Maxine Waters envisions power position, vows revenge on financial industry [tr]

BizPacReview ^ | Frieda Powers | November 1, 2018

[kanawa]

The Community Reinvestment Act was a ticking time bomb doomed to explode

[Mr. Blond]

Not exactly a refutation though. In generalities, we blame the mortgage crisis as the main driver, we know the Democrats were responsible going all the way back to Carter. Didn’t care to write out an essay on the matter, but I do appreciate your thoughtful insight.

[Arthur Wildfire! March]

“Your timeline paints McCain as some sort of hero. He was not, he competed with Obama in 2008 on how many new regulations to impose.”

Cheap shot — during an election.

“Furthermore the timeline doesn’t mention the huge number of liar loans bundled into securities.”

It exposed the root problem as I posted.

“A bubble is a bubble.”

Good GRIEF!

Bubbles ‘just happen’?

You have some freaky angle here. I don’t know what it is, but you exposed yourself.

[palmer]

Bubbles don't just happen, historically they are mostly they are created by Fed policy, in this case creating demand for speculative low interest securities. The Community Reinvestnent Act didnt help. There was a incentive to flip houses even at the low end because the CRA would help supply buyers. Then those flippers move to the middle range, make more money, then drive up the high end.

It all works great until the bubble pops. There are many reasons for the bubble including some that McCain sincerely thought he was going to reform (Fannie/Freddie out of control). But it was much too late at that point. As for who popped the bubble, it was going to pop. There was going to be Lehman types of failures. It was inevitable. The only thing that could potentially be manipulated is the timing.

[central_va]

Stupidity is the play ground of evil....

[laplata]

That’s sure the truth.