ALL HAIL PRESIDENT TRUMP
You are ignoring the foundation of the housing collapse: government backed garbage mortgages given to people who cannot afford them, on the gamble that the house skyrockets in price and the equity could be leveraged to prevent bankruptcy.
If these risky loans weren't government backed, the banks wouldn't give them out to people who cannot afford them. The deregulation COMBINED with risky, government backed loans led to the housing collapse. Deregulation itself didnt cause the collapse. Clinton forced these loans on banks with sticks & carrots. Reno and fake racist lawsuits being the biggest stick. If there was no garbage government backed loans, there would have been no housing collapse. On the other hand, no deregulation and the housing collapse wouldn't have been nearly as bad. And you clearly haven't went back and read all my posts, your responses indicate you are skimming at best. Last edited by Khoranth on Nov 23, 2018, 8:03:25 AM
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" Ok I think I'm communicating now with you, though I'm still grasping at straws. When you say government backed loans, you mean GSEs like Freddie Mac and Fannie Mae (quasi-government entities knowns as GSE=government-sponsored-enterprises)? And that when these super complicated low risk (false) derivative financial instruments were sold to GSEs, it was an unwritten rule that the government would bail them out? Hence low risk, high yield? Is this where you are going? I mean, 'government backed' loans to me almost sounds like the government takes on all the risk, and pays for it... But from wikipedia again (argh) " | |
" ![]() This guy's a new account, and posts on this thread almost exclusively. I would not be at all surprised to see another account's hand stuck up his backside. =^[.]^= =^[.]^= basic (happy/amused) cheetahmoticon: Whiskers/eye/tear-streak/nose/tear-streak/eye/
whiskers =@[.]@= boggled / =>[.]<= annoyed or angry / ='[.]'= concerned / =0[.]o= confuzzled / =-[.]-= sad or sleepy / =*[.]*= dazzled / =^[.]~= wink / =~[.]^= naughty wink / =9[.]9= rolleyes #FourYearLie |
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I'm talking about sub prime loans in general, not exclusively, Freddie Fanny ect
If I'm wrong, then explain how the housing collapse would have been possible if no subprime loans were being given out. And there is no way to scientifically analyze just how devastating it was for Clinton to have Reno making up fake racist lawsuits. No business wants the president telling the country they are racist. This clearly impacted how many garbage loans were given out Last edited by Khoranth on Nov 23, 2018, 8:29:24 AM
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" Yeah, agreed. The way he is baiting with Trump bashing, the same way a 20 something extremist leftist would is making it pretty obvious he is here to troll. | |
Yay!
Ganged up on with personal attacks due to something as trivial as politics! Yay! I don't think calling people names has anything to do with anything, but if you think that makes your argument stronger somehow, or you've lost all the points in the debate, go right ahead. I reserve my ire towards the orange blob. You might have noticed I dislike him quite a bit, but I have little issue with Trumpets/Trumpettes. I'm sure they have a special place in hell reserved for them for voting mr. orange in, and I believe that place is called America in 2018. There is only reason I make fun of him, and, possibly, actually hate him. From the other side of the globe, he is jeopardising almost single-handedly my future offspring, likely for generations to come, due to his reckless short term wallet size, being in the pockets of Big Oil. It's climate change, simple as that. Sure I have gripes with what he is doing to places like Iran, and Yemen and what he is not doing to Russia and Saudi-Arabia, but that's more politics, less action, that affects me. Now that I needlessly had to explain myself personally in this matter, I expect absolutely nothing from you. Nothing. You have high expectations, boys and gals. " I think you are basing this off on the fact that sub-prime mortgages were only possible due to Clinton somehow, and that nowhere else in the world they traded in them. This is untrue of course. It's the scale with which they were traded in america, compounded with 42 other deregulatory inadequacies, all preventable, that made the financial markets collapse so dramatically, and affect the rest of the world. It's so nice that I started this whole thing by stating correlation does not equal causality, and that I had no desire to delve (xd) any deeper into occult mysteries of economics soft social science, yet here I am typing this crap. How I hate my life right now. | |
Thought I'd look into parallels between the Sun King and Trump, but turns out style wise isn't a great comparison.
" article ![]() Would Trump be even greater in your eyes if he did have a more proudly American style? ![]() | |
You cannot ignore how devastating it was for Clinton to send Reno out to make up fake racist lawsuits. That influenced how banks gave out garbage subprime loans.
