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Bill Clinton responsible for the Housing crisis.

HawktimusPrime

HawktimusPrime

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Mar 23, 2015
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"Subprime Scandal: Newly released memos from the Clinton presidential library reveal evidence the government had a big hand in the housing crisis. The worst actors were in the White House, not on Wall Street.

During the 1990s, former Clinton aides bragged that more aggressive enforcement of the Community Reinvestment Act pressured banks to issue riskier mortgages, lending more proof the anti-redlining law fueled the crisis."

http://news.investors.com/ibd-edito...-doc-dump-reveals-role-in-subprime-bubble.htm
 
HawktimusPrime said:
"Subprime Scandal: Newly released memos from the Clinton presidential library reveal evidence the government had a big hand in the housing crisis. The worst actors were in the White House, not on Wall Street.

During the 1990s, former Clinton aides bragged that more aggressive enforcement of the Community Reinvestment Act pressured banks to issue riskier mortgages, lending more proof the anti-redlining law fueled the crisis."

http://news.investors.com/ibd-edito...-doc-dump-reveals-role-in-subprime-bubble.htm
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Glad we can double down the stupidity with health care. I wonder what other "Rights" we can come up with to bankrupt this once great nation. How pathetic.
 
http://www.factcheck.org/2008/10/who-caused-the-economic-crisis/

So who is to blame? There’s plenty of blame to go around, and it doesn’t fasten only on one party or even mainly on what Washington did or didn’t do. As The Economist magazine noted recently, the problem is one of "layered irresponsibility … with hard-working homeowners and billionaire villains each playing a role." Here’s a partial list of those alleged to be at fault:
  • The Federal Reserve, which slashed interest rates after the dot-com bubble burst, making credit cheap.
  • Home buyers, who took advantage of easy credit to bid up the prices of homes excessively.
  • Congress, which continues to support a mortgage tax deduction that gives consumers a tax incentive to buy more expensive houses.
  • Real estate agents, most of whom work for the sellers rather than the buyers and who earned higher commissions from selling more expensive homes.
  • The Clinton administration, which pushed for less stringent credit and down payment requirements for working- and middle-class families.
  • Mortgage brokers, who offered less-credit-worthy home buyers subprime, adjustable rate loans with low initial payments, but exploding interest rates.
  • Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages.
  • Wall Street firms, who paid too little attention to the quality of the risky loans that they bundled into Mortgage Backed Securities (MBS), and issued bonds using those securities as collateral.
  • The Bush administration, which failed to provide needed government oversight of the increasingly dicey mortgage-backed securities market.
  • An obscure accounting rule called mark-to-market, which can have the paradoxical result of making assets be worth less on paper than they are in reality during times of panic.
  • Collective delusion, or a belief on the part of all parties that home prices would keep rising forever, no matter how high or how fast they had already gone up.
 
Clinton, Greenspan, Republican Senators, Barnie Frank, Bush, Big Banks, Crimminal Brokes, the list goes on and on.

There were alot of people who caused the great recession.
 
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SIXERS24 said:
Clinton, Greenspan, Republican Senators, Barnie Frank, Bush, Big Banks, Crimminal Brokes, the list goes on and on.

There were alot of people who caused the great recession.
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Yes indeed. This article details Clintons involvement, but does in fact make sure to blame all those involved. Revisionist history as some say?

"Add President Clinton to the long list of people who deserve a share of the blame for the housing bubble and bust. A recently re-exposed document shows that his administration went to ridiculous lengths to increase the national homeownership rate. It promoted paper-thin downpayments and pushed for ways to get lenders to give mortgage loans to first-time buyers with shaky financing and incomes. It’s clear now that the erosion of lending standards pushed prices up by increasing demand, and later led to waves of defaults by people who never should have bought a home in the first place.

