i know that, idiot. gramm-leach-bliley act as a stand alone law passed with virtually 0 democrat support, not the overwhelming support you claim. which proves republicans were behind the banking deregulations, which led to the meltdown.
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are you retarded?
those quotes were from the same website. funny how you can't dispute them so you start attacking the president of federal reserve board of sf who didn't even make those quotes.
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You do not undestand politics kid. Liberals say things and write things to defend their positions and employers as do conservatves. Have you been able to google the final vote on that bill yet? Trillion dollar commitment?Comment -
How about 193 Dems voted for it on the final version only after the CRA stuff got in. Did you read Clintons comments yetComment -
That birth certificate is a fake...they didn't use the term african-american back then...
It took that clown this long to release it..that should have been done prior to him being elected, not
two plus years into his presidency..if you can call it that
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it would have passed regardless of votes from democrats. republicans CONTROLLED congress!
again, who authored it, introduced it and passed it with 100% backing from republicans?
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So you admit you posted the wrong data. 38 of 45 Dems voted for it in the Senate not your numbers. So you finally googled the real results. Clinton could have killed it with a veto, 193 Dems voted for it. If you are going to google something at least get it right. You probably knew and got called out on it, busted. Its funny how you think i am retarded (which is not a word in my vocabulary it is a very demeaning term of people who suffer this) for questioning a Govt banking official in 2008. It is cool to question President, congress but how dare anyone challenge a liberal Govt Bank Official. Elected and appointed officials act generally to serve their own interest and then defend themselves forever. It is the public responsibilty to challenge our elected and appointed officials. If more people would have challenged what was going in the sub-prime crisis including Fannie and Freddie, Bank officials, Mortgage Companies, Congress, maybe some of it could of been avoided.
Still nothing on trillion dollar commitmentsLast edited by philswin; 04-28-11, 06:02 PM.Comment -
i am a racist so i think this birth certificate is fake because i dont want to have a black presidentComment -
again, it passed with 100% backing from republicans and 1 democrat vote. if that's what you think of as "bi-partisan" support then you are indeed retarded.
you can question anyone you want. where did i say you couldn't? except you didn't question the FACTS (again), instead attacked someone who had nothing to do with the quotes that were attributed to. typical neocon tactic.Comment -
Get your facts straight understand that was the first version of the bill not the final version
When the two chambers could not agree on a joint version of the bill, the House voted on July 30 by a vote of 241-132 (R 58-131; D 182-1; Ind. 1–0) to instruct its negotiators to work for a law which ensured that consumers enjoyed medical and financial privacy as well as "robust competition and equal and non-discriminatory access to financial services and economic opportunities in their communities" (i.e., protection against exclusionary redlining).[12]
The bill then moved to a joint conference committee to work out the differences between the Senate and House versions. Democrats agreed to support the bill after Republicans agreed to strengthen provisions of the anti-redlining Community Reinvestment Act and address certain privacy concerns; the conference committee then finished its work by the beginning of November.[9] [13] On November 4, the final bill resolving the differences was passed by the Senate 90-8,[14][15] and by the House 362-57.[16][17] This legislation was signed into law by President William Jefferson "Bill" Clinton on November 12, 1999.[18]Last edited by SBRAdmin3; 06-27-14, 11:28 AM.Comment -
Contrary to some media commentary, there is no evidence that the Community Reinvestment Act was responsible for encouraging the subprime lending boom and subsequent housing bust. This Act only applies to depositories, and did not cover most of the important subprime lenders. Depositories showed a lesser tendency to write subprime loans than lenders not subject to the Act (Yellen 2008).
When they put her name in quotes that is attributing the quote to her. You posted twice in errorComment -
fact: glba passed the senate with 1 democrat voting in favor. talk about bi-partisian support.
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You talking about a kid who runs to google to search for anything to try and support his position and copies them and posts them without having any understanding what they mean. I worked for both Freddie and Fannie for multiple stretchs during the time periods in question. His only consistant postion is all Democrats are right and all repubs are wrong, when he loses another point he revertes to the Neocon. He still has not addressed the Fannie Mae trillion dollar commitments. He is persistant though I give him that.Last edited by philswin; 04-28-11, 06:30 PM.Comment -
you don't know how to read.
