1. #71
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 79,843
    Betpoints: 12

    Quote Originally Posted by EBSB52 View Post
    Predatory lending caused unqualified people to get houses, keeping the interest too low too long is what caused the mortgage mess. Think about it, if there were some houses out there foreclosed due to unqualified buyers, prices would fall a bit due to excessive stock of houses on the market, but the doubling of house prices is really the killer because a lot of people ran off with 100's of thousands of dollars in the meantime.

    There was a lot of corruption that will go unpunished, but the key to the mess and to the extent it was a mess was based upon lowering interest rates so sellers could qualify buyers with a higher principal amount and have the same payment.

    Even with honest qualifying of buyers, if the interest dropped as it did, there would still be a mess due to gross and immediate over-valuation of houses. But we all want to find a villian, so that has to be the lenders. In part, but the idiots, Greenspan and Bush allowing, dropping interest are those villians; look no further.
    The fault is always with the bank regardless of the interest rate. They are the ones signing the mortgage, not Greenspan or Congress. BkofAma is the best bank now from this mess because they only gave mortgages to well qualified people.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 09/22/2022


  2. #72
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by pavyracer View Post
    The fault is always with the bank regardless of the interest rate. They are the ones signing the mortgage, not Greenspan or Congress. BkofAma is the best bank now from this mess because they only gave mortgages to well qualified people.

    Sure, but the interest rate staying way too low was the catylist, w/o that none of it would have been possible. Lending to unqualified people can be rectified by foreclosure, lending to qualified people, but selling the house at unrealistically high prices is rectified by foreclosure and the lenders not recovering their funds. There were other contributing factors like interest onlies, adjustable rate, etc, but those just accellerated the inevitable.

    If the banks lent to qualified people using conventional loans, but with inflated values, that locks people into houses for 10-20 years before they can break even, life happens, people lose jobs and then can't come up with the 50k to get out, so tehy foreclose and teh bank recovers 50k less than its value. A lot of contributing factors, but the low interest rates fascilitated gross overinflation, then the subsequent systemic breakdown.

  3. #73
    SlappyWhite
    SlappyWhite's Avatar Become A Pro!
    Join Date: 07-22-08
    Posts: 443

    Quote Originally Posted by robmpink View Post
    The politically correct name is african american,not black.
    don't you mean halfrican american?

  4. #74
    robmpink
    Update your status
    robmpink's Avatar Become A Pro!
    Join Date: 01-09-07
    Posts: 13,205
    Betpoints: 42

    Quote Originally Posted by SlappyWhite View Post
    don't you mean halfrican american?
    In this case you are correct.

  5. #75
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by JBC77 View Post
    Predatory lending is part of the problem. Fanny and Freddy, under Bill Clinton were mandated to give loans to minorities. The democrats let it go unregulated because minorities are their base. Again, it has nothing to do with the Bush administration. The current economic crisis is all democrat. When they brought the CEO of AIG in front of congress and put him to shame, did you ever ask yourself why the CEO's of Fanny and Freddy weren't brought in an embrassed in front of the whole country?

    You can lay the other 1/4 of blame on idiots who took variable rate loans.

    The ecomony is the way it is because of the dems. I hope Obama is elected. Four years from now maybe your getting tired of paying the bills for people who sit on their a$$ all day in the ghetto.

    Poor them.


    Well, I answered several of JBC77's posts in this thread and he didn't respond, so I PM'd him politely and told him that I answered them in case he just hadn't seen them. Now I see he's still ignoring them, he must agree with me


    OK, accepted.

  6. #76
    bigugly
    bigugly's Avatar Become A Pro!
    Join Date: 01-04-08
    Posts: 1,329

    Quote Originally Posted by robmpink View Post
    The politically correct name is african american,not black.
    That's not necessarily so.

    Anyway, voting for someone just because they are black is just as racist as not voting for someone because they are black.

    I think Obama is a questionable candidate...I hope he turns out OK

  7. #77
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by bigugly View Post
    That's not necessarily so.

    Anyway, voting for someone just because they are black is just as racist as not voting for someone because they are black.

    I think Obama is a questionable candidate...I hope he turns out OK
    >>>>>>>>>>>>Anyway, voting for someone just because they are black is just as racist as not voting for someone because they are black.

    Not really because blacks are a protected class, just the way it's done here by the mostly while SCOTUS justices.


