Trooper745 Loc: Carolina

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

Again, let’s review:

-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.

-John McCain also co-sponsored urgently critical reforms that would have prevented the housing market collapse, but Democrats shut that down as well, along party lines, and even openly ridiculed anyone who suggested reforms were necessary…to protect their taxpayer-funded campaign contributions as the economy raced uncontrollably toward the cliff.

-No one was making bad loans to unqualified people until Democrats came along and threatened to d**g banks into court and have them fined and branded as r****ts if they didn’t go along with the left’s Affirmative Action lending policies…all while federally insuring their losses. Even the New York Times warned in the late 1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.

-Democrats themselves are even on the record personally helping sue one lender (Citibank) into lowering its lending standards to include people from extremely poor and unstable areas, which even one of the left’s favorite blatantly partisan “fact-checkers,” Snopes, admits (while pretending to ‘set the record straight’).

-Even The New York Times admitted that there is “little evidence” of any connection between the “Republican” deregulation measures Democrats blame, like the Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse of the housing market.

But non-Fox media have spent years deliberately and relentlessly inoculating people against the facts, training them to mindlessly blame Bush for being in charge when Democrat policies destroyed the economy. So here we sit, to this day, still watching Democrats excuse and shrug off endless economic failures, illegal government takeovers and utter national bankruptcy with zero accountability.

by departed.co

Raylan Wolfe Loc: earth

False: The National Bureau of Economic Research did not publish the propaganda below! Evidently trooper copied the propaganda from a right wing site. Notice pooper did not provide a credible source to prove otherwise!

Now the National Bureau of Economic Research did publish this: The US economy always grows faster when there is a sitting Democratic president versus a Republican, for the last 16 presidents!

http://www.nber.org/papers/w20324

Hemiman Loc: Communist California

Now we finally know NBER would never publish a report that wasn't 100%true.

Trooper745 Loc: Carolina

The paper you quote has absolutely nothing to do with the facts I posted. If you wish to read the correct NBER report (45 pages in pdf format) you can find it at:

http://www.nber.org/papers/w18609.pdf

There is no doubt that the real estate crash that precipitated the recession was caused by foolish lending rules that were written and passed by Democrats. I was in the real estate business at the time, and saw the trouble building because of unsound lending rules.

Patsaco1

So what's happened with Obummer in the White House? According to you, the economy should be booming...
NOT

Hemiman Loc: Communist California

You need to hit quote reply so everyone knows who you are responding to,just sayin.welcome aboard!

Patsaco1

Thanks

Hemiman Loc: Communist California

Good to have you with us.

Radiance3

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I was right all along, in blaming Democrats for the failure of the real estate market in 2008. Since 2006 when Democrats took over Congress lead by Pelosi, Democrat Congress lowered the standards of home buying, and required banks to provide loans to non-qualified buyers of homes. They threatened to sue banks who do not allow. Even Acorn, and MoveOn.org, powerful arms of the democrats, had been demonstrating all over yelling to banks and lending institutions to sue if low income and unqualified home buyers were not allowed to obtain mortgage. This was supported by the democrats in Congress.

As a result, millions of UNGUALIFIED home buyers were able to buy homes. Even i*****l a***ns were able to buy homes.
The real estate market was so busy making money selling homes in 2006, and 2007 like hot cakes. Prices of homes went up due to high demands. Then starting in 2008, president Bush was still the president, but can't control the power of democrats in Congress that held the lower and upper chambers.

In 2008, the housing starts to collapse due to those millions of homes funded by Fannie and Freddie to banks that provided loans to UNGUALIFIED buyers had failed to pay their mortgage obligations. Due to these SUBPRIME loans, thousands of small banks that got involved on these t***sactions got bankrupt and closed effective 2008 and 2009. In 2008, while trying to save the economy, President Bush had ordered a TARF programs to save big banks from failing. Fannie and Freddie was adversely affected due to thousands of lenders were not able to survive this unprecedented lending crisis. some of the banks most adversely affected were bailed out in billions of dollars.

In 2009, Obama due to his "hope and change" started blaming president Bush, even when it was the democrats in Congress who lowered the lending standards for home buying.

Hemiman Loc: Communist California

Exactly.

Tasine Loc: Southwest US

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I've noticed that to be a "democrat" one must lie about every fact presented, and if he lies often enough and loudly enough, every democrat on the planet will join him in braying about how wonderful idiocy and hatred are as long as it is a democrat doing the braying. How horrible it must be to be a democrat what with having to shut down your brain, prevent it from absorbing any good, and be prepared to lie and dissemble on demand at all times.

lpnmajor Loc: Arkansas

True, but the harsh reality today is; if you don't know the persons political affiliation beforehand, you'll have a hard time telling from what is said. Everybody lies. Everybody minimizes their own faults and exaggerates everyone else's.

That fact of the matter is, both democrats and republicans are responsible for our economic woes. Did no one else notice that no political types lost their ass in the crash? They had foreknowledge and only acted to protect THEIR assets, leaving the rest of us to the tender mercies of Wall Street. Now, the simple minded repeat the drivel sold by these political types, to keep us pointing the finger everywhere except in THEIR faces - which is where those fingers belong.

Tasine Loc: Southwest US

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To an extent I agree with you. I DO NOT agree that "everyone lies", that "everybody minimizes their own faults and exaggerates everyone else's". That is a very false statement. Now, if you are referring to POLITICIANS, I agree with you; but you must admit that politicians are some of the lowest forms of humanity that exist. And then the next admission should be that one has to wonder about Americans who seem to feel America MUST HAVE A GOVERNMENT, that group of lowest form of humanity making our decisions for us and telling us how to live. Does any of this strike a chord?

Babsan

My Gosh,all the Liberal Obama and Democrat lovers won't like this

PoppaGringo Loc: Muslim City, Mexifornia, B.R.

Still posting your left-wing nonsense aren't you sweetie pie? That is ok, there are enough of your kind aboard to appreciate your efforts.