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Originally Posted by tomder55

http://en.wikipedia.org/wiki/Section_8_(housing)

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Hi Tom what is the point of a link that leads nowhere?

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Originally Posted by tomder55

and your left wing Democrat apologist argument sounds more absurd . Subprime mortgages were imposed on Fannie Mae, Freddie Mac and all the other mortgage lenders in order to create more “fairness” and allow everyone to have “the right” to own a home whether they could actually afford to do so or not. Fannie Mae and Freddie Mac were “Government Sponsored Enterprises,”(GSEs) .Fannie and Freddie began bundling together thousands of riskier and ever riskier mortgages into giant mortgage backed securities to advance Democrat policies, large investment houses continued to gobble them up. After all, this was an arm of the United States Government .... and the United States Government ALWAYS pays its debts.

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If this were so how come the US government didn't have all the liability, but no, these securities were marketted around the world as prime investments so that the financial crisis experienced by the US became global when their bubble burst. Tom, even my local city council as caught in it losing millions, why on Earth would they be investing in the US mortgage market if a bunch of shonks hadn't sold them a bill of goods with an AAA rating.
Did the US government pay that debt?

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Originally Posted by paraclete

Hi Tom what is the point of a link that leads nowhere?

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Ask Wikipedia.

Section 8 (housing)

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Originally Posted by speechlesstx

Ask Wikipedia.

Section 8 (housing)

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Rental assistance is not public housing

Oh you want those old failed projects of the 1960s .I get it .

Just curious where did all that money everybody lost go?

I know when I lost money on the deal. When the government decided to bail out their favorite banks.

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Originally Posted by talaniman

Just curious where did all that money everybody lost go?

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It went into the pockets of the shonks

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Originally Posted by tomder55

I know when I lost money on the deal. When the government decided to bail out their favorite banks.

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My bail out would have been at 15%, compounded daily, but then Europe and the rest of the world would have fallen off the earth. But then jailing CEO's, and bankers along with the ratings agencies would have been a national holiday.

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Originally Posted by talaniman

My bail out would have been at 15%, compounded daily, but then Europe and the rest of the world would have fallen off the earth. But then jailing CEO's, and bankers along with the ratings agencies would have been a national holiday.

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If there was malfeasance or fraud then there should be legal action taken . I'm not the one who thinks the banks are too big to fail and need protection.

We could at least search them thoroughly first make sure we get the loot they stole back before we jail 'em.

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Originally Posted by tomder55

if there was malfeasance or fraud then there should be legal action taken . I'm not the one who thinks the banks are too big to fail and need protection.

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What planet do you live on? Prosecution only happens when they can compile a clear case and when a deal isn't done, some civil class action has been successful in recovering damages so there must have been evidence of "malfeasance or fraud", but did they contravene the criminal code, it all passed through too many hands

I am speaking the way it should be not the system the statist have devised .

I don't accept that Tom, I think you were expressing the niaive view that justice will be done

Believe what you will

The money game is rigged and manipulated by capitalists, for capitalists.

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Originally Posted by talaniman

The money game is rigged and manipulated by capitalists, for capitalists.

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Well obviously they are not going to do it for socialists