Homosexual right wing fascists blaming people for what has been done to them by corporate fascism. The ridiculus criminal fraud was purportrated under direct supervsion of bush admin in order to create a crash to have an excuse to get rid of pensions, jobs, unions, social security, medicare, all taxpaid programs EXCEPT military police tsa state.
Community Reinvestment Act only applies to the banks or loans from the banks that comply with restricted measures, meaning, under the law, the underwriter, e.g. Fannie Mae, etc., CANNOT originate a Subprime or ALT-A loan.
Those toxic assets made up of Subprime mortgages were issued and packaged by the Wall Street and resold to everyone in the market.
NO BANK WAS FORCED TO MAKE ANY BAD LOAN BY THE GOVERNMENT.
What part of that you don't fucking understand Kudlow cocksucker?
Larey Kudlow is delusional. He apparantly has no understanding of the financial crisis. Banks loved sub-prime loans, because they could repackage them and sell them. They were easier to hand out, therefore easier to repackage. The more loans , the more profit.
Waiting for people to come up with 25% downpayments woud stall profits at the banks! They weren't about to stall easy profit, Larry! Wake Up, Larry! It's over.
No one forced the banks to do anything of the sort! Forcing the banks! The banks managed to thwart financial regulations, to thwart a bill to regulate them, and we are supposed to believe they were strong-armed into lending to poor people?
@dukee155 - did I watch it. Of course. What did you see? I saw a stuff shirt who hasn't done an honest days work in 30 years saying that the gov. forced banks to lend to the poor. Of course they did. But they didn't cause the economy to crash. That took years of abuse against the working class, with stagnated wages and no health care! Then it held out hope for a decent life while shipping those workers companies and jobs over seas.
then it was a simple matter to for financial industries to bet on them to fail, and then pushed as many people into the net as they could before they hauled it in. In so doing, they sucked EVERY dollar out. They sold these loans to people who had saved all their lives. Robbed pensions, and annuities. The suffering is legion, and there will be blood!
I'm a democrat, and I actually agree with Larry Kudlow. Half of the reason we're in the mess that we are in is because low income individuals with poor credit histories defaulted on their loans, sending Freddy and Fannie into chaos. Back in the 90s, congress pushed for lowering the standards for obtaining credit, and a bunch of easy money came flooding into the system. The fact that these people defaulted proves Kudlow's point.
Sorry...Larry Kudlow is a incredible prick. But what can you expect from him. He is one of many, who knows the cost of everything, and the value of nothing!
He has a point. Obviously Congress and the financial institutions conspired to "dump" toxic mortgage loans on foreign investors. On the other hand, poor financial education on the part of borrowers is not an excuse. It just goes to show you there is always a price to pay for lowering standards and being generous. As Kudlow stated, not all Americans are slated to be homeowners.
@cronaldo7manchester Who was the one who forced these banks to give out loans to people who cannot afford it? I am sure that Goldman can figure out that poor people cannot pay back the loans. May I add why don't we hang you from the telephone wire on a metal wire, in the middle of Florida, in August you anti-semi prick.
I don't think he was blamming the poor but the congress who he says lowered the standards for getting loans that the poor simply made use of.
Was the CRA updated in the 90's? I thought it was passed in the late 70's and this is why I don't see it affecting things today. The CRA would have affected mortgages in the 80's and 90's if it were the problem.
Kudlow is a LIAR! The CRA blame is irrelevant in the mortgage crisis. Whites got 72.5 percent of subprime mortgages, Blacks got 16.2 percent of subprimes, while the Hispanics got only 6.2 percent, less than their share of the population. According to Compliance Technologies. a provider of information to banks and government agencies. Tell everybody! The racists are just trying to keep responsible parties from being held accountable. They're counting on ignorance.
Larry Kudlow isn't blaming the poor - he's blaming the government for screwing over the poor!
objectivistathlete 4 weeks ago
Homosexual right wing fascists blaming people for what has been done to them by corporate fascism. The ridiculus criminal fraud was purportrated under direct supervsion of bush admin in order to create a crash to have an excuse to get rid of pensions, jobs, unions, social security, medicare, all taxpaid programs EXCEPT military police tsa state.
chuck3377 5 months ago
@chuck3377 What the hell does it have to do with homosexuals? How about Christians? That's the REAl plague.
Shad3251 3 months ago
Community Reinvestment Act only applies to the banks or loans from the banks that comply with restricted measures, meaning, under the law, the underwriter, e.g. Fannie Mae, etc., CANNOT originate a Subprime or ALT-A loan.
