Message from @☦ Slouch ☦
Discord ID: 500773020554493952
The demand for subprime loans influenced and enforced by govt via Clinton's polities (referenced above) rocketed during '01, which increased around nearly two-hundred and five percent, coupled with Fannie and Freddie's need to meet govt. quotas as they bought from other mortgage originators -- loans having to be made to those below the median income relative to their residing communities; this enforced quote had doubled up until '07. Wallison does a good job of explaining the crisis:
`It is certainly possible to find prime mortgages among borrowers below the median income, but when half or more of the mortgages the GSEs [i.e., Fannie Mac, Freddie Mac] bought had to be made to people below that income level, it was inevitable that underwriting standards had to decline. And they did. By 2000, Fannie was offering no-downpayment loans. By 2002, Fannie and Freddie had bought well over $1 trillion of subprime and other low quality loans. Fannie and Freddie were by far the largest part of this effort, but the FHA, Federal Home Loan Banks, Veterans Administration and other agencies—all under congressional and HUD pressure—followed suit.`
SSSSSSSSSSSSSSSSS
Spilled
SSSSSSSSSSSSSSSSSSSSSSS
Oh so you just copy and pasted from an article
Yeah ignore the SSSSSS
only 2 paragraphs
SSSSSSSSSSSSSSSSSS
and now talk about the other half of the cause
The quoted portion is from TA's article: https://www.theatlantic.com/business/archive/2011/12/hey-barney-frank-the-government-did-cause-the-housing-crisis/249903/
Which article did you copy and paste this from @irix
oh lmao
nailed it
You can't even defend your own position without someone else doing it for you
Copy and paste what?
the fact that the banks in question were making risky foreign investments with the money they were supposed to be keeping for their clients
regulation solved this issue
<:ThinkStare:424813165671481345>
I used a quote by a prominent congressman to defend what I had stated
You can trace what I said, it was certainly not copied from any source.
An appeal to experience, not authority.
no its authority
actually i promised you could argue with normie
dstryd
lul
But you could actually read what he said rather than crying 'authority' because a point was made.
lol
<@492501920011780096> you gay nigga
hes gone
<:ThinkStare:424813165671481345>
no it just speaks miles that you literally can't defend your own position without someone elses words
He got bopped
mord gay xddddddddddddddddddddddddddddddddddddddddddddddddd
Shut up centrist @Xenoframe
leave me alonee
nigga can't even decide what he believes
yes i can
I am a radical centrist
subprime mortgages caused a strain on the banks that they should have been able to handle, but they were unable to handle it because they were busy making high-risk foreign investments with the money they were keeping for their clients. this is now illegal because of government regulation
I will change my beliefs based off the current state of the Overton window to be as centrist as possible