Stephen Lerner wants to overthrow the government

[Matt1970]

Your ability to be deliberately obtuse is staggering. 31% of lower priced homes as CRA "Prime Lending"- loans where the lenders exercised due diligence, and where buyers could actually afford the payments. The default rate on such loans is low, even when the buyers paid too much. Prime lending has little to do with the bubble or the crash. Even sub prime fixed interest 30 year notes had little to do with it.

You are pulling shit out of your ass to cover your theory and you know it. If the buyers could actually afford it in the first place, then they wouldn't fall under loans covered by the CRA. Ok, that aside, if you don't see a problem with 9% of all high priced homes going to low income families, then keep your head under the rock it is and stick with your theory.

 

[_GTech]

I don't know what this guy will accomplish but all you really gotta consider to see the truth the matter is...

The Federal Reserve Bank has been printing hundreds of billions of dollars every day. So, all you will accomplish is another corporate bailout, which you the activist / rebels will pay for, along with all the other Tax Payers, and you will fail, if you aren't arrested first for something they can & will dig up on you...

It's clear to me some just don't see the big picture with the government, they control everything with law & the power to print money, this is just another loop in the circle of greed that is known as Washington. As US Debt Goes up, so does your taxes, as problems arise, the Government will take action based upon how much money it will put in their pockets or simply crush the uprising causing the noise..

It's clear to see that this guy is definitely off his rocker...

 

[nonlnear]

I probably disagree with most of Lerner's politics, but I see absolutely nothing wrong with anything he's saying (as far as what kind of speech should be protected). Yes, he is discussing powerful tactics, but that's the beauty of our political liberties: they give the people a lot more power than most plebeians are aware of.

As for the morality of strategic default, or the actual effects of the proposed strategy, that's a separate issue from my reaction to those who call his expression of citizenship terrorism. I might jump into that discussion in later post...

 

[Jhhnn]

You are pulling shit out of your ass to cover your theory and you know it. If the buyers could actually afford it in the first place, then they wouldn't fall under loans covered by the CRA. Ok, that aside, if you don't see a problem with 9% of all high priced homes going to low income families, then keep your head under the rock it is and stick with your theory.

CRA loans aren't about income, but rather about red lining of neighborhoods. And sub prime loans aren't necessarily about the credit worthiness of the buyer, either.

http://en.wikipedia.org/wiki/Redlining

http://online.wsj.com/article/SB119662974358911035.html?mod=hps_us_whats_news

Your ideology apparently prohibits understanding what really happened and who profited from the real estate bubble. Soundbites and slogans won't even begin to cover it. If you're bound and determined to reach the conclusions you embrace, that's ontology.

http://en.wikipedia.org/wiki/Subprime_mortgage_crisis

 

[Zebo]

Yup just read wiki link if you want to know what really went down. I don't know about ideology preventing people from understanding, even on the left people don't, it's more a mental stumbling block for most Americans in that they don't understand finances and that financial crimes don't feel real like holding up a liquor store does.

 

[LegendKiller]

You are pulling shit out of your ass to cover your theory and you know it. If the buyers could actually afford it in the first place, then they wouldn't fall under loans covered by the CRA. Ok, that aside, if you don't see a problem with 9% of all high priced homes going to low income families, then keep your head under the rock it is and stick with your theory.

Look dude, CRA loans were a massively small % of all subprime loans originated. Not only that but they performed remarkably well through the downturn. The vast majority of shit loans originated were NOT CRA loans. Countrywide was not a CRA regulated entity, nor was OptionOne, First Franklin, New Century, Fremont, those lenders probably accounted for over well over 50% of subprime originations.

The worst offenders were NOT CRA loans that were mostly conforming loans. They were no/low-doc option arms that were offered to speculators and fools. Get it through your thick skull.

 

[dmcowen674]

Originally Posted by Matt1970
You are pulling shit out of your ass to cover your theory and you know it. If the buyers could actually afford it in the first place, then they wouldn't fall under loans covered by the CRA. Ok, that aside, if you don't see a problem with 9% of all high priced homes going to low income families, then keep your head under the rock it is and stick with your theory.

Look dude, CRA loans were a massively small % of all subprime loans originated. Not only that but they performed remarkably well through the downturn. The vast majority of shit loans originated were NOT CRA loans. Countrywide was not a CRA regulated entity, nor was OptionOne, First Franklin, New Century, Fremont, those lenders probably accounted for over well over 50% of subprime originations.

The worst offenders were NOT CRA loans that were mostly conforming loans. They were no/low-doc option arms that were offered to speculators and fools. Get it through your thick skull.

Matt, why bother messing with people like LK? They are ones profitting from raping the country. At least this guy flaunts it up front.

 

[LegendKiller]

Originally Posted by Matt1970
You are pulling shit out of your ass to cover your theory and you know it. If the buyers could actually afford it in the first place, then they wouldn't fall under loans covered by the CRA. Ok, that aside, if you don't see a problem with 9% of all high priced homes going to low income families, then keep your head under the rock it is and stick with your theory.




Matt, why bother messing with people like LK? They are ones profitting from raping the country. At least this guy flaunts it up front.

Yeah, that's me. At least I am not a prognosticator of stupidity. How's that bridge collapse prediction going, Dave? Is your theory still an earthquake? How's your earthquake predicting going?

 

[_GTech]

Raping your country for Profit is Treason in my book. It also why many rulers have been ousted or even assassinated. You can only tax & do evil in the site of the public so long before they decide to take voice and collaborate, what we see here is the result of actions which have been taking place for over 20 years now.

The question is, is how long before the revolution begins, Social Security is the greatest threat to our nation, and with plausible fraudulent programs like 401k pissing many worker bees off, it's only a matter of time before the Government bubble burst...