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Community Redevelopment Act vs Community Reinvestment Act? 1- Can someone provide me with a link of the Federal Redevelopment Act 2- Even if they meant Reinvestment Act, Can someone provide a link to how it began under Clinton and not in 1977, AND a link on how the Act was the primary cause of the housing bubble. *No blog or opinion links please, this is based off another answer. Thank-you BadWolf, while it does say FannieMae was experiencing pressure form the Clinton Admin and its stockholders it also states "In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans." Which still doesn't quite explain how an act in 1977 was the sole cause for economic breakdown in 2007-2008-now, I wont deny it playing a fraction of the problem, but it is the conservative argument for the whole mess. Not to mention the 77 Act forced no bank to give loans to people unable to pay. I am seriously trying to understand the argument from Con side.

Who is right - Greenspan or his one-time ideological comrades, the Austrian economists? http://mises.org/story/2936 http://www.rightsideadvisors.com/public/commentary.go/rsa/commentary/blog/20080414_130739_msg.html/The-Federal-Reserve-caused-the-Housing-Bubble.html http://www.cnbc.com/id/24016186

Need Proof Fannie and Freddie didn't cause the financial meltdown? Here it is: http://www.ritholtz.com/blog/2011/07/why-wallison-is-wrong-about-the-genesis-of-the-u-s-housing-crisis/ Nice quote. Note the references to REPUBLICAN lawmakers. "Wallison [blamed F&F for the meltdown], of course, wrote a lonely dissent from both the Financial Crisis Inquiry Commission majority report and from his fellow Republican commissioners, in which he alone blamed the global financial crisis on U.S. affordable housing policies. This argument is clearly contradicted by the facts, including the following: • Parallel bubble-bust cycles occurred outside of the residential housing markets (for example, in commercial real estate and consumer credit). • Parallel financial crises struck other countries, which did not have analogous affordable housing policies • The U.S. government’s market share of home mortgages was actually declining precipitously during the housing bubble of the 2000s. These facts are irrefutable." Apparently, some cannot read and respond to facts. Just change the subject and hope no one notices.

Are any of you on the left actually aware of what caused the financial crisis? Because it sure doesn't look like it from what I've been reading. Clinton's administration set rules in 1998 that allowed Fannie Mae and Freddie Mac to fulfill their obligations to provide affordable housing by purchasing subprime mortgages, thus adding more than $1 trillion in junk mortgages to their portfolio which ultimately led to the financial collapse. The Bush administration was one of the few parties trying to reign in the risky loans being made by GSE's like Fannie Mae and Freddie Mac. They tried to introduce a new regulatory body in 2003 that would have prevented the housing bubble. Again, in 2005 5 Republican Senators introduced the Federal Housing Enterprise Regulatory Reform Act that would have restricted risky loans given out by Fannie and Freddie. All Republicans on the Senate Banking Committee voted for it, but it was killed when no Democrats would vote to limit debate on the bill so a vote could take place. Bush's financial advisers saw a problem with GSE's keeping mortgage rates artificially low accompanied by risky loans and tried to stop it. Yet somehow, it is all Bush's mess that Obama is cleaning up, right? Chris Dodd (Chairman of the Senate Banking Committee), John Kerry (previous Presidential Candidate), and Barack Obama were the top 3 Senators receiving money from Fannie and Freddie. It seemed your boy Obama was happy to take their money and let them go on without regulations that even an evil Republican could see needed to be put in place. After all, Obama voted "present" during his opportunity to stand up against the impending financial crisis in 2005. So the way I see things is he is either too stupid to see what G.W. Bush saw coming, or he was too blinded by his ideology to see or admit he was wrong. Either way, the man is a fool http://online.wsj.com/article/SB122403045717834693.html http://www.noquarterusa.net/blog/5478/obama-votes-present-on-mortgage-reform/#more-5478 http://hotair.com/archives/2008/09/17/mccains-attempt-to-fix-fannie-mae-freddie-mac-in-2005/ http://en.wikipedia.org/wiki/Federal_takeover_of_Fannie_Mae_and_Freddie_Mac#Previous_attempts_for_GSE_reform Wow Dave, how did you come to that conclusion? Hanging out with OWS peeps?

