FFS,
We know the cause of the meltdown; subprime loans with dramatically weakened standards. What does the Fed have to do with that? NOTHING.
Federal deficit grows by 32% to $900B
- Thread starter LV426
- Start date
FFS,
We know the cause of the meltdown; subprime loans with dramatically weakened standards. What does the Fed have to do with that? NOTHING.
I'm Gen X, asshole, so go fuck yourself.
Secondly, you're the one with the God complex because you think every shitty opinion you have must be taken into consideration, is valid, and is wholly entitled, just because your shitty little brain managed to come up with the opinion, half-assed, in the first place.
cawacko
Well-known member
Wrong. Not just wrong, very wrong.
https://www.forbes.com/sites/richar...was-a-failure-of-government-not-free-markets/
cawacko
Well-known member
Yeah, it's a God complex to have opinions and discuss them on a message board.
So you can take this Op-Ed that confirms your bias, and shove it up your fat, geriatric ass.
The Fed had nothing to do with Bush's regulators dramatically weakening lending standards for subprime. Do I really, really need to post the quotes from Bush's Working Group and The Federal Reserve that says those lending standards are what caused the crisis?
“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”
http://www.treasury.gov/resource-cen...s update.pdf
"Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "
http://www.federalreserve.gov/newsev...3_analysis.pdf
cawacko
Well-known member
Wait, the federal reserve claims no responsibility? Noooooo...
I don't understand what you want...do you want someone to congratulate you for coming up with a half-assed opinion?
Fucking idiot.
Can't you read?
The Bush Working Group isn't the Federal Reserve, and they told you point blank what caused the turmoil.
Now you're in gaslighting territory, which isn't surprising given who you are and how you behave.
So you just ignore what Bush's Working Group says to half-assedly gaslight the Federal Reserve, an institution you apparently know nothing about.
Food stamp fraud........
You racist fucks ripped off the entire country when you crashed the economy back in 2008, bailing out the banks and wall street...but you want to talk about measly food stamps because your racist history teaches you it's only Blacks on food stamps.
You stupid fucks need to go somewhere and sit the fuck down with this lying nonsense.
FALSE.
Pointing out your hypocrisy on the debt and deficit doesn't mean we share your hypocritical position on it.
You're just trying to frame it that way so you don't have to answer for your ideological hypocrisy.
What a fucking fraud.
cawacko
Well-known member
I love that "given who you are". Like you know anything about anyone. You're not Rakim, you're not God. Hate to break it to you.
"The Bush working group". Like you care at all what something Bush related has to say. Confirmation bias
Don't spend my tax dollars feeding them lazy niggas.........
Let them eat in prison.
Lying cowards.
This is Boomer entitlement at its finest.
Crying and whining because I'm being mean to you by shutting your shitty opinions and ideas down.
Grow a fucking backbone.
This is gaslighting.
You simply won't accept anything that contradicts your inherent bias that the Federal Reserve, and not Conservative deregulation and lax oversight, is what caused the crisis. The Fed had nothing to do with Bush choosing to weaken lending standards for subprimes. Those weakened standards are what resulted in the massive increase in the volume of subprime loans. None of that happened because of The Fed.
Remember before how I said nothing in the economy happens without reason? This is another example of that. The increase in the volume of subprime lending beginning in 2004 is directly attributed to the decline of lending standards for those same subprimes beginning in 2004. Who do regulators report up into? The Executive Branch. So the Executive Branch, which was Bush and the Conservatives, chose to have its regulators stop enforcement of lending standards in order to create a subprime bubble.
That has zero to do with the Fed.
Because they are to cowardly to tell the truth about it.
They don't want their tax dollars going to help lazy niggas. .........THAT'S THE ONLY REASON.
cawacko
Well-known member
I'm Gen X Junior.
cawacko
Well-known member
How about you take your own advice. Pretty clearly you think you shit gold but you're wrong homeboy. You're free to ignore facts. You can cuss and name call all you want but you are still wrong
Yeah...
I have one request for you dude...can you please refrain from using slurs like the n-word? I know you're just trying to put what they truly think and believe into words, so I appreciate it. But I think it sets a bad precedent. I think you can use regular personal attacks.
I haven't ignored any facts.
All you've done is post one single Op-Ed that doesn't explain the connection between the weakened lending standards and the massive increase in the volume of subprime lending.
You lazily thought you could pass that shit off as a "fact", but it's not.
FACT: The Fed has nothing to do with the standards lenders have for loans
FACT: The Fed had nothing to do with Bush's decision to dramatically weaken lending standards for subprime loans
FACT: Weak subprime loans from 2004-7 are what triggered the crisis
FACT: The Fed had lowered interest rates three years before any bubble appeared.
FACT: In 2004, the year the subprime bubble started, the Fed was actually raising interest rates.
So the Fed wasn't responsible for the subprime bubble that started in 2004 because the Fed was raising rates throughout that year.