On 1/4/2016 12:26 AM, Boating All Out wrote:
In article ,
says...

On 1/3/2016 9:14 PM, Boating All Out wrote:
In article ,
says...


Which brings us back to a often forgotten fact. The "great recession"
that began on Sept 15th, 2008 was not the result of GWB economic
policies or even his spending on the wars in Iraq and Afghanistan. The
gunpowder that ignited the recession and near collapse of the economy
was the real estate bubble burst that left banks holding worthless
loans. This was a direct result of Clinton era economic policies with
help from people like Barney Frank. He's smart. He exited stage left
when the heat started getting too hot.

You're insulting the facts.

https://www.youtube.com/watch?v=CwPG-7FTkyM

I can't even count the times I heard GWB crowing about
"home ownership".


On who's watch did the sub-prime loan fiasco start?


On GWB's watch. With a Republican Congress.
You already forgot?

http://www.federalreservehistory.org.../DetailView/55
"In the early and mid-2000s, high-risk mortgages became
available from lenders who funded mortgages by repackaging
them into pools that were sold to investors. New financial
products were used to apportion these risks, with private-
label mortgage-backed securities (PMBS) providing most of
the funding of subprime mortgages."

http://knowledge.wharton.upenn.edu/a...w-we-got-into-
the-subprime-lending-mess/
"The looser credit standards of the past decade brought a
mortgage boom, with Americans holding 2.5 times as much
mortgage debt in 2005 as in 1997, a period when gross
domestic product grew by just 50%, Wachter and Green say.
Subprime mortgages made up 22% of new loans in 2005,
compared to 8% in 2003, and in 2004 more than 30% of all
mortgages carried adjustable rates, up from about 10% in
2001."

It's true GBW didn't recognize the impending problem it caused
and didn't stop it but it originated with Clinton, lead in good
part by Barney Frank. Frank later denied ownership of the concept
when the **** hit the fan of course.

Yeah, sure. And the Founding Fathers started it all.
So it's all their fault.
I don't why you blame Bill Clinton and Barney Frank, but
hey, be my guest. It won't do anything good for you, except
maybe give you a false "axis of evil" to focus on.
BTW, Freddie/Fannie didn't cause the crisis - it was the
private mortgage market, and Wall Street.
Makes me wonder where you've been the last 10 years.


You can't be serious. The origins that led to the housing market
collapse in 2008 started in 1995 ... more like 21 years ago, not 10.
Actually, you could say that it started even before that under GHWB's
term except it was Clinton who put pressure on Fannie May to increase
the ratio of low income, higher risk loans. Barney Frank had much to do
with this. Clinton rewrote the Community Reinvestment Act, which put
added pressure on banks to lend in low-income neighborhoods.

The balloon that was about to burst wasn't obvious until about 2006 when
some financial and mortgage experts began to warn of a crash.
Until then, housing prices were going up by 15, 20 percent or more.
Don't you remember all the house "flippers" that were operating then?