Do you agree that oil prices have been manipulated? Several months back when oil was $140 a barrel I stated that people will ultimately go to jail when the American Public realizes prices were being manipulated. At that time, most people on this blog claimed the demand justified and was coming from China and other emerging markets. Like the housing bubble I didn't believe it was sustainable especially after the Olympics were over and if Obama won the presidency. I thought oil should be half of what it was. Now, I believe it may even go to $40 if OPEC doesn't cut production again trying to prop up prices - which in itself is manipulation. I believe the fact oil is under $60 when demand since July is only off 20% is by definition, manipulation. Many of my friends believe redemptions are forcing hedge funds to sell oil to these levels. What do you think?

Why can't Japan's ruling party, the LDP, learn that "stimulus" and bailouts don't work? http://blog.mises.org/archives/009850.asp In the last 8 months, the latest Japanese Prime Minister, Taro Aso, of the LDP (Liberal Democratic Party), the ruling party of Japan since the end of WWII (with the exception of a few months in the 90s when all the opposition parties formed a coalition to temporarily oust them from power, but even then, it was still the largest party in the Japanese legislature), has passed 3 more "stimulus" packages totaling more than 5% of Japan's GDP. Japan has already had 2 Lost Decades since their housing bubble collapsed in the 1980s. They have passed bailout after bailout and "stimulus" after "stimulus" to no avail. Yet, for some reason, their government has yet to learn its lesson and seems intent on ensuring that Japan has a 3rd Lost Decade.

can someone help me come up witha comeback for a conservative guy i'm arguing with? i said that clinton had a surplus and bush ruined everything (because i read that on someone's blog) then he wrote this: "the surplus was right at the end of the dot.com bubble. whoever was pres after clniton would have had the same problem to deal with. and clinton closed a lot of military bases and greatly cut military spending. that was easy to do for a budget, but for who's benefit? many felt those cuts were done for political purposes. he knew that the nat'l defense would have to be built back up by the next pres. and the lack of defense spending under clinton gave the power to the terrorist. we had us embassy bombings, uss cole, just to name a couple. so the surplus went to the war. to have peace, a military presence is needed. clinton didn't have a war to deal with and he cut a ton of military spending. smart guy? nope. he was the one whose policies advocated deregulation. he started the snowball and it has kept rolling ever since. and i hope you're not confusing the BUDGET surplus and national DEBT. this is very important to understand the difference and i don't think you do. we've had a nat'l deficit for over a century without surplus. the last time we had a SUSTAINED budget surplus was when conservative repubs ran congress. (newt was the speaker of the house)." how do i come back at him to make him look bad? if you aren't going to help me then DONT ANSWER@!!~!!!!!

can you help me with a comeback for a conservative guy i'm arguing with? i said clinton made a lot of surplus for the states and bush ruined everything (b/c i read it on a blog) and he cam back with this: the surplus was right at the end of the dot.com bubble. whoever was pres after clniton would have had the same problem to deal with. and clinton closed a lot of military bases and greatly cut military spending. that was easy to do for a budget, but for who's benefit? many felt those cuts were done for political purposes. he knew that the nat'l defense would have to be built back up by the next pres. and the lack of defense spending under clinton gave the power to the terrorist. we had us embassy bombings, uss cole, just to name a couple. so the surplus went to the war. to have peace, a military presence is needed. clinton didn't have a war to deal with and he cut a ton of military spending. smart guy? nope. he was the one whose policies advocated deregulation. he started the snowball and it has kept rolling ever since. and i hope you're not confusing the BUDGET surplus and national DEBT. this is very important to understand the difference and i don't think you do. we've had a nat'l deficit for over a century without surplus. the last time we had a SUSTAINED budget surplus was when conservative repubs ran congress. (newt was the speaker of the house). how do i come back at him to make him look bad? if you don't want to answer my question, then DONT ANSWER!

