Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies > Elections
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-15-2008, 07:10 PM
 
Location: New Jersey
2,257 posts, read 5,191,260 times
Reputation: 1877

Advertisements

I heard McCain say that in the very first minute of the debate and I do not agree with that statement. Individual lenders/banks created this crisis, not F&F. If he does not even understand the basics, how is he going to work on it?!?
Reply With Quote Quick reply to this message

 
Old 10-15-2008, 07:13 PM
 
Location: Here
11,579 posts, read 13,958,441 times
Reputation: 7009
Dig a little deeper and you might get what he's saying.
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 07:13 PM
 
7,331 posts, read 15,397,354 times
Reputation: 3800
It's a misconception that's getting passed around. Other banks were delving into sub-primes before Fannie and Freddie, so they responded by getting their hands dirty, too.
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 07:32 PM
 
Location: Charlotte, NC
2,193 posts, read 5,057,097 times
Reputation: 1075
Wall Street and Congress started this mess. It was NOT Fannie and Freddie.
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 07:36 PM
 
Location: New Jersey
2,257 posts, read 5,191,260 times
Reputation: 1877
Quote:
Originally Posted by 01Snake View Post
Dig a little deeper and you might get what he's saying.

can you please help us understand if you do?
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 07:53 PM
 
13,186 posts, read 14,988,749 times
Reputation: 4555
I havent studied it that much but here is sort of the timeline as I see it.

1) GOP controlled congress pushed for mortgage lending to be deregulated. Clinton signed the bill into law ..late 1990's.

2) Once all these loans were packaged into securities as a result. Wall St started selling debt swaps ( which is really stock insurance that was not regulated nor backed up with enough capital)

This debt swap market was involved Trillions of Dollars. Yes Trillions.

3) Once housing collapsed, there was not capital to back up the losses.
This toppled the hedged debt swap market which put the Investment banks out of business.

4) Bush and the GOP failed to regulate any of this along the way over the last eight years.

5) They ***** and moan about Democrats voting against this or that but these votes were AFTER the cat was out of the bag, and involved differences over how to reregulate the market not if it should be reregulated.
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 08:22 PM
 
Location: Baltimore
8,299 posts, read 8,612,839 times
Reputation: 3663
Quote:
Originally Posted by davenj08 View Post
I heard McCain say that in the very first minute of the debate and I do not agree with that statement. Individual lenders/banks created this crisis, not F&F. If he does not even understand the basics, how is he going to work on it?!?
McCain blamed Democrats in the previous debate. Guess he's just working his way around all his misinformation.
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 08:36 PM
 
7,359 posts, read 10,284,070 times
Reputation: 1893
McClatchy Washington Bureau | 10/12/2008 | Private sector loans, not Fannie or Freddie, triggered crisis
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 08:37 PM
 
Location: Charlotte
12,642 posts, read 15,607,825 times
Reputation: 1680
Quote:
Originally Posted by davenj08 View Post
I heard McCain say that in the very first minute of the debate and I do not agree with that statement. Individual lenders/banks created this crisis, not F&F. If he does not even understand the basics, how is he going to work on it?!?

He's never understood this issue.
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 08:41 PM
 
Location: Reality
1,050 posts, read 1,931,476 times
Reputation: 259
Quote:
Originally Posted by 01Snake View Post
Dig a little deeper and you might get what he's saying.
Quote:
Originally Posted by davenj08 View Post
can you please help us understand if you do?
You've gotta dig really, really deep. Let's just say, keep digging till you find out that Obama caused the subprime crisis.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies > Elections

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top