"Savior" of the GOP Already Lying or Clueless

[Professor]

Gotcha. So, the NYT, Business Week magazine, Forbes and the other articles are not reputable?

The CEO of Fannie specifically said that they were trying to get loans for people whose credit scores were just below their underwriting guidelines. Why were their credit scores too low? Because they were bad investments, of some sort.

As both the regulator of and a player in the housing market, the government was a major contributor to the crisis. If you are the CEO of a company, and the company fails, then you are somewhat at fault. If you are the captain of a ship and it runs aground, you are somewhat at fault. If you are the coach of a football team that loses, then you are somewhat at fault.

The only way that I let the government off the hook is if they are not a participant in the market. If they are just the referees, then I won't blame them when one team loses. But, our government is not just a referee in the housing market.

[The Dude]

[Indy]

To people like me, when you whip out the Fannie/Freddie or CRA Arguments you merely expose yourself as a rank amateur on this topic or somebody who's approaching the topic armed with only their ideology.

I have no time for it. I've already addressed your memes.

Why some of you will simply not acknowledge what's plain as day is completely beyond me.

Henrietta Syndrome, indeed.

[cool_chick]

To me, it's logical that it was the private sector. The government isn't friggin going to force banks to give loans to people who don't make enough for the property or have shitty credit. C'mon. And it's logical it was the private sector because of the way they were able to make all that money hiding those subprime loans and throwing bundled into the market.

It has to be blinded by idealogy, because nothing else explains this lack of understanding on this issue after all time. What else could it be? Bad sources? Wouldn't good sources be viewed as well, probably dismissed because of idealogy/partisanship?

[Mr.Bill]

Less then 25% of the sh1t mortgages were from banks beholding to CRA.. The 75% or so of those sh1t mortgages were from banks and mortgage businesses that had NOTHING to do with CRA.. That's been established and proven over and over, for years.. No way after all this time people should still be blaming the borrowers and CRA for the 2008 meltdown.

Just Google Countrywide and read what some of their ex-employees said was going on.. It's a real eye-opener.

[Stratego]

[Davethulhu]

CDOs incentivized subprime loans, because the people making the loans didn't care if they were repaid or not.

[Mr.Bill]

Many were at fault.. The Mortgage Houses, the mortgage brokers, the government, the banks, the lenders, the borrowers, the rating agencies. Without the rating agencies labeling the crap AAA, there would have been few buyers.

Also for decades when a bank gave you a 30 year mortgage they held the papers for that mortgage for 30 years, you paid them back.. In the 90's and 2000's that changed, obviously. The Robo signing proved that. After the crash the banks didn't have a clue where the paperwork was on the mortgages they had issued..So they were paying people money to sit there and forge 1,000's of papers.. And no one went to jail for that forgery.. It was a joke from top to bottom.

Follow the money, that's all you got to do with any and every thing today. Everyone was making money. To blame just the government, or any 'one' person or institution is naive.

[Ben Huh]

[The Dude]