Capt.Storm Posted June 16, 2016 Author Share Posted June 16, 2016 So there you have it. Billy started it . Then it took a few years for the plan to fail. Then you have the follow up from Highmark. Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 17, 2016 Share Posted June 17, 2016 8 hours ago, Capt.Storm said: So there you have it. Billy started it . Then it took a few years for the plan to fail. Then you have the follow up from Highmark. They just don't get it Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted June 17, 2016 Author Share Posted June 17, 2016 (edited) 9 hours ago, Highmark said: Even that idiot Barney Frank eventually got it. http://www.theatlantic.com/business/archive/2010/02/barney-frank-the-poor-should-rent-not-own/35041/ In its final installment of the Big Think's "Went Went Wrong" Series on the financial crisis, they interviewed Financial Services Committee Chairman Barney Frank (D-MA). Much of the interview was predictable: Frank mostly explained what anyone closely following the financial regulation push in Congress already knew. But there was one fascinating gem in discussing where Fannie and Freddie went wrong. Frank views ushering the poor to own homes as a mistake and believes they should rent instead. Frank was responding to the question about how Fannie and Freddie could be structured to avoid moral hazard and a too cozy relationship with the regulators. After stating that we should separate the liquidity creation function from the subsidy objective (which we already knew he supported), he said: "I think the answer is you separate out the function of providing the equity in general for the mortgage market and doing some subsidy and in my judgment, the subsidy again, as I said before, should be focused on affordable rental housing, not in pushing low income people into owning homes that they can't afford." This is a good post 34 minutes ago, racer254 said: They just don't get it You would think the above would clear thing up some with what frank had to say about the freddies. Edited June 17, 2016 by Capt.Storm Quote Link to comment Share on other sites More sharing options...
Rod Posted June 17, 2016 Share Posted June 17, 2016 Dems created the first housing crash. Why not another Quote Link to comment Share on other sites More sharing options...
SVT MXZ XRS Posted June 21, 2016 Share Posted June 21, 2016 On 6/15/2016 at 8:26 PM, Capt.Storm said: And she's right..at least prolly most of the time. If interest rates go up..so does your loan ...but also the other way around. You pays your money and roll the dice..but don''t do that with your mortgage is my advice. I bet 90%, or more, who lost their houses withing the last 15 years had an ARM and got in way over their heads. Banks giving 125% loans didn't help either. Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted June 21, 2016 Share Posted June 21, 2016 13 minutes ago, SVT Renegade XRS said: I bet 90%, or more, who lost their houses withing the last 15 years had an ARM and got in way over their heads. Banks giving 125% loans didn't help either. Stated Income mortgages was another one . So much shit was going on between 96 and 08 it was fucking insane . 1 Quote Link to comment Share on other sites More sharing options...
SVT MXZ XRS Posted June 21, 2016 Share Posted June 21, 2016 7 minutes ago, Sal Rosenberg said: Stated Income mortgages was another one . So much shit was going on between 96 and 08 it was fucking insane . Yep. Quote Link to comment Share on other sites More sharing options...
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