Spare us the leftwing nut "projections"............Hillary wins by a landslide. Predictions from the left aren't very good.
Bull, the Democrats were pushing loans to the poor all the way back in 1993 and I know for a fact they were still doing it in 2005 and probably later. Threatened banks they would sue them or prevent them from expanding unless they made a percentage of their loans to the poor. Banks were changing the way they gave out loans. Even taking food stamps as income so they could qualify.
There's nothing wrong with lending to people unfairly denied mortgages because of redlining, or helping G.I.s after WW2, etc. But there is something wrong with lending to people who can't make their mortgage payments when the ARMs reset. Republicans controlled the government, so there was no threat from Democrats. Would Democrats have done what Bush did in letting the fraud get so out of hand? Would they have allowed the explosion of securitized subprime loans? We'll never know. But we don't blame who might have been ship captain.
Not unfairly denied. Most couldn't qualify with the bank standards that have been in place for years. In order to meet Clinton's demand to make a certain percentage of their loans, they had to come up with a whole new way of qualifying. They started variable rate loans, balloon loans, Time loans, etc. Loaning money for homes that in most cases the person could never qualify for a home loan. Home buying took off and speculates also got in on the the deals. Then Clinton appointed Andrew Cuomo http://reason.com/archives/2012/10/14/clintons-legacy-the-financial-and-housin
Bush warned Congress of the problems with Fannie Mae and Freddi Mack over a dozen times over the bad loans they were taking in. Starting the first year in office. https://www.thegatewaypundit.com/2008/09/bush-called-for-reform-of-fannie-mae/
Here was the very start of the fall of the banks, by pushing banks to make loans to the poor, when they couldn't afford them. Please catch the date of this article. U.S. To Push Banks on Credit in Poor Areas December 09, 1993|ROBERT A. ROSENBLATT and CHRIS KRAUL | TIMES STAFF WRITERS WASHINGTON — The Clinton Administration, hoping to generate billions of dollars in new loans for small businesses and residents in poor and minority neighborhoods, on Wednesday unveiled proposed new rules requiring banks and thrifts to aggressively seek new customers in all parts of their communities. Federal regulators will now be much tougher in demanding that financial institutions make credit available to the poor as well as the affluent, said Comptroller of the Currency Eugene A. Ludwig, whose recent travels have taken him from South-Central Los Angeles to a reservation in North Carolina to hear complaints about the lack of credit in low-income areas. http://articles.latimes.com/1993-12-...ommunity-banks
Here, Bill Clinton blames the Democrats for not listening to Republicans to put on strong regulations on Fannie Mae.
Yeah, and Obama warned about climate change, racism, slow economic growth, terrorism, etc. You have to walk the talk, not make a series of CYA statements, then look the other way or even do the opposite.
Not the same thing at all. The Left wants to put all the Blame on Bush and the Republicans for the housing fiasco. There is plenty of evidence the Democrats were up to their eye balls in helping cause that. Most aren't my statements. It comes from their own mouths.
There was no housing bubble in 1993. The crisis hit on Bush's watch and he failed to act. Did others set the table? Sure.
Right, she tried to say the that Republicans never tried to put regulations on. That this fiasco sneaked up on them without any warning at all. Both of them are lies. She Lied and Barnie Franks lied. No there was no housing bubble in 1993. That was the year Clinton came out with the rule that banks MUST give out a certain percentage of their loans to the poor. It was fafter that, they brought law suits against banks that didn't. That is when banks had to change lending standards. People were getting loans with bad credit and no credit. Banks were even taking food stamps as financial assets in order to qualify some of them. Even Obama was a lawyer at the time and sued a Chicago bank for not giving out enough loans to the poor.
Fair enough. Yet, there remains another housing bubble that's about to burst. What is Donald Trump doing to prevent that catastrophe? Clearly his tax cuts for the rich won't do a dog gone thing.
With landmark lawsuit, Barack Obama pushed banks to give ... dailycaller.com/2012/09/03/with-landmark-lawsuit... Cached President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.
Just why do you think Trump gave those tax cuts? I keep hearing that from the Left, but they don't seem to understand the reason for them.
So what ?? Under Clinton HUD required Fannie and Freddie to grant 50% of their mortgages to low income borrowers. Bush increased that to 55%. The real damage came from the financial crisis which was the result of a tragic conflagration of banking regulations starting in the 1930's. No one saw that coming - not one of the Nobel economics PhD economists in the world.
