28 Nov 11
2 edits
Originally posted by KazetNagorraYou forgot the biggest defender of Fannie mae and freddie mac.
I've only ever heard of him from the hyperpartisan contributors at RHP. I guess he is some "liberal" bogeyman with otherwise no real significance.
&feature=related
&feature=related
&feature=related
&feature=related
- Joined
- 03 Feb 07
- Moves
- 199196
28 Nov 11
Actually, it's a huge loss for progressive causes in Congress. Huge. But somehow, the media managed to blame the financial crash anti-discrimination policy in lending, which he pushed. Damned black people getting loans and buying houses - that's the problem!
But what I'll miss is his candor. He does not try to be something for everybody, and he's not afraid to offend a voter or two to make a point - especially when responding to a nutball from the audience.
http://kunsoo1024.wordpress.com/2009/08/18/catharsis/
30 Nov 11
3 edits
Originally posted by KunsooHis candor? He's not afraid to offend a voter?
Actually, it's a huge loss for progressive causes in Congress. Huge. But somehow, the media managed to blame the financial crash anti-discrimination policy in lending, which he pushed. Damned black people getting loans and buying houses - that's the problem!
But what I'll miss is his candor. He does not try to be something for everybody, and he's not a ...[text shortened]... ing to a nutball from the audience.
http://kunsoo1024.wordpress.com/2009/08/18/catharsis/
Perhaps you are talking about him having an affair with one of the CEO's of Fannie Mae while overseeing them into economic oblivion while sounding the praises of that particular institution the entier time. Not to worry though, the tax payers had your back the entire time via bail outs.
Maybe he was secretly hoping they would throw him in the Big House for such ethical behavior in the hopes of a being locked in a cell with a 300 pound man named "Bubba"......if you know what I mean.
Hey Barney, don't let the door hit you in the arse....unless you enjoy it, of course. 😛
30 Nov 11
Originally posted by utherpendragonLargest house recipient of largess from Fannie and Freddie, along with on the Senate side Chris Dodd, and Barrak Obama.
[b]You forgot the biggest defender of Fannie mae and freddie mac.
http://www.youtube.com/watch?v=bijtBkKQwY8
http://www.youtube.com/watch?v=2UZ9l_AxKjA&feature=related
http://www.youtube.com/watch?v=w-YtqVIKTTE&feature=related
http://www.youtube.com/watch?v=4fKpBPRKbvQ&feature=related
http://www.youtube.com/watch?v=LPSDnGMzIdo&feature=related[/b]
30 Nov 11
Originally posted by Kunsoo" But somehow, the media managed to blame the financial crash anti-discrimination policy in lending, which he pushed. Damned black people getting loans and buying houses - that's the problem!"
Actually, it's a huge loss for progressive causes in Congress. Huge. But somehow, the media managed to blame the financial crash anti-discrimination policy in lending, which he pushed. Damned black people getting loans and buying houses - that's the problem!
But what I'll miss is his candor. He does not try to be something for everybody, and he's not a ...[text shortened]... ing to a nutball from the audience.
http://kunsoo1024.wordpress.com/2009/08/18/catharsis/
Sorry, that dead horse is out of the barn. The Boston Fed put out a highly unscientific study relating larger denials of mortgages to black applicants. Of course the greater number of denials had to be based on their race? Right? Wrong.
A year later the Fed's study was reopened and subjected to rational review. It would be expected that if the denials were "racial" then a higher standard of underwriting was applied, and therefore rates of foreclosure would certainly be much lower among black mortgagees. It was not so. Rates of failure had all along been pretty close to level, implying fair and equal underwriting, not racism.
Read Wreckless Endangerment, for all the details.
30 Nov 11
1 edit
Originally posted by normbenignThe Boston Fed report has been subject to rigorous peer review and its findings of racial basis in the mortgage market pre-1992 have been found to be "extremely robust":
" But somehow, the media managed to blame the financial crash anti-discrimination policy in lending, which he pushed. Damned black people getting loans and buying houses - that's the problem!"
Sorry, that dead horse is out of the barn. The Boston Fed put out a highly unscientific study relating larger denials of mortgages to black applicants. Of cou r and equal underwriting, not racism.
Read Wreckless Endangerment, for all the details.
But they don’t point out that the Boston Fed’s study was later subject to a stringent peer-review process and was published in 1996 in the respected American Economic Review. Indeed, few research papers have been as closely scrutinized. The published results, which corrected some methodological errors, showed persuasively that there was in fact a bias in the mortgage markets. In 1998, another peer-reviewed paper—also ignored by the authors—analyzed the criticisms of the Boston Fed study, as well as other research on mortgage bias, and concluded that the study was fundamentally correct. “The bottom line is that the results related to race are extremely robust,” wrote the author.2
http://www.nybooks.com/articles/archives/2011/oct/27/did-fannie-cause-disaster/?pagination=false
- Joined
- 07 Mar 09
- Moves
- 28919
30 Nov 11
Originally posted by utherpendragonI thought that was Gingrich (the official historian.)
[b]You forgot the biggest defender of Fannie mae and freddie mac.
http://www.youtube.com/watch?v=bijtBkKQwY8
http://www.youtube.com/watch?v=2UZ9l_AxKjA&feature=related
http://www.youtube.com/watch?v=w-YtqVIKTTE&feature=related
http://www.youtube.com/watch?v=4fKpBPRKbvQ&feature=related
http://www.youtube.com/watch?v=LPSDnGMzIdo&feature=related[/b]
01 Dec 11
Originally posted by KunsooIt wasn't the anti-discrimination that's the issue.
Actually, it's a huge loss for progressive causes in Congress. Huge. But somehow, the media managed to blame the financial crash anti-discrimination policy in lending, which he pushed. Damned black people getting loans and buying houses - that's the problem!
The policies enacted in the 1990s and pushed by the likes of Barney Frank forced (or at least caused) banks to give enormous amounts of loans to people who could never have been realistically expected to pay them back absent a continuous surge in the housing market. Whether the applicants were white, black, brown, yellow, red or purple is beside the point. This specific issue really doesn't need to be about race.
Now, of course this was not the sole cause of the housing bubble. If you ask me who's to blame more - the subprime borrowers or the investment bankers who sliced, diced and re-packaged all these worthless loans into "AAA" securities and sold them back and forth to make enormous commissions, I say the latter. But Dodd and Frank and Clinton have to take some share of the blame for the mortgage crisis. Refusing to acknowledge that is being disingenuous.