On Sep 23, 11:40*pm, Wilson Woods wrote:
wf3h wrote:

glad to see

You spouted bull****. *No one is glad to see it.

the right wing ALWAYS calls facts 'bull****'. they have no choice, as
you demonstrated. you didn't come back with any info.

uh...no. mortgage lending had little to do with it. colllateralized
debt obligantions, which ballooned from $920B to SIXTY TWO TRILLION
dollars under free market fundamentalism was responsible

Your figures are meaningless without some time frame to them.

1997 to 2007 when your free market fundamentalist buddies, after
putting their cocks in your mouth to have you hum their songs, raped
the economy and had useful idiots like you tell us how wonderful it
was.




* CRA under Carter, and the destruction of mortgage
lending standards begun under Clinton and continued by Bush, are what
put us into a recession.

hey genius...the largest mortgage lender to go bankrupt was
countrywide. and it wasn't covered under the CRA.

You are *COMPLETELY* full of ****. *There were myriad ways that
Countrywide was "covered" under CRA

uh...no. again you keep making statements. where's your data? the
amount of mortgages that were placed by companies covered by CRA was a
small fraction of all mortgages. it didn't even cover the nation's
LARGEST mortgage provider.

but you go ahead...keep sucking the dicks of the right. i'm sure
they're laughin their asses off

http://www.businessinsider.com/three...UyYmUyYjM5N2Qy...

* * "WaMu bank, which is now defunct, once boasted of having made $375
* * billion in CRA loans; the Fed gave Countrywide Bank an award after it
* * made $600 billion in such loans. It, too, was bankrupted by the loans."http://www.lewrockwell.com/dilorenzo/dilorenzo177.html


hey moron. these were VOLUNTARY. they were not OBLIGATED, as smaller
banks WERE, to lend under these conditions.

they just decided that assholes like YOU would think this was a
wonderful example of the free market at work


CRA was just the beginning of a politicized loosening of lending
standards. *A mortgage lender didn't have to be "covered" by CRA in
order to be affected by it. *Once Clinton's reinforcement of CRA and his
administration's intense pressure on Freddie Mac and Fannie Mae to
reduce their underwriting standards for the loans they would guarantee,
the flood was on.

CRA didn't do it all by itself, but it was the *first* step in a 30 year
deterioration of lending standards that goddamned ****ing "liberals"
demanded.

says the bobble headed right wing sock puppet, ignoring the REAL
problem...the massive expansion in CDO's which, in 2007, were
larger than the entire GDP of the planet earth, at 62 TRILLION dollars



Boy, you sure do get a lot of things wrong.-

really?

Yes.

then how is it that you didn't even know that your whole
argument about the CRA was wrong?

It isn't wrong.

you mean other than the fact the CRA didn't cover the nation's largest
lenders AND you ignored the 2 order of magnitude increase in
CDO's?

i see. it appears that, if you can't count it on the 6 fingers of your
hands, you think it has no meaning.

to the RATIONAL person, 62 TRILLION is ALOT of money. to the right
wing, NO amount of money is TOO MUCH for the RICH