GO ON THE RECORD on the TAX Bill!

[Lobato1]

Gramm, Leach, and Billey were all 3 Republicans. 1 Senate Democrat voted for the bill. Clinton signed it, thus reestablishing his conservative credentials.

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Can anyone please explain exactly WTF did the Housing bubble "MORTGAGE" crisis of 2006 that resulted in the financial crash on August 2008, have to do with Prez. Clinton having removed from the Glass-Stegall Banking Act of 1933 the separation between investment banking that issued securities & commercial banks that accepted deposits including subsequently & logically, also removing the conflict of interest regulation between investment bankers & commercial bankers since these two entities would be working together????
.
Sad.
.
My Reference:

http://www.davemanuel.com/fact-check-did-bill-clinton-repeal-the-glass-steagall-act-120/

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Best Regards
Lobato1
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[Lobato1]

1) I don't have cable or satellite TV. But your Fox News fan status is noted.
2) You keep babbling about a mortgage crisis. Very myopic. We had a FINANCIAL crisis. Pay attention.

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Huh? Me babbling?
BS
In my style of debating I have given my usual url references to each & all of my contentions & not one single one of them have you refuted with one single valid url reference of your own but instead have opted to reply with incoherent imbecilities.
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Does that tell you anything of yourself?
No?
I didn't think so.
Sad.
Best Regards
Lobato1
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[Deleted member 21794]

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Huh? Me babbling?
BS
In my style of debating I have given my usual url references to each & all of my contentions & not one single one of them have you refuted with one single valid url reference of your own but instead have opted to reply with incoherent imbecilities.
.
Does that tell you anything of yourself?
No?
I didn't think so.
Sad.
Best Regards
Lobato1
.
.

Here, let's try it this way. So you think it was those damn interest rate hikes and not stated income loans, other stupid loans and overleveraged companies that caused the financial collapse? It was those damn Republican interest rate hikes! So tell me.... why didn't we have an even worse financial collapse when Jimmy Carter blessed us with 21% interest rates? Or do you need a link?

 

[Lobato1]

Here, let's try it this way. So you think it was those damn interest rate hikes and not stated income loans, other stupid loans and overleveraged companies that caused the financial collapse? It was those damn Republican interest rate hikes! So tell me.... why didn't we have an even worse financial collapse when Jimmy Carter blessed us with 21% interest rates? Or do you need a link?

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Huh? 21%???
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English ain't your 1st language (& pardon my Texan), & you didn't understand the part of the Bushistas having "LOWERED" the prime rate to practically "NOTHING" & promoting the ARM (Adjustable Rate Mortgage), allowing buyers with exceptionally low credit ratings to buy homes with the ARM at around >4% in spite of ballooning prices.
.
But then to pay for the Iraq war cost they raised the Mortgage Rate 18 consecutive interest rates increases in 27 months that burst the Housing bubble because those with poor credit ratings found themselves unable to pay for the ARM when it jumped much, much higher than >>10%.
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Once the housing bubble burst, the Bushistas in a last desperate effort brought the prime rate to it's previous ultra low, low levels but by that time it was to late because people that had bought into this bubble defaulted on their payments since their homes actual values were far less than what they had bought into.
.
BTW:
In the following article half a year before August 2008 they were putting the fault squarely on the Administration's policies that in general terms says:

"Greenspan & the Fed are to blame.


The US federal reserve's desperate attempts to keep America's economy from sinking are not working although interest rates have been slashed & the Fed has lavished liquidity on cash-strapped banks, the crisis is deepening.


To a large extent, the US crisis was actually made by the Fed... One main culprit was none other than Alan Greenspan..


Today's financial crisis has its immediate roots in 2001, amid the end of the Internet boom & the shock of the September 11 terrorist attacks. It was at that point that the Fed turned on the monetary spigots to try to combat an economic slowdown. The Fed pumped money into the US economy & slashed its main interest rate - the Federal Funds rate - from 3.5% in August 2001 to a mere 1% by mid-2003. The Fed held this rate too low for too long.


Monetary expansion generally makes it easier to borrow, & lowers the costs of doing so, throughout the economy. It also tends to weaken the currency & increase inflation. All of this began to happen in the US.


What was distinctive this time was that the new borrowing was concentrated in housing. It is generally true that lower interest rates spur home buying, but this time, as is now well known, commercial & investment banks created new financial mechanisms to expand housing credit to borrowers with little creditworthiness. The Fed declined to regulate these dubious practices. Virtually anyone could borrow to buy a house, with little or even no down payment, & with interest charges pushed years into the future. ..."

​

My Reference:
http://economistsview.typepad.com/economistsview/2008/03/did-greenspan-c.html
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Best Regards
Lobato1
.
.