Hello? Is my friend going nuts? Seriously...? He just posted something on the blog. I knew he was depressed for awhile a few months back. Do you think it's weird? What's your first reaction? I doubt anyone will read through, just pick a couple of lines and read. The rest is all the same - full of randomness. Roads. Repeat one hundred times. Reverse head and shoulder. Dried Wells. Unsilenced phones. Dead birds. Forceful tears. Anatomy. Naked shorts. Sanity. Insanity. Rewind bad tapes. Sunken hearts. Suppressed implosion. False hope. Electronic emotion. Weirdo. Circuit to neurons. Waiting the press the busy tones. Angst. Three second memory. Insomnia. Overnight cold and flu. Red arrows. The noose. Recklessness. Cracked nails. Swollen human muzzle. Avoidance. Linguistic ventilation. Doors slammed. Heavy footsteps. Soiled Chucks. Smeared suede. Biological resuscitation. Skipped dosage. Red pen. Out of inks. Out of spikes. Itchy air. Infinite entropy. Yellow plush. Sudden gravitation. Flipped half days. Rootless grass. Classic. Immune to boredom. Overlapped beats. Voices inside your head. Air so heavy. Sinks a butterfly. Grace Potter. Schizophrenic double life. Hate. Sandwich. Love. What the ****. Stop reading. For you. Not for you. Third person. For thyself. .....Niche for indie kids. Fond of exclusivity over quality. Manipulated hippocampus. Congested dictionary. Blind rambling. Underestimated nicety. Naive assumptions. Sick. Ditched. Dirty Sheets. Unnecessary roundtrip. Friday. Mother. Redundant preventive measures. Ridiculous adjective. Absurd nouns. Cymbal crashing. Superficial appreciation. Undermined talents. The Wrights. Female wolf. Made up appointments. AWOL. Placebo effect. Gunners. Live orchestra. Faux pas. Shut up listener. Clap with your hearts. Poor recording. Sour times. Deduct three stars. What do you want? Burst the bubble. Thy scared? Dawn publication. Dusk meditation. Thirteen divided by two. Hourglass. Calculated fasting. Reconstructed cranial stimulation. Shatter the glass. Slicing down your cheeks. Blood melting in the undertow. Hacking the system. Seeking the loopholes. Stretching your lips. Showing your teeth. Demonstrating your ability to bite. Beat up his Chihuahua. Shitting on the carpet. Cult. Pulp Fiction. Rockability. Twenties jazziness. Gibbonsesque vibrato. Three pitches in as many lines. Maggot in a house of flies. Twenty-four-seven air conditioning. Aqua. Beta. Zeta. Treble metal. Indigo fades. Manufactured crisp. Ants navigating the forest. Stilted legs. Squished but juiceless. Terrible breath. Unsanitary hideout. Throbbing puking reflex. Hugging your plushies. Hiding under your blankie. Burying the uncertainty. Talking to a face, that never changes. Bucked teeth. Watermelon mouth. Pink flip-flop. Wired ears. Detachable head. Elongated spines. Gloves over bones. Wiping your salty windows. Speedboats through the epidermis. Dessicated wakes, of tears. The Unbearable Lightness of Being. Unfinished novel. One-quarter facts, three-quarters fiction. Excess baggage. Gross consumerism. Men eat man. Darwinian instinct. Disguised bestiality. Riot prediction. The Kaiser. Third World War. Friendly pretense. Dismantling the arsenal. Hopelessly romantic. Ethical politician. Conscientious lawyers. Idealistic physicians. Lowly peasants. Pinnacle of power. The Queen. Institutional worker bees. Congratulations. Thoust read through the lines. Fact remains: you are a fucking idiot. No apologies. Everything means nothing. Now go back, to your kaleidoscopic La-La Land.