Narkos
(919 posts)
Send PM |
Profile |
Ignore
|
Sat Sep-27-08 11:15 AM
Original message |
Alright, the latest attempt by the reich wingers to blame the dems |
kirby
(1000+ posts)
Send PM |
Profile |
Ignore
|
Sat Sep-27-08 11:20 AM
Response to Original message |
1. Ralph Nader last night on Bill Mahr... |
|
said that the people who borrowed as part of the Community Reinvestment Act had the highest rate of repayment than any other group!!! Try searching around for rate of repayment via CRA.
|
kirby
(1000+ posts)
Send PM |
Profile |
Ignore
|
Sat Sep-27-08 11:22 AM
Response to Reply #1 |
|
The CRA allowed people to use Fannie/Freddie INSTEAD of sub-prime lenders. My gut tells me that people are more likely to make their payments when their loan is 6% instead of 11%.
|
rateyes
(1000+ posts)
Send PM |
Profile |
Ignore
|
Sat Sep-27-08 11:20 AM
Response to Original message |
2. The problem wasn't with the loans. The problem was with |
|
the credit default swaps. Many people bet small amounts with potentially a huge payout that these loans would fail, and THEN they manipulated the market with speculation in the oil industry, etc. to cause inflation and loss of jobs to ensure that the loans would fail in order to collect on their bets.
It's as crooked as a barrel of fishhooks.
The Reich Wing can kiss my rosy red ass. They are stupid-ass fucks.
|
Narkos
(919 posts)
Send PM |
Profile |
Ignore
|
Sat Sep-27-08 11:45 AM
Response to Reply #2 |
4. Good point. All Fannie and Freddie |
|
was say, hey we'll buy some of these subprime mortgages. They're not the ones who created the credit default swaps and pushed the risk on ill-informed investors. This article is making a lot of headway on the wingnutosphere, and we should probably address it.
|
livelongandprosper
(417 posts)
Send PM |
Profile |
Ignore
|
Sat Sep-27-08 11:57 AM
Response to Original message |
Narkos
(919 posts)
Send PM |
Profile |
Ignore
|
Sat Sep-27-08 12:21 PM
Response to Reply #5 |
6. Nice! Link's going straight to my libertarian friend |
|
who thinks Bill Clinton is the source of all evil
|
DU
AdBot (1000+ posts) |
Wed May 08th 2024, 05:07 PM
Response to Original message |