Populist globalist populist?
Globalist globalist populist populist populist globalist, globalist.
Why is it the Bush Mortgage Bubble? Because Bush created it.
- Thread starter LV426
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Populist globalist populist?
Globalist globalist populist populist populist globalist, globalist.
Funny, because the Bush Administration and the Federal Reserve Board of Governors both say that what caused the crisis were subprimes issued between 2004 and 2007, not prior to 2004.
Teflon Don
I'm back baby
Sounds like the OP already has her mind made up and isn’t interested in opposing views
One counter argument which the OP fails to think about (not surprising) is that Canada was virtually unscathed.
Why is that? Why would Canada have no housing bubble?
Only simplistic shallow thinkers try to take a complex issue and try to distill it’s cause down to one person.
We get it anything bad is ALWAYS a republicans fault and the democrat party is perfect. The democrat party always makes perfect decisions and their policies are 100% effective with ZERO unintended consequences.
One counter argument which the OP fails to think about (not surprising) is that Canada was virtually unscathed.
Why is that? Why would Canada have no housing bubble?
Only simplistic shallow thinkers try to take a complex issue and try to distill it’s cause down to one person.
We get it anything bad is ALWAYS a republicans fault and the democrat party is perfect. The democrat party always makes perfect decisions and their policies are 100% effective with ZERO unintended consequences.
Jerry Mathers
Was it me?
you have officially lost the argument, fascist.
There are no opposing views on the truth. There is only the truth. The truth is that it was the dramatic weakening of underwriting standards for subprime loans beginning in 2004 that caused the bubble and subsequent crisis, and the Bush Administration and Federal Reserve Board of Governors both say so:
“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.”
https://www.treasury.gov/resource-center/fin-mkts/Documents/q4progress 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. "
https://www.federalreserve.gov/images/20081203_analysis.pdf
Who was President in 2004?
Who controlled Congress in 2004?
Who controlled SCOTUS in 2004?
Y'all did.
cancel2 2022
Canceled
Plenty of people to blame you arrogant prick. However right up there is Billy BJ. Amongst his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation.
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877322,00.html
Canadian regulators didn't dramatically weaken enforcement of lending standards for subprime loans, but Bush's regulators did starting in 2004.
Wrong.
As you see from what I quoted, Clinton isn't to blame since the crisis is rooted in the performance of subprime mortgages issued from 2004-2007, like Bush's Working Group and the Federal Reserve Board of Governors all say:
“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.”
https://www.treasury.gov/resource-center/fin-mkts/Documents/q4progress 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. "
https://www.federalreserve.gov/images/20081203_analysis.pdf
There is no other blame to go around than on Bush and Conservatives whose regulators ceased the enforcement of lending standards for subprime loans, beginning in 2004, for the express purpose of inflating a mortgage bubble to give the impression the economy was growing as a result of tax cuts, when it was actually growing as a result of debt.
Easy; Canadian regulators didn't dramatically weaken the enforcement of lending standards for subprime loans. But Bush and the Conservatives did, and they did that specifically to inflate a housing bubble to make the economy look like it was growing because of the tax cuts, when it was actually growing because of debt.
Only frauds and cowards try to socialize blame for the direct actions taken by them, like dramatically weakening underwriting standards for subprime loans, beginning in 2004.
Subprimes made up just 10% of all new mortgages in 2003, but that share grew to 40% by 2006.
Going from 10% where it stood for a decade, up to 40% in just two years is a bubble.
Watch as Democrats attack the regulator and race hustle in the hearings in 2004 trying to get a handle on the impending crisis; yes the DEMOCRATS are the reason nothing was done folks:
Fannie Mae/Freddie Mac Hearings 2004
Watch as Democrats attack the regulator and race hustle in the hearings in 2004 trying to get a handle on the impending crisis; yes the DEMOCRATS are the reason nothing was done folks:
Fannie Mae/Freddie Mac Hearings 2004
Do you get it?
Because it's doubtful you do.
Instead, you bleat about how unfair it is that your shitty beliefs are called to the mat for their consequences, so you have to play a victim and whine like a little bitch.
Eagle_Eye
Well-known member
Sorry Mr. Economist but
https://www.thebalance.com/what-caused-the-subprime-mortgage-crisis-3305696
Thus it was caused by none other than William Jefferson Clinton not Bush.
Watch as Democrats attack the regulator and race hustle in the hearings in 2004 trying to get a handle on the impending crisis; yes the DEMOCRATS are the reason nothing was done folks:
Fannie Mae/Freddie Mac Hearings 2004
The regulators were attacked by brain dead Democratic Party of the Jackass hacks who declared there was NOTHING wrong with the CRAs.
Watch as Democrats attack the regulator and race hustle in the hearings in 2004 trying to get a handle on the impending crisis; yes the DEMOCRATS are the reason nothing was done folks:
Fannie Mae/Freddie Mac Hearings 2004
Such a melodramatic drama queen!
What a fucking crybaby.
Democrats had nothing to do with your guy Bush dramatically weakening underwriting standards for subprimes and creating a bubble, while Conservatives the whole time denied there even was a bubble, like Larry "I've been wrong about everything my entire life" Kudlow (who is also Trump's top economic adviser) said in 2005:
The Housing Bears Are Wrong Again
June 20th, 2005
Homebuilders led the stock parade this week with a fantastic 11 percent gain. This is a group that hedge funds and bubbleheads love to hate. All the bond bears have been dead wrong in predicting sky-high mortgage rates. So have all the bubbleheads who expect housing-price crashes in Las Vegas or Naples, Florida, to bring down the consumer, the rest of the economy, and the entire stock market.
https://www.nationalreview.com/2005/06/housing-bears-are-wrong-again-larry-kudlow/
It's obvious you don't get much of anything.
Watch as Democrats attack the regulator and race hustle in the hearings in 2004 trying to get a handle on the impending crisis; yes the DEMOCRATS are the reason nothing was done folks:
Fannie Mae/Freddie Mac Hearings 2004
Populist globalist populist globalist globalist globalist populist.
Populist globalist globalist populist.