end of america?
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end of america?

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    Senior Member havasu1's Avatar
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    Default end of america?

    Anyone else go to the website endofamerica13.com It's kinda long but interesting. Now that is some scary stuff. Not too many holes in his logic. I realize he is selling something but could happen. Well, maybe I can spend 6 months at the lake then.

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    Quote Originally Posted by havasu1 View Post
    Anyone else go to the website endofamerica13.com It's kinda long but interesting. Now that is some scary stuff. Not too many holes in his logic. I realize he is selling something but could happen. Well, maybe I can spend 6 months at the lake then.

    I think this is the same deal Rexone sent off $49 for the info package. He was going to post what he finds out soon. There is another post about a week ago from Rex. It is alarming info .

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    Senior Member AzMandella's Avatar
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    Quote Originally Posted by zombie View Post
    I think this is the same deal Rexone sent off $49 for the info package. He was going to post what he finds out soon. There is another post about a week ago from Rex. It is alarming info .
    Yes it is alarming. Unfortunately you still can't understand that the vast majority of the collapses he explains will be caused by the Gov not the corperations and CEO's.

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    Quote Originally Posted by AzMandella View Post
    Yes it is alarming. Unfortunately you still can't understand that the vast majority of the collapses he explains will be caused by the Gov not the corperations and CEO's.

    LOL! you just keep on telling yourself that corporate greed and corruption has nothing to do with our current depression/recession.

    Hey Rex! We need a "Head in the sand" smiley asap! Thanks Zombie.

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    Senior Member AzMandella's Avatar
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    Quote Originally Posted by zombie View Post
    LOL! you just keep on telling yourself that corporate greed and corruption has nothing to do with our current depression/recession.

    Hey Rex! We need a "Head in the sand" smiley asap! Thanks Zombie.
    Well just answer a few questions then. Who was more responsible for the housing crash ? The banks that made the loans or the government (Freddie and Fannie) who authorized those loans to be purchased by them. Also who was it that packaged up all thost toxic loans and sold them to the private sector in the form of mortgaged backed securities ? Sure there was greed amongst banks to try and get as much of the business the gov created in the form of millions of people who would now qualify for a loan that otherwise would have never been in the market for a house. Who opened pandoras box and then passed the buck ?

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    Quote Originally Posted by AzMandella View Post
    Well just answer a few questions then. Who was more responsible for the housing crash ? The banks that made the loans or the government (Freddie and Fannie) who authorized those loans to be purchased by them. Also who was it that packaged up all thost toxic loans and sold them to the private sector in the form of mortgaged backed securities ? Sure there was greed amongst banks to try and get as much of the business the gov created in the form of millions of people who would now qualify for a loan that otherwise would have never been in the market for a house. Who opened pandoras box and then passed the buck ?
    Look up how many of those loans were backed by Fannie and Freddie Marvin. The last time I looked it up, I think the number was only 18%. There were tons of loans that were given out and the originator of the loan didn't care whether those taking the loan could repay it because the originator could sell the loan the next day.

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    Senior Member AzMandella's Avatar
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    Quote Originally Posted by ram78d10 View Post
    Look up how many of those loans were backed by Fannie and Freddie Marvin. The last time I looked it up, I think the number was only 18%. There were tons of loans that were given out and the originator of the loan didn't care whether those taking the loan could repay it because the originator could sell the loan the next day.
    And who was it that set the standards for said loans. As far as I know it is the senate finance and banking committee that makes the regulations regarding loans. I also seem to rmrmber a certain Harvard law graduate that was teaching ACORN how to protest banks and intimidate them to give said loans to people who could not afford it when smart banks tried to keep from giving risky loans. I never said the banks were not at fault and didn't get greedy. but it was the gov that set the ball of wax rolling.. I also remember GWB, years before the crash, trying to get the senate finance and banking committee to tighten the regulations regarding qualification standards for loan approval. But the Polesmoker in charge was not going to have anything to do with it.

