Housing Mess Started With Bill Clinton In 1999

Blaming minorities for the housing crises is akin to blaming the Jews for the Holocaust. And that's all I have to say about that.

Blaming minorities for the housing crises is akin to blaming the Jews for the Holocaust. And that's all I have to say about that.
No one was blaming them it seems that you take the easy reponse when you do not have a come back to answer a question. If I went back to allot of our threads a bunch of them end with your non response.

This is a very good thread, however, was it really needed? No one will admit when Clinton did anything wrong, he's like a cult hero or something.
Let's be clear, while the lending institutions did give out money a little too willingly, there really is no one to blame other than the people themselves. We all like to point blame to others, and make excuses, but the general public asked for money and AGREED IN WRITING to pay it back, they are the ones that should be blamed. Hell, I want a Corvette, BADLY! But you don't see me with one do you???? Of course not, cause I can't afford it. I have excellent credit, I can have it right now if I want it, but I know that will kill me financially. Blame the institutions all you want, but there was a time when a man's word meant something, now it means shit.

I never said Bush is to blame, I just think it's funny that some people keep tossing it back on Clinton. We've been on W's watch for 8 years now, and if you listen to some people 9/11 was Clinton's fault, the current economy crisis was his fault... I mean c'mon, it's just ridiculous.

No, it's really not ridiculous..

No, it's really not ridiculous..

see my above post about how he became "a cult hero". You can't say anything bad about Clinton, so what's the point?

Second, the collapse of the housing market cannot be attributed to minorities becoming home owners. The CRA was designed to benefit low income areas, which includes inner cities and rural areas (predominantly white areas). Moreover, banks were making money hand over fist on those sub-prime loans. As long as home prices kept skyrocketing, the banks were reaping huge rewards and not incurring many risks. The CEOs running those lending institutions knew the market could collapse, but they were far more concerned with making great profits on a quarterly basis.

I would respectfully disagree. Sort of. Minorities owning property has nothing to do with it. Broke people getting loans does. These loans were first decreed by the gov't, insured by the gov't and then banks were sued for not giving them. There is a reason that homes prices tracked closely with inflation for decades. Banks didn't like giving out bad loans...they lost money on them. Once it became polically fashionable (read: buying votes) politicians started talking about "affordable housing" which means broke people buying houses. But banks said no. So the gov't went ahead and passed laws requiring "diversified" portfolios and then out of the other side of their mouths insured the loans so banks could afford to implement this new program. Magically home prices sky rocketed as the demand for homes exploded.

So the gov't makes banks give the loans and then creates a way for the banks to make profits on them and we want to blame the banks when they give out the loans? Sure there are greedy people but last time I checked companies are supposed to make money. When they get put out of business for not following laws they can't make money. When the gov't gives them an easy way to make money and they don't take it then they get fired.

On top of all this the two companies that insured, or bought, these loans were cooking their books to fool as many politicans as possible into thinking everything was great. When some did say that the situation was getting bad many others screamed back with uninformed and intellectually devoid arguments. Unfortunately the people who had an iota of what was actually happening didn't have the guts or the political capital to force some actual oversite.

This whole situation is a damn disaster but the politcs being played with it make me laugh. BO wants to blame this on lack of oversite by Repubs? Are you freaking kidding me? Well no f*cking sh*t there was not enough oversite! It's just not W's fault. In any way. Whatsoever. Let's go back in time an when Clinton and the Repubs wanted to create an oversite group and the Dems blithely dismissed them maybe we can kneecap those dummies so they can't get a vote because they were the ones who stopped it. Not Bush or McCain. The Dems. FACT. I blame the Repubs for not stopping this crap because they were too gutless to force a change. But I blame the basic principles of the Dems for causing it and then letting politics stop them from seeing the reality of the situation.

Banks said no...lol. I must say FRPLG, this is by far the poorest post by you I have ever seen. If you're going to make grandiose claims please cite your references. Specific bills and laws, any article on lobby effort against "affordable housing" by banks from reputable sources (sorry, blogs don't count) will do. Happy hunting!

Banks said no...lol. I must say FRPLG, this is by far the poorest post by you I have ever seen. If you're going to make grandiose claims please cite your references. Specific bills and laws, any article on lobby effort against "affordable housing" by banks from reputable sources (sorry, blogs don't count) will do. Happy hunting!

Baaaaaa!

Baaaaaa!


That's what I thought.

-saden1 a.k.a. Rain Man II
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