Arizona's New Immigration Law

my apologies if that quip was in repsonse to your post, i should have clarified.... i have heard (first hand in person as well as from "the media") plenty of people say that the housing crisis and subsequent economic collapse was caused/mostly the fault of "giving mortgages" to "minorities." my bad for implying that YOU said that or believe that. but it's been asserted.

I have seen the same thing said but more from an allegation that predatory lenders/mortgage brokers were taking advantage of "unsophisticated" purchasers. Not sure if that is the same thing you are referring to. Undoubtedly, many of these unscrupulous brokers made promises of easy money to people who wanted to believe in "pie-in-the-sky" investmets and targeted low-income individuals. Plenty of fault to go around on that scenario.

1. Did I assert that cutting taxes is the way to Nirvana?

2. Did I assert that I know everything?

3. Did I make sweeping general statements about complex financial relationships?

4. Did I make generic assumptions about large groups of people with points of view different then mine?

Did you do any of the above?

I would put you on ignore, but I find your semi-informed, over simplifications morbidly fascinating.


What came first the chicken or the egg? Did the inventory of (over building) houses exist before the sub-prime loans? Why would banks design such crazy loans? What would be their motivation? Government pressure? When have banks ever operated in this fashion?

I have seen the same thing said but more from an allegation that predatory lenders/mortgage brokers were taking advantage of "unsophisticated" purchasers. Not sure if that is the same thing you are referring to. Undoubtedly, many of these unscrupulous brokers made promises of easy money to people who wanted to believe in "pie-in-the-sky" investmets and targeted low-income individuals. Plenty of fault to go around on that scenario.

agree, predatory lending was a huge part of the problem.

unfortunately i've been around people who claim not to be racist but then always seem to find a way to blame every issue/problem on minorities. in polite language of course.

I have seen the same thing said but more from an allegation that predatory lenders/mortgage brokers were taking advantage of "unsophisticated" purchasers. Not sure if that is the same thing you are referring to. Undoubtedly, many of these unscrupulous brokers made promises of easy money to people who wanted to believe in "pie-in-the-sky" investmets and targeted low-income individuals. Plenty of fault to go around on that scenario.

Now comes the same simple question. Why would the banks approve and back thes predatory mortgage brokers. Mortgage brokers can't make the mortgage the bank does. Banks made it clear there was money to make and lot's of it for helping them put warm bodies in these houses. By blaming the mortgage brokers you are blaming the banks. The mortgage brokers got rich from the sub primte loans they are not at fault at all. The bank has to approve the loan. They were paid a hefty fee to reduce that inventory. They were helping the banks try to avoid the inevitable.

Why would banks design such crazy loans? What would be their motivation?

duh... money.

they didn't care if there were actual bodies in actual houses. they'd package up all these loans and sell them off to someone else. it was like hot potato they were just passing shit around to each other making money.

my apologies if that quip was in repsonse to your post, i should have clarified.... i have heard (first hand in person as well as from "the media") plenty of people say that the housing crisis and subsequent economic collapse was caused/mostly the fault of "giving mortgages" to "minorities." my bad for implying that YOU said that or believe that. but it's been asserted.Cool, Thx. :food-smil

We agree to disagree. Now we know where we stand. What do we agree on. It seems like people are agreeing on anything anymore. Which leads me to this question. What are your perceptions of America. Is America an English/European Christian empire or something new created by the founding fathers.Nothing I say or post will change your views/opinions. So it's best we stay at "agree to disagree".

The housing issue was caused by just about everyone involved. Banks, goverment, builders, realtors, and the customers buying these homes.

The housing issue was caused by just about everyone involved. Banks, goverment, builders, realtors, and the customers buying these homes.

yup.
i'd also like to blame Dan Snyder, Vinny Cerrato, Dick Cheney, Jason Campbell, Ben Roethlisberger, Jim Zorn, Tiger Woods, Greg Blache, Brett Favre, and Albert Haynesworth.

and the media.

The housing issue was caused by just about everyone involved. Banks, goverment, builders, realtors, and the customers buying these homes.

Banks are not controlled by government. Please Slinging Sammy confirm with your links. The housing inventory existed before the sub prime loans. This will prove my hypothesis. Housing BOOM!!!