Why don't the libs get mad about banking?

[ccbadd]

Why is it that all the liberal hacks that hate business never voice any concerns about big banking? When TARP happened, all the liberal dems (and repub pukes) kept there mouths shut over the bailout when it was clear that splitting the big banks up would have been the right thing to do. Now the big banks have an undue influence on politics and you blame big business. We had a chance to make it right, but Obama supported the bailout and thus you did, you went along for getting along. It is the number ONE reason we are still in this mess but you would rather blame the 1%'er while denying that your liberal congress people are part of that group. I am a conservative who did call and email my congress person insisting them to not support it by the way? Now, with QE1, 2 , and 3, how do you, with good conscience support your president. Banks make no risk loans to the government instead of dealing with the public now.

 

[glenn1]

Why is it that all the liberal hacks that hate business never voice any concerns about big banking?

Does Occupy Wall Street ring a bell?

As a libertarian who swings towards Republican views more often than not, I daresay you're not making your side look any better with threads like this and your other about welfare spending.

 

[Phokus]

I assume this is the first time you've ever posted here if you think liberals don't get mad about banking.

Do you think occupy wall street is made up of conservatives?

 

[ccbadd]

Does OWS represent the liberals in this forum? If it does, you should be ashamed. I'm not talking about cry baby rapist drug addicts who refuse to bath, but rather the group that has jobs and argues for real causes.

By the way glenn1, I have no side. I am an individual with an opinion who happens to see things from a conservative aspect. Put yourself in a box if you want, but I have a mind and can think for myself, don't need group think to survive!

 

[Phokus]

Does OWS represent the liberals in this forum? If it does, you should be ashamed. I'm not talking about cry baby rapist drug addicts who refuse to bath, but rather the group that has jobs and argues for real causes.

By the way glenn1, I have no side. I am an individual with an opinion who happens to see things from a conservative aspect. Put yourself in a box if you want, but I have a mind and can think for myself, don't need group think to survive!

Liberals are mostly the ones who get mad about banking here. Conservatives here mostly run interference for bankers by blaming the government for the meltdown.

I've never seen you post here, but you seem to be confused.

 

[IronWing]

There's a new hack in town I see. Welcome to P&N ccbadd! Care to identify some liberal Dems so we know what they look like? Dems in Congress are anything but liberal. Obama is anything but a liberal. Maybe next time we should elect actual liberals and crap like the banking mess wouldn't happen.

 

[ccbadd]

There's a new hack in town I see. Welcome to P&N ccbadd! Care to identify some liberal Dems so we know what they look like? Dems in Congress are anything but liberal. Obama is anything but a liberal. Maybe next time we should elect actual liberals and crap like the banking mess wouldn't happen.

You sir are delusional! First, I have been here a long time. Second, Community
Reinvestment Act (Jimmy Carter) and changes made in 1991 by Bill Clinton that created the housing bubble that GW Bush tried to reign in but idiots like Chuck Shummer(sp) and Barney Frank said were perfectly solvent cause the "Great Recession". PROVE ME WRONG!

And to call Obama anything less than liberal is just ridiculous.

 

[blankslate]

Actually it wasn't changes made in 1991 by Clinton.

One of his most facepalm worthy moves was signing Graham, Leach, Blighly into law happened in his 2nd term...


wait a minute...

and changes made in 1991 by Bill Clinton

Also I didn't know that Clinton had the powers to bend time... and sign bills into law during the first Bush Administration

 

[ivwshane]

You sir are delusional! First, I have been here a long time. Second, Community
Reinvestment Act (Jimmy Carter) and changes made in 1991 by Bill Clinton that created the housing bubble that GW Bush tried to reign in but idiots like Chuck Shummer(sp) and Barney Frank said were perfectly solvent cause the "Great Recession". PROVE ME WRONG!

And to call Obama anything less than liberal is just ridiculous.

Prove you wrong? When Barney Frank said that was there a republican in the White house? Yes. Was there a republican majority in the House? Yes. Was there a republican majority in the senate? Yes, yes there was, but please blame the minority party.

Bush saw an issue and made a squeek about it and nothing went any further.


Do you know how I know you are a hack?

Because you start an argument like this:

Why is it that all the liberal hacks that hate business

You should stick to your primary community, we don't need more of your type here.