No business wants the president telling the country they are racist, it was a big deal. The banks gave up resisting Clinton and went crazy giving out garbage subprime loans The bottom line is: subprime loans are risky garbage. The government shouldn't back them period. Fact:No govt backed subprime loans, no housing collapse. Last edited by Khoranth on Nov 23, 2018, 8:59:32 AM
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" Rojimboo, if you are still wondering what Koranth is hinting at and is dispairing at you not commenting on it: For the 6th or 7th time now Koranth has suggested that the main reason (the only one, as he suggested once, that, if prevented, would have made the subprime crisis impossible.) for the subprime crisis is that the banks gave out loans to black people, and that those black people did not deserve to get those loans, predictably defaulted on those loans and thus took the loan-deserving white america down with them. Of course, Khoranth did not write exactly that. Instead he wrote that pressure applied with fake racist lawsuits by Clinton basically forced banks to give out loans that they would not have had before. However, this implies that banks were forced to give loans to black people to demonstrate that they were not acting racist. It also implies that those people would not have gotten a loan before, meaning: they were black / non-white. It also implies that this inevitably led to the subprime crisis in which all suffered, implying that Clinton's help for the undeserving non-whites made all, read: the whites suffer. But only something happens after another thing, it does not mean that the thing happening first is causal for the thing happening second. Khoranth failed to bring any proof for his argument. I believe it is pretty ridiculous. a.) Companies spend millions on public relations every damn day. did Koranth look out of the window recently, or witness advertising somewhere on the internet? If the main goal of the banks was to display that they are not racist, they would have done so in the way they display themselves for every other reason: on billboards or through other means of advertising. b.) As for legal action: Quite possibly, there were banks that, instead of making the effort of reworking their standards in order to be able to prove that their standards and lending was not racist, simply gave more loans, because, well, there was money to be made. Sustainable business would have been to rework the standards. c.) Koranth's argument that the fear of being accused racist lead to hundreds of billions of dollars being invested is amazing. Because, you know, it ignores the fact that is was a fucking great business to throw a bunch of subprime loans in a pot, stirr a bit and sell the stew, after having paid the critic to praise the stew. Great business for banks, rating agencies, investment funds and people who simply wanted to save for their retirement. EARNING MONEY by knowingly selling worthless loans motivated banks, not fear of prosecution. d.) Also, as you stated, by the time the crisis climaxed, the reps had been in control of the whole government for a long time. I am not exactly sure how the republicans not preventing the last and worst, lets say 6 years, frees them of any wrongdoing and making Clinton the big, bad guy in all this. Maybe Khorant will enlighten us? f.) and I am not even starting to argue that the banks' previous behaviour was in all likelyhood not correct. While it is very unlikely that in each bank there was a circle of white-haired racist pricks that tried to come up with new ways to ensure white power all the time, prejudices do exist, and black people are likely to be treated worse than white ones, starting with algorithms that are not racist per se, how could they, but they have been fed by people with (unconscious) bias. Maybe Khoranth will elaborate his "fake racist lawsuits"? Repeating over and over again and emphasizing one argument - "fake racist lawsuits" - while ignoring or downplaying the criminal behaviour or banks / rating agencies is in my opinion ignorant. Khoranth is, in all likelyhood, not a victim of suppression and a generally unfair world. He should not pose as one. He is probably not a racist either. He should refrain from using their propaganda. Also, when this is over, I would like to read why Ted Cruz is such a moral guy. :-) (It is not lost on me that Khoranth's conclusion was "Fact:No govt backed subprime loans, no housing collapse.", and that this conclusion did not include Clinton or "fake racist lawsuits". The steps he took to reach that conclusion, and the apparrant weighing of the causes really bug me, though) (\__/) This is Bunny. Copy and (='.'=) paste Bunny to help him (")_(") gain world Domination. Last edited by Ersatzdrummel on Nov 23, 2018, 10:44:19 AM
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Here's a summary of this thread over the last few pages: Trying to have a fact based discussion with someone that refuses to accept facts and refuses to give the sources of their own outlandish assertions is not going to go anywhere.
Over 430 threads discussing labyrinth problems with over 1040 posters in support (thread # 1702621) Thank you all! GGG will implement a different method for ascension in PoE2. Retired!
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