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[mugs]

Bitter much? :roll:

 

[Vic]

Originally posted by: blackangst1
Example? Direct cause and effect?

Nevermind. I found the refrence to how Clinton sparked the beginning of the end of the housing meltdown.

Nevermind.

That's a crock. During the housing boom from 02-06, FHA loans made up barely 3% of the purchase market.

 

[blackangst1]

Originally posted by: Vic

Originally posted by: blackangst1
Example? Direct cause and effect?

Nevermind. I found the refrence to how Clinton sparked the beginning of the end of the housing meltdown.

Nevermind.

That's a crock. During the housing boom from 02-06, FHA loans made up barely 3% of the purchase market.

Its a crock because you disagree. Doesnt mean its wrong. Have you seen all the clips of Clinton urging everyone from banks to the Senate to pass reform to make it easier for Americans to buy a home? Well they did, and that WAS the beginning of the end. Look it up some time.

 

[jman19]

Originally posted by: LS8
DOW down 334.04...

Change you can't invest in.

He's not even in office and the tears are flowing

 

[Vic]

Originally posted by: blackangst1

Originally posted by: Vic

Originally posted by: blackangst1
Example? Direct cause and effect?

Nevermind. I found the refrence to how Clinton sparked the beginning of the end of the housing meltdown.

Nevermind.

That's a crock. During the housing boom from 02-06, FHA loans made up barely 3% of the purchase market.

Its a crock because you disagree. Doesnt mean its wrong. Have you seen all the clips of Clinton urging everyone from banks to the Senate to pass reform to make it easier for Americans to buy a home? Well they did, and that WAS the beginning of the end. Look it up some time.

Have you seen all the same clips and speeches from Bush? Google up America's Homeownership Challenge 2002.
That doesn't mean that was the cause of the boom/bust when those govt loans they sponsored made up only a small percentage of the mortgage market. And yaknow why? Because those govt loans had more restrictive qualifications and low maximum loan amounts compared to 'competitive' offerings from independent mortgage companies selling their loans up to Wall Street.

So it's a crock because it's crock. And the difference here is that I know what I'm talking about from 15 years working in mortgage banking, while you and your biased linked don't have a clue.

 

[Chadder007]

Down 326 now.

 

[blackangst1]

Originally posted by: Vic

Originally posted by: blackangst1

Originally posted by: Vic

Originally posted by: blackangst1
Example? Direct cause and effect?

Nevermind. I found the refrence to how Clinton sparked the beginning of the end of the housing meltdown.

Nevermind.

That's a crock. During the housing boom from 02-06, FHA loans made up barely 3% of the purchase market.

Its a crock because you disagree. Doesnt mean its wrong. Have you seen all the clips of Clinton urging everyone from banks to the Senate to pass reform to make it easier for Americans to buy a home? Well they did, and that WAS the beginning of the end. Look it up some time.

Have you seen all the same clips and speeches from Bush? Google up America's Homeownership Challenge 2002.
That doesn't mean that was the cause of the boom/bust when those govt loans they sponsored made up only a small percentage of the mortgage market. And yaknow why? Because those govt loans had more restrictive qualifications and low maximum loan amounts compared to 'competitive' offerings from independent mortgage companies selling their loans up to Wall Street.

So it's a crock because it's crock. And the difference here is that I know what I'm talking about from 15 years working in mortgage banking, while you and your biased linked don't have a clue.

First of all, 15 years in ANY industry doesnt make you right. Shit, I had a financial advisor with 30 years experience try to get me to move my investments out of stocks and into money markets temperarily two months ago. Knowing that buy high sell low is not smart, I didnt, and moved MORE money into stocks. Im now up net 22%. So much for experience.

Second, the Bush America's Homeownership Challenge 2002 in regards to housing did very little in the way of altering the way Americans can buy property. From 4 Google searches the outline is:

The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade. Under his leadership, the overall U.S. homeownership rate in the second quarter of 2004 was at an all time high of 69.2 percent. Minority homeownership set a new record of 51 percent in the second quarter, up 0.2 percentage point from the first quarter and up 2.1 percentage points from a year ago.

