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Forum Post: Bloomberg is lying shithead

Posted 13 years ago on Nov. 2, 2011, 7 p.m. EST by hchc (3297) from Tampa, FL
This content is user submitted and not an official statement

"The government forced them too, waaaaaahhhhh..."

Gimme a fuckin break. Look at these politicians, they couldnt fight their way outta a paper bag.

Banks force the legislation. Why not, most houses in this country didnt have a mortgage before 2000. It went from 44% to 85% that had mortgages. The houses are already paid for, regardless.

Great scam...

11 Comments

11 Comments


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[-] 1 points by brooce (65) from Minneapolis, MN 13 years ago

How do you explain people that have been in their home for 20 years-both employeed and loosing their house to foreclosure? Do you think the boat, the motorhome and the swimming pool have anything to do with it? Homes are not piggy banks. They are the best hedge against inflation. People who chose to simply walk on underwater loans did more to hurt their neighbors than wall street-now that everybody is renting, there is more demand for rental property-pushing rents up. Soon inflation will push all those renters out wishing they where still in the home they chose to walk from. Housing is a 30 year deal-not a 3 year deal.

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[-] 1 points by hchc (3297) from Tampa, FL 13 years ago

No shit.

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[-] 1 points by RicoSuave (218) 13 years ago

Bloomberg is right. Only he didn't go far enough.

It was also the Executive Branch and the power of the federal agencies that forced banks to push loans to people who couldn't afford them and people with bad credit....

http://news.investors.com/Article/589858/201110310805/Housing-Crisis-Obama-Clinton-Subprime.htm

Don't forget to download the link to the 20 page government document from 1994 and read it. That document lays out the foundations for the federal government's role in creating the mess.

More info ....

http://www.villagevoice.com/2008-08-05/news/how-andrew-cuomo-gave-birth-to-the-crisis-at-fannie-mae-and-freddie-mac/

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[-] 1 points by hchc (3297) from Tampa, FL 13 years ago

And who pays for all these politicians? Who has ran them since the beginning? Who funds all the wars?

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[-] 1 points by mre43262011 (21) 13 years ago

We should find out where all these rich criminals live and go to protest at their homes.

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[-] 1 points by GreedKills (1119) 13 years ago

Pump and Dump

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[-] 0 points by Frankie (733) 13 years ago

Actually they did. It was well intentioned at the time but there was substantial pressure put on the banks to lend to lower-income borrowers which became the bulk of the sub-prime loans. That includes the 1992 Housing and Community Development Act, threats of losing charters and access to government mortgage purchase programs, suits to force them to do so by the government and groups like ACORN, etc., etc.

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[-] 1 points by hchc (3297) from Tampa, FL 13 years ago

Nope, sorry. Follow the money. Who funds the politicians? Who funds the wars? Who makes ass loads of $$$ off houses? Student loans?

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[-] 1 points by jk1234 (257) 13 years ago

Document it, send it to William Black, and get back to us

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[-] 0 points by Jimboiam (812) 13 years ago

Why should he have to document the HCDA? Its been law for 20 years. To many youngsters around here have no clue that the entire mortgage debacle started with the passage of the HCDA. Its even on wikipedia, look it up.

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