Fannie Mae Eases Credit To Aid Mortgage Lending - The Orange Mane

W*GS · 10-02-2008, 06:38 PM

From 1999...

8 years on, one of the pieces that's making the poop hit the fan.

http://query.nytimes.com/gst/fullpag...=&pagewanted=1

Bronco Bob · 10-02-2008, 09:12 PM

The problem wasn't moving ordinary working class folks into their own home.
The problem was predatory, unregulated lenders moving these folks into
home they couldn't afford and making them think they could afford it.

W*GS · 10-02-2008, 10:12 PM

Caveat emptor.

But thanks for supplying the standard left-wing excuse for a total lack of responsibility. It's always someone else's fault, isn't it?

Bronco Bob · 10-02-2008, 10:23 PM

What's irresponsible about wanting your own home?
And taking a nicer one than you thought you could
get when it was offered to you? These were low
income people, many with just probably a high school
education, or maybe even just a GED. They weren't
the freaking geniuses you fashion yourself to be.
These are people that work for a living, some two
jobs. They don't have time to wade through all the
legal mumbo jumbo. Someone says, hey I can get
you into your own home, they say cool, where do
I sign.

But thanks for supplying the standard right wing
excuse when corporate greed screws over the
working man. It's always the fault of the unwashed.

ak1971 · 10-03-2008, 04:30 AM

Quote:

Originally Posted by Bronco Bob

What's irresponsible about wanting your own home?
And taking a nicer one than you thought you could
get when it was offered to you? These were low
income people, many with just probably a high school
education, or maybe even just a GED. They weren't
the freaking geniuses you fashion yourself to be.
These are people that work for a living, some two
jobs. They don't have time to wade through all the
legal mumbo jumbo. Someone says, hey I can get
you into your own home, they say cool, where do
I sign.

But thanks for supplying the standard right wing
excuse when corporate greed screws over the
working man. It's always the fault of the unwashed.

There isnt anything wrong with wanting your own home. The problem is theat people have to understand that if you make $30K a year, you cant afford a $500K home. How hard is that? So yes, some of the 'blame' has to start with the borrower.

Unfortunaltely there were a number of these loans made, so yeah the lenders should have TD them, but hey, in the era of CDOs etc, you can move off the liablily of debt, and get paid, so then the CDO, MBS issuers etc should be to blame. Like I have said ad nauseum, there can be blame pointed at every corner..now just fix the issue and get on with it....

W*GS · 10-03-2008, 06:47 AM

Quote:

Originally Posted by Bronco Bob

What's irresponsible about wanting your own home?

Nothing - but living outside your means, regardless of the sales pitch, is irresponsible.

Quote:

Originally Posted by Bronco Bob

And taking a nicer one than you thought you could get when it was offered to you? These were low income people, many with just probably a high school education, or maybe even just a GED. They weren't the freaking geniuses you fashion yourself to be. These are people that work for a living, some two jobs. They don't have time to wade through all the legal mumbo jumbo. Someone says, hey I can get you into your own home, they say cool, where do I sign.

In other words, they're too stupid to figure it out. And gullible, too.

Nice.

Quote:

Originally Posted by Bronco Bob

But thanks for supplying the standard right wing excuse when corporate greed screws over the working man. It's always the fault of the unwashed.

Thanks for the populist nonsense.

L.A. BRONCOS FAN · 10-03-2008, 06:55 AM

Quote:

Originally Posted by Bronco Bob

But thanks for supplying the standard right wing
excuse when corporate greed screws over the
working man. It's always the fault of the unwashed.

Yep.

You can always count on Corporate Socialists like akawhack and Whigs to defend the ideology of privatization of profits/socialization of losses.

Rohirrim · 10-03-2008, 07:22 AM

Quote:

Originally Posted by W*GS

Caveat emptor.

But thanks for supplying the standard left-wing excuse for a total lack of responsibility. It's always someone else's fault, isn't it?

Wiggsy: The one trick pony.

barryr · 10-03-2008, 07:25 AM

Don't worry, Obama plans to provide more handout programs that will bite everyone in the butt down the road as well.

L.A. BRONCOS FAN · 10-03-2008, 07:26 AM

Sarah?

Is that you?