President Bush continued the practices because they dovetailed with his Ownership Society goals, and of course Congress was strongly behind the push. But Clinton and his administration must shoulder some of the blame."

http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/clintons_drive.html
 
SIXERS24 said:
Clinton, Greenspan, Republican Senators, Barnie Frank, Bush, Big Banks, Crimminal Brokes, the list goes on and on.

There were alot of people who caused the great recession.
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Funny how it didn't impact those listed personally...
 
BioHawk said:
Sooo, Benghazi blew up in the GOP's face and now it's time to try and bring Bill out into the spotlight?
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His disgusting wife is a possible Presidential hopeful is she not? We need to know whom we are letting back into office.
 
If the GOP would find a viable candidate then you wouldn't have to make stuff up about their opponents. Of course, any candidate that you might have had that would be viable has already been kicked out of the party.
 
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BioHawk said:
If the GOP would find a viable candidate then you wouldn't have to make stuff up about their opponents. Of course, any candidate that you might have had that would be viable has already been kicked out of the party.
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I have no candidate, I'm making a point made by Sixers in another thread. Play the game if you want, it's going to take all your quarters and you're never going to win.
 
HawktimusPrime said:
His disgusting wife is a possible Presidential hopeful is she not? We need to know whom we are letting back into office.
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Yeah...it's so apparent that Hillary was the real power in the WH from '92-00.
If'n you don't like how "disgusting" Hillary might be as POTUS....find a suitable opponent for her next year. I haven't seen a one who doesn't have a lot of warts.
 
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joelbc1 said:
Yeah...it's so apparent that Hillary was the real power in the WH from '92-00.
If'n you don't like how "disgusting" Hillary might be as POTUS....find a suitable opponent for her next year. I haven't seen a one who doesn't have a lot of warts.
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I have no horse in the race Joel, because all the horses are rigged. She is disgusting, and due to your inability to realize that there are people outside the parties that want both houses to burn, you are not going to be able to carry this debate with me.



Here Hillary shows what she really thinks about Africans.
 
HawktimusPrime said:
I have no horse in the race Joel, because all the horses are rigged. She is disgusting, and due to your inability to realize that there are people outside the parties that want both houses to burn, you are not going to be able to carry this debate with me.

View embedded media


Here Hillary shows what she really thinks about Africans.
Click to expand...

You don't act like you "don't have a horse" in this race. You sound a lot like someone who does have one, actually. Even if it is "anyone but Hillary".
 
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BioHawk said:
Because Bush is still directly responsible for most of the problems the country faces today. Bill? Not so much.
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Go ahead and keep draggin' and bitchin'. It's worked well so far.

They both have near equal parts in this fault. I have tried to move on from Bush\Clinton and would really like to forget the past 8 years...
 
Vroom_C14 said:
Go ahead and keep draggin' and bitchin'. It's worked well so far.

They both have near equal parts in this fault. I have tried to move on from Bush\Clinton and would really like to forget the past 8 years...
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No, they most certainly do not have "equal parts". Not even close. And I will not forget what Bush did because I don't want it to happen again. Perhaps if you'd remember some of this stuff too you wouldn't keep voting for the same idiots over and over and over again.
 
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BioHawk said:
No, they most certainly do not have "equal parts". Not even close. And I will not forget what Bush did because I don't want it to happen again. Perhaps if you'd remember some of this stuff too you wouldn't keep voting for the same idiots over and over and over again.
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You mean where he had OBL in sights with a green light for the kill and said "no"? Oh wait that was Bill. You mean the housing market, oh wait that was Bill. You mean the.. the list goes on.

I know exactly what Bush did and don't agree with most of it (cost me time away from those close) - but I have moved on.
 
HawktimusPrime said:
During the 1990s, former Clinton aides bragged that more aggressive enforcement of the Community Reinvestment Act pressured banks to issue riskier mortgages, lending more proof the anti-redlining law fueled the crisis."
Click to expand...

