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All I know for sure is that selling a house right now is like selling a Ford F150. There's so many out there, the buyer is in charge.Life is not measured by the number of breaths you take, but by the moments that take your breath away.
"Hating America is something best left to Mobius. He is an expert Yank hater.
He also hates Texans and Australians, he does diversify." ~ BraindeadComment
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Not that I agree or disagree with his point, since I think the issue is much more complicated than a single point, but I will attempt to explain his point to you. I believe his point is that the GOP is being blamed for this situation because of their general support for deregulation when in actuality it was the Dems who favored deregulation of Fannie Mae and Freddie Mac while the GOP opposed it.Originally posted by Riesstiu IV
What's the point? Your just going to believe whatever the hell you want to believe. My words would be wasted on you.
I believe his point would also qualify for the irony thread.
Asserting that someone's opinion is wrong simply because you say it is or because it would be a waste of time to explain why they are wrong or to accuse them of "believing whatever they want" without actually explaining why they are wrong is not a very strong argument. In most cases, these are the favorite arguments of a person who has no argument.
If someone's opinion is wrong because you say it is, tell us why. If someone is just believing what they want to believe, tell us why their belief is wrong. If it is a waste of time to tell us why someone is wrong, don't waste your precious time posting to tell us you don't have the time.Comment
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Almost exactly right. To be fair, the Democrats didn't favor deregulation in the case of Fannie and Freddie. They just opposed necessary regulation pushed for by the Republicans even after Greenspan told them it was needed (and basically predicted what would happen if Fannie and Freddie weren't regulated).I believe his point is that the GOP is being blamed for this situation because of their general support for deregulation when in actuality it was the Dems who favored deregulation of Fannie Mae and Freddie Mac while the GOP opposed it.Comment
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1. Fannie and Freddie were clearly not the major problem. They acted quite a bit more responsibly than their non-GSE competitors, mostly staying out of the subprime mess, etc. The legislation that you referred to did nothing about the rest of the market.
2. The idea that the Dems killed GSE regulation is total bull****. A Republican version of regulation passed the House by a huge margin (with a large majority of Dems voting for it), and then languished due to apathy in the Senate and hostility by Bush (according to Republican Rep. Oxley, of Sarbannes-Oxley fame). It looks like it was read into Committee, and then ignored.
Your articles fail the most cursory logical scrutiny. If the R's voted for, and D's voted against it in Committee party line, since the Republicans controlled the Senate at the time (55-45), that would've meant that it would've gone to the floor. But it never did."Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
-BokononComment
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They just opposed necessary regulation pushed for by the Republicans even after Greenspan told them it was needed
From the FT article I just linked to:
Mr Greenspan also weighed in, saying that the House legislation was worse than no bill at all."Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
-BokononComment
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tl;drOriginally posted by Deity Dude
Not that I agree or disagree with his point, since I think the issue is much more complicated than a single point, but I will attempt to explain his point to you. I believe his point is that the GOP is being blamed for this situation because of their general support for deregulation when in actuality it was the Dems who favored deregulation of Fannie Mae and Freddie Mac while the GOP opposed it.
I believe his point would also qualify for the irony thread.
Asserting that someone's opinion is wrong simply because you say it is or because it would be a waste of time to explain why they are wrong or to accuse them of "believing whatever they want" without actually explaining why they are wrong is not a very strong argument. In most cases, these are the favorite arguments of a person who has no argument.
If someone's opinion is wrong because you say it is, tell us why. If someone is just believing what they want to believe, tell us why their belief is wrong. If it is a waste of time to tell us why someone is wrong, don't waste your precious time posting to tell us you don't have the time.Comment
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PS
PPS
PMSLife is not measured by the number of breaths you take, but by the moments that take your breath away.
"Hating America is something best left to Mobius. He is an expert Yank hater.
He also hates Texans and Australians, he does diversify." ~ BraindeadComment
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Of course the Democrats are to blame. As are the Republicans... the banks... the Fed... and the people buying houses they couldn't afford. Pretending like just one thing caused this mess is ridiculously stupid.Comment
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Point, set, match. Aeson, wtg.
Life is not measured by the number of breaths you take, but by the moments that take your breath away.
"Hating America is something best left to Mobius. He is an expert Yank hater.
He also hates Texans and Australians, he does diversify." ~ BraindeadComment
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Fundamentally this is two distinct but connected valuation errors. Banks underestimated the risk in a subprime loan, and the overvalued the asset backing the loan. An unfortunate combination.Comment
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Re: Are the Democrats responsible for the U.S. financial crisis?
Originally posted by Naked Gents Rut
But Sen. McCain's criticisms are at least credible, since he has been pointing to systemic risks in the mortgage market and trying to do something about them for years.
Take John McCain, your Republican presidential nominee, whose senior staff includes half a dozen prominent former lobbyists. As he recently put it, "I was chairman of the [Senate] Commerce Committee that oversights every part of the economy."
So, Fannie and Freddie got a support of congress, and the chairman of the senate committtee was McCain, but Democrats are responsible for it
Well, i guess there is a reason why that profession is called "spin doctoring" in English language - they're professionals in "spinning" the truth in the opposite direction
Knowledge is PowerComment
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So I guess once we can determine who to blame - the democrats or the republicans, we can't be satisfied with the fact that banks gave tons of loans and credit to people they shouldn't have and people are always after loans and more credit so they can buy **** they can't afford. Good for business? Short term, perhaps, long term, nope.
But now it is way more important to blame Obama or McCain for this
Because when we elect THE OTHER GUY who is less responsible, crap like this won't happen. Yes?
In da butt.
"Do not worry if others do not understand you. Instead worry if you do not understand others." - Confucius
THE UNDEFEATED SUPERCITIZEN w:4 t:2 l:1 (DON'T ASK!)
"God is dead" - Nietzsche. "Nietzsche is dead" - God.Comment
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Did anyone here ever listen to Alan Greenspan testify in front of Congress? The man would purposefully confuse them with technical jargon and ambiguous speech. He did that because he didn't want them to be able to regulate banking and finance. He wanted the government to leave banking and finance to the bankers and financiers. That's the way the system is made. All the responsibility falls on the banking and finance industry.
Unfortunately for the Republicans more people associate these people with them.
Last edited by Kidlicious; September 24, 2008, 08:18.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Half of the posters are saying the other half doesn't understand the
crisis. It seems I am the only one not understanding it.
So, a poor buys a house with a loan and cannot pay it. But the house
is still there,right?
No loss, unless the house's price was very high, and even so...
True loss only comes when a "paper" has nothing behind or there are
several papers on the same thing.
Perhaps someone can enlight me.Comment
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