tag:blogger.com,1999:blog-3098264341625381422.post7783200803277694623..comments2024-03-18T17:01:07.165-07:00Comments on The Provocateur: Countering the Liberal Meme on the Mortgage Crisismike volpehttp://www.blogger.com/profile/02999118519606254362noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-3098264341625381422.post-8343968590702218332008-10-10T14:33:00.000-07:002008-10-10T14:33:00.000-07:00I think liberals will say that it was Phil Gramm t...I think liberals will say that it was Phil Gramm that lead the charge for this bill and conveniently forget that Bill Clinton passed it. That's one of many reasons why blaming deregulation is asinine. <BR/><BR/>Bush has plenty of blame but it isn't deregulation but allowing a total lack of enforcement. Remember how for years, he proclaimed that home ownership was at all time highs in his Presidency, well that's because of fraud. He looked the other way while the fraud went on. That is what he is responsible for, but liberals looked the other way as well.mike volpehttps://www.blogger.com/profile/02999118519606254362noreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-76311942966817296472008-10-10T14:03:00.000-07:002008-10-10T14:03:00.000-07:00One question, Mike, and it's not merely rhetorical...One question, Mike, and it's not merely rhetorical: <BR/><BR/>You say that the only example of deregulation the liberals can point to is the '99 law. But how does that support BHO's claim that this crisis was the result of Bush's failed policies over the last 8 years? Bush wasn't president until 2001. If the '99 law was that central to the problems we're facing today -- which I understand you dispute -- then aren't the liberals pointing the finger at themselves?Conrad Bibbyhttps://www.blogger.com/profile/05422935506611755825noreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-86582825177908368322008-10-10T12:21:00.000-07:002008-10-10T12:21:00.000-07:00Certainly, the media have been fueling inaccurate ...Certainly, the media have been fueling inaccurate information about the financial crisis. But neither party is innocent. http://dissentingjustice.blogspot.com/2008/10/bah-humbug-both-parties-are-guilty-with.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-76431880912254707552008-10-10T11:48:00.000-07:002008-10-10T11:48:00.000-07:00That's funny, Todd, for two reasons. First, you ju...That's funny, Todd, for two reasons. First, you just got done complimenting me and telling me how great my article was but that was before I dared to disagree with you. Second of all, you claim I am a liberal. If you read any of my site you would know I am quite the Conservative. Though, I am also a mortgage broker and thus, I don't need anyone's talking points to tell me how all of this got started because I was there. <BR/><BR/>Sub prime didn't explode because ACORN forced banks to do risky loans. That is nonsense that pundits have discovered, most of which hadn't heard of fannie mae/freddie mac or the Community Reinvestment Act until a couple of months ago.<BR/><BR/>Sub prime exploded because Greenspan dropped rates so excessively in 2001-2003 that banks became flooded with cash, which they borrowed from the Fed and each other. Since real estate was moving, and it was the only thing moving at the time, the banks put all this new cash in real estate, or mortgages. Only they had so much new money, that they had more money than loans. As such, new loans were created and the monster formed.mike volpehttps://www.blogger.com/profile/02999118519606254362noreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-90964429366594403032008-10-10T11:41:00.000-07:002008-10-10T11:41:00.000-07:00Ah, "folks like me."Coming from a liberal, that's ...Ah, "folks like me."<BR/><BR/>Coming from a liberal, that's patently funny, especially when "people like you" chide "people like me" for stereotyping.<BR/><BR/>Tell me again how you know that groups like ACORN played miniscule roles? How is this possible? Also, can you tell me the ratio of low income homeowners to foreclosures? I'm assuming this was all predatory lending, right? The amount of mortgage counseling, ESPECIALLY liberal funded mortgage counseling is mind-boggling. <BR/><BR/>I love how liberals, when dissent exists, either attempt to stifle opposing viewpoints OR, instead of backing up their claims with facts, resort to pre-school tactics, such as brow-beating, name calling, etc...ultimately tactics they purport to abhor.<BR/><BR/>Nice try guy. <BR/><BR/>I'm curious how you can support the notion proffered by your liberal heroes (e.g. Barney Frank, Chris Dodd, Barry Obama) that the mortgage industry was in good working order, yet it was REPUBLICANS (see: George Bush and John McCain) that called for regulation.todd anthonyhttps://www.blogger.com/profile/15868946673792961408noreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-69923135890220525752008-10-10T11:34:00.000-07:002008-10-10T11:34:00.000-07:00I'm not going to give a long answer however I debu...I'm not going to give a long answer however I debunk your assertion in my article debunking the conservative meme. The idea that this was created because ACORN pressured banks to do sub prime mortgages is absurd. ACORN's role in this mess is minute, and Conservatives inflated not for truth but for political partisanship. The CRA played a tiny role in this mess as well. All of these things I address in my piece attacking the Conservative meme of folks like you.mike volpehttps://www.blogger.com/profile/02999118519606254362noreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-49713948896758857742008-10-10T11:30:00.001-07:002008-10-10T11:30:00.001-07:00With that said, you get my vote :)Thanks,ToddWith that said, you get my vote :)<BR/><BR/>Thanks,<BR/>Toddtodd anthonyhttps://www.blogger.com/profile/15868946673792961408noreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-85000315549138474712008-10-10T11:30:00.000-07:002008-10-10T11:30:00.000-07:00I like your article, but I think too that you leav...I like your article, but I think too that you leave out the dangers of too much regulation. As you said, it wasn't deregulation that placed us in this mess. Instead, it was pressure from LEFT-WING groups like ACORN and La Raza on financial institutions to completely dismiss all good banking practices and lend money to those with bad credit histories and insufficient income to make mortgage payments. Sadly, a significant number of these people were minorities. Nevertheless, they couldn't pay their bills. The roots of the subprime lending crisis lies in the Carter-sponsored Community Reinvestment Act of 1977, then it's its retooled version supported by Bill Clinton.todd anthonyhttps://www.blogger.com/profile/15868946673792961408noreply@blogger.com