Unfortunately for your narrative, this is complete BS. The CRA loans OUTPERFORMED other loans during the crisis. Furthermore, 50% of subprime loans were made by mortgage service companies not subject to comprehensive federal supervision and another 15%-30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations. In other words, they were not covered by the CRA. And, together, they produced at least 65% of ALL SUBPRIME LOANS. The CRA loans that did crash came almost exclusively after 2001 when - guess what - enforcement of CRA standards was loosened allowing speculative loans.

If you feel like you must blame the CRA, then the fault is that it didn't apply to all mortgage institutions and that enforcement was cut post-2001. Sorry to burst your bubble.
 
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Vroom_C14 said:
You mean where he had OBL in sights with a green light for the kill and said "no"? Oh wait that was Bill. You mean the housing market, oh wait that was Bill. You mean the.. the list goes on.

I know exactly what Bush did and don't agree with most of it (cost me time away from those close) - but I have moved on.
Click to expand...

It's weird how you've moved on from Bush but still seem so hung up on Clinton. Nice to see you've "moved on"

o_O
 
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HawktimusPrime said:
I have no horse in the race Joel, because all the horses are rigged. She is disgusting, and due to your inability to realize that there are people outside the parties that want both houses to burn, you are not going to be able to carry this debate with me.

View embedded media


Here Hillary shows what she really thinks about Africans.
Click to expand...


If you're an American citizen HP, you DO have a horse in this race. Folks who wash their hands like Pontius Pilate are perhaps more guilty than those who do participate. I agree the system is rigged.......the way away from that is to remove ALL money from election campaigns and do it like they do in England...get it over with in a month. Don't blame the messengers. Hilary is no more disingenuous than any of the other candidates I have seen. The guy who really believes he has the answers is Bernie. The good doctor has no clues and less understanding of how politics works. Politics is NOT black and white. Politics is the art of compromise.
 
Without reading the story......it's been clear for a long time that a major reason for the mess was that the Clinton administration, in particular, was obsessed with telling financial institutions to lend money to people who couldn't pay it back. In the interest of "helping" those people, of course.
 
tarheelbybirth said:
Unfortunately for your narrative, this is complete BS. The CRA loans OUTPERFORMED other loans during the crisis. Furthermore, 50% of subprime loans were made by mortgage service companies not subject to comprehensive federal supervision and another 15%-30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations. In other words, they were not covered by the CRA. And, together, they produced at least 65% of ALL SUBPRIME LOANS. The CRA loans that did crash came almost exclusively after 2001 when - guess what - enforcement of CRA standards was loosened allowing speculative loans.

If you feel like you must blame the CRA, then the fault is that it didn't apply to all mortgage institutions and that enforcement was cut post-2001. Sorry to burst your bubble.
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What a complete and total waste of a post. It's also clear that your biased completely shows here. You are of course leading a huge amount of the contributions he made, but I'll continue to let you dig your hole here. You also didn't write that on your own.

GLB? Or no comment? You are implying that I'm only says the CRA?
 
joelbc1 said:
If you're an American citizen HP, you DO have a horse in this race. Folks who wash their hands like Pontius Pilate are perhaps more guilty than those who do participate. I agree the system is rigged.......the way away from that is to remove ALL money from election campaigns and do it like they do in England...get it over with in a month. Don't blame the messengers. Hilary is no more disingenuous than any of the other candidates I have seen. The guy who really believes he has the answers is Bernie. The good doctor has no clues and less understanding of how politics works. Politics is NOT black and white. Politics is the art of compromise.
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Blah, blah, blah, you're about as wise at that PBR in your hand Joel.
 
BioHawk said:
Because Bush is still directly responsible for most of the problems the country faces today. Bill? Not so much.
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Bull Fuking Shit! You can blame Bush for the Iraq war and the vacuum it created in that region. You can even blame Bush for the debt increase under his watch because of said war. But it your want to blame someone for the economic woes this country went through, pull your head out of your ass and listen to what others are saying in this thread. It's not too far from the truth. Both parties, not just the guys in the Oval office are to blame for the Great Recession. And one thing they forgot to mention was the hearing about Fannie Mae and Freddie Mac and the lack of reigning them in. Go back and what the videos of those hearing. The republicans wanted to tighten the reigns on those two organizations, while in lock step, the Democrats said they saw nothing wrong with what Fannie and Freddie were doing.