    >>>>>>>>>>>>>>>>>>I think Obama is a questionable candidate...I hope he turns out OK


    But no real explanation as to why???????

  8. #78
    apk2k6
    apk2k6's Avatar Become A Pro!
    Join Date: 06-09-08
    Posts: 494

    There are a lot of ignorant people in the world, damn. Everyone thinks that all black people live in the ghetto and live off of government money. There are TONS of redneck white people, who are uneducated and racist as hell. There are also TONS of wealthy white people who think everything should be handed to them and that they're better than anyone else. They freak out if their new BMW gets a scratch.

    It's time for a reality check, we need more diversity leading our nation, and in our top companies. White people are not superior by any means, and do not face the criticism/problems in everyday life like other races do.

    And yes, I'm white. 100% born in Florida. I'm just tired of our ignorant country living in the 18th century. It's time to progress.

  9. #79
    wtf
    wtf's Avatar Become A Pro!
    Join Date: 08-22-08
    Posts: 12,983
    Betpoints: 60

    yea your right, look at how much africa is progressed! sorry , dont want to be that "progessed" , you been listening to your lefty professors too much

  10. #80
    apk2k6
    apk2k6's Avatar Become A Pro!
    Join Date: 06-09-08
    Posts: 494

    Actually I have my own opinions, just because they're not the same as yours I must be taking advice from others? I can't wait until Obama is president, I'm sure you Repubs. will want to die with a black president huh? Oh no, what will you do??

    Grow up. And by reading your posts I can tell that you're not too smart.

  11. #81
    wtf
    wtf's Avatar Become A Pro!
    Join Date: 08-22-08
    Posts: 12,983
    Betpoints: 60

    yea i wish i was smart like you, parroting what my teacher told me to think. nobody even knows what "progess" means? what does that mean exactly?

    you must be intelligent, you are calling me stupid. a sheer sign of high intellect.

    next time call me a poo poo head.

  12. #82
    Kingctb27
    Kingctb27's Avatar Become A Pro!
    Join Date: 07-16-08
    Posts: 2,258

    Why are you people so happy about rich people getting taxed? All it will do is create more fugging blacks who want a free lunch. Good god you people just don't get it. Have some ambition.

  13. #83
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by wtf View Post
    yea your right, look at how much africa is progressed! sorry , dont want to be that "progessed" , you been listening to your lefty professors too much

    We are the most heterogeneous nation on earth I would conjecture, so how does Africa add to this conversation? Africa, as I know it, is 80%+ black, so they are virtually homogenous. Thsi point was that we are diverse, we need diversity in leadership. And aside from that, let's look at the candidates for their merits and the parties for their accomplishments and then make the call. Can you su[pport the neo-con ticket based on their accomplishments? If so, why?

  14. #84
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by apk2k6 View Post
    Actually I have my own opinions, just because they're not the same as yours I must be taking advice from others? I can't wait until Obama is president, I'm sure you Repubs. will want to die with a black president huh? Oh no, what will you do??

    Grow up. And by reading your posts I can tell that you're not too smart.

    If the R's can't stand Obama, I suggest this: http://www.youtube.com/watch?v=GGDOMNiRuDs

  15. #85
    apk2k6
    apk2k6's Avatar Become A Pro!
    Join Date: 06-09-08
    Posts: 494

    Money going back into the lower classes will also help the wealthy because the lower classes will have more money to buy more.

    Also, isn't it only a 3% increase over the current tax rate??

    People act like welfare doesn't exist now and if Obama is elected it will be created and people will get free meals, OMG!!

    And to wtf, progress means we need to stop living in our 19th century bible-thumping, racist, civil war, nation. Progress means we need to all come together and move forward as a nation, and we need to stress education. A lot of Americans are dumb as hell, take Palin and Bush for example, and they're in the upper class!!

  16. #86
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by Kingctb27 View Post
    Why are you people so happy about rich people getting taxed? All it will do is create more fugging blacks who want a free lunch. Good god you people just don't get it. Have some ambition.
    The really stupid thing here is that even the rich do better when the poor get handouts. Corpoarte welfare helps some rich folks, but many suffer. Small business owners thinking they're brilliant for pushing for typical trickle-down economics usually end up ****ing themselves with their beliefs. Most small business owners deal with the public directly or indirectly so they need Joe public to do well and historically Joe public has done far better under Dems than R's.

