It's official, we're Socialists!

[Phil Dally]

Interesting that anybody in the academia/left-wing bubble would have the gall use the word: "empirical"

It's guys and gals like us who live in the real world and saw the loans being handed out with almost no documentation.

With each progressively more left wing controlled Congress more and more pressure was placed on banks to fill low income quotas.

Resulting in millions of well meaning Americans not being able to make their note which drove the recession...not the other way around.

Hey, I thought you were 'done'?

Thankfully we don't have a local speech sheriff on this forum...as long as we keep it cool!!

[miniman82]

It's guys and gals like us who live in the real world and saw the loans being handed out with almost no documentation.

You know what, though? I used to blame the banks exclusively completely for the disaster, but after much reflection I've come to realise that we all have to share part of the blame on this one. Were the banks wrong for telling people they could afford notes they really had no chance at repaying? Yes, that's clearly predatory. But at the same time, were those people stupid enough to believe what the banks were telling them despite their gut feeling something was not right? Absolutely. I personally have no empathy for a person who through their own ignorance of personal finance gets themselves into a situation like that, it's their own damn fault and I don't believe the rest of the country should have to pay for it. Unfortunately, the problem was so massive and so widespread, I don't think the Government had any choice but get involved. Trouble is, those providing the 'help' are just as crooked as those who caused it. Thus, the cycle of life repeats itself ad infanum.

Phil, I just came from the Communist Republic of Kalifornia. Is it still as bad as it was 2 years ago? When I left, the people I was renting from saw their chance to escape and sold the house we were renting from them for $125,000 more than they payed. Promptly after the sale the bubble burst, and the new owners were instantly under water.

I'm sorry, but when you look around at the market and a 1,200 sq ft house in the middle of a sh!t stink desert like Lemoore costs a quarter mil, something is very wrong. Anyone who bought during that time is a friggin moron, and deserves to learn their lesson the hard way. I mean seriously, you know what I could buy for a quarter mil where I'm from? I could buy like 3 2-story houses, rehab all of them, rent them our section 8, and STILL make money!

Thankfully we don't have a local speech sheriff on this forum...as long as we keep it cool!!

Says who, ya varmit?

[Am-Iron]

[quote="TonyL"]I think it's Reinvestment act. Not redevelopment. I looked briefly at the wiki on it, lots to take in, had some good impact, and then loads of changes over the years making it more and more irrelevant, and finally disastrous. It gets the blame for the housing crisis a lot, but while it was a factor...

Thanks for the info Tony, And you are correct about Toyotas too. I think a lot of Hondas are made here as well as other "imports". My thought is that the money (besides the wages to the workers) goes overseas. Now that being said, the auto companies that were bailed out by the U.S. should be required to build here. We do need to figure out the pay scale and get people in there that will work for comparable wages as the "imports" are paying here. The Management should follow suit as far as pay goes.
Most people believe that the government runs things. We the people should but that is not the way it is right now. It seems people are complacent. Discussions like this are needed to get people thinking. We need to get our voices heard. Either write your representatives or go out and protest. I don't care what it is you believe in... let your voice be heard!
Tony did you get my PM?

[TonyL]

it doesn't just stop with the wages to the workers. They buy glass, plastic, metal and rubber parts from american manufactures also. So that's nice. Not so with Chevy trucks and many other "american" staples. Its downright shameful, really.

I did get your pm, I thought I replied, but it's possible I didn't hit send or some nonsense. We're waiting on releasing actual details about the brackets until we work the bugs out. There are some issues, like clearance, and fit that need to be fixed before we start sharing that info. The last thing I want is someone getting hurt because they used our ideas.

[TonyL]

With each progressively more left wing controlled Congress more and more pressure was placed on banks to fill low income quotas.

Not sure it's only their fault, the so called conservative republicans did control congress right up till last election time, and by then the damage was done. It's one of those things where the dems get to point and say "See? that's due to the lack of regulations because of the Republicans!"

The sad truth is that they both, dems and republicans, conspired to cause the housing and financial disasters. Which is why I tend not to take sides. I think they're both evil, and refuse to believe what either say.

[TonyL]

Thankfully we don't have a local speech sheriff on this forum...as long as we keep it cool!!

Exactly, We run a different show. Say what you want, tell us how you feel. It's all good.

Just remember to keep it civil, and respectful, and I'll stay outta the way.

[Am-Iron]

Okay a quick show of hands. Who out there got a home loan without proper documentation???? I purchased homes in the 1980's 1990's and in 2004 each time I had to have bank statements, credit reports, pay stubs, down payment, tax returns, and I am sure there is more. I also had to make 4 times the monthly payment after paying any other loans. Blame it on what you want I still blame it on the massive unemployment. My parents got the loan for their home on almost a handshake! There was no mortgage crises then. Funny??
As far as illegal immigration it is a self answering question....it is illegal immigration correct. We have no rights in Mexico they should have none here. If there were a terrorist threat the borders would be shut down tight don't you think? When people here illegally get arrested they should be deported. We should not have to lose our civil liberties in order for something to get done about it. Amnesty????? Maybe since a guy has been illegally selling drugs for 20 years and now his son is doing it we should give them amnesty too!? It is illegal plain and simple. Use the proper channels and get citizenship or don't be surprised when you find yourself back were you belong.

[miniman82]

Not sure it's only their fault, the so called conservative republicans did control congress right up till last election time, and by then the damage was done. It's one of those things where the dems get to point and say "See? that's due to the lack of regulations because of the Republicans!"

My biggest beef with either party is this: Republicans are supposed to stand for fiscal Conservatism/lower taxes, Democrats are typically for more Government control/higher taxes. Trouble in the last 10 years has been, both parties have been TAKEN OVER by Progressives! That's the reason why you can't tell the difference between them anymore- THERE ISN'T ONE! Glen Beck is spot on with this observation, but the People are not the only ones who are hurt by it. He's absolutely correct when he says that the Dems got eaten alive by Progressives for not standing up for Democratic principles, and as a result there is nothing left of the 'traditional' Democratic (moderate) Left. The Repubs aren't far behind since they are much quicker to stand up to the Progressive lunacy sweeping the nation, but they still have Progs in their party.

I tend not to take sides. I think they're both evil, and refuse to believe what either say.

I'm leaning the same way lately, though I hold out hope that the Repubs will PULL THEIR HEADS OUT OF THEIR ASSES before they get swallowed up by the Progs like the Dems did. If that does happen, then I'm afraid the last hope of our Republic (on either side of the political spectrum) is a populist 3rd party. It would be ugly. There would be fighting, both politically and physically. But in the end, the 'traditional' old Left and Right of this country is going to have to one way or another rid itself of the Progressive cancer that is eating away at our 200+ year old system. Only then can we get back to where we were before Progressivism first spread in the 1920's, and get back to basics. It will take both the true Dems and true Repubs banding together to fix the problem, fighting between the 2 will accomplish nothing.