wf3h wrote:
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****'.

No facts. You didn't present facts, just bull****.


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.

Uh....YES...


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.

CRA, period.


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 [lack of refutation snipped]


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

I mean that it isn't wrong. CRA isn't the whole story, but it is the
first chapter of the whole story.