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U.S. Initial Jobless Claims Rose 25,000 to 410,000 Last Week

apdst

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the governemnt never forced anybody to make risky loans. that's a blatant lie.

No it's not. You know it's not.

Any of you ever hear of Fannie and Freddie? Wanna guess who owns half the toxic debt? Wanna guess whose been running the show at those two orgs?

Anybody? Anybody? Bueller?
 

USA_1

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No it's not. You know it's not.

Any of you ever hear of Fannie and Freddie? Wanna guess who owns half the toxic debt? Wanna guess whose been running the show at those two orgs?

Anybody? Anybody? Bueller?

You just repeat talking points without knowing what you are talking about. You might want to do some research and learn the truth.

Fannie Mae and Freddie Mac were victims, not culprits - BusinessWeek

Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. That’s right — most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie.

Look at the numbers. While the credit bubble was peaking from 2003 to 2006, the amount of loans originated by Fannie and Freddie dropped from $2.7 trillion to $1 trillion. Meanwhile, in the private sector, the amount of subprime loans originated jumped to $600 billion from $335 billion and Alt-A loans hit $400 billion from $85 billion in 2003. Fannie and Freddie, which wouldn’t accept crazy floating rate loans, which required income verification and minimum down payments, were left out of the insanity.
 

apdst

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You just repeat talking points without knowing what you are talking about. You might want to do some research and learn the truth.

Fannie Mae and Freddie Mac were victims, not culprits - BusinessWeek

Start with the most basic fact of all: virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie. That’s right — most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those no money down, no interest for a year, low teaser rate loans? All the loans made without checking a borrower’s income or employment history? All made in the private sector, without any support from Fannie and Freddie.

Look at the numbers. While the credit bubble was peaking from 2003 to 2006, the amount of loans originated by Fannie and Freddie dropped from $2.7 trillion to $1 trillion. Meanwhile, in the private sector, the amount of subprime loans originated jumped to $600 billion from $335 billion and Alt-A loans hit $400 billion from $85 billion in 2003. Fannie and Freddie, which wouldn’t accept crazy floating rate loans, which required income verification and minimum down payments, were left out of the insanity.

Who was calling the shots at Fannie and Freddie? Was it politicians?

The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities by Howard Husock, City Journal Winter 2000


Another one,

http://www.lewrockwell.com/dilorenzo/dilorenzo125.html
 

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your claim is a lie, sir.......and your post did not prove otherwise.
 

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Fannie and Freddie were not the cause of the housing bubble or it's collapse. They were victims of it. Just like the rest of us. Greed in the financial sector created the economic disaster. Nobody was forced to lend money. Nobody was forced to buy risky securities. That is a lie to try to shift blame. That is all.
 

Ockham

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Fannie and Freddie were not the cause of the housing bubble or it's collapse. They were victims of it. Just like the rest of us. Greed in the financial sector created the economic disaster. Nobody was forced to lend money. Nobody was forced to buy risky securities. That is a lie to try to shift blame. That is all.

Fannie and Freddie contributed to it and encouraged the meltdown, if not hastened it.
 

apdst

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Fannie and Freddie were not the cause of the housing bubble or it's collapse. They were victims of it. Just like the rest of us. Greed in the financial sector created the economic disaster. Nobody was forced to lend money. Nobody was forced to buy risky securities. That is a lie to try to shift blame. That is all.

So, owning half the bad loans makes them a victim? Oh puhleese!
 

VanceMack

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Our country thrived most when our industrial base was strong. Reduced dependence on government spending, people willing to work menial jobs, labor and industry negotiating viable salaries and solutions, smaller federal government with a paid down debt...those are some of the things that will contribute to revitalizing the economy.
 

liblady

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Our country thrived most when our industrial base was strong. Reduced dependence on government spending, people willing to work menial jobs, labor and industry negotiating viable salaries and solutions, smaller federal government with a paid down debt...those are some of the things that will contribute to revitalizing the economy.

sometimes you make way too much sense.
 

VanceMack

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sometimes you make way too much sense.

Like...3% of the time..no...2%... ;)

Its not about dem or rep...when I see that crap starting up it makes my brain ache.
 

USA_1

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So, owning half the bad loans makes them a victim? Oh puhleese!

They would have been fine owning the loans had the housing bubble not burst. They got hosed just like every bank in the country.

