As a Mortgage lender during Bush and prior, I am very well aware of the day Lehman Brothers died. But all we knew for Bush's first years was the economy was growing fast and faster. We see it happening now. But Democrats are furious about it to the point they claim it is done not by Trump but by Obama. LMAO Obama as a citizen inherited it like you and I did. And like me and you, he did not save this nation. Industry and goods and services saved America. China chipped in as well. True lousy economies last a long time. I wonder if you understand by you saying it was so lousy for a long time that you dismiss a trend you love to quote? For a depression, I believe that inherited by Reagan lasted longer. Sure in housing, we took it in the shorts. Trust me, Democrats kept it at it's worst. Dodd Frank is such a lousy law, economists are still blaming it. I know i do. Trump has ridden a tide of stock price improvements. As a result the retirement plans of millions of Americans has vastly improved. I happen to know the entire history of sub primes since in my business, i lived it. I dealt with this daily. Some of you never dealt with sub primes. You read some reporters version is all you read. But it was lived by me daily for decades. Sure you think of sub primes as some invention during Bush. Truth is our first subprime was the result of WW2. Bet you did not know that. Bet you do not know that the adjustable loan used by the rank and file American was created prior to the Reagan election. Bet you do not know the very low down available to everybody loan was created in 1972, Did you know prior to that only the feds offered very low down payment loans. So what was the first sub prime? The VA offered it after the end of WW2. Did selling homes with zero down ruin the market on homes? No it did not. Buyers using VA could actually close escrow and get a check!!! Bet you did not know that. A seller could accept the 0 down loan and as part of the deal pay the closing costs for the Vet. I sold homes that the Vet got cash to him paid in escrow. What about those low down FHA loans we experts know about, used by millions of the public, do to damage the housing market? We called those loans by FHA good loans. They went to the poor. The poor got a chance to own a home and have the Feds back them up. What happened under Bush did not damage housing. At least nothing Bush did was not causing damage. I know loan history like no poster here on this forum. I lived it. You got the propaganda version told by Democrats.
Trust me on this. I have it on good faith that never, not at any time, has any Democrat touched the female vagina. They did not even the day of their birth.
You appear to know very little. Those small mortgages did not crash the economy or the housing market. The larger and jumbo mortgages accounted for the overwhelming preponderance of the devaluation,itself exacerbated by the lying liars who overvalued mortgage securities mostly based on them. And, since you love arguing to your own authority: I manage a lending portfolio for a financial institution as a career. So step up to the plate, Mr. Expert.
In California the California Department of Motor Vehicles (DMV) were in charge of registering citizens and non citizens including illegal aliens to vote. Just in three weeks the DMV registered 1,500 illegal aliens to vote. California has more registered voters than eligible voters. More than 23,000 Californians were registered to vote incorrectly by state DMV http://www.latimes.com/politics/la-pol-ca-dmv-voter-registration-error-20180905-story.html http://capitolweekly.net/voter-registration-errors-close-look/ http://www.latimes.com/politics/la-pol-ca-dmv-more-voter-registration-errors-20181008-story.html
I think that must be your personal emotional problem. I am white former christian of many many years male hetero gun owner taxpayer, wife a former business owner And I didn't get emotionaly upset. I disliked him because he turned into another DC politician who catered to Wall Street financiers in his cabinet. But I didn't feel attacked in any way by what he said or did. But then again, I don't get misinformed by RW talking BS on radio and TV.
I made no attribution. Only a statement of what happened during those terrible times that you just survived to get through. LOL
I'm well aware of the Neoliberal vision for having banks be the solution for everything, including poverty. It wasn't just to help the poor either, otherwise so much capital wouldnt have been mixed up in the CDOs and synthetic CDOs. It wasn't the subprime market that caused the collapse, but the financial instruments made to handle the risk turned into apolitical capital, and was all over the books of the globe's central banks. It used to be that people could afford to live in this country without credit, but now Conservatives want to have everything dependent on banking such that people are going into debt to buy essentials. And you think the Left who hates bankers are behind this scheme? You can thank the NeoLiberalism and Monetarism of the Right for these policies, which Bush continued. And Clinton was merely another Neoliberal, so I blame him as well.
