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Honored Advisor

Re: Just more conjecture and opinion from Kraft

Kraft-t----

You have to ignore a lot of Clinton administration history to hold your position.  (Which was followed by Bush lack leadership economically)

Threats and charges were weekly news.  

Action against lenders who required such extremes as a source of income or a down payment.  

Washington tried to require lenders to write interest only loans.  Remember?  The New York Times articles are still searchable.

 

Study the record of Discrimination suits against USDA.  An administration decision not to contest claims opened the floodgate.  Will there be any investigation? Not as long as the the race threat works. Thanks for reminding us!!!

 

The constant rape of the taxpayer is impossible to ignore.

 

Take off those Fleetwood Mac earphones and pay attention.

Highlighted
Honored Advisor

Re: What, all blow and nothing to show?

The one fact that supports your view  and hurts it, is that Banks made the loan because of government action.  You are wrong, they did force the banks to make the loans when they decided to guarantee the loans.  What divides us is the constant political blame game on banks while taking no responsibility for regulative action or politicizing of the process.  

 

Highlighted
Honored Advisor

Re: Here we go again.

Your not the one who is behind.

 

It is a subject discussed a lot.  Along with other dead horses I read on this site.  

 

But your position has factual support.  The political opinions viewed here are often ignoring fact.  They love to threaten those who dissagree with the guilt of taking subsidies when they cannot support positions.  Forgetting there are reasons for Usda payments---we have all gotten into a welfare mentality.  We want to worship politics and ignore its ugly realities.

 

My banker thanks you for your accurate memory.  Political decisions are responsible for much if not all of the economic woes of the last several (and next several) years.  

Politicians and their blind supporters are desperate to blame everyone else long enough to get through the short american memory period. 

Socialism is in a fertile field.

 

 

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Senior Contributor

Re: Just more conjecture and opinion from Kraft

Washington TRIED to require lenders to write interest only loans.

 

Tried, is the optimum word. You say the New York Times articles are still searchable? Then why didn't you post them? I would be very interested in what you've used to conclude your opinion.

 

Study the record of Discrimination suits against USDA.

 

This sounds suspiciously racist. Would like to explain yourself? I surely would like to hear what possible reason you have for bemoaning these people their rights.

 

 

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Senior Advisor

Re: What, all blow and nothing to show?

So you think it is the federal governments fault all those dubious loans? Thats hog wash. Some of the banks were red lining black communities in order to discriminate. The government required them to quit that discriminatory practice and told them to lend to credit worthy borrowers in those areas, nothing more. To rejct any loan all they need to is rule them unworthy of credit. Banks to that all the time to white and black alike. Unfortunatly they wished to have wholesale discrimination and not even loan in some areas.

 

When you bundle a bunch of crappy loans and extort a AAA rating out of the ratings firms and sell that crap to unsuspecting investor, I would say that is fraudulant activity. If the government guaranteed the loan they have no problem as the government has guaranteed those. How many government guaranteed loans has produced losses to community banks. Would you say none?

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Senior Contributor

Re: What, all blow and nothing to show?

I just love how these brave people stand up for these poor banks, don't you, Don?

Highlighted
Senior Advisor

Re: What, all blow and nothing to show?


@kraft-t wrote:

So you think it is the federal governments fault all those dubious loans? Thats hog wash. Some of the banks were red lining black communities in order to discriminate.


Prove it. Which banks and what loan officers will not loan money based on skin color?

Highlighted
Honored Advisor

Re: What, all blow and nothing to show?

Sorry I can't help you with your bank hatred or race baiting, but the generalization of banks discriminating by race is so rediculous It cannot be let go.  It is unsupportable in fact.  It is politics at it's sickest.

 

The best you can support in fact is that poverty is discriminated against in lending practices......it is a reality in the cities as it is on the farm.......welcome to the real world.