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Now the Liberal Liar rocky mtn bill would have you all believing that Banks willingly lent money and gave mortgages to people that they knew would be unable to repay the loans.

Billy is a guy who can make excuses for anything the Liberal Left does... including incrementally taking away our 2nd Amendment rights.

Billy absolutely refused to even acknowledge my last post. He refused to tell us how Lyndon B. Johnson's arm twisting made a whole lot more Republicans than Democrats vote for the 1964 and 1965 Civil Rights Bills. He refused to acknowledge LBJ's well known and extreme racism... while he calls President Trump a racist here dozens of times. And he wouldn't or couldn't explain his wild-assed claims about Obamacare.

It's a shame Dave banished jOe, and kept a lying turd like this who blindly supports those who would love to take our guns. Billy is a typical Liberal. If he had his way, the corporations that employ the people who pay for his precious Socialist Welfare programs would be taxed to death and driven into oblivion. Then when they simply left, and the country swirled down the toilet like Venezuela, Billy would find a way to blame Trump, Reagan, and the Bush's.

Wondered why old Ho-Jo did a disappearing act on this forum? So our gracious host Dave W, "pulled the pin" on the gent from the Volunteer State-- well, life goes on, does it not?? RWTF

'Now the Liberal Liar rocky mtn bill would have you all believing that Banks willingly lent money and gave mortgages to people that they knew would be unable to repay the loans.'

errrr....that's exactly what they did. giving loans even if they had no job in some cases....


"In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods. It is the subject of heated political and scholarly debate whether any of these moves are to blame for our troubles, but they certainly played a role in creating a permissive lending environment."

The worst part was that the mortgages were allowed to be traded, and exempt from regulations. This policy was carried on by Bush for two terms.

The whole story
https://en.wikipedia.org/wiki/Government_policies_and_the_subprime_mortgage_crisis

just say'n

P.S.- so you may be right, that banks were NOT willing to lend money, but were pressured into it...hmmmm

That's correct dal, the Banks were forced to make loans to people that they traditionally would have turned down. George Bush was accused of racism and being cruel to poor people when he urged Congress to reverse this insane policy signed into law by Democrat Bill Clinton. But banks and bankers aren't stupid, and they knew they would be left holding the bag when these people began defaulting on mortgages on homes they couldn't afford. So they legally bundled these bad subprime loans and dumped them on others, including Fannie Mae and Freddie Mac. Then taxpayers and stockholders in these entities were killed when the House of Cards came crashing down. The crash was accelerated by outsourcing of millions of manufacturing jobs due to insane foreign trade deals. All of a sudden, people who had been able to make those big mortgage payments for a while, found themselves laid off and without a paycheck. That's when we began seeing record numbers of foreclosures that led to the meltdown.

We could try to then blame Bush for not stopping the major banks from bundling and selling bad subprime loans, but he didn't have the votes to do it. And even if he did, then the banks would have failed, and we all would have quickly learned that the FDIC does not have nearly enough to cover us when our banks closed and told us our savings were gone. It could have been much worse. Most of the ground work for the recovery such as TARP was started by Bush, and handed off to Obama.

It was not only predictable, it was absolutely predicted, but the Democrats did it anyway. People who had the dream of home ownership, but not the means to pay for it lost everything. Many of them still haven't recovered from the temptation that bankrupted them and inevitably ruined their credit. And the resulting Great Recession of 2008 almost became a global Depression, and cost all of us dearly in terms of job losses, losses in 401-K's and IRA's that delayed retirements or made retirement impossible for some, and a decade of depressed wages and chronic high unemployment.

So it remains true that the best welfare program and the best health care program is an economy where the majority of people can find and hold a decent job and earn enough to pay their own way. Driving corporations away through high taxes and excessive regulation won't accomplish that, and no poor man has ever employed me. Billy was employed as a teacher by taxpayers, so he sees a well that he thinks can never run dry.

Earning the stupidest comment ever is, in some way, quite self-satisfying. I never excel at anything.

This thread is a perfect reason to bring back Misfires. It started out as a 2nd Amendment thread and devolved into a diatribe about parties and politicians. I get it, they can be intertwined with the 2nd A but this just went down a deep deep rabbit hole.
I don't have an issue talking politics for politics sake in the appropriate section (misfires) but folks need to stick to the initial topic of the thread.

Don't forget the detour into racism.

Alan

"The worst part was the mortgages were allowed to be traded." Yes. Keith calls anyone who disagrees with him a liar. He adores Trump. Trump has been proven by non=partisan sources to have lied more then 8500 times these past two years. That doesn't count with Keith because he agrees with Trump that the truth is whatever he happens to believe.

Well, Bill, I have been lied to by a politician. He told me a few whoppers. If I liked my doctor, I could keep my doctor. If I liked my health plan, I could keep my health plan. My costs for my health plan I liked would go down $2500 a year.
Did I ever mention my health plan, that had cost about $2300 a year,was taken away from me, and the new one the liar stuck me with, went up to almost $10,000 a year, and had a $10,000 deductible? Because, it did.

Oh wait, I just remembered-that wasn�t Donald Trump.

Best,
Ted

Ted, that's four lies. He has along way to go if he means to keep up.