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Old April 12th, 2017, 07:42 PM   #61
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Obama's red line lawsuit against Citibank forced banks to make sub-prime loans. Sub-prime loans was the problem.
Nobody forced the banks to make subprime loans.
The banks made subprime loans based on their desire to make large profits.

The economic collapse was a failure of an under regulated market system.

What collapsed the economy was credit default swaps.
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Old April 12th, 2017, 07:44 PM   #62
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Nobody forced the banks to make subprime loans.
The banks made subprime loans based on their desire to make large profits.

The economic collapse was a failure of an under regulated market system.

What collapsed the economy was credit default swaps.
Obama forced the banks to make sub-prime loans.
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Old April 12th, 2017, 07:54 PM   #63
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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.


You destroyed my premise......teeeeheeee......

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Old April 12th, 2017, 08:19 PM   #64
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Obama forced the banks to make sub-prime loans.
Just keep repeating the lie Jimmy, like your butt buddy Bush said, "you have to keep repeating things to catapult the propaganda".

The banks KNOWINGLY AND WILLINGLY made bad loans to unqualified people. NO ONE FORCED THEM.

Hey did this because A)T he fees on a subprime were 2 and 3 times hirer than a traditional fixed rate. B) They KNEW they would never collect more than 3 payments, because by then they would have sold the loan to someone else, and C) They assumed they would be covered by Fannie or Freddie.

In addition to this madness, even as the toxicity of those bundled loans was becoming increasingly apparent, the ratings agencies, fearing the loss of business from the investment banks offering the MBS kept giving even the most toxic piles of loans triple A ratings.

No sir. While there may have been a few other contributing factors, THE SINGLE BIGGEST factor was the unmitigated, unbridled (not to mention newly unregulated) GREED of the investment banks and mortgage lenders.

60% of those that defaulted were QUALIFIED for conventional fixed rate mortgages. Even as rates were falling nearly all of the companies holding those mortgages RAISED the interest rates attempting to force people into a refi. Had those that qualified been sold conventional fixed rate mortgages we would have never had a housing crash, or it would have been far less damaging to the economy. The Bankers did this to themselves.
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Old April 12th, 2017, 08:30 PM   #65
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Where did I use word "redistribution"?

Read what I wrote, and explain what you think is wrong with it.
You are correct. I mis typed in my post. I ment to write "redistribution of wealth" and that was the meaning I intended. There was nothing wrong w/ your post. I thought you were being coy w/ your response.

My fault.
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Old April 12th, 2017, 08:34 PM   #66
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Originally Posted by BubbaJones View Post
Just keep repeating the lie Jimmy, like your butt buddy Bush said, "you have to keep repeating things to catapult the propaganda".

The banks KNOWINGLY AND WILLINGLY made bad loans to unqualified people. NO ONE FORCED THEM.

Hey did this because A)T he fees on a subprime were 2 and 3 times hirer than a traditional fixed rate. They KNEW they would never collect more than 3 payments, because by then they would have sold the loan to someone else, and C) They assumed they would be covered by Fannie or Freddie.

In addition to this madness, even as the toxicity of those bundled loans was becoming increasingly apparent, the ratings agencies, fearing the loss of business from the investment banks offering the MBS kept giving even the most toxic piles of loans triple A ratings.

No sir. While there may have been a few other contributing factors, THE SINGLE BIGGEST factor was the unmitigated, unbridled (not to mention newly unregulated) GREED of the investment banks and mortgage lenders.

60% of those that defaulted were QUALIFIED for conventional fixed rate mortgages. Even as rates were falling nearly all of the companies holding those mortgages RAISED the interest rates attempting to force people into a refi. Had those that qualified been sold conventional fixed rate mortgages we would have never had a housing crash, or it would have been far less damaging to the economy. The Bankers did this to themselves.
Propaganda is ignoring that Obama's suit against Citibank forced them to make sub-prime loans.

The biggest factor is legislating people into something they have not earned.
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Old April 13th, 2017, 03:19 AM   #67
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You destroyed my premise......teeeeheeee......

Always do, and this proves it, you have nothing left you have run the gauntlet of leftist tactics, have a nice day!

Meanwhile the left continues to lie about being for anything but their own power.
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Old April 13th, 2017, 03:21 AM   #68
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Originally Posted by BubbaJones View Post
Just keep repeating the lie Jimmy, like your butt buddy Bush said, "you have to keep repeating things to catapult the propaganda".

The banks KNOWINGLY AND WILLINGLY made bad loans to unqualified people. NO ONE FORCED THEM.

Hey did this because A)T he fees on a subprime were 2 and 3 times hirer than a traditional fixed rate. They KNEW they would never collect more than 3 payments, because by then they would have sold the loan to someone else, and C) They assumed they would be covered by Fannie or Freddie.

In addition to this madness, even as the toxicity of those bundled loans was becoming increasingly apparent, the ratings agencies, fearing the loss of business from the investment banks offering the MBS kept giving even the most toxic piles of loans triple A ratings.

No sir. While there may have been a few other contributing factors, THE SINGLE BIGGEST factor was the unmitigated, unbridled (not to mention newly unregulated) GREED of the investment banks and mortgage lenders.

60% of those that defaulted were QUALIFIED for conventional fixed rate mortgages. Even as rates were falling nearly all of the companies holding those mortgages RAISED the interest rates attempting to force people into a refi. Had those that qualified been sold conventional fixed rate mortgages we would have never had a housing crash, or it would have been far less damaging to the economy. The Bankers did this to themselves.
Who was it that testified that Fannie and Freddie were fine, just wondering ?
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Old April 13th, 2017, 03:47 AM   #69
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Every lower quintile improved significantly under Reagan as the middle and lower quintile's portion of tax revenue decreased as the portion of tax revenue paid by the rich increased significantly.
Those may be factoids, things which may be true, but don't mean what you think they mean.
The economy did expand under Reagan, but the huge stimulus spending under Reagan, sufficient to triple the national debt, explains the expansion.
The fact is that the concentration of wealth has increased since Reagan introduced his tax policy. And that policy is what has sapped the vitality from the middle class, and what continues to this day to further concentrate wealth in the hands of the few.

The reason the wealthy pay a greater portion of taxes now than they did before Reagan, is that the middle class income has barely budged since Reagan, but the wealth and income of the top 0.1% has increased tenfold.
So even at the lower rates, the tax bill is greater.

What's happened is that the disposable wealth of the middle class has been reduced, which has stunted economic growth.
We are already at the point where the distribution of wealth is creating great discontent, and working to destroy the society, Trump is a symptom of that.

Last edited by goober; April 13th, 2017 at 03:50 AM.
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Old April 13th, 2017, 03:53 AM   #70
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Originally Posted by goober View Post
Those may be factoids, things which may be true, but don't mean what you think they mean.
The economy did expand under Reagan, but the huge stimulus spending under Reagan, sufficient to triple the national debt, explains the expansion.
The fact is that the concentration of wealth has increased since Reagan introduced his tax policy. And that policy is what has sapped the vitality from the middle class, and what continues to this day to further concentrate wealth in the hands of the few.

The reason the wealthy pay a greater portion of taxes now than they did before Reagan, is that the middle class income has barely budged since Reagan, but the wealth and income of the top 0.1% has increased tenfold.
So even at the lower rates, the tax bill is greater.

What's happened is that the disposable wealth of the middle class has been reduced, which has stunted economic growth.
We are already at the point where the distribution of wealth is creating great discontent, and working to destroy the society, Trump is a symptom of that.
I stoppped reading at tripling the debt.
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