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Old 07-19-2011, 09:44 AM
 
22,768 posts, read 30,710,512 times
Reputation: 14745

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Quote:
Originally Posted by marcopolo View Post
Ironic to the extreme that the two individuals who did more than any others to precipitate the financial crisis, Chris Dodd and Barney Frank, succeeded in passing their monstrous legislation to pin the blame on the banks. Even if you wrongly blame the half-dozen big banks and mortgage companies
LOL

wrongly blame the big banks and mortgage companies?

from which sources do you get your news?
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Old 07-19-2011, 05:54 PM
 
Location: it depends
6,369 posts, read 6,403,685 times
Reputation: 6388
Quote:
Originally Posted by le roi View Post
LOL

wrongly blame the big banks and mortgage companies?

from which sources do you get your news?
I read voraciously on business and financial matters. FACT: If there had not been a government-sourced guarantor for sub-prime loans, 90% of them never would have been written. Countrywide was not a great citizen, but Fannie Mae knew them as their "biggest producer." Barney Frank and Chris Dodd worked in the Fannie Mae/Freddie Mac mandate to get people who could not afford houses into houses, look it up. Barney Frank "rolled the dice" on behalf of "disadvantaged" borrowers--with OUR money. I understand the human need to find a villain for every disaster; what I cannot figure out is how Dodd and Frank managed to avoid the role.
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Old 07-19-2011, 11:02 PM
 
Location: Chandler, AZ
5,800 posts, read 6,562,758 times
Reputation: 3151
Marcopolo---Since the liberal press has always been in favor of the Democrats, it's no surprise that neither of them was ever kicked out of Congress.

They gutted the underwriting standards for mortgages, and then Clinton mandated that HUD purchase 12,000,000 subprime mortgages, which turned out to be the kiss of death.
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Old 07-20-2011, 02:15 PM
 
5,756 posts, read 3,994,529 times
Reputation: 2308
Quote:
Originally Posted by theunbrainwashed View Post
I wonder if this new agency is going to be like the FDA or USDA. You know, siding with big business over the consumers that they are supposed to inform and protect?
The head is the old AG from Ohio Corday who lost his job in the last election as well as his old boss Teddy Strickland.He did not stand up for the people of Ohio against the unconstitutional Heath Care law so now Obama rewards him with protecting us from those evil lenders... GIVE ME A BREAK...POLITICAL PAYBACK I THOUGHT OBAMA WASN'T GOING TO ENGAGE IN?
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Old 07-21-2011, 08:55 AM
 
22,768 posts, read 30,710,512 times
Reputation: 14745
Quote:
Originally Posted by marcopolo View Post
I read voraciously on business and financial matters.
that didn't answer the question.


Quote:
FACT: If there had not been a government-sourced guarantor for sub-prime loans, 90% of them never would have been written.
How could something that didn't occur be a fact?
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Old 07-21-2011, 09:19 AM
 
Location: NJ
23,520 posts, read 17,196,104 times
Reputation: 17547
Default new agency replaces my guardian angel!!!!!!!!!!!!!

Super! Now Obama is interfering with my religion!

What will my guardian angel have to do?

We now have another redundant agency that can be cut to save even more money.

God bless us!

I'm now convinced Obama believes the American people are too stupid to survive outside captivity.

How does it feel to be kept and fed a scientific diet?
All stress is taken away and 'free will' no longer to be pracriced except to choose what item to eat first on the plate shoved under the door by the feds.
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Old 07-21-2011, 10:55 AM
 
Location: Fredericktown,Ohio
7,168 posts, read 5,361,914 times
Reputation: 2922
Quote:
Originally Posted by Kracer View Post
Super! Now Obama is interfering with my religion!

What will my guardian angel have to do?

We now have another redundant agency that can be cut to save even more money.

God bless us!
I have asked several times ad nausem what {D} posters expected Warren and this dept to do { including this thread} and never receive no answer. You are right it is a redundant agency considering it is a new wing of the FR. Like Warren could take on Barnanke and the banksters.LMAO

Plus it is a over lap, we already have a consumer protection agency that is part of the FTC. Here they give you all the info but were afraid to ask on mortgages:
FTC Consumer Information - Credit & Loan: Mortgages/Real Estate

If you feel that you have been cheated you can file a complaint :
Quote:
The Federal Trade Commission, the nation's consumer protection agency, collects complaints about companies, business practices, and identity theft under the FTC Act and other laws we enforce or administer.
Why: Your complaints can help us detect patterns of wrong-doing, and lead to investigations and prosecutions. The FTC enters all complaints it receives into Consumer Sentinel, a secure online database that is used by thousands of civil and criminal law enforcement authorities worldwide. The FTC does not resolve individual consumer complaints.
So once again why do need to grow gvt with another dept?
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Old 07-21-2011, 06:46 PM
 
5,756 posts, read 3,994,529 times
Reputation: 2308
Quote:
Originally Posted by Swingblade View Post
I have asked several times ad nausem what {D} posters expected Warren and this dept to do { including this thread} and never receive no answer. You are right it is a redundant agency considering it is a new wing of the FR. Like Warren could take on Barnanke and the banksters.LMAO

Plus it is a over lap, we already have a consumer protection agency that is part of the FTC. Here they give you all the info but were afraid to ask on mortgages:
FTC Consumer Information - Credit & Loan: Mortgages/Real Estate

If you feel that you have been cheated you can file a complaint :

So once again why do need to grow gvt with another dept?

Political payback the Chicago way Grow the government everyday
Where is the next Calvin Coolidge We need to be saved from big government
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Old 07-21-2011, 06:57 PM
 
22,768 posts, read 30,710,512 times
Reputation: 14745
Quote:
Originally Posted by Swingblade View Post
I have asked several times ad nausem what {D} posters expected Warren and this dept to do { including this thread} and never receive no answer.
Is Warren a Democrat? I think she is independent. Maybe you have been asking the wrong people.

Quote:
You are right it is a redundant agency considering it is a new wing of the FR. Like Warren could take on Barnanke and the banksters.LMAO

Plus it is a over lap, we already have a consumer protection agency that is part of the FTC. Here they give you all the info but were afraid to ask on mortgages:
FTC Consumer Information - Credit & Loan: Mortgages/Real Estate

If you feel that you have been cheated you can file a complaint :

So once again why do need to grow gvt with another dept?
Long story short, the authority of the others has been neutered.

Last edited by le roi; 07-21-2011 at 07:06 PM..
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Old 07-21-2011, 07:22 PM
 
Location: Fredericktown,Ohio
7,168 posts, read 5,361,914 times
Reputation: 2922
Quote:
Originally Posted by le roi View Post
Is Warren a Democrat? I think she is independent. Maybe you have been asking the wrong people.

I am not a partisan and have nothing against Warren personally, I think she is super intelligent and carries herself well.



Long story short, the authority of the others has been neutered.
That is most likely the case,anytime there is a problem our so called leaders solution is to grow the gvt. And it does not mater which party is in control.
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