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WE SHALL OVERCOME THIS DEMON PRESIDENT DUMP

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Just now, dontlooknow said:

Well the Republican track record is not good. 

Let's hope the economy continues to do well..

Do you agree Mr Billionaire?

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1 minute ago, Z09 said:

Let's hope the economy continues to do well..

Do you agree Mr Billionaire?

Yes I hope that the deficit and the economy gets better. I hope at some point it grows faster than Obama had. 

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1 minute ago, theLion said:

Right. 

+1

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3 minutes ago, theLion said:

Funny thing, the economy was going just fine in late 2007 but hit the crapper without warning shortly thereafter, and didn’t become a full blown crisis until late summer 2008 in the USA. 

 

Lots of time left for tRumps bungling to wreck the good economy he inherited. 

The housing bubble bust was indeed seen coming, by anyone with half a brain anyway.

 

You can't write people working part time at McDonald's a $300K mortgage in the name of "fairness" and expect it to work.

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1 minute ago, rippy38 said:

The housing bubble bust was indeed seen coming, by anyone with half a brain anyway.

 

You can't write people working part time at McDonald's a $300K mortgage in the name of "fairness" and expect it to work.

Correct..

Remember Barney Frank demanding people get loans regardless if they were qualified?

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2 minutes ago, rippy38 said:

The housing bubble bust was indeed seen coming, by anyone with half a brain anyway.

 

You can't write people working part time at McDonald's a $300K mortgage in the name of "fairness" and expect it to work.

Well they deregulated the banks. 

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4 minutes ago, rippy38 said:

The housing bubble bust was indeed seen coming, by anyone with half a brain anyway.

 

You can't write people working part time at McDonald's a $300K mortgage in the name of "fairness" and expect it to work.

Shouldn’t be tough for you to find a link to such “seen”. 

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6 minutes ago, Z09 said:

Correct..

Remember Barney Frank demanding people get loans regardless if they were qualified?

Honestly....that was both sides.   The Swamp is an equal opportunity sack of shit.

Remember Trump had  a Repub congress for 2 years....they fought him on the wall tooth and nail

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1 minute ago, dontlooknow said:

Well they deregulated the banks. 

Dopelook

 

Frank told Bush F and F was in great shape while at the same time demanding banks give loans to people that weren't qualified..

 

Do you even the this fact?

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1 minute ago, CrimeaRiver said:

Honestly....that was both sides.   The Swamp is an equal opportunity sack of shit.

Remember Trump had  a Repub congress for 2 years....they fought him on the wall tooth and nail

Correct..

Obama wanted Gitmo closed

 

His own party voted it down

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The banks were more than happy to play along in this scam.

Just like most healthcare carriers were happy to play along in Bammy's healthcare scam

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2 minutes ago, theLion said:

Shouldn’t be tough for you to find a link to such “seen”. 

People were getting loans they had no way of paying back..

Cash back at closings..

Illegals with no credit check or down payment

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5 minutes ago, Z09 said:

Correct..

Obama wanted Gitmo closed

 

His own party voted it down

Exactly...thanks for agreeing.  The SWAMP is both parties :lol:.  This concept seems very hard for you to admit....its called CHAT SITE-ITIS

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10 minutes ago, rippy38 said:

The housing bubble bust was indeed seen coming, by anyone with half a brain anyway.

 

You can't write people working part time at McDonald's a $300K mortgage in the name of "fairness" and expect it to work.

If you believe that you can walk into a bank with a part time job and lousy credit and dictate the terms of a loan you are nuts

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1 minute ago, CrimeaRiver said:

Exactly...thanks for agreeing.  The SWAMP is both parties :lol:.  This concept seems very hard for you to admit....its called CHAT SITE-ITIS

+1

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It was a coordinated scam for banks to secure 100s of 1000s of homes....and turn them into rental property.

Not a left/right issue.....its a SWAMP ISSUE

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Just now, Zaro said:

If you believe that you can walk into a bank with a part time job and lousy credit and dictate the terms of a loan you are nuts

The problem is games were being played to get people loans 12-15 years ago

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6 minutes ago, Z09 said:

Dopelook

 

Frank told Bush F and F was in great shape while at the same time demanding banks give loans to people that weren't qualified..

