Here’s the thing.
First I apologize for getting snarky. I was not having a good posting day yesterday.
The fact I was trying to make, and I know it’s anecdotal, was I knew far more blacks, and whites that took advantage of the sub prime loans, and down payment assistance than immigrants,(The foreclosure rates by race back this evidence) and trust me Charlotte, and all of NC has more than it’s fair share of immigrants, legal, and illegal. Ann Coulter uses NC as an example of child sex charges by immigrants. Also that my wife and I took advantage of the down payment assistance. I’m glad it was there. Might be selfish, might be non-conservative, but sometimes doing the right thing for your family moves way to the front of the priority line. Heck at least I contributed to it with my taxes.
Using taxpayer dollars to bail out banks, and businesses is not a good idea, but after 911 we were much closer than most ever knew to a real economic collapse. We used taxpayer dollars to help prop up a lot of industries.
The main point I was trying to make about the statement from Trump was, W wasn’t the only one who deserved blame for the sub prime crash.
“Several administrations, both Democratic and Republican, advocated affordable housing policies in the years leading up to the crisis. The Housing and Community Development Act of 1992 established, for the first time, an affordable housing loan purchase mandate for Fannie Mae and Freddie Mac, a mandate to be regulated by the Department of Housing and Urban Development (HUD). Initially, the 1992 legislation required that 30 percent or more of Fannie’s and Freddie’s loan purchases be related to affordable housing. However, HUD was given the power to set future requirements, and eventually (under the Bush Administration) a 56 percent minimum was established.[235] To fulfill the requirements, Fannie Mae and Freddie Mac established programs to purchase $5 trillion in affordable housing loans,[236] and encouraged lenders to relax underwriting standards to produce those loans.[235]
“The National Homeownership Strategy: Partners in the American Dream”, was compiled in 1995 by Henry Cisneros, President Clinton’s HUD Secretary. This 100-page document represented the viewpoints of HUD, Fannie Mae, Freddie Mac, leaders of the housing industry, various banks, numerous activist organizations such as ACORN and La Raza, and representatives from several state and local governments.”[237] In 2001, the independent research company, Graham Fisher & Company, stated: “While the underlying initiatives of the [strategy] were broad in content, the main theme … was the relaxation of credit standards.”
Turns out I misread the article, and that wasn’t what Trump said anyway (told you I was having a bad posting day yesterday). However clearly this ball started rolling during the Clinton Administration.
Yes W. made mistakes, but so did banks, and democrats, and the republicans in congress.
To me the biggest culprit in the sub prime incident was the education system in this country. We don’t teach kids how to read, not to sign a contract with out understanding what they read, simple economics, and budgeting, and we’ve become such a covetous society that people believe they deserve what their neighbor has whether they can pay for it or not. If we still had education, most people would know better than to sign a house note that was going to quadruple in 4 years.
Fair enough FRiend?, Again, I am like you and try to stay civil, and apologize again for snarling.
Apologies accepted. I understand completely. Sorry for not responding sooner, but I was away from the computer until now.
Using taxpayer dollars to bail out banks, and businesses is not a good idea, but after 911 we were much closer than most ever knew to a real economic collapse. We used taxpayer dollars to help prop up a lot of industries.
Yes, but propping up any industry, especially Wall Street banks, is bad for the country. The reason why the country was close to economic collapse was because of the bankers' greed and giving them taxpayer dollars is throwing good money after bad. If a company has no taxpayer-subsidized safety net, they'll be more conservative with their investments.
Keep in mind that breaking the economic back of the USA was, and still is the plan. The goal? North American Union.
That's why Bush pleaded with the Republican-controlled Congress to reform the mortgage industry and they did nothing. That's why Bush ordered the Border Patrol to stand down. That's why Bush implemented policies to enable Mexican illegal aliens to gain entry into the US banking system. That's why the Republican-controlled Congress authorized funding of a southern border wall, yet Bush did nothing to build it. That's why Bush was pushing Shamnesty.
The only way the NWO elites who want the NAU can win is if US citizens lose. The only way the NWO elites can win is if they keep the US citizens distracted with a Democrat vs. Republican "fight." Behind closed doors, the Rs and Ds don't fight. They're working together on planning ways to steal more freedoms and tax dollars from the citizenry.
The main point I was trying to make about the statement from Trump was, W wasn’t the only one who deserved blame for the sub prime crash.
The problem wasn't caused by Republicans or Democrats. The problems facing this country were caused by Republicans and Democrats.
Both parties rely on the team spirit to pit American against American. Meanwhile, they're both passing more onerous laws that rob us of our freedoms and our money.
If you take one side or the other you're playing right into the hands of the politicians, bureaucrats and NWO elite.
Yes, Carter is at fault. So is GHW Bush. As is Clinton. Same for GW Bush. Ditto for Obama. None does anything to undo the wrongs done by their predecessor because they're all on the same NWO elite team.
The only us vs. them that really matters is the citizens vs. the government.