"You ought to marry into a family with 5 or more sisters… You know why that's the reason? One of them always loves you."
Maybe it's good advise in Arkansas or something...
and guess who caused it all?
Slick Willie Blythe (Clinton)
[/I][/QUOTE
Not True. The Wall street meltdown of 2008 had nothing to do with Clinton. Investment Banks and commercial banks were running a scam with the ratings houses like Moodys and Standard and Poor. In the link below Moody's agrees to pay the Government almost 1 billion in fines for putting false information on a prospectus. This allowed securities to be sold at a higher price than what they were worth.
https://www.theguardian.com/business...nancial-crisis Originally Posted by The_Waco_Kid
Krugman is an idiot. and the S&L bailout was about Savings and loan banks, not commercial banks.
and you'd be better off focusing on who was president when HUD pressured Fannie Mae and Freddie Mac (who thinks up these stupid names??) to expand mortgages to unqualified minority buyers ..
this guy
stop blaming Ronnie a reformed REPUBLICAN for what a die hard DEMOCRAT did.
https://www.nytimes.com/1999/09/30/b...e-lending.html
Fannie Mae Eases Credit To Aid Mortgage Lending
By Steven A. Holmes
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
- Sept. 30, 1999
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.
Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.
In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.
Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants. Originally Posted by The_Waco_Kid
Not True. The Wall street meltdown of 2008 had nothing to do with Clinton. Investment Banks and commercial banks were running a scam with the ratings houses like Moodys and Standard and Poor. In the link below Moody's agrees to pay the Government almost 1 billion in fines for putting false information on a prospectus. This allowed securities to be sold at a higher price than what they were worth. Originally Posted by adav8s28While Clinton had a major influence in the eventual bubble and crash, I blame the Dems in Congress starting in 2007 for much of what they should and could have prevented.
no so! Slick Willie owns it Originally Posted by The_Waco_KidWillie Lovers never accepted that he ended his occupancy of the WH on an economic crisis ... that Bush inherited and Willie even went ballistic over Xmas when Cheney was taking about the economic problems would be their first issue to resolve.
...Not True. The Wall street meltdown of 2008 had nothing to do with Clinton. Investment Banks and commercial banks were running a scam with the ratings houses like Moodys and Standard and Poor... Originally Posted by adav8s28
Remember the Clintons tried to loot the furniture and paintings of teh WH prior to leaving. Originally Posted by oeb11They were asked to return shit.
Yup- the next POTUS after Biden is 25th amendment xited - if victorious.have you noticed that its zealous radical young white women who are the most stern-faced, zombie-like, committed soldiers for the communists in this struggle
get ready for the Kalifornication of amerika! marxism and a ban on white males - concentration camps for political conservatives - and no more two party system.
They do have plans. Maduro and Venezuela are their model Originally Posted by oeb11