The economy comes crashing down

[bsm2]

Re: The economy comes crashing down

The only "defaults" that B of A is worried about is on credit card debt and mortgages, with mortgages being the elephant in the room. Mortgage rate are starting to rise while home values have peaked and are starting to fall. Sounds very similar to the lead to the financial crisis of 2008 when the huge mortgage bankers failed.

2008 was because of Junk sub prime mortgages we do have that problem.

BUSINESS IS Booming

Biden BOOMM Baby

[copiertec]

Re: The economy comes crashing down

The only "defaults" that B of A is worried about is on credit card debt and mortgages, with mortgages being the elephant in the room. Mortgage rate are starting to rise while home values have peaked and are starting to fall. Sounds very similar to the lead to the financial crisis of 2008 when the huge mortgage bankers failed.

If we go back to 2008 and the criminality that took place of these banks, mortgage companies, etc. being allowed to create the mess that they did, why did no one face any jail time? Why were these banks bailed out with trillions of "our" money by the government? It's criminal, why was my corporation not excused of it's mortgage? After all those banks and lenders were bailed out with our tax dollars, we should have been forgiven of any debt at that point. A criminal organization... we call government.

[slimslob]

Re: The economy comes crashing down

If we go back to 2008 and the criminality that took place of these banks, mortgage companies, etc. being allowed to create the mess that they did, why did no one face any jail time? Why were these banks bailed out with trillions of "our" money by the government? It's criminal, why was my corporation not excused of it's mortgage? After all those banks and lenders were bailed out with our tax dollars, we should have been forgiven of any debt at that point. A criminal organization... we call government.

Actually those banks and lenders were for the biggest portion baled out by insurance companies that insured such loan payback guarantee agencies like Fannie Mae and Freedie Mac as well as sub-prime loans secured though HUD. In February 2004, Alan Greenspan testified before the Senate Banking Committee about the serious financial risks these programs presented.

Sub-prime loans were those financial institutes were forced to make to a certain percentage of those who did not currently to have the normal financial profile needed to guarantee that they would be able to pay the loans off. They were ARM loans that started out with extremely low interest and payments. When the interest and payments would approach the ARM up date, they would just refinance with another sub-prime and when doing so they found out that they could also take out equity that had accrued from increasing home prices. When the home prices then started to fall, they could no longer take out cash and if the loan went upside down, they owed more than the property was worth, they could not fully refinance the old loan.

[Copier Addict]

Re: The economy comes crashing down

Actually those banks and lenders were for the biggest portion baled out by insurance companies that insured such loan payback guarantee agencies like Fannie Mae and Freedie Mac as well as sub-prime loans secured though HUD. In February 2004, Alan Greenspan testified before the Senate Banking Committee about the serious financial risks these programs presented.

Sub-prime loans were those financial institutes were forced to make to a certain percentage of those who did not currently to have the normal financial profile needed to guarantee that they would be able to pay the loans off. They were ARM loans that started out with extremely low interest and payments. When the interest and payments would approach the ARM up date, they would just refinance with another sub-prime and when doing so they found out that they could also take out equity that had accrued from increasing home prices. When the home prices then started to fall, they could no longer take out cash and if the loan went upside down, they owed more than the property was worth, they could not fully refinance the old loan.

And the Bush bailout went primarily to big bonuses for the morons who actually caused the collapse in the first place. Which is exactly what it was designed to do.

[slimslob]

Re: The economy comes crashing down

Inflation Surges after Biden Bragged About Beating Inflation at the SOTU – RedState

[BBM]

Re: The economy comes crashing down



But, the fact remains, due to interest, dividends and other revenue streams, the government has received more money back ($266.7 billion, according to the Treasury) than it handed out to banks under the bailout law ($245.2 billion). We rate this claim Mostly True.

[BillyCarpenter]

Re: The economy comes crashing down

Actually those banks and lenders were for the biggest portion baled out by insurance companies that insured such loan payback guarantee agencies like Fannie Mae and Freedie Mac as well as sub-prime loans secured though HUD. In February 2004, Alan Greenspan testified before the Senate Banking Committee about the serious financial risks these programs presented.

Sub-prime loans were those financial institutes were forced to make to a certain percentage of those who did not currently to have the normal financial profile needed to guarantee that they would be able to pay the loans off. They were ARM loans that started out with extremely low interest and payments. When the interest and payments would approach the ARM up date, they would just refinance with another sub-prime and when doing so they found out that they could also take out equity that had accrued from increasing home prices. When the home prices then started to fall, they could no longer take out cash and if the loan went upside down, they owed more than the property was worth, they could not fully refinance the old loan.

The trolls have no idea what they're talking about. Slim is correct. Google Barney Frank + Fannie Mae & Freddie Mac.

[Copier Addict]

Re: The economy comes crashing down

Bailed-out banks gave millions in exec bonuses, NY AG report shows - ABC News

[Copier Addict]

Re: The economy comes crashing down

TARP Bonuses

[BillyCarpenter]

Re: The economy comes crashing down

Don't you hate trolls? I mean, they have no thoughts of their own. They post a link and that's it. When the government forces lenders to make loans to poor people, things go terribly wrong. That's not to say that the banks don't bear some responsibility. Anyway, the trolls worship at the altar of Big Government and I have no interest in wasting my time with them. Ever.

[Copier Addict]

Re: The economy comes crashing down

Don't you hate trolls? I mean, they have no thoughts of their own. They post a link and that's it. When the government forces lenders to make loans to poor people, things go terribly wrong. That's not to say that the banks don't bear some responsibility. Anyway, the trolls worship at the altar of Big Government and I have no interest in wasting my time with them. Ever.

Don't you hate it when the high and mighty gatekeeper simply disregards facts and continues to push his own narrative with the sole purpose of calling someone a troll.
It's time to fire the high and mighty gatekeeper. (Billy).

[bsm2]

Re: The economy comes crashing down

Don't you hate trolls? I mean, they have no thoughts of their own. They post a link and that's it. When the government forces lenders to make loans to poor people, things go terribly wrong. That's not to say that the banks don't bear some responsibility. Anyway, the trolls worship at the altar of Big Government and I have no interest in wasting my time with them. Ever.

Your whole state can't survive without Federal Aid Billy Boy

Stop being a Whining little Bitch

Biden BOOMM Baby

[slimslob]

Re: The economy comes crashing down

Here We Go Again: Key Inflation Metric Sees Major Spike - Truth Press

[bsm2]

Re: The economy comes crashing down

Here We Go Again: Key Inflation Metric Sees Major Spike - Truth Press

Blame Trump Administration

[Phil B.]

Re: The economy comes crashing down

Blame Trump Administration

Oh yeah right.
Biden has been office for 2 years though.
" 'Splain that Lucy ".

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