 

[Constitutional Sheepdog]

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Huh? 21%???
.
English ain't your 1st language (& pardon my Texan), & you didn't understand the part of the Bushistas having "LOWERED" the prime rate to practically "NOTHING" & promoting the ARM (Adjustable Rate Mortgage), allowing buyers with exceptionally low credit ratings to buy homes with the ARM at around >4% in spite of ballooning prices.
.
But then to pay for the Iraq war cost they raised the Mortgage Rate 18 consecutive interest rates increases in 27 months that burst the Housing bubble because those with poor credit ratings found themselves unable to pay for the ARM when it jumped much, much higher than >>10%.
.
Once the housing bubble burst, the Bushistas in a last desperate effort brought the prime rate to it's previous ultra low, low levels but by that time it was to late because people that had bought into this bubble defaulted on their payments since their homes actual values were far less than what they had bought into.
.
BTW:
In the following article half a year before August 2008 they were putting the fault squarely on the Administration's policies that in general terms says:

"Greenspan & the Fed are to blame.


The US federal reserve's desperate attempts to keep America's economy from sinking are not working although interest rates have been slashed & the Fed has lavished liquidity on cash-strapped banks, the crisis is deepening.


To a large extent, the US crisis was actually made by the Fed... One main culprit was none other than Alan Greenspan..


Today's financial crisis has its immediate roots in 2001, amid the end of the Internet boom & the shock of the September 11 terrorist attacks. It was at that point that the Fed turned on the monetary spigots to try to combat an economic slowdown. The Fed pumped money into the US economy & slashed its main interest rate - the Federal Funds rate - from 3.5% in August 2001 to a mere 1% by mid-2003. The Fed held this rate too low for too long.


Monetary expansion generally makes it easier to borrow, & lowers the costs of doing so, throughout the economy. It also tends to weaken the currency & increase inflation. All of this began to happen in the US.


What was distinctive this time was that the new borrowing was concentrated in housing. It is generally true that lower interest rates spur home buying, but this time, as is now well known, commercial & investment banks created new financial mechanisms to expand housing credit to borrowers with little creditworthiness. The Fed declined to regulate these dubious practices. Virtually anyone could borrow to buy a house, with little or even no down payment, & with interest charges pushed years into the future. ..."

​

My Reference:
http://economistsview.typepad.com/economistsview/2008/03/did-greenspan-c.html
.
Best Regards
Lobato1
.
.

Febuary 15 is to date the tax cuts kick in what will you do then when people start having more of their earned money in their paycheck
Your argument will be cooked as red as a lobster. lol

 

[Deleted member 21794]

.
Huh? 21%???
.
English ain't your 1st language (& pardon my Texan), & you didn't understand the part of the Bushistas having "LOWERED" the prime rate to practically "NOTHING" & promoting the ARM (Adjustable Rate Mortgage), allowing buyers with exceptionally low credit ratings to buy homes with the ARM at around >4% in spite of ballooning prices.
.
But then to pay for the Iraq war cost they raised the Mortgage Rate 18 consecutive interest rates increases in 27 months that burst the Housing bubble because those with poor credit ratings found themselves unable to pay for the ARM when it jumped much, much higher than >>10%.
.
Once the housing bubble burst, the Bushistas in a last desperate effort brought the prime rate to it's previous ultra low, low levels but by that time it was to late because people that had bought into this bubble defaulted on their payments since their homes actual values were far less than what they had bought into.
.
BTW:
In the following article half a year before August 2008 they were putting the fault squarely on the Administration's policies that in general terms says:

"Greenspan & the Fed are to blame.


The US federal reserve's desperate attempts to keep America's economy from sinking are not working although interest rates have been slashed & the Fed has lavished liquidity on cash-strapped banks, the crisis is deepening.


To a large extent, the US crisis was actually made by the Fed... One main culprit was none other than Alan Greenspan..


Today's financial crisis has its immediate roots in 2001, amid the end of the Internet boom & the shock of the September 11 terrorist attacks. It was at that point that the Fed turned on the monetary spigots to try to combat an economic slowdown. The Fed pumped money into the US economy & slashed its main interest rate - the Federal Funds rate - from 3.5% in August 2001 to a mere 1% by mid-2003. The Fed held this rate too low for too long.


Monetary expansion generally makes it easier to borrow, & lowers the costs of doing so, throughout the economy. It also tends to weaken the currency & increase inflation. All of this began to happen in the US.


What was distinctive this time was that the new borrowing was concentrated in housing. It is generally true that lower interest rates spur home buying, but this time, as is now well known, commercial & investment banks created new financial mechanisms to expand housing credit to borrowers with little creditworthiness. The Fed declined to regulate these dubious practices. Virtually anyone could borrow to buy a house, with little or even no down payment, & with interest charges pushed years into the future. ..."