President Bush's initiative to dismantle the barriers to homeownership includes:
*American Dream Downpayment Initiative, which provides down payment assistance to approximately 40,000 low-income families;
*Affordable Housing. The President has proposed the Single-Family Affordable Housing Tax Credit, which would increase the supply of affordable homes;
*Helping Families Help Themselves. The President has proposed increasing support for the Self-Help Homeownership Opportunities Program; and
*Simplifying Homebuying and Increasing Education. The President and HUD want to empower homebuyers by simplifying the home buying process so consumers can better understand and benefit from cost savings. The President also wants to expand financial education efforts so that families can understand what they need to do to become homeowners.


If youre such an expert you would know this. Clinton's policies were FAR more reaching in their effect on housing, and were simply extensions of what Clinton already put into place.

 

[Vic]

Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever.

 

[OCGuy]

Originally posted by: Vic
Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever.

:thumbsup:

 

[blackangst1]

Originally posted by: Vic
Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever spurned by Clinton's continued urging.

Fixed for accuracy. And for the record I never laid 100 or even most of the blame on Clinton himself. He opened the door with no regard who went in or out. Gatekeeper of sorts.

 

[miketheidiot]

Originally posted by: Ocguy31

Originally posted by: Vic
Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever.

:thumbsup:

amen.

 

[miketheidiot]

Originally posted by: blackangst1

Originally posted by: Vic
Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever spurned by Clinton's continued urging.

Fixed for accuracy. And for the record I never laid 100 or even most of the blame on Clinton himself. He opened the door with no regard who went in or out. Gatekeeper of sorts.

clinotn was out of office in 2000, the housing bubble took off in 2003 and popped in 2006/7. How does clinton come into this again?

 

[daniel49]

down 486 pts. wall street seems confident in "The One"

 

[whistleclient]

Originally posted by: daniel49
down 486 pts. wall street seems confident in "The One"

i don't think you quite understand the stock market. as someone else said: the rule of thumb is "buy on the rumor, sell on the news". so the bump yesterday was for obama, today we go back to the reality of the problems we have. the same thing happens for apple keynotes-- the stock bumps up before the keynote on rumors of new laptops, then drops when they're actually announced.

 

[daniel49]

Originally posted by: tangent1138

Originally posted by: daniel49
down 486 pts. wall street seems confident in "The One"

i don't think you quite understand the stock market. as someone else said: the rule of thumb is "buy on the rumor, sell on the news". so the bump yesterday was for obama, today we go back to the reality of the problems we have. the same thing happens for apple keynotes-- the stock bumps up before the keynote on rumors of new laptops, then drops when they're actually announced.

In recent elections, the stock market was not dramatically affected by Election Day events. The Dow closed up 101 points in 2004 to close at 10,137.05 on the day after the election. And in 2000, it edged down just 45 points, closing at 10,907.06 the day after the election amid the uncertain outcome of the Bush-Gore contest.
Text
Not making any judgements at this time just observing.

 

[Engineer]

Originally posted by: daniel49
down 486 pts. wall street seems confident in "The One"

Wow. Let's see how it ends up at the end of his term, not the "before" it starts. Obama has quite a ways to go to catch up with the chimp, who is "still" in office and getting the credit for the current economy and the current drop. I just love 8 years worth of negative wages and growth on the market! :roll:

 

[jhbball]

NICE THREAD GUY.

 

[dullard]

Hmm, I don't know what is more telling:

1) The fact that CNN has a specific well-known website for financial news that includes all this stuff AND that the OP knows about it yet still complains.

or

2) The fact that CNN has a link to the financial news and other important news ON its main webpage.

The election isn't over yet. There are more races yet to be called. National politics are quite important and should be given at least 24 hours from the time that the polls close for people to digest the information. National politics are the single most important news today. People like to bash CNN, but this is one of worst attempts that I've seen yet.

