Message from @sɪᴅɪsɴᴏᴛʜᴇʀᴇ

Discord ID: 531245376183730217


2019-01-05 22:52:17 UTC  

@Leo (BillNyeLand) banks wouldn’t have done those sorts of acts if the CRA did not exist

2019-01-05 22:52:36 UTC  

Glass Steagal and the CMFA was unrelated as most people like to believe

2019-01-05 22:53:27 UTC  

Just looking at the Wikipedia article

2019-01-05 22:53:57 UTC  

Ye

2019-01-05 22:54:07 UTC  

“The Financial Crisis Inquiry Commission formed by the US Congress in 2009 to investigate the causes of the 2008 financial crisis, concluded ‘the CRA was not a significant factor in subprime lending or the crisis’.”

2019-01-05 22:54:23 UTC  

yeah propaganda

2019-01-05 22:54:31 UTC  

they always say something along the lines of

2019-01-05 22:54:46 UTC  

“According to Yellen, former Chair of the Federal Reserve, independent mortgage companies made risky "higher-priced" loans at more than twice the rate of the banks and thrifts; most CRA loans were responsibly made, and were not the "higher-priced" loans that have contributed to the current crisis.”

2019-01-05 22:54:48 UTC  

“Independent mortgage funds weren’t subject to CRA”

2019-01-05 22:54:51 UTC  

yep

2019-01-05 22:54:53 UTC  

Called it

2019-01-05 22:55:05 UTC  

What about them?

2019-01-05 22:55:33 UTC  

“In 2015, Federal Reserve Board economists Neil Bhutta and Daniel Ringo released a summary of available studies on both sides of the debate. They found that any impact of the CRA on risk was mitigated by the extraordinarily small market share that CRA eligible loans held in comparison with non-CRA eligible mortgage lending”

2019-01-05 22:56:07 UTC  

Yep

2019-01-05 22:56:12 UTC  

Basically

2019-01-05 22:58:37 UTC  

It is highly misleading to claim that just because mortgage companies were not technically under the CRA that they were not required by regulators to meet similar tests. In fact, regulators threatened that if the mortgage companies didn't step up to the plate by relaxing lending standards they would be brought under the CRA umbrella and required to do so.

What's more, many smaller mortage service companies hoped to be acquired by larger banks. Increasing their CRA lending made them more attractive for a take over.

the Clintons threatened to subject the mortgage companies to the CRA if they didn't comply voluntarily. They agreed to increase their CRA lending in order to escape the kind of public scrutiny that comes with official CRA regulated status.

2019-01-05 22:58:38 UTC  

I gtg

2019-01-05 22:58:58 UTC  

Sorry

2019-01-05 22:59:01 UTC  

Pce

2019-01-05 22:59:09 UTC  

In short there may have been less loans subject to CRA

2019-01-05 22:59:27 UTC  

But CRA type loans were made more due to the threat of regulation, trying to look good to be acquired by a bank

2019-01-05 22:59:34 UTC  

Which is what the 2009 report mises

2019-01-05 23:02:39 UTC  

@Anon365 Publically owned own companies mined diamonds through state corporations and they chose to use DeBeers as their distributor.

2019-01-05 23:03:56 UTC  

It’s more of a cartel than a monopoly

2019-01-05 23:06:11 UTC  

Cartels really do exist due to state intervention

2019-01-05 23:06:24 UTC  

for example, the FED

2019-01-06 00:20:38 UTC  

They had a monopoly before South Africas independence

2019-01-06 04:04:14 UTC  

Lol why does white guilt exist?

2019-01-06 04:04:28 UTC  

If you removed all the whites from history you would get African tribes.

2019-01-06 04:04:44 UTC  

In 2019 we would have the tech of 1000.

2019-01-06 04:04:59 UTC  

So thank white people that were not tribes anymore.

2019-01-06 12:58:40 UTC  

@Anon365 It wasn't only SA

2019-01-06 12:58:44 UTC  

the mines were publically owned

2019-01-06 12:58:46 UTC  

aka state owned

2019-01-07 20:50:56 UTC  

@Shadowstitcher11 'White' guilt exists because people denounce atrocities committed by 'whites' and feel responsibly for it. Personally I don't think people should feel bad for things that their ancestors did but many individuals identify with their ethnicity are defined by it, those people are lame. Saying that "In 2019 we would have the tech of 1000." If 'whites' didn't exist is genuinely the funniest thing I've heard all week and you saying that reveals your ignorance regarding history

2019-01-07 20:58:05 UTC  

@Shadowstitcher11, You're the type of guy that puts 10+ hours into Hearts of Iron 4 or Crusader Kings 2 and thinks that they're are some sort of historian

2019-01-07 20:58:45 UTC  

"If I was the leader of germany, they would've won"

2019-01-07 21:00:02 UTC  

"I wouldve invaded Poland faster than Hitler ever could"

2019-01-07 22:59:07 UTC  

@Toro What about black guilt?

2019-01-07 22:59:30 UTC  

Also I have 100+ hours of Hearts Of Iron 4 gameplay