​

My Reference:
http://economistsview.typepad.com/economistsview/2008/03/did-greenspan-c.html
.
Best Regards
Lobato1
.
.

You are completely lost. Let's try a redirect. You babbled about Republicans and interest rates causing the financial meltdown. So why was there no meltdown during the Carter years and 21% interest rates?

Again, do some research on Gramm-Leach-Bliley.

I'm afraid I can't offer any more tutoring Move along now.

 

[Lobato1]

You are completely lost. Let's try a redirect. You babbled about Republicans and interest rates causing the financial meltdown. So why was there no meltdown during the Carter years and 21% interest rates?

Again, do some research on Gramm-Leach-Bliley.

I'm afraid I can't offer any more tutoring Move along now.

For starters you just posting unadulterated BS you know nothing about because you are clueless & have the wrong guy with that 21% interest rate.
.
Sad.
.
Best Regards

Lobato1
.

 

[Lobato1]

You are completely lost. Let's try a redirect. You babbled about Republicans and interest rates causing the financial meltdown. So why was there no meltdown during the Carter years and 21% interest rates?

Again, do some research on Gramm-Leach-Bliley.

I'm afraid I can't offer any more tutoring Move along now.

.
Oh yeah, one last thought about your Gramm-Leach-Bliley:
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Explain exactly WTF did the Housing bubble "MORTGAGE" crisis of 2006 that resulted in the financial crash on August 2008, have to do with Prez. Clinton having removed from the Glass-Stegall Banking Act of 1933 the separation between investment banking that issued securities & commercial banks that accepted deposits including subsequently & logically, also removing the conflict of interest regulation between investment bankers & commercial bankers since these two entities would be working together????
.
Now, you move along because you just keep posting unadulterated BS you know nothing about.
.
Sad.
.
My Reference:
https://www.davemanuel.com/fact-check-did-bill-clinton-repeal-the-glass-steagall-act-120/
.
.
Best Regards
Lobato1
.
.

 

[Deleted member 21794]

For starters you just posting unadulterated BS you know nothing about because you are clueless & have the wrong guy with that 21% interest rate.
.
Sad.
.
Best Regards

Lobato1
.View attachment 38244

Wow, you got me. Jimmy Carter left us with interest rates at just 20%, not 21%. What a game changer! So again, why no financial collapse then, when interest rates were far higher than during the Bush administration? Oh and did you manage to get up to speed on Bill Clinton signing major banking deregulation? Let me guess... that had NOTHING to do with any financial collapse, right?

Sheeesh you people...

Best belly laughs at you,
The Thinker

 

[Deleted member 21794]

.
Oh yeah, one last thought about your Gramm-Leach-Bliley:
.
Explain exactly WTF did the Housing bubble "MORTGAGE" crisis of 2006 that resulted in the financial crash on August 2008, have to do with Prez. Clinton having removed from the Glass-Stegall Banking Act of 1933 the separation between investment banking that issued securities & commercial banks that accepted deposits including subsequently & logically, also removing the conflict of interest regulation between investment bankers & commercial bankers since these two entities would be working together????
.
Now, you move along because you just keep posting unadulterated BS you know nothing about.
.
Sad.
.
My Reference:
https://www.davemanuel.com/fact-check-did-bill-clinton-repeal-the-glass-steagall-act-120/
.
.
Best Regards
Lobato1
.
.

That makes no sense. Sleep it off and we can pick this up tomorrow.

 

[Lobato1]

Wow, you got me. Jimmy Carter left us with interest rates at just 20%, not 21%. What a game changer! So again, why no financial collapse then, when interest rates were far higher than during the Bush administration? Oh and did you manage to get up to speed on Bill Clinton signing major banking deregulation? Let me guess... that had NOTHING to do with any financial collapse, right?

Sheeesh you people...

Best belly laughs at you,
The Thinker

.
I'll repeat the question onece again:
Explain exactly WTF did the Housing bubble "MORTGAGE" crisis of 2006 that resulted in the financial crash on August 2008, have to do with Prez. Clinton having removed from the Glass-Stegall Banking Act of 1933 the separation between investment banking that issued securities & commercial banks that accepted deposits including subsequently & logically, also removing the conflict of interest regulation between investment bankers & commercial bankers since these two entities would be working together????
.
.
Best Regards
Lobato1
.

 

[Lobato1]

Wow, you got me. Jimmy Carter left us with interest rates at just 20%, not 21%. What a game changer! So again, why no financial collapse then, when interest rates were far higher than during the Bush administration? Oh and did you manage to get up to speed on Bill Clinton signing major banking deregulation? Let me guess... that had NOTHING to do with any financial collapse, right?

