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The Role of Congress in the Recession of 2008
Myself ^ | 2/15/2009 | Danae

Posted on 03/03/2009 5:20:47 PM PST by Danae

click here to read article


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To: abigailsmybaby

I would be honored if you did! I worked very hard to not only make my case with this, but to prove it with existing information. I hope that it gets to as many people as possible, the more who know how we got to where we are, the better chance we stand of stopping it and preventing it from happening again. Unfortunately the Current Government is running straight down the road of continuing it, which will of course only make it worse. Perhaps even worse than I can imagine, and I can imagine a lot... :(

Thank you again very much!

D


101 posted on 05/03/2009 10:59:56 PM PDT by Danae (Amerikan Unity My Ass)
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To: Danae

Thank you!

We’re trying to ready ourselves for “worse”. It’s coming like a freight train.


102 posted on 05/03/2009 11:19:45 PM PDT by abigailsmybaby (To understan' the livin' you got to commune wit' da dead.)
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To: Danae

Ping for later reading.


103 posted on 07/20/2009 8:36:27 PM PDT by Uncle Ivan (Alea iacta est)
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To: Danae

Bookmarked.


104 posted on 07/21/2009 2:43:19 PM PDT by Sister_T
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To: Danae
I know this thread is several years old, but this exact topic came up in a discussion at work. Thanks for all the work you put into this, saving a lot of time of looking up the relevant bills and such.

One thing though, in one of the earlier paragraphs you wrote:

Another significant cog in the machine was manufactured in 1992. Congress would pass the Federal Housing Enterprises Regulatory Reform Act. Among other things, this Law would build upon the CRA...

I think you might have meant Federal Housing Enterprises Financial Safety and Soundness Act of 1992 instead. I just wanted to post this in case anyone else was looking for info on what went wrong with the housing market, and was getting confused.

105 posted on 04/18/2011 9:21:53 PM PDT by Drrdot
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To: Drrdot

Hey there! Thanks for the correction! Going from memory here, but I am certain I got the name of the bill directly off the bill itself. I remember citing it, and reading the bloody thing to a great degree. It’s possible that the name got changed at some later time. This was a college paper, and one that I knew was going to get every single citation checked and verified by the professor, so I was beyond meticulous in citations. I got an A lol.

But thank you very much for catching this difference! These things DO matter!!

Have a great evening!

D


106 posted on 04/18/2011 10:26:17 PM PDT by Danae (Anailnathrach ortha bhais beatha do cheal deanaimha)
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To: Drrdot

Hey there! Thanks for the correction! Going from memory here, but I am certain I got the name of the bill directly off the bill itself. I remember citing it, and reading the bloody thing to a great degree. It’s possible that the name got changed at some later time. This was a college paper, and one that I knew was going to get every single citation checked and verified by the professor, so I was beyond meticulous in citations. I got an A lol.

But thank you very much for catching this difference! These things DO matter!!

Have a great evening!

D


107 posted on 04/18/2011 10:26:33 PM PDT by Danae (Anailnathrach ortha bhais beatha do cheal deanaimha)
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To: Danae
Gah! It seems I have made a mistake as well. The more common name is the Housing and Community Development Act of 1992. In this Act, Title XIII is referenced as The Federal Housing Enterprises Financial Safety and Soundness Act of 1992.

According to The Library of Congress Website, the Federal Housing Enterprises Regulatory Reform Act of 1992 passed the senate but was 'held at desk'. Another one of the same name (Federal Housing Enterprise Regulatory Reform Act of 2005) that McCain cosponsored in 2005 also didn't get passed. So, who knows when names were changed or whatnot.

Also, Title XIII of the HaCDA, section 1332 establishes goals for low and moderate income housing, and section 1345 describes the monetary penalties than can be imposed for failing to meet goals. However, both of these only pertain to Fannie and Freddie as defined at the start of Title XIII. Do you know if there was a bill that did affect non Freddie/Fannie banks? Even if there is no bill that specifies it, it seems to me like other banks would willingly take give out subprime loans in order to sell them to Fannie and Freddie, who needed to meet quotas.

108 posted on 04/19/2011 8:56:47 PM PDT by Drrdot
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To: Drrdot

Hey there, I just saw your post while re-posting the main article. No worries on the links. The names do sometimes change, and frankly many in congress do not want us to be able to trace what they have done easily. Generally speaking I go to original sources when I cite materials. I have to. This is a standard that must be met when doing academic research papers. One of my current professors is a Brigadier General... you just do not mess around at that level, if you do, you will get your arse handed to you in pieces, and rightly so.

Sorry it took so bloody long to respond to you, I missed your posting!


109 posted on 09/23/2011 5:51:12 PM PDT by Danae (Anailnathrach ortha bhais beatha do cheal deanaimha)
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To: Danae
No worries at all. For the record, I completely agree with you on citing the original source materials. I particularly like doing this when debating liberals as they will inevitably otherwise deny any source that is at all conservative leaning because it's 'biased'. I really wish even major 'news' stations would do so as well.

Anyways, thanks for responding!

110 posted on 09/23/2011 8:00:30 PM PDT by Drrdot
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