Garcia Bronco · 10-03-2008, 07:27 AM

Quote:

Originally Posted by Bronco Bob

What's irresponsible about wanting your own home?
And taking a nicer one than you thought you could
get when it was offered to you? These were low
income people, many with just probably a high school
education, or maybe even just a GED. They weren't
the freaking geniuses you fashion yourself to be.
These are people that work for a living, some two
jobs. They don't have time to wade through all the
legal mumbo jumbo. Someone says, hey I can get
you into your own home, they say cool, where do
I sign.

But thanks for supplying the standard right wing
excuse when corporate greed screws over the
working man. It's always the fault of the unwashed.

Come on Bob.

barryr · 10-03-2008, 07:30 AM

Quote:

Originally Posted by L.A. BRONCOS FAN

Sarah?

Is that you?

Marx, is that you?

L.A. BRONCOS FAN · 10-03-2008, 07:32 AM

It must be Sarah - same political IQ.

W*GS · 10-03-2008, 08:41 AM

Quote:

Originally Posted by L.A. BRONCOS FAN

You can always count on Corporate Socialists like akawhack and Whigs to defend the ideology of privatization of profits/socialization of losses.

You can't help lying, can you?

Seek professional help.

alkemical · 10-03-2008, 08:54 AM

Quote:

Originally Posted by barryr

Don't worry, Obama plans to provide more handout programs that will bite everyone in the butt down the road as well.

You mean like...bailing out corporations?

Bronco Bob · 10-03-2008, 03:59 PM

Quote:

Originally Posted by W*GS

In other words, they're too stupid to figure it out. And gullible, too.

Never said they weren't. In fact that's my whole point. These people
were innocent and naive and were taken advantage of by some
slick loan shysters.

L.A. BRONCOS FAN · 10-03-2008, 06:25 PM

Quote:

Originally Posted by Bronco Bob

Never said they weren't. In fact that's my whole point. These people
were innocent and naive and were taken advantage of by some
slick loan shysters.

But you can always count on W*GS and the rest of the Corporate Socialist Party to blame the victims.

cutthemdown · 10-03-2008, 06:32 PM

Quote:

Originally Posted by Bronco Bob

The problem wasn't moving ordinary working class folks into their own home.
The problem was predatory, unregulated lenders moving these folks into
home they couldn't afford and making them think they could afford it.

I agree in the sense they should have explained better what would happen if housing prices fell and they couldn't refinance.

The little homeowner though is not blameless. You have to take responsibility for anything like a loan or contract.

How did they make them think they could afford it. People know how much money they make and only a fool would not realize housing doesn't always go up. Any simple research will show lulls every decade.

cutthemdown · 10-03-2008, 06:33 PM

Quote:

Originally Posted by L.A. BRONCOS FAN

But you can always count on W*GS and the rest of the Corporate Socialist Party to blame the victims.

It's not that black and white IMO. I'm sure some people were duped but others just gambled and lost.

L.A. BRONCOS FAN · 10-03-2008, 06:36 PM

Quote:

Originally Posted by cutthemdown

It's not that black and white IMO. I'm sure some people were duped but others just gambled and lost.

True - but none of those people are getting bailed out by the government.

You have to be a really BIG gambler/crook for that.

cutthemdown · 10-03-2008, 06:46 PM

Quote:

Originally Posted by L.A. BRONCOS FAN

True - but none of those people are getting bailed out by the government.

You have to be a really BIG gambler/crook for that.

I totally understand the frustrations that big companies matter more then small ones. And that little ole ladies who made bad loans aren't going to get helped.

Let's face it sometimes the world is just unfair. That doesn't mean we should let the economy crash by not doing anything.

I guess there is a chance that by doing nothing things would also work out. Or by bailing out homeowners it couldn't also still work out. I just understand that govt is heartless and it probably won't be any different fundamentally under Obama.

maybe little changes and a different type of justice dept. Different objectives for DEA, FBI, CIA etc. But for us little guys I would think we will still have to work and make our own decisions when it comes to borrowing money for a home or running up credit card debt.

I'm not too worried I sold my house and live in one owned by family. My rent in pretty much nil. My car is 10 yrs old and paid for and I don't care it's old. I have 0 credit card debt. 0 debt period. Trust me I wish my tax dollars didn't have to go for a bailout.

L.A. BRONCOS FAN · 10-03-2008, 06:50 PM

Quote:

Originally Posted by cutthemdown

I totally understand the frustrations that big companies matter more then small ones. And that little ole ladies who made bad loans aren't going to get helped.

Let's face it sometimes the world is just unfair. That doesn't mean we should let the economy crash by not doing anything.

