H8tank Posted December 1, 2008 Share Posted December 1, 2008 Spin this... The Community Reinvestment Act is to blame for the financial crisis, but it so powerfully serves Democrats' interests that they'll do anything to protect it — including revising history. The CRA coerces banks into making loans based on political correctness, and little else, to people who can't afford them. Enforced like never before by the Clinton administration, the regulation destroyed credit standards across the mortgage industry, created the subprime market, and caused the housing bubble that has now burst and left us with the worst housing and banking crises since the Great Depression. But what do they know... http://www.investors.com/editorial/editori...312766781716725 Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted December 1, 2008 Share Posted December 1, 2008 [ghost of skins] You lost, get over it. [/ghost of skins] Quote Link to comment Share on other sites More sharing options...
H8tank Posted December 1, 2008 Author Share Posted December 1, 2008 [ghost of skins] You lost, get over it. [/ghost of skins] Did you happen to notice the market today? This is not about the election. Shoo Angolina. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted December 1, 2008 Share Posted December 1, 2008 Are the majority of foreclosures a result of minority borrowers? Quote Link to comment Share on other sites More sharing options...
wiegie Posted December 4, 2008 Share Posted December 4, 2008 (edited) But what do they know... apparently (and not surprisingly), jack sh|t http://www.federalreserve.gov/newsevents/s...er20081203a.htm I will also discuss the findings of a recent analysis of mortgage-related data by Federal Reserve staff that runs counter to the charge that the CRA was at the root of, or otherwise contributed in any substantive way, to the current subprime crisis... Contrary to the assertions of critics, the evidence does not support the view that the CRA contributed in any substantial way to the crisis in the subprime mortgage market. But what does the Federal Reserve know... Edited December 4, 2008 by wiegie Quote Link to comment Share on other sites More sharing options...
Randall Posted December 4, 2008 Share Posted December 4, 2008 When are we getting over this partisan division and do what's best for the country? I think Obama wants to get there and wants a government that's neither right nor left but one that functions well. Quote Link to comment Share on other sites More sharing options...
wiegie Posted December 4, 2008 Share Posted December 4, 2008 When are we getting over this partisan division and do what's best for the country? I think Obama wants to get there and wants a government that's neither right nor left but one that functions well. What does this post have to do with this thread? Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted December 4, 2008 Share Posted December 4, 2008 What does this post have to do with this thread? Where's Mr. Myopia when he's needed? Clearly this was a shot at the Dems and Clinton, with a liberal (whoops) sprinkling of racism, my friends. Quote Link to comment Share on other sites More sharing options...
wiegie Posted December 4, 2008 Share Posted December 4, 2008 Where's Mr. Myopia when he's needed? Clearly this was a shot at the Dems and Clinton, with a liberal (whoops) sprinkling of racism, my friends. I am not arguing my position from a partisan position. I am arguing it from a scientific position that we can look at the evidence to see if certain claims are right or wrong. Randall's comment did a disservice to everyone's intelligence by implying that there are no true answers, but only partisan positions. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted December 4, 2008 Share Posted December 4, 2008 I am not arguing my position from a partisan position. I am arguing it from a scientific position that we can look at the evidence to see if certain claims are right or wrong. Randall's comment did a disservice to everyone's intelligence by implying that there are no true answers, but only partisan positions. Given that, isn't economic cause and effect at the level he is talking here a bit qualitative? Could we really be able to tell with scientific theory an exact cause for the meltdown, or does human nature and it's intangibles taint that conclusion? (And kudos to you for trying to make a reasonable conversation out of a thinly-veiled political diss.) Quote Link to comment Share on other sites More sharing options...
wiegie Posted December 4, 2008 Share Posted December 4, 2008 Given that, isn't economic cause and effect at the level he is talking here a bit qualitative? It is both qualitative and quantitative (and you can use evidence to determine the qualitative causes too). This is indeed a question that can be answered by looking at the evidence. Quote Link to comment Share on other sites More sharing options...
