The Poly Forum Has Turned Into A Disgrace

[Acebb]

It was very unregulated. NINA loans, NINJA loans, ARM loans, no doc loans, it was literally walk in walk out mortgage lending. All because banks didn't care whether the borrower could pay the loan back because they would pass that risk off to Wall Street who would then pass that risk off to investors.

It was a nice little game with a lot of in between shenanigans that made it worse.

Hey, Barney Frank: The Government Did Cause the Housing Crisis

http://www.theatlantic.com/business/...crisis/249903/

‘The Financial Crisis Was the Result of Government Housing Policy’

http://reason.com/archives/2012/05/1...he-result-of-g

How The Government Caused The Mortgage Crisis

http://www.businessinsider.com/how-t...crisis-2009-10

A Government-Mandated Housing Bubble

http://www.forbes.com/2009/02/13/hou...ard_pinto.html

I guess now we are to believe that the government didn't regulate itself enough, or something.

 

[Acebb]

I love how the dumb fuck has to respond to a paper that mentions lending standards by saying "It supports my point!"

What a fucking idiot this little kid is.

 

[akphidelt]

I know, you can't.

Actually, it would be prudent to do if you're weren't some low income imbecile.

It's not prudent at all to have 6 months of non-interest bearing cash laying around. You have no financial knowledge whatsoever, lol.

 

[akphidelt]

I love how the dumb fuck has to respond to a paper that mentions lending standards by saying "It supports my point!"

What a fucking idiot this little kid is.

It talks about deteriorating lending standards causing the financial crisis... lol. That is my point.

 

[akphidelt]

Uh, no it didn't you lying dumb fuck

It says:

The study’s conclusion is that representative subprime originations for later vintages (namely, 2005, 2006 and 2007) would perform significantly better in 2001 and 2002 than representative originations of the same vintages (namely, 2001 and 2002). In light of this evidence, it is difficult to conclude that underwriting was central to the collapse of the subprime mortgage market.

And here is the study, you stupid fucking liar.

http://www.fdic.gov/bank/analytical/CFR/bank_research_conference/annual_9th/Sengupta_R.pdf

Fannie and Freddie jumped in the game late to protect their profits: Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.The vast majority of subprime mortgages — the loans at the heart of the global crisis — were underwritten by unregulated private firms. These were lenders who sold the bulk of their mortgages to Wall Street, not to Fannie or Freddie. Indeed, these firms had no deposits, so they were not under the jurisdiction of the Federal Deposit Insurance Corp or the Office of Thrift Supervision.

http://www.forbes.com/sites/stevedenning/2011/11/22/5086/

 

[Acebb]

It talks about deteriorating lending standards causing the financial crisis... lol. That is my point.

Except the paper

LOL

Says

LOL

Nothing like that happened

LOL

All of this was bolded for you

LOL

 

[Acebb]

It talks about deteriorating lending standards causing the financial crisis... lol. That is my point.

The paper says the exact opposite of your claim.

Dumbass.

 

[Acebb]

It's not prudent at all to have 6 months of non-interest bearing cash laying around. You have no financial knowledge whatsoever, lol.

Actually, it is. Which is why any and every financial advisor advises as such.

But since you are a low IQ, low income person, you wouldn't know that.

 

[MantisToboggan]

You are broke. That's why you lied again about not betting me. You know the money would be sent to a trusted mod so there would be no chance of you welching. Yet you made up a lame excuse. Just another rx pussy. Go back to poly thread....that way you can feel better about another beating.

What was the bet?

 

[akphidelt]

Uh, no it doesn't, idiot.

Naturally, it is widely believed that in order for this market to grow, it had to lower its standards and serve borrowers of even poorer credit quality. However, a recent study of more than nine million mortgages securitized and sold as subprime has found just the opposite

Sure it does...

Taken to its logical conclusion, it could also suggest that the underwriting framework for earlier vintages could help provide a sustainable framework for future subprime originations. In contrast, their results do not rule out the possibility that the design of subprime contracts could have been fundamentally flawed since the inception of this market

It's more blaming the policy on allowing the unregulated lending saying that subprime in it's nature means to reduce lending standards.

It is well documented that these loans from private mortgage lenders with no underwriting regulation were the root cause of the crisis along with the derivatives, swaps, and CDO's Wall Street created. But the root was the underwriting.

 

[akphidelt]

Actually, it is. Which is why any and every financial advisor advises as such.

But since you are a low IQ, low income person, you wouldn't know that.

Maybe Suze Orman talking to Taco Bell employees... but people who actually make money it is ridiculous to keep that much money not earning any interest. You still aren't understanding this. That's why you thought you can't liquidate liquid assets because you have no money to understand. You're broke, lmao!!!

 

[Acebb]

Why is the dipshit suggesting that having cash is "non interest bearing"

What a dope.

 

[Acebb]

Maybe Suze Orman talking to Taco Bell employees... but people who actually make money it is ridiculous to keep that much money not earning any interest.!

Except my cash is earning interest.

But of course since you're a low income, low IQ person, you wouldn't understand that.

 

[vitterd]

how you axe? I explained why I rule you to be a stiff

you can and will disagree, but youse can't axe how

I've honored any and all bets...here and everywhere....my entire life. Sorry that don't fit your little narrative but lucky for you it will probably just get lost in the shuffle of your list of wrong

 

[Acebb]

Sure it does...

Except not "ruling out the possibility" doesn't make something fact.

Liar.

 

[Acebb]

I've honored any and all bets...here and everywhere....my entire life. Sorry that don't fit your little narrative but lucky for you it will probably just get lost in the shuffle of your list of wrong

HA HA HA HA HA HA HA

HA HA HA HA HA

Except you can't stop posting about politics.

 

[vitterd]

Uh, I didn't "lie"

You are a stiff and a loser.

You also are pathetic. As evidenced by your begging to discuss politics here.

Ummm..you did lie and ran to excuses once money was mentioned. Leave the thread...nobody asked you here to discuss politics. You are a complete loser and liar

 

[Acebb]

It is well documented that these loans from private mortgage lenders with no underwriting regulation were the root cause of the crisis along with the derivatives, swaps, and CDO's Wall Street created. But the root was the underwriting.

Now this idiot is claiming there were 'no' regulations.

My goodness, are you a fucking idiot.

 

[akphidelt]

Except not "ruling out the possibility" doesn't make something fact.

Liar.

That's one article you found. The official commission report even acknowledges is that the lack of underwriting standards from private mortgage lenders caused the financial crisis. This is something that has been known for years. Are you really just finding this out?? Lmao

 

[Acebb]

I don't think this dumb Alaskan kid actually understands what Fannie Mae does.

I really don't.