Those toxic assets made up of Subprime mortgages were issued and packaged by the Wall Street and resold to everyone in the market.
NO BANK WAS FORCED TO MAKE ANY BAD LOAN BY THE GOVERNMENT.
What part of that you don't fucking understand Kudlow cocksucker?
ninuxy 11 months ago
Larey Kudlow is delusional. He apparantly has no understanding of the financial crisis. Banks loved sub-prime loans, because they could repackage them and sell them. They were easier to hand out, therefore easier to repackage. The more loans , the more profit.
Waiting for people to come up with 25% downpayments woud stall profits at the banks! They weren't about to stall easy profit, Larry! Wake Up, Larry! It's over.
PFB1994 1 year ago
No one forced the banks to do anything of the sort! Forcing the banks! The banks managed to thwart financial regulations, to thwart a bill to regulate them, and we are supposed to believe they were strong-armed into lending to poor people?
lordhighexecutioner 1 year ago
@dukee155 - did I watch it. Of course. What did you see? I saw a stuff shirt who hasn't done an honest days work in 30 years saying that the gov. forced banks to lend to the poor. Of course they did. But they didn't cause the economy to crash. That took years of abuse against the working class, with stagnated wages and no health care! Then it held out hope for a decent life while shipping those workers companies and jobs over seas.
pjamesbda 1 year ago
then it was a simple matter to for financial industries to bet on them to fail, and then pushed as many people into the net as they could before they hauled it in. In so doing, they sucked EVERY dollar out. They sold these loans to people who had saved all their lives. Robbed pensions, and annuities. The suffering is legion, and there will be blood!
pjamesbda 1 year ago
I'm a democrat, and I actually agree with Larry Kudlow. Half of the reason we're in the mess that we are in is because low income individuals with poor credit histories defaulted on their loans, sending Freddy and Fannie into chaos. Back in the 90s, congress pushed for lowering the standards for obtaining credit, and a bunch of easy money came flooding into the system. The fact that these people defaulted proves Kudlow's point.
stutwostep 1 year ago
Sorry...Larry Kudlow is a incredible prick. But what can you expect from him. He is one of many, who knows the cost of everything, and the value of nothing!
pjamesbda 2 years ago
@pjamesbda Did you watch the video? He blamed it on the rich members of congress.
dukee155 1 year ago
Larry is right on.
RSapper21 2 years ago
He has a point. Obviously Congress and the financial institutions conspired to "dump" toxic mortgage loans on foreign investors. On the other hand, poor financial education on the part of borrowers is not an excuse. It just goes to show you there is always a price to pay for lowering standards and being generous. As Kudlow stated, not all Americans are slated to be homeowners.
SectorAnalyst 2 years ago
Larry Kudlow makes these people look like fools.
RSapper21 2 years ago
fuck you kudlow
liar........
cronaldo7manchester 2 years ago
this is to kudlow......
Liar Liar pants on fire
nose as long as a telephone wire
I blame the banks
cronaldo7manchester 3 years ago
@cronaldo7manchester Who was the one who forced these banks to give out loans to people who cannot afford it? I am sure that Goldman can figure out that poor people cannot pay back the loans. May I add why don't we hang you from the telephone wire on a metal wire, in the middle of Florida, in August you anti-semi prick.
dukee155 1 year ago
completely wrong on the CRA. those loans are not in any near of the bad shape than the unregulated subprime, the fucking idiot
b5564 3 years ago
CNBC should fire Kudlow the crackhead...
schoolmaster1945 3 years ago
I don't think he was blamming the poor but the congress who he says lowered the standards for getting loans that the poor simply made use of.
Was the CRA updated in the 90's? I thought it was passed in the late 70's and this is why I don't see it affecting things today. The CRA would have affected mortgages in the 80's and 90's if it were the problem.
CrowdPleeza 3 years ago
Kudlow is a LIAR! The CRA blame is irrelevant in the mortgage crisis. Whites got 72.5 percent of subprime mortgages, Blacks got 16.2 percent of subprimes, while the Hispanics got only 6.2 percent, less than their share of the population. According to Compliance Technologies. a provider of information to banks and government agencies. Tell everybody! The racists are just trying to keep responsible parties from being held accountable. They're counting on ignorance.
therealcaptobvious 3 years ago
goldilocks is government supported welfare bum whore.
mow1717 3 years ago
It's the new spin.
UrTheist 3 years ago