266,000 jobs added in November

You’re implying in every post that Trump rides Obama’s coattails.

Meaning, he’s riding Obama’s success. Meaning, he did not destroy Obama’s economy.

Right?

 

Spin, parse, split, pick and chose Liberals are masters of.

 

So, you think banks should not be held accountable and have lending standards enforced in order to prevent realtors from losing profits? Seems like a very egoistic viewpoint to me.

 

Of course. Her’s my graph.

Washington Democrats are counting impeachment votes. President Trump is counting 266,000 new jobs and a 50-year record low unemployment rate.

 

That's not a graph. That's a dodge. You guys can just go ahead and admit you can't read a trend. Your entire argument is based on that inability.

 

I don't know what they're supposed to have done, or failed to do, in January of 2007. I never had the impression that they were fighting Bush to mitigate an economic slowdown, though. What did I miss?

 

Weak, very weak. You can do better than this. Give it a try.

 

Have you spoken to any Banker as to the controls that were already slapped against them? People with no clue what happens to Banks charge banks were not regulated. And of course they are extremely regulated.

Lending standards on housing are not imposed by Banks and have not been for a very long time. The organization you need to attack is called Freddie Mac and also Fannie Mae.

Pay attention to who rules not only the lending industry on homes but also rules the appraisers. It is those two groups.

 

Something tells me you haven't studied this objectively.

Did Fannie and Freddie Cause the Mortgage Crisis?

...

Role During the Housing Crisis
Government regulations prohibited Fannie and Freddie from buying high-risk mortgages. But as the mortgage market changed, so did their business.

Between 2005 and 2007, they acquired few conventional, fixed-interest loans with 20% down. They loaded up on subprime, interest-only, or negative amortization mortgages—loans more typical of banks and unregulated mortgage brokers.

Fannie and Freddie made things worse by their use of derivatives to hedge the interest-rate risk of their portfolios. But as private-sector companies with shareholders to please, they were doing this to remain competitive with other banks. They were all doing the same thing.

... https://www.thebalance.com/did-fannie-and-freddie-cause-the-mortgage-crisis-3305659​

 

Really, since 1971 that was my business. But per you I do not understand.

Bush bought up Fannie and Freddie. Do you truly think he bought them and they were not guilty? Actually your article supports me over you.

 

You really shouldn't say things that can easily be disproven with one example. It makes you appear as if you don't understand what you're saying...

 

It's your business? Well, do tell. The article says Fannie and Freddie were just one part of the problem, with all sorts of banks and brokers having led the way to crisis.

The greedy lenders failed us, as did both sides of the political aisle, especially thanks to too little regulation under a Republican administration, Republicans being the party of deregulation even today.

 

What is your one example? A deceptive job report number?

 

Schiff is known on the street for being (for lack of a better term) a doomsayer. He has some good insights back in early 2000, but he has let any small sliver of unfavorable data cloud his judgement.

 

Democrats put up a furious fight to prevent saving Fannie and Freddie.



Great, he blames Fannie and Freddie

But:::


Associated Press
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Top executives at mortgage finance companies Fannie Mae and Freddie Mac ignored warnings that they were taking on too many risky loans long before the housing market plunged, according to documents released Tuesday by a House committee. (Dec. 9)

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I don't know what you're talking about. He mentioned that trends have remained economic unchanged, and apparently all economist agree with him; an absurd statement on its own.

I also don't know what deceptive job report number you're talking about.

 

It is difficult to explain this to Democrats. Democrats simply do not understand the home lending business. Nor to they comprehend the role of Fannie And Freddie. I have laid it out clearly many times over the years. But they still do not comprehend.

The greed you speak of is by F/F. It put them out of business so Bush rescued both.

 

Oh yes, I agree that he is totally a broken record in that respect. But that doesn't mean he's wrong about everything he thinks and says.

 

Details about what went wrong with Fannie and Freddie in particular. OK. But what about the issue of other banks and brokers having done the same thing and there having been too little regulation on them as well as on Fannie and Freddie in the first place?

 

He's not wrong about everything, but he is an ideologue. He never test his world view against reality and has difficulty adjusting his world view based on reality. Not suggesting one shouldn't listen to him, but it's becoming increasingly difficult for him to see things objectively.

 

For crying out loud, man. You think no one in real estate is a Democrat? What the ****?

I don't buy your blaming F/F solely for banks behaving irresponsibly with mortgage lending. They weren't forced to do what they did, except by executives and shareholders who wanted more profit$.

 

He does a good job breaking down the numbers we've been given, and that's not something his personal ideology affects.

 

I shall let you learn from President Bush.

Regulation does not improve business. It harms business. Ergo it harms customers.

 

Regulation prevents financial crises and other major problems. Usually the "harm" to businesses is worth it.

 

I did not say F/F were forced. I was a Democrat when I got my license. I was still a loyal Democrat when I got my brokers license. This entitles the broker to own and operate real estate offices. Next I started a successful appraisal firm. This happened during Clinton since the RE market had virtually collapsed. If you notice, Democrats refuse to explain the collapse to the housing market when Clinton was president. I lived it. I understood it.

When I opened up both offices for mortgage business, I had many years of understanding loans and the housing market.

Why did I appraise? The Clinton RE market was in the tank. Homes were falling in value. I hoped by appraising I could save my own hide. I did so well as an Appraiser I was totally acquainted with the entire SF Bay area market.

As an Appraiser, it did not take long to learn the appraisal industry for home loans was ruled by Freddie and Fannie.

Surprise, your mortgage instruments are as well.

Somebody was greedy for sure. And that is Fannie and Freddie.