10 Feb 2020 2:20 pm
True, but it was liberal policy written, pushed, vastly expanded and protected by your corrupt party, including Obama.Termin8tor » 10 Feb 2020 2:11 pm » wrote:
You are a LIAR that is an outright LIE the STUPIDITY of blaming OBAMA for the crash that took place BEFORE he was elected is DERANGED. The CRASH came from GOP slash regulation policies that is PLAIN to anyone paying attention if we had NOT gotten RID of Glass Steagall the crash never happens
The #1 recipient of Fannie Mae campaign funds.
FAnnie and Freddie didnt CAUSE the crash you BRAINWASHED MORON they were victims of it. GOD you are STUPID and BRAINWASHED
https://www.theatlantic.com/business/archive/2011/12/for-the-last-time-fannie-and-freddie-didnt-cause-the-housing-crisis/250121/
Wallison fails to inform his readers that Wall Street's "private-label securitization" of mortgages, which objective analysts identify as the primary source of most subprime and other high-risk loans, experienced a dramatic increase in market share that was exactly contemporaneous with the housing bubble, rising from about 10 percent market share in 2003 to nearly 40 percent by 2006. Overall, loans originated for private-label securitization have defaulted at about six times the rate of Fannie and Freddie loans. Indeed, Wallison does not explain--cannot convincingly explain--why the housing bubble occurred during a period when Fannie and Freddie's market share dropped precipitously.
Third, Wallison ignores the parallel bubble-bust cycle we experienced in commercial real estate, which does not have affordable housing policies of the sort he criticizes for Fannie and Freddie. Commercial real estate values experienced a peak-to-trough price decline of 45 percent, which was considerably worse than the 33 percent peak-to-trough price decline we saw in residential real estate. If, as Wallison contends, it was affordable housing policies that caused the residential real estate bubble, then what caused the bubbles in commercial real estate? Moreover, why did we have similar surges in credit liquidity in student loans, auto loans, and credit cards?
YOu are a MORON talking about an issue you are too STUPID to understand TRAITOR
you told 1,000 lies about Bush and finally got lucky on one.
You are a PROVEN LIAR the TRUTH was told about Bush and TRAITORS like you HATE the TRUTH and REALITY