  17. #87
    wtf
    wtf's Avatar Become A Pro!
    Join Date: 08-22-08
    Posts: 12,983
    Betpoints: 60

    africa factors into this issue because that obama-drone implied that having a black pres shows we are progressing as a nation, as they are a superiour race that can lead the nation to new heights.

    well you will get your wish tomorrow for sure.

    i just think obama was at the right place at the right time, like jimmy carter was.

  18. #88
    apk2k6
    apk2k6's Avatar Become A Pro!
    Join Date: 06-09-08
    Posts: 494

    Hahaha when did I imply that any race was the "superior race". If anything, I'm saying there are no superior races!

    I said that a lot of the wealthy white folks think they are greater than everyone else.

    Reading > you.

    Go back to my comment about more people needing an education. But us voting for Obama "think we're so smart with our education, logic, and facts" right?

  19. #89
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by apk2k6 View Post
    Money going back into the lower classes will also help the wealthy because the lower classes will have more money to buy more.

    Also, isn't it only a 3% increase over the current tax rate??

    People act like welfare doesn't exist now and if Obama is elected it will be created and people will get free meals, OMG!!

    And to wtf, progress means we need to stop living in our 19th century bible-thumping, racist, civil war, nation. Progress means we need to all come together and move forward as a nation, and we need to stress education. A lot of Americans are dumb as hell, take Palin and Bush for example, and they're in the upper class!!


    When these neo-cons say they don't want Obama for higher taxes, etc... What they mean is that they have bought into this classist shit this country is about. America is classist and we are taught to embrace those in higher classes and be disgusted with those in lower classes.

    Over the last 28 years when taxes are lowewred the debt surges and the economy sags, it led to 2 recessions. But when taxes are raised, esp on the rich, social programs stimulated, the economy jumps and we enjoyed our greatest prosperity under Clinton with that strategy. What is drawn up and what works in application are different in this case.

  20. #90
    reno cool
    the meaning of harm
    reno cool's Avatar Become A Pro!
    Join Date: 07-02-08
    Posts: 3,567

    How did Clinton stimulate social programs?

  21. #91
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by reno cool View Post
    How did Clinton stimulate social programs?
    He encouraged Congress to write and then he signed social program funding. He signed tax breaks for education spending. Ergonomics Bill, which dumbshit slashed as his 1st act.

  22. #92
    HAPPY BOY
    HAPPY BOY's Avatar SBR PRO
    Join Date: 08-10-05
    Posts: 7,092
    Betpoints: 424

    thank god we still have congress

  23. #93
    BadNina
    I did troubles!!
    BadNina's Avatar Become A Pro!
    Join Date: 11-27-07
    Posts: 10,491
    Betpoints: 4685

    Quote Originally Posted by apk2k6 View Post

    Also, isn't it only a 3% increase over the current tax rate??
    Boston Tea Party was held over a 3% tax increase.

  24. #94
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 79,843
    Betpoints: 12

    Quote Originally Posted by BadNina View Post
    Boston Tea Party was held over a 3% tax increase.
    We could have still been part of the British Empire if it wasn't for that stupid tax increase.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 09/22/2022


  25. #95
    Dbldown11
    Dbldown11's Avatar Become A Pro!
    Join Date: 08-17-06
    Posts: 3,605

    Quote Originally Posted by wtf View Post
    yea your right, look at how much africa is progressed! sorry , dont want to be that "progessed" , you been listening to your lefty professors too much
    wow......people are honestly this dumb and ignorant???

    I just wish you had the least bit of intelligence and paid attention to anything your teachers ever told you, you moron

  26. #96
    SlappyWhite
    SlappyWhite's Avatar Become A Pro!
    Join Date: 07-22-08
    Posts: 443

    How does Obama become a black president? He is half white, is it that the black overrides the white?

  27. #97
    BadNina
    I did troubles!!
    BadNina's Avatar Become A Pro!
    Join Date: 11-27-07
    Posts: 10,491
    Betpoints: 4685

    Quote Originally Posted by pavyracer View Post
    We could have still been part of the British Empire if it wasn't for that stupid tax increase.
    I know!!! I could have had tea with the Queen.

  28. #98
    Dbldown11
    Dbldown11's Avatar Become A Pro!
    Join Date: 08-17-06
    Posts: 3,605

    ok slappywhite be difficult....

    The first ever non-caucasian president

  29. #99
    pimike
    SPORTS IS MONEY
    pimike's Avatar SBR PRO
    Join Date: 03-23-08
    Posts: 36,898
    Betpoints: 1060

    Quote Originally Posted by HAPPY BOY View Post
    thank god we still have congress
    Not sure I would call a Democratic majority a congress.