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    Quote Originally Posted by AzMandella View Post
    And who was it that set the standards for said loans. As far as I know it is the senate finance and banking committee that makes the regulations regarding loans. I also seem to rmrmber a certain Harvard law graduate that was teaching ACORN how to protest banks and intimidate them to give said loans to people who could not afford it when smart banks tried to keep from giving risky loans. I never said the banks were not at fault and didn't get greedy. but it was the gov that set the ball of wax rolling.. I also remember GWB, years before the crash, trying to get the senate finance and banking committee to tighten the regulations regarding qualification standards for loan approval. But the Polesmoker in charge was not going to have anything to do with it.
    You remember history your way Marvin, so you can blame Democrats and to a lesser extent all government, I'll remember what actually happened.

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    Senior Member havasu1's Avatar
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    I'd be interested in what you get for $49.00 as far as info goes. FYI, Freddie, Fanny and FHA back almost 100% of home mortgages........................... good news is NOBAMA is acutally looking at breaking up Freddie and Fannie. Even he can't take the financial heat of these quasi-goverment institutions. Some one page Chris Dodd for his input...............ya know, the lib that got millions off these institutions. That's ok though, he is a politician, not a big capitalist.

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    Senior Member AzMandella's Avatar
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    Quote Originally Posted by ram78d10 View Post
    You remember history your way Marvin, so you can blame Democrats and to a lesser extent all government, I'll remember what actually happened.
    I think your confusing the U.S.A for what happened in LA LA LAND. Where you seem to spend most of your time So you refute the fact that the SFBC set the standards for loan approval ? You refute that our current Pres helped organizations like ACORN develop strategies to force loans ? Do you refute the fact that gov job is to regulate and make sure thier is a fair playing field for all without creating a recipe for catastrophe ?

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    Senior Member AzMandella's Avatar
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    Quote Originally Posted by havasu1 View Post
    I'd be interested in what you get for $49.00 as far as info goes. FYI, Freddie, Fanny and FHA back almost 100% of home mortgages........................... good news is NOBAMA is acutally looking at breaking up Freddie and Fannie. Even he can't take the financial heat of these quasi-goverment institutions. Some one page Chris Dodd for his input...............ya know, the lib that got millions off these institutions. That's ok though, he is a politician, not a big capitalist.
    Yep. Here is a story from the Weekly Standard. It seems Freddie, Fannie(GSE's) And FHA backed 90% of the loans. Now RAM will come in and say even though these are Gov funded and run entities the GOV still had nothing to due with setting the standards as to which Banks made loans with Gov guarantee to purchase said loans. But he will remember what realy took place. In his own little twisted world. Or is that mind. I'd love to see him post some factual data to refute this. But we'll just get some BS sarcastic remark.

    Weekly Standard: Breaking Up With Fannie Mae : NPR

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    Quote Originally Posted by ram78d10 View Post
    You remember history your way Marvin, so you can blame Democrats and to a lesser extent all government, I'll remember what actually happened.
    Seems like the democrats have a little revisionist history problem

    In matters of style, swim with the current; in matters of principle, stand like a rock.
    Thomas Jefferson

    If our house be on fire, without inquiring whether it was fired from within or without, we must try to extinguish it.
    Thomas Jefferson

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    Quote Originally Posted by ram78d10 View Post
    Look up how many of those loans were backed by Fannie and Freddie Marvin. The last time I looked it up, I think the number was only 18%. .
    Quote Originally Posted by AzMandella View Post
    Yep. Here is a story from the Weekly Standard. It seems Freddie, Fannie(GSE's) And FHA backed 90% of the loans. Weekly Standard: Breaking Up With Fannie Mae : NPR
    "Currently, something like 90 percent of all new mortgages in this country are funded by the Federal Housing Administration (FHA) or by the GSEs. "

    Sometime in the last 10 yrs, the # increased dramatically. I'm not sure when or how fast.
    Quote Originally Posted by Tom Brown View Post
    I'm still chuckling at being "poo-pooed" for straying off topic. Awesome.

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    Quote Originally Posted by SBjet View Post
    "Currently, something like 90 percent of all new mortgages in this country are funded by the Federal Housing Administration (FHA) or by the GSEs. "

    Sometime in the last 10 yrs, the # increased dramatically. I'm not sure when or how fast.
    It increased after the housing bubble burst. The banks were saddled with enormous amounts of bad debt and stopped lending. The FHA stepped in and did what it was originally designed to do and that is back lending for housing through Fannie Mae when banks stop lending. That is why 90% of the new loans are FHA backed loans.
    Last edited by ram78d10; 03-02-2011 at 07:34 PM.

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