So when you say most of the problems this country is facing, name those problems and tie them to the responsible party instead of the B.S. hyperbole.
 
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HawktimusPrime said:
What a complete and total waste of a post. It's also clear that your biased completely shows here. You are of course leading a huge amount of the contributions he made, but I'll continue to let you dig your hole here. You also didn't write that on your own.

GLB? Or no comment? You are implying that I'm only says the CRA?
Click to expand...

I was responding to your post which, as noted, is complete BS. And feel free to copy and paste any portion of my post...in quotes...to see if you get a hit.

And work on your grammar - it's atrocious.
 
Jan Itor said:
Bull Fuking Shit! You can blame Bush for the Iraq war and the vacuum it created in that region. You can even blame Bush for the debt increase under his watch because of said war. But it your want to blame someone for the economic woes this country went through, pull your head out of your ass and listen to what others are saying in this thread. It's not too far from the truth. Both parties, not just the guys in the Oval office are to blame for the Great Recession. And one thing they forgot to mention was the hearing about Fannie Mae and Freddie Mac and the lack of reigning them in. Go back and what the videos of those hearing. The republicans wanted to tighten the reigns on those two organizations, while in lock step, the Democrats said they saw nothing wrong with what Fannie and Freddie were doing.

So when you say most of the problems this country is facing, name those problems and tie them to the responsible party instead of the B.S. hyperbole.
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Junior gets most of the credit for this. It was his administration that refused to oversee the loan mess but chose to look the other way as the banksters stole "we the people" blind and paid themselves first. Clinton does not get a "free pass" here but guys, this happened well into Junior's last term. If your gonna rewrite history....get it right.
 
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joelbc1 said:
Junior gets most of the credit for this. It was his administration that refused to oversee the loan mess but chose to look the other way as the banksters stole "we the people" blind and paid themselves first. Clinton does not get a "free pass" here but guys, this happened well into Junior's last term. If your gonna rewrite history....get it right.
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One of these days, you'll open a book or something with the facts and educate yourself on how this all happened instead of sticking with your us vs them mentality. Until then, go sell your talking point to someone else, I'm not buying it.

how soon you forget this;

https://search.yahoo.com/yhs/search...in+2006&ei=UTF-8&hspart=mozilla&hsimp=yhs-001
 
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Jan Itor said:
One of these days, you'll open a book or something with the facts and educate yourself on how this all happened instead of sticking with your us vs them mentality. Until then, go sell your talking point to someone else, I'm not buying it.
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Jan....Do yourself a favor and read Dylan Ratigan's "Greedy Bastards"....you will gain tremendous insight. Yes Bill C. gets some heat from Ratigan (along with Robert Rubin and Treasury Sec. ) but the bankster issue came to fruition under Junior's rule. His (Junior's) administration repeatedly chose to look the other way and told regulators to not regulate. Ratigan will back his case up with a lot of factoids, also.
 
joelbc1 said:
Jan....Do yourself a favor and read Dylan Ratigan's "Greedy Bastards"....you will gain tremendous insight. Yes Bill C. gets some heat from Ratigan (along with Robert Rubin and Treasury Sec. ) but the bankster issue came to fruition under Junior's rule. His (Junior's) administration repeatedly chose to look the other way and told regulators to not regulate. Ratigan will back his case up with a lot of factoids, also.
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Dylan Jason Ratigan (born April 19, 1972) is a New York Times best-selling author and former host of MSNBC's The Dylan Ratigan Show.

