Capt.Storm Posted July 22, 2016 Share Posted July 22, 2016 2 minutes ago, Mileage Psycho said: Because I'm sure you didn't read at the link I'm going post it, reading the whole thing would be best but if your attention span is to short pay attention to the bold Nothing much there. Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted July 22, 2016 Share Posted July 22, 2016 You guys can blame Bush for everything,I don't care I'm used to it..but you can't say Billy doesn't share some blame also. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted July 22, 2016 Platinum Contributing Member Share Posted July 22, 2016 23 minutes ago, Mileage Psycho said: Actually it was Bush's bubble, the link is his 2002 speech to HUD where his idea was that everyone should own a home. http://archives.hud.gov/remarks/martinez/speeches/presremarks.cfm Won't post it now from my phone but that started back in the Clinton admin. I've posted a NY Times article from 2001 probably a dozen times showing the Bush admin trying to reign in Fanny and Freddie and the Dems blocked it saying just what u posted. 1 Quote Link to comment Share on other sites More sharing options...
racer254 Posted July 22, 2016 Share Posted July 22, 2016 1 minute ago, Highmark said: Won't post it now from my phone but that started back in the Clinton admin. I've posted a NY Times article from 2001 probably a dozen times showing the Bush admin trying to reign in Fanny and Freddie and the Dems blocked it saying just what u posted. Everyone knows that except a few dems who won't admit it and those are the same ones that are trying to put another clinton in office. One thing that they keep forgetting is that not one republican on this site wanted another bush in the office. Quote Link to comment Share on other sites More sharing options...
1jkw Posted July 22, 2016 Share Posted July 22, 2016 7 minutes ago, Highmark said: Won't post it now from my phone but that started back in the Clinton admin. I've posted a NY Times article from 2001 probably a dozen times showing the Bush admin trying to reign in Fanny and Freddie and the Dems blocked it saying just what u posted. Bush had both house and senate at the time. Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted July 22, 2016 Share Posted July 22, 2016 41 minutes ago, Highmark said: Won't post it now from my phone but that started back in the Clinton admin. I've posted a NY Times article from 2001 probably a dozen times showing the Bush admin trying to reign in Fanny and Freddie and the Dems blocked it saying just what u posted. Thank you. Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted July 23, 2016 Share Posted July 23, 2016 The whole thing was a cluster fuck to make money. Insofar as Fannie and Freddie did purchase substandard loans, some analysts question whether government mandates for affordable housing were the motivation. In December 2011 the Securities and Exchange Commission charged the former Fannie Mae and Freddie Mac executives, accusing them of misleading investors about risks of subprime-mortgage loans and about the amount of subprime mortgage loans they held in portfolio.[271] According to one analyst, "The SEC’s facts paint a picture in which it wasn’t high-minded government mandates that did the GSEs wrong, but rather the monomaniacal focus of top management on marketshare. With marketshare came bonuses and with bonuses came risk-taking, understood or not."[272] However, there is evidence suggesting that governmental housing policies were a motivational factor. Daniel H. Mudd, the former CEO of Fannie Mae, stated: "We were afraid that lenders would be selling products we weren't buying and Congress would feel like we weren't fulfilling our mission." Another senior Fannie Mae executive stated: "Everybody understood that we were now buying loans that we would have previously rejected, and that the models were telling us that we were charging way too little, but our mandate was to stay relevant and to serve low-income borrowers. So that's what we did."[273] Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted July 23, 2016 Share Posted July 23, 2016 6 hours ago, Capt.Storm said: Good post. I see it that way also. Every once in awhile his grumpy old ass comes up with a decent one . 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted July 23, 2016 Platinum Contributing Member Share Posted July 23, 2016 9 hours ago, 1jkw said: Bush had both house and senate at the time. Yes and why I've always included them in the blame. They backed down afraid of the media attention stopping people who shouldn't be getting home loans the dems and msm would lay on them. Quote Link to comment Share on other sites More sharing options...
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