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Thread: Biden Has A Lot Of Work To Do Undoing The Damage

  1. #76 | Top
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    Quote Originally Posted by Into the Night View Post
    The 2001 and 2007 crashes were caused by the Federal Reserve, and policies implemented by Democrats, not the President.
    Correct!

    "When government fears the people, there is liberty. When the people fear the government, there is tyranny."


    A lie doesn't become the truth, wrong doesn't become right, and evil doesn't become good just because it is accepted by a majority.
    Author: Booker T. Washington



    Quote Originally Posted by Nomad View Post
    Unless you just can't stand the idea of "ni**ers" teaching white kids.


    Quote Originally Posted by AProudLefty View Post
    Address the topic, not other posters.

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    Quote Originally Posted by PoliTalker View Post
    And we refuse to see homage paid to it in statues people have to look at every day.
    Most of the triggered leftist loons didn't know who it was they were looking at.
    "When government fears the people, there is liberty. When the people fear the government, there is tyranny."


    A lie doesn't become the truth, wrong doesn't become right, and evil doesn't become good just because it is accepted by a majority.
    Author: Booker T. Washington



    Quote Originally Posted by Nomad View Post
    Unless you just can't stand the idea of "ni**ers" teaching white kids.


    Quote Originally Posted by AProudLefty View Post
    Address the topic, not other posters.

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    Quote Originally Posted by Into the Night View Post
    The 2001 and 2007 crashes were caused by the Federal Reserve, and policies implemented by Democrats, not the President.
    it was bipartisan elitist malfeasance.. who is charged with conducting due diligence on giving loans? banks are. period.

    they created a bubble on purpose. then managed the pop to their own benefit.

    this is what the financial industry does, bubblecrafting and timing entries and exits. they abuse the "dumb money", regular people.

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    Quote Originally Posted by AssHatZombie View Post
    it was bipartisan elitist malfeasance..
    Nope. The Fed and Democrat policies.
    Quote Originally Posted by AssHatZombie View Post
    who is charged with conducting due diligence on giving loans?
    The 2001 crash wasn't a debt crash. The 2007 crash was.
    Quote Originally Posted by AssHatZombie View Post
    banks are. period.
    Banks did it because the Fed was handing out too much cash, and Democrats removed controls on banks being stupid.
    Quote Originally Posted by AssHatZombie View Post
    they created a bubble on purpose. then managed the pop to their own benefit.
    Nope. The Fed and the Democrats created the bubble.
    Quote Originally Posted by AssHatZombie View Post
    this is what the financial industry does, bubblecrafting and timing entries and exits. they abuse the "dumb money", regular people.
    Bubblecrafting??? What kind of buzzword is this? No, the Fed and Democrat policies created the bubble in both cases.

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    Quote Originally Posted by Into the Night View Post
    Nope. The Fed and Democrat policies.

    The 2001 crash wasn't a debt crash. The 2007 crash was.

    Banks did it because the Fed was handing out too much cash, and Democrats removed controls on banks being stupid.

    Nope. The Fed and the Democrats created the bubble.

    Bubblecrafting??? What kind of buzzword is this? No, the Fed and Democrat policies created the bubble in both cases.
    who made banks give loans to people who couldn't afford them?

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    Quote Originally Posted by AssHatZombie View Post
    who made banks give loans to people who couldn't afford them?
    That wasn't quite the case. Banks made loans to people who could afford them as long as the market kept going up.

    What happened was the Democrats created a set of conditions intended to give the poor and such a better chance to buy a home. This included changes to allowable mortgage plans like $1 or $0 down mortgages, interest only mortgages, ARM's, and the like. These mortgages let those with little or no equity in a home get a mortgage, or allowed someone to get a mortgage with a lower payment per month.

    That set up the market not so much for the working poor to get homes so much as for the ambitious in the Middle Class to become landlords buying second and third homes to rent out, or buy more house than they could really afford. It also allowed the less credit cautious to take out second and third mortgages on their home based on equity that really was a paper fiction. That way they could have the dream vacation, buy the RV or boat, have all the toys...

    When the crash came people in these situations walked away from homes in which they had little or no actual equity. They weren't losing anything personally other than taking a hit on their fictional credit score. Of the majority of the poor nothing changed .

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    Quote Originally Posted by T. A. Gardner View Post
    That wasn't quite the case. Banks made loans to people who could afford them as long as the market kept going up.

    What happened was the Democrats created a set of conditions intended to give the poor and such a better chance to buy a home. This included changes to allowable mortgage plans like $1 or $0 down mortgages, interest only mortgages, ARM's, and the like. These mortgages let those with little or no equity in a home get a mortgage, or allowed someone to get a mortgage with a lower payment per month.

    That set up the market not so much for the working poor to get homes so much as for the ambitious in the Middle Class to become landlords buying second and third homes to rent out, or buy more house than they could really afford. It also allowed the less credit cautious to take out second and third mortgages on their home based on equity that really was a paper fiction. That way they could have the dream vacation, buy the RV or boat, have all the toys...

    When the crash came people in these situations walked away from homes in which they had little or no actual equity. They weren't losing anything personally other than taking a hit on their fictional credit score. Of the majority of the poor nothing changed .
    is that due diligence?

    the market was going up cuz they were creating a bubble.

    it is quite the case.

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    credit default swaps were invented to keep more peripheral banks from blowing the whistle on the whole thing.

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    Quote Originally Posted by AssHatZombie View Post
    is that due diligence?

    the market was going up cuz they were creating a bubble.

    it is quite the case.
    The market kept going up because people were buying and selling homes to make a profit off the rising values of the home. Isn't the first time that's happened in history. Probably the first documented case of this to occur is the tulip bubble (also known as mania or fever) from about 1560 to 1637 in Holland. It peaked in late 1636 and by early 1637 the bubble burst and left tens of thousands bankrupt holding worthless tulip bulbs...

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    Quote Originally Posted by T. A. Gardner View Post
    The market kept going up because people were buying and selling homes to make a profit off the rising values of the home. Isn't the first time that's happened in history. Probably the first documented case of this to occur is the tulip bubble (also known as mania or fever) from about 1560 to 1637 in Holland. It peaked in late 1636 and by early 1637 the bubble burst and left tens of thousands bankrupt holding worthless tulip bulbs...
    because the banks were bubble crafting

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    who is charged with due diligence?

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    Quote Originally Posted by Into the Night View Post
    The 2001 and 2007 crashes were caused by the Federal Reserve, and policies implemented by Democrats, not the President.
    Ten out of the 13 post-WW2 recessions have been during Republican administrations. Including all the worst ones

    Not a coincidence anymore.

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    Quote Originally Posted by AssHatZombie View Post
    who made banks give loans to people who couldn't afford them?
    The Democrats in Congress.

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    Quote Originally Posted by AssHatZombie View Post
    is that due diligence?

    the market was going up cuz they were creating a bubble.

    it is quite the case.
    Thank the Democrats and the Fed. That's what caused the bubble.

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    Quote Originally Posted by Cypress View Post
    Ten out of the 13 post-WW2 recessions have been during Republican administrations. Including all the worst ones

    Not a coincidence anymore.
    Correlation doesn't not necessarily equal causation.

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