You don't know what the fuck you're talking about.
Federal regulators work for the Executive Branch, not the Federal Reserve.
How is it possible you know less than nothing about this?
This is why Trump will be reinstated soon.
- Thread starter Joe Capitalist
- Start date
You don't know what the fuck you're talking about.
Federal regulators work for the Executive Branch, not the Federal Reserve.
How is it possible you know less than nothing about this?
It's literally what happened.
"There was a lack of regulatory oversight during the Bush administration ... that's one of the reasons we are in the mess that we are in... Many bad mortgage loans and other loans were made in part because regulators were not empowered and were not playing their proper role."
(Mark Zandi, NPR, 9/16/08)
Zandi is non-partisan.
Stop being a crybaby and prove it's a lie.
I don't believe you're capable of having a debate about this because you don't know the first thing about this subject, and you're just copying and pasting from other people because you can't do this on your own.
More asinine lies and stupidity. Of course, I gave you a link to the causes of the collapse, your predictable response is to flail and lie harder. Be gone you worthless, partisan, low IQ maggot.
What you gave me was incomplete and you didn't even read it fully yourself, which is why you can't defend any of it here, and which is why all you do is whine like a crybaby that I'm lying, yet you're the one who can't disprove anything I've posted.
Clinton imposed a rule on the GSE's in 2000 that prevented them from buying risky loans, then YOUR GUY BUSH reversed that rule in 2004.
It's right there, plain as day:
"(In 2000) HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay."
"In 2004, the 2000 rules were dropped and high‐risk loans were again counted toward affordable housing goals."
It never takes long for lunatic, low IQ, lying Marxist morons like you to go full retard when confronted by the facts and truth.
I'm so glad you brought this up because Bush's Treasury Secretary told Congress in 2003 that there was no risk to GSE's:
And when it came to protecting the GSE's, it was the Bush Administration who put the kibosh on that regulation in 2003:
And that's not really surprising since in 2003, the same Bush Administration killed a bipartisan GSE reform bill:
You, Bush, and the GOP did everything you could to inflate a housing bubble to make it look like the tax cuts were responsible for everything.
Because at the time, there was no risk...this hearing in 2004 happened before Bush's regulators ceded regulation to the lenders.
And there was no risk, even according to Bush's Treasury Secretary in 2003:
The reason there was no risk was because of the HUD rules that Clinton imposed in 2000 that your guy Bush the Dumber reversed in 2004.
And if there was some major risk to GSE's why did you and Bush kill GSE reform in 2003?
What the fuck were you thinking?
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I don't mind it because it lets me build a clear cut case for why his shitty beliefs are the cause of the economic collapse.
BidenPresident
Verified User
No problem. I find him boring.
Be less shrill, stupid and triggered:
Regulatory Authority
A bank's primary federal regulator could be the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, or the Office of the Comptroller of the Currency. Within the Federal Reserve System are 12 districts centered around 12 regional Federal Reserve Banks, each of which carries out the Federal Reserve Board's regulatory responsibilities in its respective district. Credit unions are subject to most bank regulations and are supervised by the National Credit Union Administration. The Financial Institutions Regulatory and Interest Rate Control Act of 1978 established the Federal Financial Institutions Examination Council (FFIEC) with uniform principles, standards, and report forms for the other agencies.
https://en.wikipedia.org/wiki/Bank_regulation_in_the_United_States
Joe Capitalist
Racism is a disease
Truth Detector is a racist. I put all racists on IGNORE. I have no interest to converse with fucking racists. They are unAmerican POS.
^This....is a brain in full retard. Yeah asshat, the citizens want the President to decide financial oversight. You're really too stupid for words.
NOT ENFORCEMENT, ASSHOLE.
The Fed set out uniform principles and standards that are enforced by other agencies.
Do you not read what you post before you post it??????
OMFG...regulators work for the executive branch...that is who hires them.
The Federal Reserve set out rules and principles for other agencies to enforce and follow...you know, like what you literally quoted.
What a dipshit.