These are the companies that created the mess:
http://www.huffingtonpost.com/2011/01/25/bank-of-americas-countrywide-fraud-lawsuit_n_813708.html

Countrywide had been the nation's largest home loan originator before the housing market collapse left many of its borrowers unable to repay mortgages that in many cases required no proof of income or down payment.

http://www.washingtonpost.com/wp-dyn/content/article/2011/02/11/AR2011021106210.html



According to the SEC, former chief executive Michael Perry and former chief financial officers Scott Keys and Blair Abernathy knew that the lender was running short of the cash it needed to offset risky loans in 2007 and 2008 but failed to inform shareholders. The FDIC took control of IndyMac in July 2008, and it filed for bankruptcy months later

http://money.cnn.com/2010/07/16/news/companies/AIG_Ohio_billion-dollar_settlement.fortune/index.htm

The statement reads in part, "The settlement resolves allegations of AIG's wide-ranging fraud from October 1999 to April 2005 involving anti-competitive market division, accounting violations and stock price manipulation, and brings total expected recovery for AIG shareholders to over $1 billion. The settlement is subject to court approval."

http://www.cranedata.com/archives/all-articles/3314/
 
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apdst

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They would have been fine owning the loans had the housing bubble not burst. They got hosed just like ever bank in the country.

These are the companies that created the mess:
Bank of America's Countrywide Accused Of 'Massive Fraud' By Investors' Suit

Countrywide had been the nation's largest home loan originator before the housing market collapse left many of its borrowers unable to repay mortgages that in many cases required no proof of income or down payment.

SEC charges former IndyMac executives with fraud

According to the SEC, former chief executive Michael Perry and former chief financial officers Scott Keys and Blair Abernathy knew that the lender was running short of the cash it needed to offset risky loans in 2007 and 2008 but failed to inform shareholders. The FDIC took control of IndyMac in July 2008, and it filed for bankruptcy months later

AIG settles fraud cases for $1 billion - Jul. 16, 2010

OMG! You didn't just say that! :lamo
 

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OMG! You didn't just say that! :lamo

Fact. The creation of the housing bubble by the FED and Bush's homeownership policies and it's collapse led to the financial meltdown.
Had there been no bubble Fannie and Freddie would not have lost money. They were victims of the housing bubble.
Had home prices continued to rise or at least remain constant there would not have been a problem.

http://www.tribunact.com/news/2011-...inorities_did_not_cause_housing_crisis_s.html

Critics charged that the CRA forced banks to approve mortgages for poor, unqualified buyers who could not maintain payments and went into default or foreclosure, causing the housing market to collapse. That charge was also leveled often at the affordable-housing goals of Fannie Mae and Freddie Mac, federally sponsored enterprises that buy mortgages made by private lenders.

But the Financial Crisis Inquiry Commission established by Congress concluded in January that the 1977 law designed to prevent redlining was “not a significant factor in subprime lending or the crisis.” Ben Bernanke, chair of the Federal Reserve, had made a similar statement two years ago, but the criticism continue
 
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apdst

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Fact. The creation of the housing bubble by the FED and Bush's homeownership policies and it's collapse led to the financial meltdown.
Had there been no bubble Fannie and Freddie would not have lost money. They were victims of the housing bubble.
Had home prices continued to rise or at least remain constant there would not have been a problem.

Which policies would those be? Or, is this just getting better and better? :lamo
 

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Which policies would those be? Or, is this just getting better and better? :lamo

His policies to make this an ownership society, to let everone own their own home. Hell he even eliminated down payments for some folks.


http://www.americandreamdownpaymentassistance.com/whdochr1276.cfm

http://www.americandreamdownpaymentassistance.com/whsp12162003.cfm
THE PRESIDENT: Thank you all. Thank you for coming. Thanks for the warm welcome. It's great to be back at the Department of Housing and Urban Development. This is not my first time here, nor will it be my last. (Applause.) I am here today because we are taking action to bring many thousands of Americans closer to owning a home. Our government is supporting homeownership because it is good for America, it is good for our families, it is good for our economy.


It's almost like some of you guys were in a coma during Bush's administration, you woke up in 2009 and and was told what to think by your leaders.
 
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apdst

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His policies to make this an ownership society, to let everone own their own home. Hell he even eliminated down payments for some folks.


Got a link to bill, or executive order he signed off on?

Shall I post a link proving that it was Clinton that signed off on the repeal of Glass-Steagall?
 

USA_1

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Got a link to bill, or executive order he signed off on?

Shall I post a link proving that it was Clinton that signed off on the repeal of Glass-Steagall?

This one?
http://www.americandreamdownpaymentassistance.com/whsp12162003.cfm

The dream of homeownership should be attainable for every hardworking American. That's what we want. In this act of Congress I'm going to sign, the regulations that I hope are finalized soon will help thousands of families fulfill the dream.
 
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