banking, insurance, investment and mortgage industries. The biggest problem was that it allowed for those making initial home loans to be completely divorced and removed from those that would ultimately need to collect those loans. Mortgage brokers DID NOT CARE if you were qualified for a loan or not, because THEY WOULD NEVER COLLECT a single payment.

95% of the loans that went into default did so in their 3rd or 4th year. Meaning the OLDEST loans that started defaulting in 2007 were written in 2003. Nearly all of them were adjustable rate loans, even though 60% of the people paying those loans actually qualified for fixed rate mortgages. They were never told they qualified.

The banks did this to themselves.

For a good look at what happened watch the movie The Big Short If the investment banks, mortgage lenders and rating agencies are even half, hell one quarter, as arrogant, willfully bind and down right stupid as they are portrayed. THEY DID THIS TO THEMSELVES.

And as I have said in other threads I was in a meeting in 2015 and what wee they talking about ?? What was the "NEXT BIG THING", the "NEXT BIG MONEY MAKER" ????????

SUB FUCKING PRIME CAR LOANS !!!!!!!!!!!!! These arrogant mother fuckers HAVE NOT LEARNED THEIR LESSON !!!

Anybody that thinks Carter, Clinton the CRA or the redlining lawsuit had anything more than a very marginal effect on the housing market and subsequent crash is completely delusional or in total denial.
Obama's red line lawsuit against Citibank forced banks to make sub-prime loans. Sub-prime loans was the problem.
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Old April 12th, 2017, 07:39 PM   #60
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Originally Posted by Sabcat View Post
I don't know if you are being intentionally disingenuous or not. I am going to guess that you are as you are constantly making claims of comprehending basic economics.




https://en.m.wikipedia.org/wiki/Redi...ome_and_wealth
Where did I use word "redistribution"?

Read what I wrote, and explain what you think is wrong with it.
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