 

[Synomenon]

It's down because Wall Street just remembered that Bush still has 77 long days left in office.

 

[Muse]

Given the markets' action of the last month or two, being down ~200 points today doesn't signify a hell of a lot. If the markets hadn't been particularly volatile lately you could attribute it to the election fallout, but under these circumstances, no. Besides, there weren't any surprises yesterday. The election results were already factored into the market.

 

[blackangst1]

Originally posted by: miketheidiot

Originally posted by: blackangst1

Originally posted by: Vic
Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever spurned by Clinton's continued urging.

Fixed for accuracy. And for the record I never laid 100 or even most of the blame on Clinton himself. He opened the door with no regard who went in or out. Gatekeeper of sorts.

clinotn was out of office in 2000, the housing bubble took off in 2003 and popped in 2006/7. How does clinton come into this again?

Your name suits you well. Try reading. Its fun!

 

[miketheidiot]

Originally posted by: blackangst1

Originally posted by: miketheidiot

Originally posted by: blackangst1

Originally posted by: Vic
Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever spurned by Clinton's continued urging.

Fixed for accuracy. And for the record I never laid 100 or even most of the blame on Clinton himself. He opened the door with no regard who went in or out. Gatekeeper of sorts.

clinotn was out of office in 2000, the housing bubble took off in 2003 and popped in 2006/7. How does clinton come into this again?

Your name suits you well. Try reading. Its fun!

are you saying that clinton while not president is responsible in any way for the current financial issues? Are you fucking retarded?

 

[blackangst1]

Originally posted by: miketheidiot

Originally posted by: blackangst1

Originally posted by: miketheidiot

Originally posted by: blackangst1

Originally posted by: Vic
Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever spurned by Clinton's continued urging.

Fixed for accuracy. And for the record I never laid 100 or even most of the blame on Clinton himself. He opened the door with no regard who went in or out. Gatekeeper of sorts.

clinotn was out of office in 2000, the housing bubble took off in 2003 and popped in 2006/7. How does clinton come into this again?

Your name suits you well. Try reading. Its fun!

are you saying that clinton while not president is responsible in any way for the current financial issues? Are you fucking retarded?

No. Read my original link before you pop off will ya?

 

[miketheidiot]

Originally posted by: daniel49
down 486 pts. wall street seems confident in "The One"

as has been said already, its been clear that obama was going to win for weeks, obdviously it could have been priced into the market

 

[miketheidiot]

Originally posted by: blackangst1

Originally posted by: miketheidiot

Originally posted by: blackangst1

Originally posted by: miketheidiot

Originally posted by: blackangst1

Originally posted by: Vic
Why I am still debunking this FUD months later and for the 20-30th time? :roll:

Private sector loans, not Fannie or Freddie, triggered crisis

UNC study finds that "Private Label" subprime loans default at many times the rate of Fannie and FHA loans, even when made to borrowers of similar qualifications -- Text

The subprime crisis explained with stick figures

You will NOT find a credible economist or mortgage professional who blames Clinton, Fannie, Freddie, FHA, or the CRA for the housing crisis. Now that doesn't mean that they didn't have some involvement or don't share some part of the blame. But, without question, the primary causes were Wall Street and their creative financial devices, independent subprime mortgage companies (whose attitude was "Fuck it, fund it, fix it later"), and the overall market boom attitude of the public that home values would continue going up forever spurned by Clinton's continued urging.

Fixed for accuracy. And for the record I never laid 100 or even most of the blame on Clinton himself. He opened the door with no regard who went in or out. Gatekeeper of sorts.

clinotn was out of office in 2000, the housing bubble took off in 2003 and popped in 2006/7. How does clinton come into this again?

Your name suits you well. Try reading. Its fun!

are you saying that clinton while not president is responsible in any way for the current financial issues? Are you fucking retarded?

No. Read my original link before you pop off will ya?

the fuck are you talking about, the only link in there is from vic.