Political Comics, Memes, Jokes, etc.

[fredtoast]

(07-19-2016, 02:11 AM)Brownshoe Wrote: He's the one who caused the housing market to bubble up and crash. He was also involved in repealing parts of the Glass-Steagall act on bankers.

Wrong and wrong.

Glass Steagall was repealed when REPUBLICANS controlled both house of congress. The legislation that repealed Glass Steagle, the Gramm–Leach–Bliley Act, was named after three REPUBLICAN congressmen who drafted it

Is this supposed to be some kind of joke? Is that why you are posting it in this thread?

[Brownshoe]

(07-19-2016, 02:21 AM)fredtoast Wrote: Wrong and wrong.

Glass Steagall was repealed when REPUBLICANS controlled both house of congress.  The legislation that repealed Glass Steagle, the Gramm–Leach–Bliley Act, was named after three REPUBLICAN congressmen who drafted it

Is this supposed to be some kind of joke?  Is that why you are posting it in this thread?

http://www.presidency.ucsb.edu/ws/index.php?pid=56922#axzz1aV0pqgub

Hmmm... He seems pretty happy about it. You know since he lead the democratic push for it.

And how is it wrong that he caused the housing bubble? I'm pretty sure he's the one who signed it into law.

[fredtoast]

(07-19-2016, 02:25 AM)Brownshoe Wrote: http://www.presidency.ucsb.edu/ws/index.php?pid=56922#axzz1aV0pqgub

Hmmm... He seems pretty happy about it. You know since he lead the democratic push for it.

And how is it wrong that he caused the housing bubble? I'm pretty sure he's the one who signed it into law.

Silly me to suggest that Republican might be to blame for legislation they wrote and passed.  Never realized Clinton had such control over them.

And if it was so terrible then why did Bush and his Republican controlled Congressnot repeal it at some point?

Finally, the repeal of Glass Steagle did not cause the collapse of the housing bubble or the economic crash that followed.

[Brownshoe]

By signing the the affordable housing law. Making Fannie Mae and Freddie Mac buy a lot more "bad" loans.

[Brownshoe]

(07-19-2016, 02:36 AM)fredtoast Wrote: Silly me to suggest that Republican might be to blame for legislation they wrote and passed.  Never realized Clinton had such control over them.

And if it was so terrible then why did Bush and his Republican controlled Congressnot repeal it at some point?

Finally, the repeal of Glass Steagle did not cause the collapse of the housing bubble or the economic crash that followed.

It was a bipartisan bill. It wasn't just the Republicans. Clinton was a big player in that role, and that's what I was pointing out.

Glass-Steagle was a big part of the collapse.

[fredtoast]

(07-19-2016, 02:40 AM)Brownshoe Wrote: By signing the the affordable housing law. Making Fannie Mae and Freddie Mac buy a lot more "bad" loans.

Fannie and Freddie did not cause the housing bubble. The housing bubble rose the fastest when Freddie and Frannie were dropping in market share. During the peak rise of the housing bubble ('03 -'06) the market share of Wall Street private lenders subprime mortgages rose from 10% to 40%.

And there was no legislation that "forced" these private lenders to issue sub prime mortgages. They loved doing it because they took the profit in up front costs and then sold off the risk in derivative investments.

[fredtoast]

(07-19-2016, 02:46 AM)Brownshoe Wrote: Glass-Steagle was a big part of the collapse.

No it was not.

[Brownshoe]

(07-19-2016, 03:00 AM)fredtoast Wrote: Fannie and Freddie did not cause the housing bubble.  The housing bubble rose the fastest when Freddie and Frannie were dropping in market share.  During the peak rise of the housing bubble ('03 -'06) the market share of Wall Street private lenders subprime mortgages rose from 10% to 40%.

And there was no legislation that "forced" these private lenders to issue sub prime mortgages.  They loved doing it because they took the profit in up front costs and then sold off the risk in derivative investments.

They were forced to buy 50% of mortgages from people at or below the median income in their communities. Meaning they had to buy more bad loans. That's why they were dropping in market share during the peak. They loved doing it because they knew the government was backing them.

[Brownshoe]

(07-19-2016, 03:01 AM)fredtoast Wrote: No it was not.

I guess making the banks bigger had nothing to do with it. Especially when the banks needed a crap ton of money in the bailout. Wasn't it almost 1 trillion?

[JustWinBaby]

(07-19-2016, 03:50 AM)Brownshoe Wrote: They were forced to buy 50% of mortgages from people at or below the median income in their communities. Meaning they had to buy more bad loans. That's why they were dropping in market share during the peak. They loved doing it because they knew the government was backing them.

You'll have to excuse Fred...he lives in a bubble where no rational thought nor accepted fundamentals of economics exist.

[GMDino]

[GMDino]

[Bengalzona]

[fredtoast]

(07-19-2016, 03:50 AM)Brownshoe Wrote: They were forced to buy 50% of mortgages from people at or below the median income in their communities. Meaning they had to buy more bad loans. That's why they were dropping in market share during the peak.

How could making them buy MORE subprime loans make their market share go DOWN?


The Financial Crisis Inquiry Commission issued three concluding documents in January 2011: 1) The FCIC "conclusions" or report from the six Democratic Commissioners; 2) a "dissenting statement" from the three Republican Commissioners; and 3) a second "dissenting statement" from Commissioner Peter Wallison. Both the Democratic majority conclusions and Republican minority dissenting statement, representing the views of nine of the ten commissioners, concluded that government housing policies had little to do with the crisis. The majority report stated that Fannie Mae and Freddie Mac "were not a primary cause of the crisis" and that the Community Reinvestment Act "was not a significant factor in subprime lending or the crisis.

[Bengalzona]

(07-18-2016, 05:07 PM)Rotobeast Wrote: Actually, it would only have taken two.

One at each end of the parade route, blocking any vehicle traffic from the planned foot traffic.

Are you saying the NRA is wrong, sir?!?!?!?!

Well? Are you?!?!?!?!?!

[fredtoast]

Sorry for the debate that took over this thread. If I want to discuss it any more I will start a new thread.

[Bengalzona]

(07-19-2016, 12:16 PM)fredtoast Wrote: Sorry for the debate that took over this thread.  If I want to discuss it any more I will start a new thread.

Your confession has been received, my son.

As an act of contrition, you need to recite four "Hail Larry's" and post an inane political meme on a current topic. 

[*PhilHos*]

(07-19-2016, 12:27 PM)Bengalzona Wrote: Your confession has been received, my son.

As an act of contrition, you need to recite four "Hail Larry's" and post an inane political meme on a current topic. 

I did a Google search for "inane political meme" and this was the very first hit:

[Rotobeast]

(07-19-2016, 12:12 PM)Bengalzona Wrote: Are you saying the NRA is wrong, sir?!?!?!?!

Well? Are you?!?!?!?!?!

Yes !

And I'd like to add that the NRA sucks so hard that Neil deGrade Tyson struggles to describe the amount of gravity created by their massive suckatude.

[BmorePat87]