Im not trying to divide the blame. In fact, Im the only one that has said the blame lies at everyones feet. Please show where I imply anything differant
Ok.
Im talking about the fact they stoppes verifying income. Neither, had anything to do with hud. I clarified my view on hud, sure they played a small role. The banks voluntary lending practices had far more to do with the bubble
Because the banks voluntary lending practices had far more to do with it.
if any body thinks hhud had anything to do with the bubble, or the burst, they are not worth the time debating against.
They've gone from nothing to do with it, to far less, to a small role in the course of our conversation.
As gor refinancing, it was happening well before the meltdown. People were refinancing every year, for 20% more in some cases.
Yes, I'm well aware people have been refinancing for many years, but I've never read anything suggesting it was a contributing factor. After the meltdown refinancing has gone through the roof, to the point banks are clogged with paperwork. Can you point to something suggesting refinancing played a factor in the meltdown?
Nice to see you didn't question the banks willingness to forgo income verification.
Uhh... you knew what I thought about the situation 5 years ago? I thought they gave out loans too easily then and now.
As for hud, they are not the only regulaters.
No, but they set the requirements for FHA loans and regulate F&F.
Fannie and freddie werent the only buyers.
No, just the biggest, controlling something like 50% or more of the market at the time.
Yes, hud had a role, and yes they share some of the blame. No, they aren't the only ones. And, they arent the only ones in government to hold some blame. For the sixth time now, the blame lies at everyones feet.
That I agree with, but it doesn't jive with your past statements.
I see it like trying to say your great great grandmother has a smaller role in you being here than your grandmother. If anyone in that chain is gone, your not here anymore. Same with this, any link could have stopped the crisis if they had acted properly.
dont you think the stock exchange is recovering more from corporations changing their practices than obama doing anything?
How have corporations changed practices?
All of them?
You don't see the economy as improving?
I go with jedi here. The market is recovering because corporations are laying people off and doing more with less improving the bottom line. Historically, when recesions like this happen, thats what corporations do, then small business and new businesses make up for the job loses. Trouble is, no one is starting or investing in small businesses during this recovery, partly because of the uncertainty, and part of that uncertainty can be traced back to Obama and things he's said and done (or not said, and not done)