Sheeesh you people...

Best belly laughs at you,
The Thinker

BTW
If you expand my graph the prime rate was around 16% at best in the Carter years & it went well over 21% in the Reagan years.
Best Regards
Lobato1
.

 

[Deleted member 21794]

BTW
If you expand my graph the prime rate was around 16% at best in the Carter years & it went well over 21% in the Reagan years.
Best Regards
Lobato1
.

Learn to tag a

BTW
If you expand my graph the prime rate was around 16% at best in the Carter years & it went well over 21% in the Reagan years.
Best Regards
Lobato1
.

Hih? Who was president at the beginning of 1980 when interest rates went to 20%??? My god man at least learn to read a graph!

 

[EatTheRich]

Wow, you got me. Jimmy Carter left us with interest rates at just 20%, not 21%. What a game changer! So again, why no financial collapse then, when interest rates were far higher than during the Bush administration? Oh and did you manage to get up to speed on Bill Clinton signing major banking deregulation? Let me guess... that had NOTHING to do with any financial collapse, right?

Sheeesh you people...

Best belly laughs at you,
The Thinker

Because the fundamentals of the economy were stronger, of course.

 

[EatTheRich]

.
Can anyone please explain exactly WTF did the Housing bubble "MORTGAGE" crisis of 2006 that resulted in the financial crash on August 2008, have to do with Prez. Clinton having removed from the Glass-Stegall Banking Act of 1933 the separation between investment banking that issued securities & commercial banks that accepted deposits including subsequently & logically, also removing the conflict of interest regulation between investment bankers & commercial bankers since these two entities would be working together????
.
Sad.
.
My Reference:

http://www.davemanuel.com/fact-check-did-bill-clinton-repeal-the-glass-steagall-act-120/

.
Best Regards
Lobato1
.
.

.

It helped inflate the credit bubble by inserting new money into the derivatives market, and created more exposure for big companies so when the crash came larger paper values were wiped out fast.

 

[Lobato1]

Learn to tag a


Hih? Who was president at the beginning of 1980 when interest rates went to 20%??? My god man at least learn to read a graph!

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Jesus H Christ man, not only are you clueless on economics not knowing that with high interest rates people don't borrow money to buy homes, but your eye sight is also gone.
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The graph shown below is the same one I previously posted with the same Y-axis at two percent intervals & the X-axis cut at exactly the year 1980 & note that in 1980 the rate was approximately 15.5%, but let's say 16% for the Carter 1980 year endings.
>
Best Regards
Lobato1.
.

 

[Lobato1]

It helped inflate the credit bubble by inserting new money into the derivatives market, and created more exposure for big companies so when the crash came larger paper values were wiped out fast.

\.
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BS
You do realize that the Obama Administration with all it's floury of regulations & reforms to fix a broken system (most of which Trump has now discarded), didn't touch one single word of the Gramm–Leach–Bliley Act huh?
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What is more, not even the Left Wing firebrand Senator Elizabeth Warren of Massachusetts elected in 2012 has never criticized the Gramm–Leach–Bliley Act because it had nothing to do with the Mortgage crisis.
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BOTTOM LINE
I will admit that the Gramm–Leach–Bliley Act BS has served the far right great thinker's et al. (& that haven't got a clue), as a talking point to then blame Clinton about the mortgage crisis.
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Sad.
.
Best Regards
Lobato1
.

,

 

[Dawg]

.
Can anyone please explain exactly WTF did the Housing bubble "MORTGAGE" crisis of 2006 that resulted in the financial crash on August 2008, have to do with Prez. Clinton having removed from the Glass-Stegall Banking Act of 1933 the separation between investment banking that issued securities & commercial banks that accepted deposits including subsequently & logically, also removing the conflict of interest regulation between investment bankers & commercial bankers since these two entities would be working together????
.
Sad.
.
My Reference:

http://www.davemanuel.com/fact-check-did-bill-clinton-repeal-the-glass-steagall-act-120/

.
Best Regards
Lobato1
.
.

.

easy...........Slick upped CRA and those that could less afford a home got homes they trashed and lost.........

 

[Dawg]

For starters you just posting unadulterated BS you know nothing about because you are clueless & have the wrong guy with that 21% interest rate.
.
Sad.
.
Best Regards

Lobato1
.View attachment 38244

I lived through Carters 21% interest.............no..........he has the right guy.......

You left nasty years back and returned more nasty, evidently........NO, your posting unadulterated bullshit...........

SAD

Like a Beached Whale

 

[Dawg]

That makes no sense. Sleep it off and we can pick this up tomorrow.

Hope he didn't fall in ocean and have to be dragged out again
with a wrecker