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.
The $15 originated with Occupy, not with Bernie. He mainstreamed and co-opted many of their ideals, but the conversation actually changed via Seattle's City Council. A significant number of jurisdictions followed suit before Bernie even announced his candidacy; it may or may not have retained its momentum independently of Bernie's campaign.
You cant deny Bernie's contribution even though you are doing it. And Bernie was the Occupy candidate. His run was extraordinary. Most donations ever for a candidate. Most popular senator in the country. A true people's candidate. Interesting that you also ignored the TPP.
Lending to poor people did cause the financial crisis.
No, really...it didn't. Greed did. And the poor weren't the greedy...the bankers were.
But there you conservatives go again; excusing the behavior of the elite class and denigrating the poor.
Especially lame when one considers that you're all a hell of a lot closer financially to the poor than you are to bankers, who wouldn't even give you the time of day.
No, really...it didn't. Greed did. And the poor weren't the greedy...the bankers were.
But there you conservatives go again; excusing the behavior of the elite class and denigrating the poor.
Especially lame when one considers that you're all a hell of a lot closer financially to the poor than you are to bankers, who wouldn't even give you the time of day.
The "poor" homebuyers that bought homes above their means because " real estate always goes up " were being greedy too .
Don't think most of them bought a house with the plan to get rich off it ?
Sure it wasn't banker sized greed but still could be viewed as greed .
They were indulging in excess a home they couldn't really afford
Lending to poor people did cause the financial crisis.
Quote:
Originally Posted by desertdetroiter
No, really...it didn't. Greed did. And the poor weren't the greedy...the bankers were.
But there you conservatives go again; excusing the behavior of the elite class and denigrating the poor.
I didn't denigrate the poor, I denigrated lending to them when they couldn't pay the money back.
Banks do not normally lend money to people who can't pay it back.
They only did so because they could then turn around and sell those mortgages to Fannie and Freddy, which had been ordered by Bill Clinton's HUD Secretary to buy $2.4 trillion worth of them over a 10-year period starting in 1999.
By selling those mortgages to Fannie and Freddy, bankers no longer had to care whether the borrowers paid back their loans or not.
Now it was Fannie and Freddy's problem -- and it became the taxpayers' problem when Fannie and Freddy collapsed and Obama's good buddy Franklin Raines (who oversaw Fannie) walked away with a cool $90 million in his pocket.
Quote:
Especially lame when one considers that you're all a hell of a lot closer financially to the poor than you are to banker who wouldn't even give you the time of day.
The "poor" homebuyers that bought homes above their means because " real estate always goes up " were being greedy too .
Don't think most of them bought a house with the plan to get rich off it ?
Sure it wasn't banker sized greed but still could be viewed as greed .
They were indulging in excess a home they couldn't really afford
Yet they did it anyways .
The poor homebuyers weren't greedy...they were optimists who were sold a dream. Owning a home has always been the entree into the American Dream. If people have been sold that notion all of their lives, OF COURSE they're gonna take that risk because it's unimaginable that they won't find a way to keep it. After all, in their minds, they've been successful enough to find a way to get themselves into a home. Why wouldn't they take the dive?
The house wasn't above their means when they bought it after all. The payment was affordable. Most people didn't understand what they got themselves into. Hell, if the bankers didn't even understand the malaise they were creating long term (and that would include such "geniuses" as Alan Greenspan), how could the home buyer that's pretty much a novice know any better?
So i reserve my contempt for the people that should've known better....the bankers.
I didn't denigrate the poor, I denigrated lending to them when they couldn't pay the money back.
Banks do not normally lend money to people who can't pay it back.
They only did so because they could then turn around and sell those mortgages to Fannie and Freddy, which had been ordered by Bill Clinton's HUD Secretary to buy $2.4 trillion worth of them over a 10-year period starting in 1999.
By selling those mortgages to Fannie and Freddy, bankers no longer had to care whether the borrowers paid back their loans or not.
Now it was Fannie and Freddy's problem -- and it became the taxpayers' problem when Fannie and Freddy collapsed and Obama's good buddy Franklin Raines (who oversaw Fannie) walked away with a cool $90 million in his pocket.
Yeah, right.
Got any other "zingers"?
Then don't fail to denigrate the lenders too.'
BTW...Franklin Raines, huh? Always gotta find a way to sneak a black dude into the mess, eh?
You cant deny Bernie's contribution even though you are doing it. And Bernie was the Occupy candidate. His run was extraordinary. Most donations ever for a candidate. Most popular senator in the country. A true people's candidate. Interesting that you also ignored the TPP.
The TPP may have beneficial to my business; I've been wanting to increase exports, but I'll survive without it. Not so much "ignoring it" as just not wanting to have a discussion about it or about my business with you (nothing personal; CD's political forum isn't the place).
Please provide sources for Bernie receiving the "donations ever;" the data I've seen says differently.
Denied Bernie's contribution to what? The $15 an hour minimum wage? It won't be happening on a federal level, and the small gains made on Nov. 9 don't seem like any big win for American workers. As far as "denying his contribution," not exactly -- I'm just not as willing as you are to give him credit for something that was already in the works by the time he came onto the scene.
Last edited by Metlakatla; 01-02-2017 at 12:50 AM..
The poor homebuyers weren't greedy...they were optimists who were sold a dream. Owning a home has always been the entree into the American Dream. If people have been sold that notion all of their lives, OF COURSE they're gonna take that risk because it's unimaginable that they won't find a way to keep it. After all, in their minds, they've been successful enough to find a way to get themselves into a home. Why wouldn't they take the dive?
The house wasn't above their means when they bought it after all. The payment was affordable. Most people didn't understand what they got themselves into. Hell, if the bankers didn't even understand the malaise they were creating long term (and that would include such "geniuses" as Alan Greenspan), how could the home buyer that's pretty much a novice know any better?
So i reserve my contempt for the people that should've known better....the bankers.
You should reserve it for Bill Clinton, whose HUD Secretary ordered Fannie and Freddy to buy $2.4 trillion in bad loans from the banks.
You should also be aware that banks had been under pressure to increase their sub-prime loans as a percentage of all loans or else face charges of racism and red-lining and lose both their FDIC insurance and ability to expand their business.
That was all thanks to the Democrats who pushed those policies in the Carter and Clinton administrations.
In the end, the banks didn't have to worry about it, because they could turn around and resell those bad loans to the federal government via Fannie and Freddy, dumping the whole problem on the taxpayers.
The taxpayers, from what I can tell, haven't had to pony up so far. Instead, the Fed has simply increased the national debt to cover the losses.
But we will pay for this in the end -- through taxes or inflation.
In the meantime, nobody cares about the people who really got screwed. Responsible homeowners who got prime loans in the years prior to the financial crisis. They overpaid for their homes because prices had been increased by the artificial demand for housing created by so many sub-prime loans.
They were forced by the government to make those loans, as I explain in my post (# 270) above.
Quote:
BTW...Franklin Raines, huh? Always gotta find a way to sneak a black dude into the mess, eh?
Yeah. It was all his fault.
Did he or did he not run Fannie during the years leading up to the crisis?
Did he or did he not walk away with $90 million?
Was he or was he not a friend of Obama's?
Did Obama work for ACORN or didn't he?
You need to pick better "black dudes" to represent you.
You'll find plenty of them in the Republican Party.
Last edited by dechatelet; 01-02-2017 at 12:27 AM..
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.
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.
