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During those same explosive three years, private investment banks -- not Fannie and Freddie -- dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data.
Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. One reason is that Fannie and Freddie were subject to tougher standards than many of the unregulated players in the private sector who weakened lending standards, most of whom have gone bankrupt or are now in deep trouble.
Dupes of the Republican party and Wall Street say the words Bwany Fwank said in 2003 caused the 2008 financial meltdown. Here's Mr. Fwanks answer; Federal Reserve Board data show that: * More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions. * Private firms made 83 percent of the subprime loans to low- and moderate-income borrowers that year. * Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics. During Bubble Years, "Private Investment Banks, Not Fannie And Freddie, dominated The Mortgage Loans That Were Packaged And Sold."
In response to:

Gay Marriage Issue Actually Helps GOP

grabberde Wrote: Nov 16, 2012 4:44 PM
During those same explosive three years, private investment banks -- not Fannie and Freddie -- dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data.
In response to:

Gay Marriage Issue Actually Helps GOP

grabberde Wrote: Nov 16, 2012 4:44 PM
Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. One reason is that Fannie and Freddie were subject to tougher standards than many of the unregulated players in the private sector who weakened lending standards, most of whom have gone bankrupt or are now in deep trouble.
In response to:

Gay Marriage Issue Actually Helps GOP

grabberde Wrote: Nov 16, 2012 4:44 PM
Dupes of the Republican party and Wall Street say the words Bwany Fwank said in 2003 caused the 2008 financial meltdown. Here's Mr. Fwanks answer; Federal Reserve Board data show that: * More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions. * Private firms made 83 percent of the subprime loans to low- and moderate-income borrowers that year. * Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics. During Bubble Years, "Private Investment Banks, Not Fannie And Freddie, dominated The Mortgage Loans That Were Packaged And Sold."
During those same explosive three years, private investment banks -- not Fannie and Freddie -- dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data.
Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. One reason is that Fannie and Freddie were subject to tougher standards than many of the unregulated players in the private sector who weakened lending standards, most of whom have gone bankrupt or are now in deep trouble.
It's perfectly understandable why the Tea Party phonies and the far right Republican Party want to limit the franchise. They believe in the original intent of the Constitution. They would be perfectly happy to go back to 1789 when only free white men who owned property (including other human beings) could vote.
While these GOP efforts are focused primarily on reducing the vote among members of Democratic leaning groups, such as students, African Americans, the poor, and Latinos, the undermining of democracy being carried out by the GOP affects us all by weakening the fundamental core of our political system. It is up to all of us to fight back by protesting against the restrictive laws that the GOP is trying to pass, helping register voters, and making sure that everyone who wants to vote on election day is able to comply with whatever hurdles the GOP is able to put up.
There is no better example of how bankrupt today's GOP is than the efforts of that party to restrict voting. A political party that was interested in promoting the democratic values that make our country great would seek to increase voting, and let the chips fall where they may on election day. Instead, the GOP cowers in fear from the electorate, and chooses to combine a suppression of democracy with the money from conservative sugar daddies in an attempt to gain political power regardless of the cost to our democracy.
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