 

Do you even the this fact?

Hedge funds, banks, and insurance companies caused the subprime mortgage crisis. Hedge funds and banks created mortgage-backed securities. The insurance companies covered them with credit default swaps. Demand for mortgages led to an asset bubble in housing.  

When the Federal Reserve raised the federal funds rate, it sent adjustable mortgage interest rates skyrocketing. As a result, home prices plummeted, and borrowers defaulted. Derivatives spread the risk into every corner of the globe. That caused the 2007 banking crisis, the 2008 financial crisis, and the Great Recession. It created the worst recession since the Great Depression. 

Hedge Funds Played a Key Role in the Crisis

Hedge funds betting on bull and bear market moves played a role in the crisis.
Fanatic Studio / Getty Images

Hedge funds are always under tremendous pressure to outperform the market. They created demand for mortgage-backed securities by pairing them with guarantees called credit default swaps. What could go wrong? Nothing, until the Fed started raising interest rates. Those with adjustable-rate mortgages couldn't make these higher payments. Demand fell, and so did housing prices. When they couldn't sell their homes, either, they defaulted. No one could price, or sell, the now-worthless securities. And American International Group (AIG) almost went bankrupt trying to cover the insurance.

The subprime mortgage crisis was also caused by deregulation. In 1999, the banks were allowed to act like hedge funds. They also invested depositors' funds in outside hedge funds. That's what caused the Savings and Loan Crisis in 1989. Many lenders spent millions of dollars to lobby state legislatures to relax laws. Those laws would have protected borrowers from taking on mortgages they really couldn't afford.

Derivatives Drove the Subprime Crisis

Derivatives like mortgage-backed securities drove the subprime crisis.
Foto Bureau Nz Limited / Getty Images

Banks and hedge funds made so much money selling mortgage-backed securities, they soon created a huge demand for the underlying mortgages. That's what caused mortgage lenders to continually lower rates and standards for new borrowers.

Mortgage-backed securities allow lenders to bundle loans into a package and resell them. In the days of conventional loans, this allowed banks to have more funds to lend. With the advent of interest-only loans, this also transferred the risk of the lender defaulting when interest rates reset. As long as the housing market continued to rise, the risk was small.

The advent of interest-only loans combined with mortgage-backed securities created another problem. They added so much liquidity in the market that it created a housing boom.

Subprime and Interest-Only Mortgages Don't Mix

House Investment using Interest-Only Mortgages were harmful.
sorbetto / Getty Images

Subprime borrowers are those who have poor credit histories and are therefore more likely to default. Lenders charge higher interest rates to provide more return for the greater risk. So, that makes it too expensive for many subprime borrowers to make monthly payments.

The advent of interest-only loans helped to lower monthly payments so subprime borrowers could afford them. But, it increased the risk to lenders because the initial rates usually reset after one, three, or five years. But the rising housing market comforted lenders, who assumed the borrower could resell the house at the higher price rather than default.

 

 

 

 

 

 

 

 

 

 

Hey zero brains. 

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5 minutes ago, Z09 said:

+1

I would agree with you that DEMS are more corrupt overall...

The REPUBS would never run a Russia-Gate type scam that endangers the foundations of governance and trust in govt

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2 minutes ago, Z09 said:

People were getting loans they had no way of paying back..

Cash back at closings..

Illegals with no credit check or down payment

Banks were after the origination fees and then got rid of the sh*tty loans as soon as possible. It was fraud

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Just now, Zaro said:

Banks were after the origination fees and then got rid of the sh*tty loans as soon as possible. It was fraud

For the most part you're correct..

The under writers

Real estate agents

Banks

 

All approving $300,000 loans for paper working part time

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2 minutes ago, dontlooknow said:

The subprime mortgage crisis was also caused by deregulation. In 1999, the banks were allowed to act like hedge funds. They also invested depositors' funds in outside hedge funds. That's what caused the Savings and Loan Crisis in 1989. Many lenders spent millions of dollars to lobby state legislatures to relax laws. Those laws would have protected borrowers from taking on mortgages they really couldn't afford.

Hey zero brains

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