On Mon, 4 Jan 2016 05:24:53 -0500, "Mr. Luddite" wrote:

On 1/4/2016 1:15 AM, Califbill wrote:
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.



It was Fannie / Freddie and Wall Street. Wall Street and the banks were
able to do the dastardly deeds for 2 reasons. Clinton signing
deregulation of banks and brokerages, and FannieFredie buying all the crap
mortgages. Raines should have paid back all the $100 million he and his
number 2 got in phony bookkeeping bonus and gone to jail!



Amazing how history becomes rewritten in Boating All Out's mind.

Anyone can cherry pick articles about certain time periods or about
certain policies in place but you have to look at the whole picture
to get the correct story.

He's an expert in ISIS though.
--

Ban idiots, not guns!