How Obama improved the economy and saved us from a depression

Discussion in 'Politics' started by futurecurrents, Apr 26, 2012.

  1. They'll stone you when you're trying to be so good
    They'll stone you just like they said they would
    They'll stone you when you're trying to go home
    They'll stone you when you're there all alone
    But I would not feel so all alone
    Everybody must get stoned

    :D

    I dunno, that;s the first thing that popped into my head when I read your post.
     
    #41     Apr 29, 2012
  2. "Typical partisan idiocy. The part of the first graph labeled "Republican Policies" was when Democrats controlled both houses of congress. The fact is that the crash of 2008 was caused by years of bad policy promoted by both parties. I blame George W. Bush for a major unnecessary war and the shredding of our constitution, but that crash would have occurred no matter who was president."

    But the Republicans got just what they wanted... little to no regulation, and guess what happened? A financial crash largely due to lack of effective regulations.
     
    #42     Apr 29, 2012
  3. Pardon me if I misinterpreted your statement as being what you actually thought instead of being sarcasm.
     
    #43     Apr 29, 2012
  4. rew

    rew

    Republicans wanted to impose stronger lending standards on Fannie Mae and Freddie Mac mortgages. The Democrats were adamantly against it. It was the ability of banks to offload their subprime mortgages onto Fannie Mae and Freddie Mac that was a major factor in creating the mortgage crisis. So don't give me crap about how responsible the Democrats are.

    <iframe width="640" height="360" src="http://www.youtube-nocookie.com/embed/NQXbT5ZMYaY?rel=0" frameborder="0" allowfullscreen></iframe>
     
    #44     Apr 30, 2012
  5. this is false. another right wing meme. fannie and freddie never took liar loans. they had some of the tougher standards.
    the reason gs and others bundled the loans from the banks was to sell them to investors and bypass f&f.
     
    #45     Apr 30, 2012
  6. So they needed govt backing because they were so strict in their lending standards, what planet do you monkeys live on ?
     
    #46     Apr 30, 2012
  7. not the same one you live on. mine is called reality. i dont think you can even see reality from where you are.
     
    #47     Apr 30, 2012
  8. Pressure from the chinese is what tipped the govt bailout hand to put their whole obligations on govt debt, otherwise they were headed for a leaman flush.
     
    #48     Apr 30, 2012
  9. Not true. They greatly relaxed their standards, both to satisfy congress and to glom onto some of the profits being generated by subprime.
     
    #49     Apr 30, 2012
  10. they relaxed standards because they were losing market share to the wall street bundlers but they never took no doc liar loans of the type that caused so many forclosures.
    f&f loans always had to be conforming loans.
    wall street invented ways to bypass f&f.

    Conforming loan From Wikipedia, the free encyclopediaJump to: navigation, search In the United States, a conforming loan is a mortgage loan that conforms to GSE guidelines.[1]

    In general, any loan which does not meet guidelines is a non-conforming loan. A loan which does not meet guidelines specifically because the loan amount exceeds the guideline limits is known as a jumbo loan.[1]
    CriteriaThe Office of Federal Housing Enterprise Oversight (OFHEO) set the criteria on what constitutes a conforming loan limit that Fannie Mae and Freddie Mac can buy. Criteria include debt-to-income ratio limits and documentation requirements. The maximum loan amount is set based on the October-to-October changes in median home price, above which a mortgage is considered a jumbo loan, and typically has higher rates associated with it. This is because both Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market, making the demand for a non-conforming loan much less. By virtue of the laws of supply and demand, then, it is harder for lenders to sell the loans, thus it would cost more to the consumers (typically 1/4 to 1/2 of a percent.)
     
    #50     Apr 30, 2012