Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe Community Center
Current Events
The news media is bought!
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="The Other Side" data-source="post: 2096896" data-attributes="member: 17969"><p>Your position is laughable at best. </p><p></p><p>You have no idea what you are talking about other than to try and make an excuse for what happened to cause the housing bubble. IN the video, you hear BUSH clearly state that he asked fannie mae and freddie mac set aside billions of dollars to COVER the projected 5.5 million new homes to be sold to low income minority buyers and those funds ended up being a shortfall in the tens of billions of dollars leaving the government to BAIL THEM OUT.</p><p></p><p>He instructed in clear language, the banks and mortgage writers to create "NEW INSTRUMENTS" for home loans.</p><p></p><p>Its unfortunate that you dont understand washington speak, but BUSH's Home Ownership Society directly caused the housing bubble to grow and then to blow up in his face.</p><p></p><p>Eliminating the need for proof of income, good credit or even a ligitimate job was a recipe for disaster and it proved to be such. New loans, like the ARMS, Interest only and equity line loans were ticking time bombs that are still blowing up even today.</p><p></p><p>Your desperation to point to someone else other than the BUSH administration is evident from your extreme right wing thinking. Its better to believe that BUSH had nothing to do with anything that caused this country to dive into the biggest recession since the great depression than to accept that your political party and its policies destroyed a nation.</p><p></p><p>Those white house memos from the BUSH administration TELL YOU in clear language everything you need to know about the housing bubble and the cause, you just have to accept it.</p><p></p><p></p><p></p><p>TOS.</p></blockquote><p></p>
[QUOTE="The Other Side, post: 2096896, member: 17969"] Your position is laughable at best. You have no idea what you are talking about other than to try and make an excuse for what happened to cause the housing bubble. IN the video, you hear BUSH clearly state that he asked fannie mae and freddie mac set aside billions of dollars to COVER the projected 5.5 million new homes to be sold to low income minority buyers and those funds ended up being a shortfall in the tens of billions of dollars leaving the government to BAIL THEM OUT. He instructed in clear language, the banks and mortgage writers to create "NEW INSTRUMENTS" for home loans. Its unfortunate that you dont understand washington speak, but BUSH's Home Ownership Society directly caused the housing bubble to grow and then to blow up in his face. Eliminating the need for proof of income, good credit or even a ligitimate job was a recipe for disaster and it proved to be such. New loans, like the ARMS, Interest only and equity line loans were ticking time bombs that are still blowing up even today. Your desperation to point to someone else other than the BUSH administration is evident from your extreme right wing thinking. Its better to believe that BUSH had nothing to do with anything that caused this country to dive into the biggest recession since the great depression than to accept that your political party and its policies destroyed a nation. Those white house memos from the BUSH administration TELL YOU in clear language everything you need to know about the housing bubble and the cause, you just have to accept it. TOS. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe Community Center
Current Events
The news media is bought!
Top