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Vote in conservatives.
Learn from mistakes and go against a policy that allows the free market to be bypassed. Don't allow the winners and losers to be hand picked.
Less government on the Federal level = diversity and a win for we the people.
Give us the freedom, so we can discover, the best ways to serve one another.
Maybe nothing major, but we will never because of how the private sector ended up packaging and selling the loans, which greatly accelerated under president bush jr.
How? Home ownership grew significantly less under Bush than Clinton? That's already been proven.
Fannie Mae was WARNED about the very high default rate of high LTV loans, even in their own experience, and implemented the program anyway to meet their Clinton-era HUD mandate that 50% of all the loans the GSEs bought had to be made to low-income, credit-tarnished, and/or redlined area buyers. And guess which loans defaulted the most.
LOL! The 50% level was chosen in 2000 because the GSE's had already achieved it. It was not a call to ramp up anything. All of that ramp-up crap came from the appointed guy.
And once again, the loans that actually failed and caused the credit crisis that led to the Great Recession were not typically written in the 1990's . They were typically written between 2002 and 2006 into weak markets by private brokers for securitization through Wall Street's no standards, bypass-the GSE's, private label securitizers. People were making big profits and hefty bonuses off all this garbage production, and they didn't want to give it up just because there were no more qualified borrowers left. That's the genius of the private sector for you.
Last edited by Reynard32; 09-19-2015 at 02:25 PM..
Vote in conservatives.
Learn from mistakes and go against a policy that allows the free market to be bypassed. Don't allow the winners and losers to be hand picked.
Less government on the Federal level = diversity and a win for we the people.
Give us the freedom, so we can discover, the best ways to serve one another.
So you don't think those private industries in the "free market" lobby the government to do things that benefit them? You don't think private home builders had any part in ensuring more people qualify for homes?
Your reply just comes off as very naive, as if the "free market " is actually free.... You just don't get it, private vs public debate is silly as they are one in the same.
How can anyone here fail to understand that a "low" official unemployment rate DOES NOT EQUATE TO "nearly full employment"--or anything like it? It's a meaningless number that exists merely to manipulate the uninformed masses (most of whom don't work anyway), and make the economy look far better than it actually is.
It totally ignores everyone who stopped actively looking for a job (which WILL happen after searching fruitlessly for years), and everyone who accepted a job far below their skills/abilities, or part-time, just to get a few dollars a week--so you aren't counted if you're an engineer that got laid off and now works 10 hours a week for minimum wage.
Even with a low standard that defines a "good job" as 30+ hours per week for an organization that provides a regular paycheck, the situation is horrendous: "Right now, the U.S. is delivering at a staggeringly low rate of 44%, which is the number of full-time jobs as a percent of the adult population, 18 years and older. We need that to be 50% and a bare minimum of 10 million new, good jobs to replenish America’s middle class." https://www.linkedin.com/pulse/big-l...se-det-nav_art
So you would be in favor of restricting the types of investment that private investment banks make?
That was already done. Barney Frank admitted it on C-Span:
Asked about the government's affordable housing goals compelling Fannie Mae and Freddie Mac before the crisis to devote more than half their portfolios to riskier nonprime mortgages for low-income borrowers, Frank blurted out: "No more goals, no more telling the private sector" how to invest in the housing market."
"...telling the private sector..."
Telling theprivate sectorhow to invest in the housing market. Let that sink in...
Congress has contributed nothing to the recovery since 2011. There has not been an economically successful Republican administration in more than a century.
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