 

[IronWing]

You sir are delusional! First, I have been here a long time. Second, Community
Reinvestment Act (Jimmy Carter) and changes made in 1991 by Bill Clinton that created the housing bubble that GW Bush tried to reign in but idiots like Chuck Shummer(sp) and Barney Frank said were perfectly solvent cause the "Great Recession". PROVE ME WRONG!

And to call Obama anything less than liberal is just ridiculous.

I don't have to prove you wrong. You made the assertion. Show me where the government required a lender to make a loan to an unqualified borrower. The banks made those loans out of pure greed.

 

[ccbadd]

Prove you wrong? When Barney Frank said that was there a republican in the White house? Yes. Was there a republican majority in the House? Yes. Was there a republican majority in the senate? Yes, yes there was, but please blame the minority party.

Bush saw an issue and made a squeek about it and nothing went any further.


Do you know how I know you are a hack?

Because you start an argument like this:




You should stick to your primary community, we don't need more of your type here.

Gee, you never answered why your guys defended this did you??? Blame someone else like a child. Who put the foundation at risk? No, instead say stupid things like "we don't need more of your type here".. Sound kind of like Chuck and Barney, ey??? Only want more dumb@sses that think like I do, ey??

 

[glenn1]

You sir are delusional! First, I have been here a long time. Second, Community
Reinvestment Act (Jimmy Carter) and changes made in 1991 by Bill Clinton that created the housing bubble that GW Bush tried to reign in but idiots like Chuck Shummer(sp) and Barney Frank said were perfectly solvent cause the "Great Recession". PROVE ME WRONG!

And to call Obama anything less than liberal is just ridiculous.

If the housing bubble was Jimmy Carter's fault, then was the dot com bubble Nixon's fault? Dude, Carter was a turd but blaming him for something that happened 30 years later is extremely clueless of you.

 

[ivwshane]

I don't have to prove you wrong. You made the assertion. Show me where the government required a lender to make a loan to an unqualified borrower. The banks made those loans out of pure greed.

You don't get it do you? The whole reason government wants to take our guns away is so they can use them on the banks to make them give out loans!



/s

 

[MooseNSquirrel]

You sir are delusional! First, I have been here a long time. Second, Community
Reinvestment Act (Jimmy Carter) and changes made in 1991 by Bill Clinton that created the housing bubble that GW Bush tried to reign in but idiots like Chuck Shummer(sp) and Barney Frank said were perfectly solvent cause the "Great Recession". PROVE ME WRONG!

And to call Obama anything less than liberal is just ridiculous.

Ah we had hope for you, but youre just reusing the same old worn out tires and trying to pass them off as new.

Oh and you dont make an assertion and then demand people prove you wrong, thats not how science works!

 

[ivwshane]

Gee, you never answered why your guys defended this did you??? Blame someone else like a child. Who put the foundation at risk? No, instead say stupid things like "we don't need more of your type here".. Sound kind of like Chuck and Barney, ey??? Only want more dumb@sses that think like I do, ey??

Yes, now read what you wrote and look at yourself in the mirror.


Do you see a black pot? No? That's because your head is in your ass.

 

[ccbadd]

I don't have to prove you wrong. You made the assertion. Show me where the government required a lender to make a loan to an unqualified borrower. The banks made those loans out of pure greed.

Read the law that your lib boys passed and the regulations that followed.

http://en.wikipedia.org/wiki/Community_Reinvestment_Act#Legislative_changes_1992
http://www.occ.gov/topics/compliance-bsa/cra/index-cra.html
http://www.fdic.gov/regulations/laws/rules/6500-2515.html

http://reason.com/blog/2012/12/21/study-says-community-reinvestment-act-in
http://news.investors.com/ibd-edito...vestment-act-cra-mortgage-defaults.htm?p=full

There, you have some light reading starting from government site to private.

 

[IronWing]

OP, you seem pretty pissed off tonight. Just do your taxes?

 

[IronWing]

Read the law that your lib boys passed and the regulations that followed.

http://en.wikipedia.org/wiki/Community_Reinvestment_Act#Legislative_changes_1992
http://www.occ.gov/topics/compliance-bsa/cra/index-cra.html
http://www.fdic.gov/regulations/laws/rules/6500-2515.html

http://reason.com/blog/2012/12/21/study-says-community-reinvestment-act-in
http://news.investors.com/ibd-edito...vestment-act-cra-mortgage-defaults.htm?p=full

There, you have some light reading starting from government site to private.

