1. I felt this deserved it's own thread...

    The reasons for the collapse are evident. The drive for home ownership during the 90's, and first part of this decade, have backfired on us. I would love to know who's idea it was to drive up home ownership. Basically, things stayed about the same for 50 years, then in the 90's, things changed drastically...why?



    I know what your thinking...continue reading. It's worth it.....


    Please...keep reading...


    confused:...yep, me too...continue..


    Here it comes...the best part....


    Wow!


    http://www.huduser.org/publications/txt/hdbrf2.txt

    Thoughts?
  2. And...once you break something, you have to try and fix it...

    Emergency Home Ownership and Mortgage Equity Protection Act of 2007 -

    http://www.cbo.gov/ftpdocs/89xx/doc8968/hr3609.pdf

    I love the part about estimated cost to tax payers and the private sector... :rolleye33:
  3. From Nancy Pelosi....

    http://speaker.gov/issues?id=0053

    And now the Big Bail Out...

    [MEDIA]http://www.youtube.com/watch?v=xTnbe53Tv2w[/MEDIA]

    Please! Please! Watch the below video. After reading everything above, what do you think about their statements?

    [MEDIA]http://www.youtube.com/watch?v=GM-Km47ius0[/MEDIA]
  4. not buying it. this is on the mortgage lenders who sold mortgages without qualifying the buyers and lying to the buyers about terms of the loan (private industry), rating agencies that called this 'aaa' debt when it wasn't (private industry), brokerage houses that bought this to increase their own yield for a few years and sold it to the public(private industry, see citigroup and merrill lynch writedowns), buyers not paying close enough attention to the fine print, federal reserve being over accommodative in 2002 2005 (govt), and lack of reguation of the banking sector by the treasury (govt). did clinton's desire to expand homeownership play a role? maybe. but what role? no way this is all on clinton.
    1 person likes this.
  5. That is a reasonable analysis. One the dems don't share. You named mortgage lenders, rating agencies, brokerage houses, buyers and the federal reserve. You even acknowledge that Clinton could share some responsibility. Dems only blame repubs, and by extension, Bush, and by further extension McCain.

    Personal accountability? That's dead.
  6. the final problems that hurt people were the massive inflation in house prices, and interest rates that dipped too low and stayed down too long in 2002 - 2005. This was all under repub president, congress and fed reserve control. who ya gonna blame, the dems?
  7. You first post was reasonable, this last one, not so much. There is a great deal of blame to go around and I didn't say that repubs had no hand in it - they share it. However, laying it all at the feet of this administration is disingenuous and false. Your previous post showed that, so continue the debate - with yourself.
  8. if you take my two posts together, I said exactly what you did. plenty of blame to go around (fisrt post), repubs have their share of it (second post). i could not possibly be laying it all at their feet after the first post. i don't see how you would have gotten that idea.
  9. Guess I misunderstood you. The second post seemed in conflict. I agreed with your first post but pointed out that dems don't mention the combination of reasons, and instead only blame the republican admin. It's just political pandering.
  10. Here's your former HUD secretary under Clinton...

    Pardoned by Clinton, convected felon Henry Cisneros
    [​IMG]

    So, their plan to fix everything is to award more stimulus packages and continue to drive lenders to people who can not afford to pay back the loans? How the hell does this make sense?

    I should also mention that Henry, after starting this mess, then profited from it by joining the board of directors of the now bankrupt Country Wide Finanicial Corp....

    http://www.mysanantonio.com/news/MYSA021708_01A_Cisneros-Countrywide_3584118_html19567.html

    Follow the money and special interest.....It's not that hard.

    Henry started this, under Clinton, then went to work on the board with the largest mortgage lender in the country at the time. He then walked away right before the bottom fell out...after becoming extremely wealthy. You've got to be kidding me.