stimulus bill 5,6,7?

[timesjoke]

Hm. Watching that, I'm sensing that there's more to it than just the Dems being morons. The lack of continuous video i.e. the cuts between clips, make me suspicious of the whole thing. And on the surface, it does seem like they're saying there's nothing wrong with Fannie Mae/Freddie Mac.

These things last days sometimes, the only way to show the meat of the meetings is to use segments. I am sure you can find an old archive of the entire hearings if you really want to.

Republicans had been screaming about the lack of oversight with Fannie and freddie, they were even exempt from most of the rules other banking companies had to follow, that is why they caused this mess. Fannie and Freddie had a limit as to how much in loans they could hold at opne time so they would close a loan to someone who could not possibly pay that loan to term and then sell it to a private bank to free up money that can close another loan and sell that one too, over, and over, and over until they caused this mess.

Suspicious like when Meeks is "beating up on the regulator". He's questioning why they should listen to OFHEO, and give them regulatory power, as this would be their fault in the first place.

Your not keeping up with the point, slow down and stop looking for excuses to protect your progressives.

The OFHEO never had direct power over Fannie and Freddie, look at about 4 minutes into the video, the Democrat Davis admitted that they did not have any regulatory authority to place an ultamatum on them, basically saying the regulator over stepped himself even though he was just responding to a massive problem he discovered.

Several other places Republicans point out that Freddie and Fannie were exempt from many new laws that were created to regulate banks, they were completely free to do anything they wanted to do and when Republicans attempted to do something about it, the Democrats blocked it.

Shay says that OFHEO has been manipulated for years by Fannie Mae, which is the same regulatory group who the Republicans insist should have more power. The question there is whether they'd still be able to manipulate them, as they were filthy rich.

They were manipulated because the OFHEO had no real power over them, think of it like the weapons inspectors in Iraq, they were told to look around but they were kicked out over and over and blocked from seeing certain things.

If the Democrats had not blocked these attempts to make Fannie and Freddie accountable to someone, we would not have seen the massive crash that came later.

Also, part of the video says that Raines is saying that houses aren't risky investments. I doubt Raines is that stupid. It seems more likely that he's talking about how the loans they give are backed by the government, so they are riskless in that they're always backed by money somehow.

Your nieve.

No, they are not that stupid, they are driven by an ideology that makes the waste of Government money irrelivent. They knew there were problems and they did not care. This hearing clearly proved there were problems but the Democrats circled the wagons, started playing the race card, and blocked any new restrictions to what Fannie and Freddie were doing.

So I just proved to you that the Republicans did try to warn people, they did try to create new regulations to protect Americans, and only the Democrats blocked those protections and refused to protect Americans. The facts are there for you to see, the question is will you pull your head fromt he sand and admit it is there, or will you still be blinded by the lies from the progressives that they are blameless for the crashed economy?

Look behind all of these issues and you will find Conservatives fighting for solutions while Progressives are blocking those same solutions.

But all I can do is show you the door, it is you who has to walk through it.

 

[jokersarewild]

I was simply saying the video seemed to have more about it than was assumed by the fellow who made it. If I just took it as gospel, I'd be quite a bit more susceptible to your bullshit, TJ. And yes, it does seem as if the Dems blocked regulations. I'm still skeptical, but from what I've researched, that would seem the case.

 

[timesjoke]

I was simply saying the video seemed to have more about it than was assumed by the fellow who made it. If I just took it as gospel, I'd be quite a bit more susceptible to your bullshit, TJ.

You lacking eduction on the subject does not mean I am speaking bullshit kid. You have kept your head buried in the sand and your blindly defending the progressives based on your lack of knowledge, all I am doing is trying to educate you on some of the most basic things every American should know but it seems they don't care enough to actually see the facts.

The Republicans tried to save, or at least lessen the damge they saw comming in the housing market and it was the direct actions of the Progressives who blocked those attempts and force a much bigger crash then we should have had.

And yes, it does seem as if the Dems blocked regulations. I'm still skeptical, but from what I've researched, that would seem the case.

As I said, if you want to see the entire video for yourself I am sure it is archived somewhere, but their words are their words, you heard them defend Fannie and Freddie and say there were no problems that needed to be fixed, hard to change those words into a different meaning.

While your looking on your own take the time to also see where many bills were created by Republicans both before, and after this video that was designed to gain more control over these things and again it was the Democrats who blocked those bills from ever making it to the floor for a vote.

Would a crash of some sort still have happened?

Being fair I would have to say I believe it would have, Fannie and Freddie had inserted way too many irresponsible loans into the system for it to have no harmful reaction over time, the banks saw these loans failing and tried to do like Prividian credit card division did in getting more customers in the attempt to offset the losses for those who did not pay. So the banks were at fault because they started issuing the same kinds of loans the Government was issuing through Fannie and Freddie.

Basically, Fannie and Freddie ended up setting the standard all the other banks did business under.

And just like Providian that was once the largest credit card provider in America, it all came crumbling down.

So yes, I do believe even with the changes Republicans wanted to make, there would still have been a crash of some sort, but it would have been much smaller and not as devestating as the crash we did end up getting.