Comments on: The Roots of the Subprime Mortgage Mess Have Clinton All Over Them http://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/ Tue, 21 May 2013 16:51:44 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Anonymoushttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7855 Anonymous Fri, 12 Oct 2012 20:05:27 +0000 http://www.sundriesshack.com/?p=5777#comment-7855 how is it Clinton’s fault that you purchased a home that you clearly couldn’t afford and seemed very aware that you couldn’t afford it?

]]> By: Herbhttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7854 Herb Mon, 03 Sep 2012 20:42:38 +0000 http://www.sundriesshack.com/?p=5777#comment-7854 The author wants you to believe that BANKS buckled under pressure from the government. Really? That’s too funny. Perhaps, it the greed of Wall Street being able bundle worthless mortgage and sell them as gold in the form of AAA Securities. Sounds like a more likely motivator, considering the Financial arm of the government is an extension of Wall Street cronyism.

]]> By: Clearing the Browser Tabs – Great Moments in Government Meddling Friday Editionhttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7853 Clearing the Browser Tabs – Great Moments in Government Meddling Friday Edition Fri, 19 Aug 2011 10:11:39 +0000 http://www.sundriesshack.com/?p=5777#comment-7853 [...] the Browser Tabs – Great Moments in Government Meddling Friday EditionSome months ago, I wrote about the Community Reinvestment Act and the considerable part it played in the financial crisis from which we still haven’t [...]

]]> By: greghttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7852 greg Sat, 11 Sep 2010 20:45:06 +0000 http://www.sundriesshack.com/?p=5777#comment-7852 I bought a home in late 94, a real nice place, I was earning 7.25 an hour and had no money to put down. The whole thing was wierd and totally unbelievable, we went into debt trying to keep it because we just didn't earn enough, plan and simple. I remember Clinton starting this and was excited about having a place of my own, but it was a stupid mistake for me to think I could efford it. In 96 I filed for bankruptcy because the mortgage was just too much, in 97 the property was foreclosed. 7 years later a shady realtor talked me into buying another place which was even more crazy than before, 300000. loan with a 2nd balloon. had it for 4 years and it happened again, I ended up trying to put myself back together financially for the last 2 years. Yes it was clinton, I was there.

]]> By: Is it STILL Bush's fault? - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - City-Data Forumhttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7851 Is it STILL Bush's fault? - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - City-Data Forum Thu, 09 Sep 2010 11:49:25 +0000 http://www.sundriesshack.com/?p=5777#comment-7851 [...] in Subprime Meltdown Clinton's China Two-Step – Carnegie Endowment for International Peace The Roots of the Subprime Mortgage Mess Have Clinton All Over Them Of course, he had a lot of help… YouTube – Barney Frank in 2005: What Housing Bubble? [...]

]]> By: How Did GW Bush Cause Our Current Economic Problems? - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - Page 17 - City-Data Forumhttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7850 How Did GW Bush Cause Our Current Economic Problems? - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - Page 17 - City-Data Forum Sat, 12 Jun 2010 22:02:32 +0000 http://www.sundriesshack.com/?p=5777#comment-7850 [...] [...]

]]> By: Oneautahttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7849 Oneauta Sat, 10 Apr 2010 00:59:34 +0000 http://www.sundriesshack.com/?p=5777#comment-7849 Jimmie, you're right when you say "I beleive" but you're wrong in your assessment. While the CRA may have encouraged Bankers to abandon their "redlineing" it did not have any impact on non-bank lenders who were too willing to utilize "new" security instruments as investment opportunities.

And the question that begs to be answered is if this was Bill Clinton's baby why didn't the Republicans correct this "horrendous" defect when they came into power with their "Contract With Amemrica"? A Clinton veto? Not after 2001, from that date forward it's all Republican Administration, and Legislation.

]]> By: Jimmiehttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7848 Jimmie Sat, 09 May 2009 14:26:48 +0000 http://www.sundriesshack.com/?p=5777#comment-7848 You are factually incorrect about whether banks were forced to make riskier loans. New CRA enforcement, as my post ably indicates, forced then upon pain of punishment, to do so. Additionally, the federal government required the GSE's to take out more subprime mortgages, to the point where they held about half of all subprime paper in the country.

Sorry, but the CRA and the Clinton administration are firmly on the hook here.

]]> By: edhttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7847 ed Sat, 09 May 2009 13:28:33 +0000 http://www.sundriesshack.com/?p=5777#comment-7847 CRA may have created an atmosphere where banks felt pressure to make subprime loans, but they were never forced to engage in practices that didn't make sound financial sense such as offering second mortgages to cover down-payments or using irrational "teaser" loan rates. It makes little sense to say that just because the banks were being told to make more loans in low-income areas that they had to make unsafe or excessively large loans. Furthermore the majority of subprime loans were not made in urban areas at all.

According to Janet L. Yellen, President of the Federal Reserve Bank of San Francisco, independent mortgage companies made risky "high-priced loans" at more than twice the rate of the banks and thrifts; most CRA loans were responsibly made, and were not the higher-priced loans that have contributed to the current crisis.

]]> By: Jimmiehttp://www.sundriesshack.com/2008/09/21/the-roots-of-the-subprime-mortgage-mess-have-clinton-all-over-them/#comment-7846 Jimmie Fri, 27 Mar 2009 11:22:04 +0000 http://www.sundriesshack.com/?p=5777#comment-7846 So, you dispute the facts of the post or are you just here to muddy the waters?

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