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Old 10-09-2012, 09:10 AM
 
Location: Dallas, TX
31,767 posts, read 28,769,662 times
Reputation: 12341

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Quote:
Originally Posted by InformedConsent View Post
Translation: You won't consider facts that dispute your "opinion."When the underlying assets are high risk but NOT represented as such, yes it would. Guess who misrepresented OVER HALF of the high risk MBS?

Yep... the GSEs

Furthermore, the GSEs were leveraged WAY above 30:1
Then, why were five financial giants allowed to leverage beyond 30:1 beginning in 2004, if it is a terrible idea?
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Old 10-09-2012, 09:12 AM
 
Location: The Brat Stop
8,347 posts, read 7,224,659 times
Reputation: 2279
Quote:
In 2003, the White House warning about Fannie and Freddie, was upgraded to a "Systemic Risk that could spread beyond just the housing sector".
oh dear. from 2003 to 2005, you had all three, a "R" president, house and senate.
If someone was going to do something, and could have, why didn't they do it?

Party In Power - Congress and Presidency - A Visual Guide To The Balance of Power In Congress, 1945-2008

You need to stop blaming the "D" party for everything, and look at the "R" party as doing nothing, when they could have.
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Old 10-09-2012, 09:14 AM
 
Location: the very edge of the continent
88,800 posts, read 44,610,756 times
Reputation: 13625
Quote:
Originally Posted by EinsteinsGhost View Post
Then, why were five financial giants allowed to leverage beyond 30:1 beginning in 2004, if it is a terrible idea?
The GSEs set the pace.
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Old 10-09-2012, 09:14 AM
 
Location: Dallas, TX
31,767 posts, read 28,769,662 times
Reputation: 12341
Quote:
Originally Posted by NoJiveMan View Post
oh dear. from 2003 to 2005, you had all three, a "R" president, house and senate.
If someone was going to do something, and could have, why didn't they do it?

Party In Power - Congress and Presidency - A Visual Guide To The Balance of Power In Congress, 1945-2008
They will be usual self professing that the "R" basically represented what a "neutered" government looks like.

Quote:
Originally Posted by InformedConsent View Post
The GSEs set the pace.
I'm not concerned about setting pace etc at this time, but whether it is a good idea. Is it?
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Old 10-09-2012, 09:16 AM
 
13,507 posts, read 16,997,994 times
Reputation: 9688
So much energy spent cutting and pasting a bunch of partisan garbage.

Greed doesn't have a party affiliation. Of course, Romney thinks there's too much regulation of his vulture capitalist and Wall St. buddies, not too little. Fancy that.
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Old 10-09-2012, 09:17 AM
 
Location: the very edge of the continent
88,800 posts, read 44,610,756 times
Reputation: 13625
Quote:
Originally Posted by NoJiveMan View Post
oh dear. from 2003 to 2005, you had all three, a "R" president, house and senate.
If someone was going to do something, and could have, why didn't they do it?
It wasn't a filibuster-proof Congress. The Dems could block reform, so they did.

Here's what was tried. The GSE timeline:
Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs
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Old 10-09-2012, 09:20 AM
 
Location: the very edge of the continent
88,800 posts, read 44,610,756 times
Reputation: 13625
Quote:
Originally Posted by EinsteinsGhost View Post
I'm not concerned about setting pace etc at this time, but whether it is a good idea. Is it?
Ask the GSEs. How did that turn out? ...A $1.1 trillion GSE bailout.
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Old 10-09-2012, 09:21 AM
 
Location: the very edge of the continent
88,800 posts, read 44,610,756 times
Reputation: 13625
Quote:
Originally Posted by dman72 View Post
So much energy spent cutting and pasting a bunch of partisan garbage.
Facts, sources, footnotes, etc., aren't partisan. Facts are what they are.
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Old 10-09-2012, 09:35 AM
 
Location: Dallas, TX
31,767 posts, read 28,769,662 times
Reputation: 12341
Quote:
Originally Posted by InformedConsent View Post
Ask the GSEs. How did that turn out? ...A $1.1 trillion GSE bailout.
So, the idea that basically jump-started the economy in 2004, and ended with a huge thud with the five financial giants (Goldman Sachs, Merrill Lynch, Lehman Brothers, Bear Stearns and Morgan Stanley) collapsing and bringing the humanity to the verge of another great depression, was a bad idea. No?

Leverage 101 - The Real Cause of the Financial Crisis

But, I think you'd have trouble accepting this, considering that what is left of these five happen to be the top contributors to your choice for President.

Facts: Open Secrets

Last edited by EinsteinsGhost; 10-09-2012 at 09:44 AM..
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Old 10-09-2012, 09:51 AM
 
Location: The Brat Stop
8,347 posts, read 7,224,659 times
Reputation: 2279
Quote:
Originally Posted by InformedConsent View Post
It wasn't a filibuster-proof Congress. The Dems could block reform, so they did.

Here's what was tried. The GSE timeline:
Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs
Bush 43 was the one who urged reform (2007) and not before when the senate and house were controlled by "R" party. No Legislation from the 2003 to 2005.
Filibuster my foot. You're in denial that republicans couldn't do anything. They just didn't want to.
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