Treasury Officials Warn Stock Market Could Crash by 1/3 This Week - Page 2 - New England Patriots Forums

Fogbuster · 09-29-2008, 01:09 AM

Jimmy Carter, Bill Clinton, Barney Frank, Chris Dodd, Franklin Raines, and yes, even Barack Hussein Obama all need to be hauled into court to answer charges of destroying the economy by calling for and writing legislation that FORCED AMERICA'S BANKS to give loans to people with poor credit ratings.

This needs to happen NOW to save America and the world's economy!!

***DarrylS*** · 09-29-2008, 05:03 AM

Here is an interesting study that may debunk some of your beliefs, stating that the CRA loans may not have been the cause, watching this from Europe on CNN may not give you the full flavor.. while there are foreclosures in the inner city, many of these are from investors, there are also foreclosures near the shore and in affluent communities.. this crisis has hit a lot of people very hard.. there are easy answers and there are the hard ones, to blame 3 or 4 people is quick and easy.. you have to look somewhat beyond.. particularly as there have been some very powerful Republicans in Charge.. Reagan(the orignal messiah).. Bush I and Bush II...

On the other hand, this is anecdotal, I know many people of all races who benefitted from these loans and have had the opportunity to buy homes.. the only people I know who have defaulted are the investors, who are overextended and got involved to make a quick buck.

http://www.traigerlaw.com/publicatio...udy_1-7-08.pdf

[

Quote:

QUOTE][Our study concludes that CRA Banks were substantially less likely than other lenders
to make the kinds of risky home purchase loans that helped fuel the foreclosure crisis.
Specifically, our analysis shows that:
(1) CRA Banks were significantly less likely than other lenders to make a high cost loan;
(2) The average APR on high cost loans originated by CRA Banks was appreciably lower
than the average APR on high cost loans originated by other lenders;
(3) CRA Banks were more than twice as likely as other lenders to retain originated loans in
their portfolio; and
(4) Foreclosure rates were lower in MSAs with greater concentrations of bank branches.
/QUOTE]

You can study the demographics also, as these prove interesting as well.. it does not all happen in the inner city..

Developments : Changing Demographics of the Foreclosure Crisis

Quote:

Not even affluent homeowners are safe from the foreclosure crisis. In Maryland, “counties with high incomes and pricey housing were among the hardest hit,” the Baltimore Sun found. “All but two of the 10 most affluent counties — those with median household incomes topping $70,000 — saw foreclosure cases rise by more than 50 percent,” the paper says. In these pricier neighborhoods, buyers had to stretch more to be able to afford homes, the paper explains. Plus, easy mortgage money at the beginning of the housing boom didn’t help the situation.

***reflexblue*** · 09-29-2008, 05:06 AM

Quote:

Originally Posted by Fogbuster

Jimmy Carter, Bill Clinton, Barney Frank, Chris Dodd, Franklin Raines, and yes, even Barack Hussein Obama all need to be hauled into court to answer charges of destroying the economy by calling for and writing legislation that FORCED AMERICA'S BANKS to give loans to people with poor credit ratings.

This needs to happen NOW to save America and the world's economy!!

You need major psychiatric intevention. Likee I need spell check.

***maverick4*** · 09-29-2008, 09:15 AM

Fog is a complete wacko. Somehow it comforts him to pin everything on another political party and absolve his beloved masters of any guilt. Even in a crisis like this the guy sees everything in a partisan way. He is physically unable to see things without a biased lens.

***patsfan13*** · 09-29-2008, 09:23 AM

Problem is Europe may have bigger banking problems than the US....

***maverick4*** · 09-29-2008, 09:28 AM

Another major event I see unfolding, after Super Depression finally hits America, is we won't like to see Europe and Russia to get too cozy. Within the next 5 years Russia and Europe may go to war or confrontation, with covert instigation on our part. We will also or either try to disrupt the European Union such that the Euro as a currency falls apart by playing Euro countries' beefs off of each other.

PatriotsReign · 09-29-2008, 10:06 AM

Quote:

Originally Posted by patsfan13

Problem is Europe may have bigger banking problems than the US....

Then shouldn't congress be adding another couple of billion to bail THEM out?

***patsfan13*** · 09-29-2008, 12:13 PM

Quote:

Originally Posted by PatriotsReign

Then shouldn't congress be adding another couple of billion to bail THEM out?

Not sure you'd have to Reid and Pelosi they are writing the current bill w Bush.

PatriotsReign · 09-29-2008, 12:16 PM

Quote:

Originally Posted by Fogbuster

Jimmy Carter, Bill Clinton, Barney Frank, Chris Dodd, Franklin Raines, and yes, even Barack Hussein Obama all need to be hauled into court to answer charges of destroying the economy by calling for and writing legislation that FORCED AMERICA'S BANKS to give loans to people with poor credit ratings.

This needs to happen NOW to save America and the world's economy!!

Grow up and use normal font like everyone else buster. Seriously, what is wrong with you? Are you 10 years old?

"My name is fogbuster and I'm gonna use big font cause I'm mad at people!"

Run DMC · 09-29-2008, 12:20 PM

This bill will pass even though 70%+ of americans don't want it. If you think you're living in a democracy, you're on some good dope.