Black Reparations.

Congress passes regulations and Bush's plan was to assist with down payments which would have protected the borrowers and the lenders but Barney Frank's and Congress refused claiming there was no problem.

The Dem's were handed a sound economy and a paltry deficit what did they do to help mitigate the slowdown then recession and then get us into a full recovery other than send the deficits soaring?

 

BINGO! You just pointed to the difference between the Holocaust and the slavery.
It was all individuals doing shitty things EVERYWHERE. Can’t prosecute German children. Can’t cast blame. But the slavery was different - you can prosecute White American children, Blacks deserve reparations.
Esau - you are a GENIUS!

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You cannot convince idiots, so instead of arguing - agree with them, making their ideas even more stupid.

 

Republicans passed those bills, they had full control

 

if black folk think they are going to get reparations off of Biden or any other white supremacist politician in USA then they'll need hell to freeze over first. USA was and still is a racist rogue nation.

 

Which bills and be specific.

Bush fixed the banking almost collapse with TARP, that was done. All the Dems had to do was mitigate the eocnoomic slowdown and get us into a full recovery. They totally blew it just as Biden blew the recovery he inherited.

 

sure - in 2004

https://www.nytimes.com/2008/12/21/business/worldbusiness/21iht-admin.4.18853088.html

"From his earliest days in office, Bush paired his belief that Americans do best when they own their own homes with his conviction that markets do best when left alone. Bush pushed hard to expand home ownership, especially among minority groups, an initiative that dovetailed with both his ambition to expand Republican appeal and the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards."

"Bush Ties Policy to Record Home Ownership" March 26, 2004

https://www.foxnews.com/story/bush-ties-policy-to-record-home-ownership

"Late last year, Bush signed the American Dream Down Payment Act (search) to help families that can afford monthly mortgage payments but not the down payment or closing costs associated with buying a house. The legislation

 

Yes the down payment act which did not cause the mortgage collapse which was due to the no down payment subprime mortgages. All that act did was establish a savings program for down payments.

And was a bipartisan bill passed by voice vote there were no objections.

"Introduced in Senate (08/02/2022) This bill establishes qualified down payment savings programs that allow taxpayers to establish tax-free accounts to save for down payments, including closing costs, on a principal residence."

S.4722 - American Dream Down Payment Act of 2022
https://www.congress.gov/bill/117th...ualified down,costs, on a principal residence.

Try again.

 

the reason that happened is Bush did not was regulations, he wanted the banks to police themselves

 

The reason it happened was because Barney Frank along with other Dems assured the Congress that FREDDIE and FANNIE were just fine.

And the fact remains Bush took care of it, the Dems didn't have to. All they had to do was keep the slowdown and recession under control and us back into a full recovery.

How successful were they?

 

nope, relaxed regulations due to republicans led to lax lending, that is what got us there

 

Bush's program was about down payment savings get your facts straight.

 

I haven't forgotten your Post and apologize if I have mistakenly provided false information.

In addition to getting ready to feed over forty people soon I'm checking my information before responding.

Enjoy your holidays.

Thanks,

 

500 years from now, if Democrat Politicians haven't destroyed America, and made us into a Communist Socialist country, blacks can complain about maybe, but they're not sure, if their great great great great great great great grandpa was a slave. And even if their ancestors weren't slaves, they are black, so they deserve something from whitey, right?

 

.

 

Except that ours was different.
Yes, Africans Did Sell Africans Into Slavery | Medium

 

Actually Barnie Frank crashed the market by demanding the 'mark to market' rule, wherein fraudsters could no longer make up total bullshit re the actual values of their collateral, which of course all the real estate scammers were doing. When the con artists suddenly stopped loaning each other money liquidity in CDO's and overnight loans dried up that caused a massive loss of equity market values on collateral and banks started making margin calls due to the reduced valuations in the collateral, which were impossible to cover due to leverages of up to 35 to 50 times the values of the inflated valuations being the norm for many of those CDO's and tranches of derivatives.

Frank collapsed the market by forcing crooks to value their paper at something closer to their actual market values. It wasn't 'the bad debt govt. forced on the markets', as we know from the cases of Thornburg Mortgages going under; they had nothing but high quality prime loans on their books, less than 0.2% default rates, and they were among the first to go down in the U.S. due to the suddenmargin calls by lenders.

Frank crashed the markets by merely implementing a rules that shut down the massive frauds, is all.

https://www.mcclatchydc.com/news/nation-world/national/economy/article24531937.html

https://en.wikipedia.org/wiki/Thornburg_Mortgage

The people to blame for the collapse were the banks and lenders who packaged crappy paper with good paper so that nobody knew how much bad paper they had, so that even 'sound' borrowers suffered when the liquidity dried up and collapsed demand. If anything the govt. had made it easier for these 'business experts and financial geniuses' to swindle each other and the public by lax 'business friendly' oversight and pro-business policies.

Look to people like Newt Gingrich, Phil Gramm, and Dick Armey and others for the roots of the disasters.

And, they're going to do the same thing again, hopefully, i.e. start demanding real market values being used to determine equity margins.

 

The slave owners believed that.

 

I remember and old friend of mine who was a regional manager for FoMoCo (Ford) credit. They financed the dealer inventories, also handled Mazda at the time. Over beers one day he said "let me tell you about the car sales business, it's not about selling cars it's about selling paper (loans)".

All those mortgages banks and others sign up get sold to investors. Investors like to buy good deals. When the high risk mortgages were forced onto those companies they had to sell them to someone but no one would buy them. So they wrap them into a bunch of good ones to lessen the risk. Lots of that came from the anti-redlining proponents. It wasn't race that lessened lendings in some areas it was the risk of the property and the borrowers. Well when the whole house of cards started to fall it started to take the good mortgages with the bad. It wasn't some plot by the lenders but simply how they had to adapt with the government pressures on them to loan to people who were not financial able or responsible enough to take out mortgages.

At least Bush's plan was to help with potential buyers saving up down payments so they would have some equity as a buffer to price fluctuations and banks would not have to foreclose on loans where the numbers went negative.

 

not sure why youre responding to a specific post of mine with a random rant that adresses none of my comments. why even bother?