So what you're saying is the GOP didn't attempt to regulate Fannie and Freddie, and the Democrats didn't block it? Answer that Einstein. Why did the Democrats say in 2004 that that Fannie and Freddie were fine and should be encouraged to give out more affordable loans rather than setting up regulations on them?

You can honestly say the Democrats in the 2000s didn't have a direct hand in the crisis?

Factoids? Tell me the Democrats didn't block new regulations on Fannie and Freddie. And then back it up with factoids.
 
Jan Itor said:
Dylan Jason Ratigan (born April 19, 1972) is a New York Times best-selling author and former host of MSNBC's The Dylan Ratigan Show.

So what you're saying is the GOP didn't attempt to regulate Fannie and Freddie, and the Democrats didn't block it? Answer that Einstein. Why did the Democrats say in 2004 that that Fannie and Freddie were fine and should be encouraged to give out more affordable loans rather than setting up regulations on them?

You can honestly say the Democrats in the 2000s didn't have a direct hand in the crisis?

Factoids? Tell me the Democrats didn't block new regulations on Fannie and Freddie. And then back it up with factoids.
Click to expand...

I never said the Dems were "innocent"...just sayin' Junior told the regulators to back off and allowed the bubble to expand and finally burst. The bubble grew and burst on Junior's watch. True Ratigan used to have a show on MSNBC as he had business shows on CNBC before that. Ratigan frequently speaks of an unholy alliance between big business and government. Being a best-selling author on the NYTimes best-seller list is hardly anything to be ashamed about. He writes books that folks read. He is a successful author...and "Greedy Bastards" is certainly worth your time, if you want to understand what the banks did to the "we the peoples" and the government failed to oversee, out here in America. It was a crime and not one greedy bastard went to jail.
 
joelbc1 said:
I never said the Dems were "innocent"...just sayin' Junior told the regulators to back off and allowed the bubble to expand and finally burst. The bubble grew and burst on Junior's watch. True Ratigan used to have a show on MSNBC as he had business shows on CNBC before that. Ratigan frequently speaks of an unholy alliance between big business and government. Being a best-selling author on the NYTimes best-seller list is hardly anything to be ashamed about. He writes books that folks read. He is a successful author...and "Greedy Bastards" is certainly worth your time, if you want to understand what the banks did to the "we the peoples" and the government failed to oversee, out here in America. It was a crime and not one greedy bastard went to jail.
Click to expand...
 
joelbc1 said:
I never said the Dems were "innocent"...just sayin' Junior told the regulators to back off and allowed the bubble to expand and finally burst. The bubble grew and burst on Junior's watch. True Ratigan used to have a show on MSNBC as he had business shows on CNBC before that. Ratigan frequently speaks of an unholy alliance between big business and government. Being a best-selling author on the NYTimes best-seller list is hardly anything to be ashamed about. He writes books that folks read. He is a successful author...and "Greedy Bastards" is certainly worth your time, if you want to understand what the banks did to the "we the peoples" and the government failed to oversee, out here in America. It was a crime and not one greedy bastard went to jail.
Click to expand...


You say Junior told the regulators to back off. Yet it was the republicans that were trying to legislate more regulation on Fannie and Freddie, only to be thwarted by the Democrats. And don't forget the derivatives that weren't regulated thanks to Larry Summers, Clinton, and yes, The Republican Senate leader that co-authored legislation to allow derivatives to go unregulated.

You keep trying to pin most of this on GWB because it happened on his watch. Well it started on Clinton's and the democrats blocked legsilation to regulate Fannie and Freddie on GWB's watch. My point is there is plenty of blame to go around. You try to keep telling us it was mostly GWB's fault. That's a B.S. statement, which tells me you're uneducated on the matter.
 
Lone Clone said:
No, sadly, I do not think that will happen.
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He evidently picked up a book to read on the subject, but obviously one that skewed the events to support their agenda. The facts are out there. Not in the book he read if he actually buys into the thoughts that GWB was the one with most of the blame. He gets plenty of blames, but to say most of it? B.S.
 
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