That's the same trickle-down thinking that got us into this mess in the first place.

How many Red Ink Reagans and George W. Bushes will it take for the righties to understand that you can't grow the economy from the top down?

cutthemdown · 10-03-2008, 06:54 PM

Quote:

Originally Posted by L.A. BRONCOS FAN

That's the same trickle-down thinking that got us into this mess in the first place.

How many Red Ink Reagans and George W. Bushes will it take for the righties to understand that you can't grow the economy from the top down?

I think you have to grow the economy from all directions. If the Democrats want to try and help small business with tax cuts I am all for it. What I am not for is tons of money for unemployment and welfare.

How do you propose to create jobs?

L.A. BRONCOS FAN · 10-03-2008, 07:13 PM

Quote:

Originally Posted by cutthemdown

I think you have to grow the economy from all directions. If the Democrats want to try and help small business with tax cuts I am all for it. What I am not for is tons of money for unemployment and welfare.

How do you propose to create jobs?

By investing in the rebuilding of our crumbling infrastructure and by making the transition to alternative energy sources, for starters.

By punishing corporations that outsource jobs and move their operations overseas.

Bronco Bob · 10-03-2008, 07:20 PM

Energy, that's the way to create jobs.
I have no problem with building nuclear power plants either. That
would create a lot of jobs too. As would getting serious about
wind, solar, and biomass. I'm still not convinced clean coal is
as clean as they make it out to be. Ethanol made from corn
is a fool's errand, but I guess it keeps the farmers employed.

10-02-2008, 06:38 PM	#1
W*GS Ring of Famer Join Date: Jan 2004 Location: Earth Posts: 19,511	Fannie Mae Eases Credit To Aid Mortgage Lending From 1999... 8 years on, one of the pieces that's making the poop hit the fan. http://query.nytimes.com/gst/fullpag...=&pagewanted=1

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10-02-2008, 09:12 PM	#2
Bronco Bob Tastee Freeze Join Date: Dec 2002 Posts: 9,464 Adopt-a-Bronco: Champ Bailey	The problem wasn't moving ordinary working class folks into their own home. The problem was predatory, unregulated lenders moving these folks into home they couldn't afford and making them think they could afford it.

10-02-2008, 10:12 PM	#3
W*GS Ring of Famer Join Date: Jan 2004 Location: Earth Posts: 19,511	Caveat emptor. But thanks for supplying the standard left-wing excuse for a total lack of responsibility. It's always someone else's fault, isn't it?

10-02-2008, 10:23 PM	#4
Bronco Bob Tastee Freeze Join Date: Dec 2002 Posts: 9,464 Adopt-a-Bronco: Champ Bailey	What's irresponsible about wanting your own home? And taking a nicer one than you thought you could get when it was offered to you? These were low income people, many with just probably a high school education, or maybe even just a GED. They weren't the freaking geniuses you fashion yourself to be. These are people that work for a living, some two jobs. They don't have time to wade through all the legal mumbo jumbo. Someone says, hey I can get you into your own home, they say cool, where do I sign. But thanks for supplying the standard right wing excuse when corporate greed screws over the working man. It's always the fault of the unwashed.

10-03-2008, 07:25 AM	#9
barryr Ring of Famer New to the Forum Join Date: Aug 2007 Posts: 8,267 Adopt-a-Bronco: None	Don't worry, Obama plans to provide more handout programs that will bite everyone in the butt down the road as well.

10-03-2008, 07:26 AM	#10
L.A. BRONCOS FAN Mo' holla fo' yo' dolla! Join Date: Dec 2002 Location: In a bunker in an undisclosed location Posts: 52,694	Sarah? Is that you?

10-03-2008, 07:32 AM	#13
L.A. BRONCOS FAN Mo' holla fo' yo' dolla! Join Date: Dec 2002 Location: In a bunker in an undisclosed location Posts: 52,694	It must be Sarah - same political IQ.

10-03-2008, 07:20 PM	#25
Bronco Bob Tastee Freeze Join Date: Dec 2002 Posts: 9,464 Adopt-a-Bronco: Champ Bailey	Energy, that's the way to create jobs. I have no problem with building nuclear power plants either. That would create a lot of jobs too. As would getting serious about wind, solar, and biomass. I'm still not convinced clean coal is as clean as they make it out to be. Ethanol made from corn is a fool's errand, but I guess it keeps the farmers employed.