Into the Night
Verified User
I am not hoping for a crash. It is being caused by idiots like you, supporting morons like Biden and the Democrats.
GDP: US Economy grows at fastest pace in nearly two years. God Bless Bidenomics.
- Thread starter Joe Capitalist
- Start date
I am not hoping for a crash. It is being caused by idiots like you, supporting morons like Biden and the Democrats.
Into the Night
Verified User
The current economic depression was started by DEMOCRATS, not Trump.
ThatOwlWoman
Not Nice
Actually, Tommy Wankeryanker, YOU said that you would ignore ME. Damn, those tropical parasites have finally reached what's left of your brain. Or is this tertiary syphilis?
Joe Capitalist
Racism is a disease
Bullshit. Typing it on this forum doesn't make it true, Serendipshit.
You offer no proof of your claims so because your credibility is lower than whale shit, we call bullshit on your claims.
The mortgage meltdown happened during Bush Jr's term so he takes full responsibility.
S&P is a stock market index. It has zero, nada, nothing to do with mortgages and real estate.
As to be expected, You seem very confused Serendipshit.
Joe Capitalist
Racism is a disease
MAGA morons were hoping and praying for a market crash that would devastate America when Trump was president?
Once again Serendipshit, you seem very confused.
He is right and it is coming. One only need to look at the data and the facts. Something Big Government leftist lemmings like you ignore. The economy isn't growing. The deficit, debt and inflation are.
If you remove the massive Government spending that had buried our children's future in over 33 trillion in debt, the economy is doing quite badly. Companies are laying off high paying jobs. People are struggling to buy groceries and personal debt is skyrocketing to make up the difference as personal savings are diminishing.
It is a recipe for disaster. Anyone who thinks Biden is doing a great job is either uneducated, severely stupid or just a dishonest lying hack.
Only morons think Biden is doing a great job. War in Ukraine. War in the ME. Massive inflation. Layoffs.
Biden is an embarrassment to anyone with half a brain. That obviously excludes you.
Or a mortgage. But heck, if you ignore skyrocketing interest rates, sky high gas prices, sky high grocery prices and wars in Ukraine and the ME, things are awesome.
That is a wage issue, not an inflation one.
Which one of us opposed raising wages? Oh right you do.
So you refuse to raise wages and then you whine that no one can afford their car payments.
COULD ONE HAVE TO DO WITH THE OTHER???
And BTW - auto loan failures peaked again during Trump:
Another moronic, uneducated statement lacking any factual reference. Nothing says MORON louder than a hack who believes that Government can arbitrarily raise wages.
Projection. But alas, you're a Biden voter. Nothing screams "MORON" louder than that.
WRONG as usual. But alas, you're an uneducated leftist moron that believes that Marxist Government is the answer.
Wrong. But alas, you're an uneducated, lying leftist partisan hack. I have to laugh when morons on the left blame Trump for the spending during the Covid HOAX they perpetuated and wallowed in.
But let's get educated. Presidents cannot pas spending bills. That is left to the Congress. And most of that spending was by Democrats with the PHONY media carrying their water.
Lie and very stupid and dishonest. You just described what Biden is doing. Moron.
serendipity
Verified User
Standard and Poors is ratings agency first and foremost. Are you really that cretinous?
Financial companies are still paying the price for the crisis of 2009, as Standard & Poor’s showed when it agreed on Wednesday to pay the US government and two states more than $77m to settle charges that it inflated its ratings of mortgage-backed securities.
In its first enforcement action against a major rating agency, the Securities and Exchange Commission accused S&P of fraudulent misconduct, saying the company loosened standards on its ratings to drum up business in recent years.
The agreement requires S&P to pay more than $58m to the SEC, $12m to New York and $7m to Massachusetts.
As part of its agreement with the SEC, Standard & Poor’s Ratings Services, a division of McGraw Hill Financial, will take a “timeout” from rating certain types of mortgage-backed securities for a year.
“These settlements involve findings of intentional fraud in 2011 and 2012, well after the financial crisis,” said Andrew Ceresney, director of the SEC’s enforcement division, on a call with reporters. “The financial crisis may be behind us, but these cases are an important reminder that the race-to-the-bottom behavior exists even though the financial crisis has ended.”
S&P said in a statement that it did not admit or deny any of the charges.
https://www.theguardian.com/busines...ne-banned-rating-mortgage-securities-one-year
Last edited:
The answer is YES, he is.
Joe Capitalist
Racism is a disease
The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and covers approximately 80% of available market capitalization.
Bush Jr and his American Dream Downpayment Act was the cause of the 2008 mortgage crisis. Everything else was secondary.
I know it's encoded in your DNA to defend all of the Republiclowns fuck-ups but you can't win this argument.
This fuck-ups lies squarely at the feet of George Bush Jr and the Republiclowns sand there's nothing you can say to change that.
Bush Jr:
The rate of homeownership in America now stands a record high of 68.4 percent. Yet there is room for improvement. The rate of homeownership amongst minorities is below 50 percent. And that's not right, and this country needs to do something about it. We need to -- (applause.) We need to close the minority homeownership gap in America so more citizens have the satisfaction and mobility that comes from owning your own home, from owning a piece of the future of America.
Last year I set a goal to add 5.5 million new minority homeowners in America by the end of the decade. That is an attainable goal; that is an essential goal. And we're making progress toward that goal. In the past 18 months, more than 1 million minority families have become homeowners. (Applause.) And there's more that we can do to achieve the goal. The law I sign today will help us build on this progress in a very practical way.
QP!
Verified User
I will point out again the precipitating action that caused the cascade of mortgage failures in 2008 WAS NOT poorer people getting loans they qualified for thanks to Dodd Frank. It was the mass numbers of completely fraudulent loans that Dodd Frank in now way allowed for to be written.
Dodd Frank or not, if the masses of those subprime (NINJA, etc) loans are be written and accepted into the Mortgage stacks bundles, that were completely fraudulently written, they still cause the same problems in those bundles and the cascading failure.
It WAS a failure in the banking segment to enforce the laws, but of course they wanted to point the finger at 'The Poors', as they ALWAYS do and they have an army of Trump derps always willing to do that dirty work and lie.
Dodd Frank or not, if the masses of those subprime (NINJA, etc) loans are be written and accepted into the Mortgage stacks bundles, that were completely fraudulently written, they still cause the same problems in those bundles and the cascading failure.
It WAS a failure in the banking segment to enforce the laws, but of course they wanted to point the finger at 'The Poors', as they ALWAYS do and they have an army of Trump derps always willing to do that dirty work and lie.
Into the Night
Verified User
The American Dream act did not cause the 2007-2008 crash.
The Federal Reserve did.