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- Smoking Guns
- Rep: 330
- Smoking Guns
- Rep: 330
Re: US Politics Thread
Very good conversation on Freddie and Fannie and you can see how it is clearly tied together. To separate these to government back companies and say they have no role is beyond silly.
Re: US Politics Thread
Smoking Guns wrote:That is incorrect.. Fannie Mae was VERY much involved.... They helped push up demand for housing in the low end of the market making subprime loans more attractive to other institutions as housing prices rice steadily. They bought 25% of the 272.81 billion in subprime mortgage back securities in 2006, 35.3% in 2005 and 44% in 2004. They were a big player..
You started off talking about the community reinvestment act. I addressed that. You then answered me with Fannie Mae-which isn't the same thing. However there is no connection between the two. In addition it's private lenders who gave out the bulk of subprime loans. The private lenders were not beholden to any government regulation or oversight. These private mortgage lenders were propped up with hedge fund money in most cases. As soon as these loans were issued, they were sold off to be repackaged by Wall Street. Once they were repackaged into securities, the agencies gave them AAA ratings (to me one of the biggest offenses.) Those crappy security bundles were then sold to retirement pensions around the country and world. After a certain point the same people selling them (Goldman Sachs for instance) began to short them. All of this is just a segment of what was going on with Wall Street preceding the crash.
It's just one more cheap lie hustled from the right, so everybody would blame "poor people" for the crash instead of Wall Street. How anybody could fall for something so ridiculous and transparent is beyond me. Reminds me of my asshole cousin who said the same thing during the crash. Guess he couldn't take responsibility for the 8 homes and one condo he lost in south Florida. Of course he blamed it on everybody but himself. Can't say I felt sorry for him...
Smoking Guns wrote:You friend is wrong. Fannie Mae and Freddie Mac were involved and were part of the game but were not the sole reason.
Again, do you think Dodd/Frank is about oversight for Fannie Mae? Or Wall Street? Hello???
If you aren't aware, the Republicans want to get rid of that. Lifting regulations on Wall Street once again so they can be free to partake in more fuckery, risky loans, CDOs and OTC derivatives. It will probably be one of the first things (in theory) that Trump does. Give Wall Street free range to run riot.
Fantastic post!
And again, this is standard Repug procedure....deregulation...no protections for the consumer...
poor people are always the problem right SG?
Re: US Politics Thread
Hilarious seeing this and terrifying.
For you Americans that see this "creature" making the rounds on US media.
He's not the leader of the opposition in the UK nor did he lead the leave campaign here. He's a politician that stood for election 7 times in different constituencies each time and failed.
Basically like calling someone a Senator/congress man after they failed to get elected in 7 different states over the decades.
He was also kept off TV by the official LEAVE campaign too in the UK, which he didn't lead nor was he apart off. Even the right wing in this country wanted nothing to do with him. His only allies in the UK are the fringe loony far right that never got elected and the Daily Express/Mail
- Smoking Guns
- Rep: 330
Re: US Politics Thread
That is the public comment, behind the scenes Slash, Axl, Duff exchange High 5's for their tax rate is about to go down. Axl and Trump are very similar. They don't give a fuck.
Re: US Politics Thread
Trump just handed all power to the establishment Republicans. So much for the cheering for the outsider anti establishment! Trump backers are already crying betrayal, that he didn't drain the swamp but gave control to the head alligator in Preibus. I'd laugh but this is going to hurt a lot of people.
If they try to touch medicare instead of capping pharmaceutical companies and medical practices, I'll be joining the protestors.
Re: US Politics Thread
At least 2/5(6?) of GnR voted Trump.
Duff, obviously, because he's spineless & a rich bastard & Melissa because she's a white woman.
Axl's a maybe. But he's a hick so I wouldn't be surprised.
Slash & Frank are black so they didn't bother voting.
Dizzy..?? Probably a Gary Johnson guy..
Inb4 someone says Melissa isn't white/frank's Latino.