    Were screwed

  30. #100
    reno cool
    the meaning of harm
    reno cool's Avatar Become A Pro!
    Join Date: 07-02-08
    Posts: 3,567

    Quote Originally Posted by EBSB52 View Post
    He encouraged Congress to write and then he signed social program funding. He signed tax breaks for education spending. Ergonomics Bill, which dumbshit slashed as his 1st act.
    I believe the welfare reform bill he signed did more damage to the poor than anything a Republican can dream of.

    How do you start out with Universal health care and end up with sending impoverished mothers to meaningless jobs? Feeding the employers govt money.

    Republicans are shit. But lets not forget what a big turd Clinton was. ---and don't forget Kosovo and Iraqi sanctions.

  31. #101
    EBSB52
    EBSB52's Avatar Become A Pro!
    Join Date: 10-30-08
    Posts: 606

    Quote Originally Posted by reno cool View Post
    I believe the welfare reform bill he signed did more damage to the poor than anything a Republican can dream of.

    How do you start out with Universal health care and end up with sending impoverished mothers to meaningless jobs? Feeding the employers govt money.

    Republicans are shit. But lets not forget what a big turd Clinton was. ---and don't forget Kosovo and Iraqi sanctions.
    How did the welfare reform bill hurt the poor? Didn't that include limits on welfare receipt? Didn't it start workfare? Isn't it fair to give a gentle nudge to get people off welfare?

    As for Uni care, they drove that but congress and the people did not want that, I believe they do now. That was not a Clinto failure, they proposed it and all sides poo-poo'd it.

    Sending mothers to meaningless jobs, that was part of workfare, a nudge to get people off welfare. My GF's neice was a welfare mom, her welfare ran out and now she got a job, seems to have worked to me. I'm liberal, but I'm also reasonable, I think constant and chronic welfare is a bad thing unless there are circumstances where a person cannot work, then there's disability.

    >>>>>>>>>>>>and don't forget Kosovo and Iraqi sanctions.

    What about them?


    >>>>>>>>>>>>>But lets not forget what a big turd Clinton was.

    Oh, pls explain why. Be specific.

  32. #102
    pico
    USC ml
    pico's Avatar Become A Pro!
    Join Date: 04-05-07
    Posts: 27,321

    i heard walmart is handing out free grape flavored coolade with every purchase of baby shoes.

  33. #103
    jon13009
    jon13009's Avatar Become A Pro!
    Join Date: 09-22-07
    Posts: 1,258

    Quote Originally Posted by pavyracer View Post
    Have you ever heard of predatory lending? This is what caused the mortgage crisis. The banks got greedy without doing their due deligence. Kinda like the gambler that borrowed $25,000 from his aunt inheritence to bet on the Patriots in last year's Superbowl.
    I think the Pats were a better bet than those predatory mortgage loans and credit default swap bets.

    More like a Gambler that kept betting the Detroit Lions ML this year off his **** card and skipped town when his card stopped working - unfortunately before the Lions could win a game. The Gambler rolled up 1.3 billion dollars in debt because **** failed to monitor/regulate his account, and the government stepped it to bail out **** by paying off the debt.
    Last edited by jon13009; 11-05-08 at 07:48 AM.

  34. #104
    pico
    USC ml
    pico's Avatar Become A Pro!
    Join Date: 04-05-07
    Posts: 27,321

    Quote Originally Posted by jon13009 View Post
    I think the Pats were a better bet than those predatory mortgage loans and credit default swap bets.

    More like a Gambler that kept betting the Detroit Lions ML this year off his **** card and skipped town when his card stopped working - unfortunately before the Lions could win a game. The Gambler rolled up 1.3 billion dollars in debt because **** failed to monitor/regulate his account, and the government stepped it to bail out **** by paying off the debt.
    nice to be ****.

    CW is operating with similar business model as these preditory lenders

  35. #105
    tacomax
    SBR Problem Poster 2007-08
    tacomax's Avatar Become A Pro!
    Join Date: 08-10-05
    Posts: 9,619

    Quote Originally Posted by jjgold View Post
    Fishhead they cannot even coach fukkin sports teams how the fuk are they going to run the Country???
    jj - who do you mean by "they"?

    Perhaps SBR_John could shed some light on it.

First 1234 Last
Top