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Please re-read my posts. I did not say ALL BORROWERS were crooks. I said LOTS OF BORROWERS were, indeed, crooks, and not just ordinary folks trying to buy a nice home.
Of course everyone knew their income, however, those "crooks" I'm talking about just LIED on their loan applications because they knew that the information would not be verified. They wanted to BUY, then sell and make a big profit.......what's that called?
Sorry if this information contradicts your belief and strong attachment to your belief that minorities and other "ordinary" folks were so greedy that THEY caused ALL the problems in this fiasco.
Re-read what was posted, maybe you'll finally get the message: ALL were to blame,...including the FED. Fannie and Freddie contributed greatly to the problem,...not only lenders and borrowers.
Re-read what was posted, maybe you'll finally get the message: ALL were to blame,...including the FED. Fannie and Freddie contributed greatly to the problem,...not only lenders and borrowers.
1992 when Clinton was in office the push and pressure from the Fed on lenders was to provide affordable loans to minority and low income people. This is a train wreck that finally happened and all sitting in the Oval office saw it coming. Did you blame Bush people see the videos of the testimony in front of Barney Frank and Maxine Watters screaming that this was coming and Barney said nothing was wrong with Fredie and Fannie? Maybe you just forgot.
1992 when Clinton was in office the push and pressure from the Fed on lenders was to provide affordable loans to minority and low income people. This is a train wreck that finally happened and all sitting in the Oval office saw it coming. Did you blame Bush people see the videos of the testimony in front of Barney Frank and Maxine Watters screaming that this was coming and Barney said nothing was wrong with Fredie and Fannie? Maybe you just forgot.
I'm glad you brought this up...I was fixing to google it... Thanks...
I've bought three homes in my life and I had to PROVE each time that I could afford them.
1992 when Clinton was in office the push and pressure from the Fed on lenders was to provide affordable loans to minority and low income people. This is a train wreck that finally happened and all sitting in the Oval office saw it coming. Did you blame Bush people see the videos of the testimony in front of Barney Frank and Maxine Watters screaming that this was coming and Barney said nothing was wrong with Fredie and Fannie? Maybe you just forgot.
This is a fact that the Dems. today.........would rather overlook.
Well, this and the fact that it is THIS POTUS who has had.....such close ties with the likes of ACORN..........more so than Bush.
But, Bush also allowed it to go on and perpetuated/ignored the problem while he was in office too because, IMO.....allowing such easy home ownership kept a lot of construction workers, RE developers and MANY others.....securely employed during his, otherwise.....propped up economy constructed as a house of cards from the bottom up and allowed far more property tax revenue to be collected.....along with much more, for a while, anyway.
A disaster in the making......that many saw coming and chose to ignore 'til the bitter end.
1992 when Clinton was in office the push and pressure from the Fed on lenders was to provide affordable loans to minority and low income people. This is a train wreck that finally happened and all sitting in the Oval office saw it coming. Did you blame Bush people see the videos of the testimony in front of Barney Frank and Maxine Watters screaming that this was coming and Barney said nothing was wrong with Fredie and Fannie? Maybe you just forgot.
No,..I didn't forget. In fact that very fact was the reason for including the Fed in the fault catergory. Seems the Dems in charge of Freddie and Fannie refused to see the reality of the humongous failure looming, even when warned repeatedly by the Bush administration. In fact,...the dems praised the appointed leaders for their leadership,...including both Maxine Waters and Barney Frank.
I believe that our President, then Presidential Candidate, stated that things would get worse before they got better. It took a few or more terms of horrible ABSOLUTELY DETRIMENTAL presidents before President Obama to bring America to where it is now...So, why does everyone expect everything to happen in a matter of days and months? We, as Americans, have to find ways to survive while we wait for the calvary to come! Doing this, well, we just might save ourselves. However, change is coming but it takes us all-working together to get that change.
As an addendum: if politicians would stop being politicians and focusing so much on political parties and on what's best for America utilizing what we have available to us now then 'things' would get better a lot faster b/c we will be ONE NATION UNITIED UNDER ONE COLLECTIVE CAUSE...and not one nation u-n-t-i-e-d and divided against eachother. This weakens our position with world leaders, btw and makes us more vulnerable to our enemies.
Bring America to where it is now? Where? To it's knees?
This is a fact that the Dems. today.........would rather overlook.
Well, this and the fact that it is THIS POTUS who has had.....such close ties with the likes of ACORN..........more so than Bush.
But, Bush also allowed it to go on and perpetuated/ignored the problem while he was in office too because, IMO.....allowing such easy home ownership kept a lot of construction workers, RE developers and MANY others.....securely employed during his, otherwise.....propped up economy constructed as a house of cards from the bottom up and allowed far more property tax revenue to be collected.....along with much more, for a while, anyway.
A disaster in the making......that many saw coming and chose to ignore 'til the bitter end.
Property tax is not the feds concern, it goes to your local community.
Property tax is not the feds concern, it goes to your local community.
Doesn't matter........
TAX is tax and plenty of communities LOVED it and thrived well on the additional revenue for their coffers.....I mean, their pockets.
Also....it certainly.....helped make our economy APPEAR to be....far better than it EVER, truly was.
You think this isn't a coincidence?
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Ya think I could go over to the nearest military base and claim a "Hummer"?