Meanwhile, you'll provide evidence that the government required lenders to make loans to unqualified borrowers, right? Right?

 

[ivwshane]

Read the law that your lib boys passed and the regulations that followed.

http://en.wikipedia.org/wiki/Community_Reinvestment_Act#Legislative_changes_1992
http://www.occ.gov/topics/compliance-bsa/cra/index-cra.html
http://www.fdic.gov/regulations/laws/rules/6500-2515.html

http://reason.com/blog/2012/12/21/study-says-community-reinvestment-act-in
http://news.investors.com/ibd-edito...vestment-act-cra-mortgage-defaults.htm?p=full

There, you have some light reading starting from government site to private.

Lol I love your choice of editorials, no bias there at all.

Your other links don't really show anything either or at least show a correlation to changes and an uptick in lending. In fact on the last editorial you linked to, the graph clearly shows a huge uptake in lending before any changes to the CRA were made and it shows that it took several years before any affect of the prior changes to the CRA to take place. A very weak correlation at best.

 

[ccbadd]

OP, you seem pretty pissed off tonight. Just do your taxes?

I will admit, this is what is pissing me off. I just wish people would look at the facts of what happened and not be lost in the political babble. Hard working people are getting hit for no reason other than working hard and planning for bad times. The media keeps selling it as the ultra rich is being punished, but that is just not the case. I do believe that our government should be a resource and not a burden to this type of person. A lot of good people are paying a lot of taxes coupled with high gas prices and a hard charge against employers, it is really causing harm that will only make all our lives worse not better. I really think the liberal mindset is to bring us all down to poverty rather that up to middle class.

 

[ccbadd]

Lol I love your choice of editorials, no bias there at all.

Your other links don't really show anything either or at least show a correlation to changes and an uptick in lending. In fact on the last editorial you linked to, the graph clearly shows a huge uptake in lending before any changes to the CRA were made and it shows that it took several years before any affect of the prior changes to the CRA to take place. A very weak correlation at best.

The graph show a major uptick in 1991 after Clinton had it enhanced. I don't see how you came to this conclusion.

 

[Brainonska511]

The graph show a major uptick in 1991 after Clinton had it enhanced. I don't see how you came to this conclusion.

I think I found your problem.

 

[umbrella39]

There's a new hack in town I see. Welcome to P&N ccbadd! Care to identify some liberal Dems so we know what they look like? Dems in Congress are anything but liberal. Obama is anything but a liberal. Maybe next time we should elect actual liberals and crap like the banking mess wouldn't happen.

More like some one resurrected an ALT... OP lost his argument in his first sentence and kept on losing with each continued 'lib' tantrum. SSDA

 

[LegendKiller]

The graph show a major uptick in 1991 after Clinton had it enhanced. I don't see how you came to this conclusion.

There hasn't been a single person who could answer these questions.


1. What was the total balance of securitized CRA mortgages.

2. What was the total balance of securitized CRA mortgages that were eventually put into CDOs.

3. What was the total balance of securitized CRA mortgages that were put into CDOs which had CDS issued against them.

4. What was the static pool losses on securitized CRA mortgages.

5. What was the total balance of securitized CRA mortgages that were either first-issue RMBS, CDOs or Synthetic CDOs that were sold into SIVs, SecArb, or multi-seller conduit securitizations.

5. What was the overall terms of securitized CRA mortgages, for example, were they No/Low doc? IO? Option-Arm? Teaser rate?


Until those can be answered, which I have never seen them answered, then the correlation between CRA and the mortgage crisis is dubious at best. The overall volume of CRA mortgages to the entire universe of subprime mortgages during the bubble years was minuscule. Further, I don't think CRA mortgages, for the most part, were sold into securitizations, which was the primary vehicle for leveraging the mortgages and ultimately drove borrowing costs, underwriting/rating fees and CDS ridiculousness.

 

[nehalem256]

If the housing bubble was Jimmy Carter's fault, then was the dot com bubble Nixon's fault? Dude, Carter was a turd but blaming him for something that happened 30 years later is extremely clueless of you.

It still an improvement over the Democrats who blame Reagan for things that happened 10 years before he was president.