TimC Posted December 4, 2008 Share Posted December 4, 2008 But what does the Federal Reserve know... Not much. They are the main reason we're in this mess with the artificial way they have attempted to control the economy for all these years. These unelected and unaccountable people are more powerful than the President and Congress combined. Quote Link to comment Share on other sites More sharing options...
wiegie Posted December 4, 2008 Share Posted December 4, 2008 Not much. They are the main reason we're in this mess with the artificial way they have attempted to control the economy for all these years. These unelected and unaccountable people are more powerful than the President and Congress combined. You are not incorrect. I should have made a distinction between research economists at the Fed and the policymakers at the Fed (read: Alan Greenspan). Quote Link to comment Share on other sites More sharing options...
H8tank Posted December 4, 2008 Author Share Posted December 4, 2008 (edited) But what does the Federal Reserve know... You mean a bush appointed lackey who has never had to work an honest days work in his life? He has always either been attending school or teaching at one. Graduated 1990 Assistant Professor (1990-1994) and Associate Professor (1994-1999) Professor at the University of Chicago from 1999 to 2006 Dr. Kroszner was a member of the President’s Council of Economic Advisers (CEA) from 2001 to 2003. A career 'insiders' opinions vs. the real world facts as discussed in the INVESTORS BUSINESS DAILY? PUHLEESE! This is weak sauce even for Atomoranic, let alone a career gov't educator. Edited December 4, 2008 by H8tank Quote Link to comment Share on other sites More sharing options...
Randall Posted December 4, 2008 Share Posted December 4, 2008 Watch the congress on CSPAN and you'll see what I'm referring to. We have real problems right now and need to set partisan bickering aside. It really hasn't improved much. Quote Link to comment Share on other sites More sharing options...
millerx Posted December 5, 2008 Share Posted December 5, 2008 (edited) Watch the congress on CSPAN and you'll see what I'm referring to. We have real problems right now and need to set partisan bickering aside. It really hasn't improved much. The way it should be: see above in bold. The way it is: Okay you put your gun down first... no, you first..no, you first... alright, alright...we'll do it together on the count of three ....1...2...3... aww...aww..aww...I said together... okay..1...2...3... you didn't do it!...well, neither did you!... Ya, but I'm right!...no, I'm right... And repeat. Edited December 5, 2008 by millerx Quote Link to comment Share on other sites More sharing options...
Randall Posted December 5, 2008 Share Posted December 5, 2008 The way it should be: see above in bold. The way it is: Okay you put your gun down first... no, you first..no, you first... alright, alright...we'll do it together on the count of three ....1...2...3... aww...aww..aww...I said together... okay..1...2...3... you didn't do it!...well, neither did you!... Ya, but I'm right!...no, I'm right... And repeat. [/quote It may be time to move congress to NYC. 3 1/2 years for each congress person with a gun is a good start. I know what you're saying but we could work on what we agree on ignoring the rest rather than the other way around. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted December 5, 2008 Share Posted December 5, 2008 The way it should be:see above in bold. The way it is: Okay you put your gun down first... no, you first..no, you first... alright, alright...we'll do it together on the count of three ....1...2...3... aww...aww..aww...I said together... okay..1...2...3... you didn't do it!...well, neither did you!... Ya, but I'm right!...no, I'm right... And repeat. There you go harping on gun control again. Partisan Hack. Quote Link to comment Share on other sites More sharing options...
Randall Posted December 5, 2008 Share Posted December 5, 2008 (edited) There you go harping on gun control again. Partisan Hack. Shouldn't everyone in congress pack a gun? I don't buy the prtisan stuff. Put your ideology aside to get this country turned around. We bash players for selfishness but not politicians and corporations? Is this a me or a we society? We do great things when we do them together. FDR ordered the car companies to stop making cars during WW2. This is another serious time. Edited December 5, 2008 by Randall Quote Link to comment Share on other sites More sharing options...
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