Teflon Don
I'm back baby
I reject your premise out of hand. Like I said posting links does not confer knowledge nor understanding.
You are a blowhard
Why is it the Bush Mortgage Bubble? Because Bush created it.
- Thread starter LV426
- Start date
I reject your premise out of hand. Like I said posting links does not confer knowledge nor understanding.
You are a blowhard
Ah another lying Op-Ed.
So Barney Frank only said that those entities weren't at risk because Bush's Treasury Secretary said so in testimony before the GOP Congress in 2003, as I link below.
So Barney Frank only said that those entities weren't at risk because Bush's Treasury Secretary said so in testimony before the GOP Congress in 2003, as I link above.
The White House is also the one who put the brakes on any GSE reform:
"Strong opposition by the Bush administration forced a top Republican congressman to delay a vote on a bill that would create a new regulator for mortgage giants Fannie Mae and Freddie Mac."
https://www.marketwatch.com/story/oxley-pulls-fannie-freddie-bill-under-heat-from-bush
"Despite what appeared to be a broad consensus on GSE regulatory reform, efforts quickly stalled. A legislative markup scheduled for October 8, 2003, in the House of Representatives was halted because the Bush administration withdrew its support for the bill"
https://pdfs.semanticscholar.org/e31c/f28389f421cbc0a45ce0ade0f45af9c38cd2.pdf
Hmmm...so "broad consensus" would seem to indicate both Democrats and Republicans supported the reform.
So the question is, why did Bush and the Conservatives kill GSE reform in the Fall of 2003????
Jerry Mathers
Was it me?
u r redeemed. now go, and sin no more.
Right, but Bush and the Conservatives were the ones driving all of this, and the reason is because from 2001-2003, economic growth was pathetic, the tax cuts didn't deliver on their promises, yet Bush was up for re-election and if the economy was going to continue to grow anemically as it did from 2001-2003, then Bush would lose.
So Bush took the steps necessary to inflate a housing bubble so that the economy would look like it was growing because of the tax cuts when it was really growing because of debt.
Bush even campaigned on that message in 2004:
Bush Ties Policy to Record Home Ownership
March 26th, 2004
Touting his tax cuts as the economy's savior — and pointing to the strong housing market as proof — Bush said "more people own their own home now than ever." More than 50 percent of minorities owned their own homes in the last three months of 2003 for the first time ever, the president said.
https://www.foxnews.com/story/bush-ties-policy-to-record-home-ownership
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
Jerry Mathers
Was it me?
if they had been allowed to fail, people would have learned not to trust bankers.
even a fiat system needs regular injections of realities.
Luciferians who claim to understand balance, are getting it all wrong.
nothing offends me more than bad magicians.
even a fiat system needs regular injections of realities.
Luciferians who claim to understand balance, are getting it all wrong.
nothing offends me more than bad magicians.
Getin the ring
Verified User
LV426 is worse than a blowhard, he's a moron
at some point he needs to realize he supports a party who held a good man like Brett Kavanaugh over the coals for acting like a 16 year old when he was 16, but the same party worshiped a man for years afterward, ted kennedy, that drunkendly drove a girl off a bridge and left her at the bottom of the ocean while he went home and slept it off.
they even built memorials to him after he died never mind voted him into office over and over unchallenged, he was even head of the ethics committee
let that sink in
No they weren't. Not in 2003. Certainly not in 2004.
You would also need to provide proof of this claim that Bush's regulators ceased enforcement of lending standards for subprime loans that had existed for 10 years because the lenders were being sued in 2004.
You'll never be able to do that.
A lying Op-Ed doesn't change the fact that it was Bush's regulators who stopped enforcing lending standards, not the lenders themselves.
Getin the ring
Verified User
LV426 is worse than a blowhard, he's a moron
at some point he needs to realize he supports a party who held a good man like Brett Kavanaugh over the coals for acting like a 16 year old when he was 16, but the same party worshiped a man for years afterward, ted kennedy, that drunkendly drove a girl off a bridge and left her at the bottom of the ocean while he went home and slept it off.
they even built memorials to him after he died never mind voted him into office over and over unchallenged, he was even head of the ethics committee
let that sink in
at some point he needs to realize he supports a party who held a good man like Brett Kavanaugh over the coals for acting like a 16 year old when he was 16, but the same party worshiped a man for years afterward, ted kennedy, that drunkendly drove a girl off a bridge and left her at the bottom of the ocean while he went home and slept it off.
they even built memorials to him after he died never mind voted him into office over and over unchallenged, he was even head of the ethics committee
let that sink in
You are the one blaming FDR for Bush's actions 70 years after FDR died and 10 years after the first subprime mortgage was ever issued.
Now that is simplistic stupidity that is incredibly fucking lazy.
Jerry Mathers
Was it me?
the seven hills are watching. globalists have fucked it up.
OH OK, then please provide the line of text from the bill Clinton signed that said regulators can stop enforcing lending standards for subprime loans 3 years after Clinton left office.
Oh, and Bush took office in January 2001, not 2000 you stupid fucking bastard.
Yet, I'm the one who is capable of making and defending my argument, and you're the one tapping out with this impotence.
You're a phony and I see right fuckin' through you.
The problem is that Conservatism was already failing, and that much was evident in the pathetic economic growth from 2001-2003; growth that didn't deliver on the promises made of the tax cuts that were supposed to spur it.
So Conservatives panicked and inflated a housing bubble in time for the 2004 election so they could point to the growing economy and credit it to the tax policy.
But we all know now that was a crock of shit.
Jerry Mathers
Was it me?
now he pretends resugulators are to blame for clear banker duplicity.
on edit: yes, resugulators.
What a little bitch.
So rather than make an argument as to why Bush isn't to blame, you fall back on impotent whining.
What a little bitch.