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Neither party cares about anything other than staying in office so they can continue to get payed by the special interests that control the government. They are all bought and paid for. Vote against EVERY incumbent!
Like other subprime loans, subprime mortgages are defined by the financial and credit profile of the consumers to which they are marketed. According to the US Department of Treasury guidelines issued in 2001, "Subprime borrowers typically have weakened credit histories that include payment delinquencies, and possibly more severe problems such as charge-offs, judgments, and bankruptcies. They may also display reduced repayment capacity as measured by credit scores, debt-to-income ratios, or other criteria that may encompass borrowers with incomplete credit histories."
Those were the greedy Banks... It didn't fully kick in until the early 2000's... which were no money down variable rate loans... proving that the intention was to foreclose and grab the property cheap... just like what's happening now... Great plan... ... You honestly think the Democrats were planning that?... ... Oh yeah... The Republicans were in control of congress back then...
From a low of 5% of mortgages in 1994, to 14% in 1997, to 23% in 2005, subprime mortgages continued to boom in the early 2000's. Following the 2004 initiative policy change spearheaded by a U.S. Securities and Exchange Commission (SEC) decision to allow the largest brokerage firms to borrow upwards of 30 times their capital, subprimes became an even greater investment vehicle for investment banks and institutions in the U.S. and around the world.
You are kidding right? Sub prime mortgage were around way before Bush and promoted asa result of CRA. I must say it is a hoot watching you spin.
The sub-prime housing bubble didn't start until the early 2000's... Nice try...
Hey in another thread you said the housing bubble started in 2006. now early 2000 and still no supporting evidence, Stop making things up. the housing bubble started around 1997.
LOL even your own link shows su prime mortgages at 14% when CRA got teeth. You have no idea what CRA is. You really should refrain from posting until you know what you are talking about.
Hey in another thread you said the housing bubble started in 2006. now early 2000 and still no supporting evidence, Stop making things up. the housing bubble started around 1997.
The bubble spike began in 2006... a proven fact...
I'm still waiting for him to explain how a bank benefits from foreclosing on a property that was mortgaged at 100% loan to value......
I must admit it is rare to see a poster so demonsrtably wrong on some many points yet not admit it. It is an interesting pathology. I suspect we will next be told the sun revolves around the earth.
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... You honestly think the Democrats were planning that?... 
... Oh yeah... The Republicans were in control of congress back then...