Bank for International Settlements (an international organization of central banks) concluded:Contrary to some media commentary, there is no evidence that the Community Reinvestment Act was responsible for encouraging the subprime lending boom and subsequent housing bust. This Act only applies to depositories, and did not cover most of the important subprime lenders. Depositories showed a lesser tendency to write subprime loans than lenders not subject to the Act (Yellen 2008).
the (yellen 2008) refers to the testimony she gave relaying the findings.
Last edited by SBRAdmin3; 06-27-14, 11:29 AM.Comment -
is that why he can't refute any facts i've brought up and keeps referencing a youtube clip as "proof" that barney & maxine were the reason for the meltdown?
wait, aren't you the moron who thinks obama is to blame for the crackdown on offshore gaming when it was your fellow neocons who passed the unlawful internet gambling enforcement act back in 2006? gee, a dumb neocon supporting one of his own, what a shocker.Comment -
So thats all you got left??????? - So she said it and someone wrote it down??Contrary to some media commentary, there is no evidence that the Community Reinvestment Act was responsible for encouraging the subprime lending boom and subsequent housing bust. This Act only applies to depositories, and did not cover most of the important subprime lenders. Depositories showed a lesser tendency to write subprime loans than lenders not subject to the Act (Yellen 2008).
the (yellen 2008) refers to the testimony she gave relaying the findings.
Last edited by SBRAdmin3; 06-27-14, 11:29 AM.Comment -
No idiot that was not me read again - Subject change again
is that why he can't refute any facts i've brought up and keeps referencing a youtube clip as "proof" that barney & maxine were the reason for the meltdown?
wait, aren't you the moron who thinks obama is to blame for the crackdown on offshore gaming when it was your fellow neocons who passed the unlawful internet gambling enforcement act back in 2006? gee, a dumb neocon supporting one of his own, what a shocker.Comment -
why don't you google an answer to my questions since you obviously can't answer them with your "vast experience."
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I wanted you to read Clintons own words. Trillion dollar commitments? Vote? Do you understand anything you posted?Comment -
According to the congressional testimony of Michael Barr (law professor at University of Michigan), 50% of the subprime loans were made by non-CRA mortgage companies, and another 25-30% came from mortgage companies only partially regulated by the CRA—-fully CRA-regulated institutions are responsible for “perhaps” one-in-four sub-prime loans. To quote the professor: “the worst and most widespread abuses occurred in the institutions with the least federal oversight.” And even more definitively, the Bank for International Settlements (an international organization of central banks) concluded:Contrary to some media commentary, there is no evidence that the Community Reinvestment Act was responsible for encouraging the subprime lending boom and subsequent housing bust. This Act only applies to depositories, and did not cover most of the important subprime lenders. Depositories showed a lesser tendency to write subprime loans than lenders not subject to the Act (Yellen 2008).
Last edited by SBRAdmin3; 06-27-14, 11:29 AM.Comment -
As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation. He played the leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act that separated commercial banks from Wall Street, and he inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives such as credit-default swaps from regulation by the Commodity Futures Trading Commission (CFTC).Last edited by SBRAdmin3; 06-27-14, 11:29 AM.Comment -
keep searching kidComment -
You should re-read thread - My point is the list is very long of the people to blame for the Financial Crisis Democrats and Republican alike. You can search the internet and finds lots of articles many biased and without full understanding of the crisis, they lay them blame on many people. You seem to only blame 2 people without any real understanding of the subject matter. The list is long and expansive. This did not happen overnight it was seeded many years ago and built from the Clinton Admin , Bush Admin, Congress, Freddie, Fannie, Wall Street, Bankers. the list is long your contention that is was just republicans is so incorrect. Hope you learned something.Comment -
yet you keep putting the bulk of the blame on cuomo and fannie mae when evidence says otherwise.Comment -
sure, just like when you claimed ford had turned it around without any gov't help, even though they had lost $17 billion from 2008-2009 and didn't turn a profit until obama implemented 'cash 4 clunkers'.
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when you claimed cheney had no connections to haliburton when he was still on their payroll as vice president and held stock options worth millions.
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