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"Yes, well, Im polymerized tree sap and youre an inorganic adhesive, so whatever verbal projectile you launch in my direction is reflected off of me, returns to its original trajectory and adheres to you." - Sheldon Cooper
Hmmm....I read this from TN Hagies quote from the New York Times:
...Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
And Rainmaker responds with a quote from whom? Some left wing wacko blog? Is that supposed to be anything resembling credible?
Hmmm....I read this from TN Hagies quote from the New York Times:
...Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
And Rainmaker responds with a quote from whom? Some left wing wacko blog? Is that supposed to be anything resembling credible?
Rainmaker has selective reading
I'm confused, the media told me this was all because of Bush. Could they have been wrong?
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"Yes, well, Im polymerized tree sap and youre an inorganic adhesive, so whatever verbal projectile you launch in my direction is reflected off of me, returns to its original trajectory and adheres to you." - Sheldon Cooper
Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
RE: Where Fannie Mae's Trouble Started
Quote:
ORIGINAL: vc1111
Hmmm....I read this from TN Hagies quote from the New York Times:
...Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
I can not recall the name of thatInitiative Clinton pushed to get this ball rolling,,,,,?????? Im sure someone can recall it,,,,,????????
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals dont believe in either of them.
Amazing that all of those smart Republican running the government for the past 6 years never realized that by trying to grow the economy through housing was such a disaster. If it was soo wrong why didn't they stop it.
Kind of like seeing someone trying to do a home repair to help someone out and seeing a fire start and then letting that firesmolder for years and watch and do nothing but pay the fireman more money and later send the fireman to the house after it has burned down and then say it was the guy who did the home repair's fault.
Is this why we elect people to run our government. To put their head in the Sand???
Clinton signed that bill during a time when we had a balanced budget and the economy was booming. When Bush and Co came in and screwed everything up with their defecit spending causing a sharp decrease in the value of the dollar hence the skyrocketing oil prices and stiffling the US economy it was time to regulate what was going on. The lobbyists and friends of those very people running the "Republican" governement didn't allow anyone to stop the problem. Remember Republicans want a free market economy with no regulations.
Look how great the banks and airlines are doing with all of that deregulation.
Clinton tried to raise the level of home ownership up to 60% of the country from the mid 50% range. What happened during the deregulation hands off republican group running our country was that they allowed that number to climb aboe 66%.
Remember 'The Maverick" wants government out of your life.
How many people here got a mortgage backed by the FHA because they didn't have a large enough down payment. Since they are the largest loan guarantor in the country I am sure a lot on this site took advantage of a very good program.
We had a system in place to stop this for years. The Wall Street guys figured out a way through De-Regulation to put these derivatives(insurance policies) on their balance sheets to cover up that loans were going bad. VERY ILLEGAL. If that wouldn't have happened, a few years ago those companies would have been under great pressure to stop the problem. That is how it is supposed to work if you have regulations that have to be followed. Fixng up the balance sheets for years is the root cause of the problem. The fat cats just lied and got away with it.
Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
RE: Where Fannie Mae's Trouble Started
Quote:
ORIGINAL: WillCz
Amazing that all of those smart Republican running the government for the past 6 years never realized that by trying to grow the economy through housing was such a disaster. If it was soo wrong why didn't they stop it.
Kind of like seeing someone trying to do a home repair to help someone out and seeing a fire start and then letting that firesmolder for years and watch and do nothing but pay the fireman more money and later send the fireman to the house after it has burned down and then say it was the guy who did the home repair's fault.
Is this why we elect people to run our government. To put their head in the Sand???
Clinton signed that bill during a time when we had a balanced budget and the economy was booming. When Bush and Co came in and screwed everything up with their defecit spending causing a sharp decrease in the value of the dollar hence the skyrocketing oil prices and stiffling the US economy it was time to regulate what was going on. The lobbyists and friends of those very people running the "Republican" governement didn't allow anyone to stop the problem. Remember Republicans want a free market economy with no regulations.
Look how great the banks and airlines are doing with all of that deregulation.
You dont keep up with politics, I assume. S109 addressed this very issue, but guess who killed it before it could be brought to a vote? And guess who spoke on the matter as well as pushed the s109 bill. Yep, McCain.
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals dont believe in either of them.
And in 6 years, the Bush admin, with a cooperative congress/senate Rep. majority couldn't undo Clinton's
"pressure"?
WOW,
I had no Idea Clinton was so powerful that his"pressure" (pressure isn't law by the way)couldn't be undone in 6 years after the fact?
Empty excuse making for the Bush admin who can't accept responsibility for anything that happened on its watch.
LOL
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"I would not support repeal of Roe vs. Wade, which would then force women in America to [undergo] illegal and dangerous operations." Senator John McCain
Source: Ron Fournier, Associated Press Aug 24, 1999
Where Fannie Mae's Trouble Started
And Here Is Another::::
I think maybe he has od'ed on the Kool-Aid...