The House, of course. President Dotard will find this to be more significant over the next two years than you do, I can assure you.
not triggered, I feel pretty good actually, we won the house, the next two years is looking much better, not sure why the right is talking about grabbing psy today, maybe they are not in as good a mood and are the ones 'triggered' as you call it
Because I don't believe you. How about some stats? What % of the population is living dependent on the gov't? Now that jobs are plentiful, they are going to be going to work. Those that couldn't find it 5 - 10 yrs ago. Jobs are going unfilled and wages are going up. Do I don't see that dependence you claim, but for disabled and the like. I had a job in the early 80s. And I considered myself lucky, for those that didn't were hurting. I wasn't in my 20 something in the 70s. What was the UE rate in your time frame? Remember, then was a very very strong middle class with good jobs. Thanks to NAFTA, there was not those jobs during the 2007/08 crash. That economy was smoke and mirrors with debt. Thanks to housing being an ATM. What they know is due to experience. I worked at something making money since I was around 8. When my kids were teens, it was hard to find them a job. Laws changed. And what they know then falls on you and me, for we didn't prepare them. Although, my kids did have to earn what they wanted. They never had Nike or brand name stuff, unless they paid for it.
You spoke of banks and not housing. I am the expert poster when it comes to housing, loans on housing and appraisals on housing. I do not see this as party at all. Are banks the solution. Well what is a bank. A bank is the repository to those who want not to hide money around their home, such as under a mattress or in a tin can buried in their yard, but a trusted place where they can make use of the money upon demand. Why use banks? The art of money is being able to earn from your labor, money that when placed in the bank actually also earns for you. A high rate of return does not mean safety. We saw this during Carter and people felt very unsafe. They got a high payment known as interest. And feared losing all of their capital. Banks however to stay in business, as a model they use, loan funds to borrowers. But back to housing. Housing has one major feature that tops all features. Location. Housing located in Fremont, CA (my city) outperforms housing located in Chicago and Rochester NY or in even Norfolk VA. A person asks the correct question as to why does Fremont housing outperform Norfolk Housing? Location to what? Location to high paying jobs. Location to good weather. Location to good education. Check on the education here in my city. It is top rated. To the typical political Democrat, the bank is the enemy. They so hate banks they run them down daily.
wow, Trump is tired or something, that was a terrible speech, he was trying way to hard to spin this as a win for republicans you know Trump is having a bad day side note : he really needs to spray paint his eyelids of gonna spray tan the rest of his face
What you feel is known as a high. Take the cocaine user, that high is short lived. Democrats refuse to study history or had they studied it, would not gloat today. We will see the gloating come to a halt. They will learn soon the term blocked by the Senate. Refused to be made law by the president. Then the tears will flow again.
I will look at the silver and not the mud tossed today by Democrats. Why not start bragging again? Did you forget this year has 2 remaining months. Trying hard, Ryan can get things to the Senate for passage. Trump will be pressured to sign such bills.
Yup, but productivity sours through the roof. I say the American people have been had by the top down design of Neoliberalism, they designed global Capitalism to use the Wall Street financial system to recycle global profits back into the American economy to produce investment. 70% of global profits have been flooding these unregulated financial markets for the past 30 years and it has produced bubble after bubble. It created the dot com bubble, the subrpime mortgage bubble was a wall street creation, and the ultimate credit bubble of sovereign debt and corporate debt are about to blow once the market starts to sell. And then all those jobs fueled by corporate debt will then lay off masses of workers, and the recession death spiral will begin.
Wow,I wonder if any of them thought of that? In reality,they will weaponzie that obstruction, forcing the republican senate to take clear positions on things like healthcare, SS and Medicare, education, foreign policy, and tax policy. Then , they campaign on this in 2020. Very simple.
It's probably not lost on Sane America that while Republicans did, as widely predicted, lose control of the House there are no angry protests, or riots, or rage-weeping, or vagina hats, or death threats, or gory mock beheadings, or hysterical Russian Collusion allegations, or scheduled Scream-At-The-Sky events.... We're just different, right-wingers... sanity makes us that way.
And that legislation did not cause the crash, anyway. The banks were rabid and more than happy to grant large mortgages to people who could barely afford them. This inflated their portfolios more than any subprime lending to the little guys did. Then, those same moochers walked away from those expensive properties when they went underwater, which was a rational choice.
