Ask Me Help Desk - Class warfare the right wing started.

You insist on Ignoring the facts...

THey have a Court Docket with Obamas name on it sueing for the right of people with poor credit to get loans they aren't qualified to get... and it went downhill from there.

Liberal Bloggers can't change that reality...

And the fact the Barney Frank and Chris Dodd are in this up to their ears... Obama was the major recipient of money from the major crooks, and everything about this has major Democrat involvement.

The democrats are always trying to pretend they are something they never were...

Like if they had their way no civil rights laws or anything of the sort would have ever passed... They can create as many blogs as they want, history proves otherwise.

Just like Global warming hoax created by Al Gore as a get rich quick scheme. He could count on people loyal to the party doing what they were told.

Tal you keep blaming the banks while providing proof that the government tried manipulating the market to make it accessible to people who were not qualified to receive a mortgage under the old well established formula.

This speaks volumes...

Quote:

Originally Posted by tomder55

tal you keep blaming the banks while providing proof that the government tried manipulating the market to make it accessible to people who were not qualified to receive a mortgage under the old well established formula.

The government was investing in home ownership not in steering first time buyers, and those looking to leverage their equity into scams the banks profited on. That was the heart of the housing bubble bursting. You only have part of this scam, first time buyers, but the fact is that many of the people have home loans they can afford, but the equity was leveraged out by the deceptive bank practices, and the scandal of collusion between builders, and appraisers.

Yes I blame the banks, for turning a good idea into a financial nightmare. And I am not the only one, because the states attorney's in 50 states agree with me.

Bank of America sued over mortgage abuses | Capitol Hill Blue

Quote:

The lawsuits could complicate Bank of America’s efforts to quickly resolve inquiries into its mortgage foreclosure practices. The probes include a 50-state investigation that is also looking at JPMorgan Chase & Co, Ally Financial and other major mortgage servicers.

Last month Bank of America Chief Executive Brian Moynihan said a quick settlement of the 50-state probe would be the best solution for all involved.

To put all the blame on government, and gullible buyers is to miss a lot of criminal activities that at the time was unknown. You are still ignoring those that could have afforded their mortgage if it was done in a fair way, and not in greed. The banks knew full well what they were doing, and it was illegal, even with government backing and deregulations. They clearly took full advantage of secretly rigging the game Tom, to extract money from the system. CRIMINAL!

I don't deal in spin, or perception, I deal in facts.

If there is criminal activity then where are the indictments ? The AGs are looking for a payout to the states and a bee-line to the Governor's mansions.

If there was criminal activity there should be indictments . I find it curious that the Obots demonize Wall Street and yet Holder hasn't charged any of them .

Perhaps they know if the bank execs go down then Barney Frank and Chris Dodd would go down with them. Perhaps they know that Franklin Raines and Penny Pritzker and Jim Johnson and Jamie Gorelick would all be frog marched if the truth was revealed in a court room.

Heck ,even very liberal Village Voice had the integrity to detail Andrew Cuomo's strong arm tactics while he directed HUD .

The rogues gallery of Dems wearing horizontal pinstripes would destroy the party. Perhaps even the details of how the President got a sweet heart deal for his Chi-town house would be revealed to the public finally .

I don't blame the buyers . They should never ' been offered the mortgages in the 1st place ;and I don't give Bush a free pass for the policy either . He also thought it a good idea for people who can't afford to pay for homes to own them. But at least he and McCain introduced legislation to try to reform the system... who blocked it ? Dodd and Frank.

Quote:

if there is criminal activity then where are the indictments ? The AGs are looking for a payout to the states and a bee-line to the Governor's mansions.

Ya know Tom, that's exactly what the New York AG is asking.

He doesn't want a settlement, he wants a deeper look.

NY AG Investigating Big Banks Over Packaging Of Mortgage Loans

NY AG right to balk at bank deal

Why isn't the Feds doing it ? Why didn't Cuomo do it when he was AG (no need to answer... I already explained his role in this ) .

These law suits are more an attempt to pad the state coffers than putting bad guys away.
Many times these firms will pay a fine or settlement and go on their merry way... the payment being part of a business expense.
What the AGs aren't doing is looking for criminal behavior . The people allegedly screwed by the financial institutions won't see a dime.

And to further make a mockery of this is that their beef with the banks isn't the activity leading up to the crisis . It's how they have handled foreclosures.
Why ? Because the banks were playing under the rules that the government established before the crisis .
Again... the OWS(aka the Bowel Movement ) people are protesting the wrong place. They should all converge on Washington instead of stinking up lower Manhattan. (and those morons who decided to go after a public museum like the Air &Space Museum have no idea what their beef is about ) .

Quote:

Originally Posted by talaniman

To put all the blame on government, and gullible buyers is to miss a lot of criminal activities that at the time was unknown. You are still ignoring those that could have afforded their mortgage if it was done in a fair way, and not in greed. The banks knew full well what they were doing, and it was illegal, even with government backing and deregulations. They clearly took full advantage of secretly rigging the game Tom, to extract money from the system. CRIMINAL!

I don't deal in spin, or perception, I deal in facts.

Maybe the banks were following a cue from Barney Frank. He defended it to the end. Even getting his lover a position in Fannie May and forcing them to do business so his lover could make money. Even as far back as 2003.

Free Frank Warner: Barney Frank opposed regulating Fannie Mae and Freddie Mac in 2003, but no one reminds him

Lawmaker Accused of Fannie Mae Conflict of Interest - Politics | Republican Party | Democratic Party | Political Spectrum - FOXNews.com

Michelle Malkin Barney Frank's Friends with Benefits; Update: New Fannie/Freddie lavish comp figures

Quote:

Originally Posted by tomder55

Again ... the OWS(aka the Bowel Movement ) people are protesting the wrong place. They should all converge on Washington instead of stinking up lower Manhattan. (and those morons who decided to go after a public museum like the Air &Space Museum have no idea what their beef is about ) .

The Bowel Movement, perfect.

Raj Rajaratnam got 11 years Think that will sate the pitch fork crowd ?