[TheBreeze]

[quote=SD Realtor]Blah, blah, blah.
[/quote]

SD Realtor,

No doubt that there were several Democrats who supported the President’s actions. However, my point is that it was the director of the OFHEO, the President’s proxy, who actually enacted the regulations which led to the housing bubble. No one as of yet has pointed me to an actual law that the Democrats passed which enabled the GSEs to go nutzy. So far, the Bush apologists have just shown me a bunch of hot air spewed forth by Democrats in support of the GSEs’ actions. That is not the same as enabling legislation.

But please, continue to spew forth with claims about the Democrats even though you have nothing to back it up.

[TheBreeze]

[quote=SD Realtor]Blah, blah, blah.
[/quote]

SD Realtor,

No doubt that there were several Democrats who supported the President’s actions. However, my point is that it was the director of the OFHEO, the President’s proxy, who actually enacted the regulations which led to the housing bubble. No one as of yet has pointed me to an actual law that the Democrats passed which enabled the GSEs to go nutzy. So far, the Bush apologists have just shown me a bunch of hot air spewed forth by Democrats in support of the GSEs’ actions. That is not the same as enabling legislation.

But please, continue to spew forth with claims about the Democrats even though you have nothing to back it up.

[TheBreeze]

[quote=SD Realtor]Blah, blah, blah.
[/quote]

SD Realtor,

No doubt that there were several Democrats who supported the President’s actions. However, my point is that it was the director of the OFHEO, the President’s proxy, who actually enacted the regulations which led to the housing bubble. No one as of yet has pointed me to an actual law that the Democrats passed which enabled the GSEs to go nutzy. So far, the Bush apologists have just shown me a bunch of hot air spewed forth by Democrats in support of the GSEs’ actions. That is not the same as enabling legislation.

But please, continue to spew forth with claims about the Democrats even though you have nothing to back it up.

[TheBreeze]

[quote=SD Realtor]Blah, blah, blah.
[/quote]

SD Realtor,

No doubt that there were several Democrats who supported the President’s actions. However, my point is that it was the director of the OFHEO, the President’s proxy, who actually enacted the regulations which led to the housing bubble. No one as of yet has pointed me to an actual law that the Democrats passed which enabled the GSEs to go nutzy. So far, the Bush apologists have just shown me a bunch of hot air spewed forth by Democrats in support of the GSEs’ actions. That is not the same as enabling legislation.

But please, continue to spew forth with claims about the Democrats even though you have nothing to back it up.

[TheBreeze]

[quote=SD Realtor]Blah, blah, blah.
[/quote]

SD Realtor,

No doubt that there were several Democrats who supported the President’s actions. However, my point is that it was the director of the OFHEO, the President’s proxy, who actually enacted the regulations which led to the housing bubble. No one as of yet has pointed me to an actual law that the Democrats passed which enabled the GSEs to go nutzy. So far, the Bush apologists have just shown me a bunch of hot air spewed forth by Democrats in support of the GSEs’ actions. That is not the same as enabling legislation.

But please, continue to spew forth with claims about the Democrats even though you have nothing to back it up.

[TheBreeze]

It seems to me that many of the seeds of loose lending standards rest with the Democrats, allowing financial institutions to leverage 30, 40 50 times, rest with the MO of this administration. The result was a perfect storm of handing out bad loans and leveraging them to the hilt.

Pssst…hey LA_Renter, the Republicans had majorities in the House of Representatives and the Senate from 2002-2006. Please show me the law that the Democrats passed that allowed the GSEs to go crazy with loose underwriting, thus causing the housing bubble.

This may surprise you, but I lean libertarian myself. However, unlike you, I don’t evaluate the parties based on their slogans. Instead, I dig deeper and look at what each party has actually done.

[TheBreeze]

It seems to me that many of the seeds of loose lending standards rest with the Democrats, allowing financial institutions to leverage 30, 40 50 times, rest with the MO of this administration. The result was a perfect storm of handing out bad loans and leveraging them to the hilt.

Pssst…hey LA_Renter, the Republicans had majorities in the House of Representatives and the Senate from 2002-2006. Please show me the law that the Democrats passed that allowed the GSEs to go crazy with loose underwriting, thus causing the housing bubble.

This may surprise you, but I lean libertarian myself. However, unlike you, I don’t evaluate the parties based on their slogans. Instead, I dig deeper and look at what each party has actually done.

[TheBreeze]

It seems to me that many of the seeds of loose lending standards rest with the Democrats, allowing financial institutions to leverage 30, 40 50 times, rest with the MO of this administration. The result was a perfect storm of handing out bad loans and leveraging them to the hilt.

Pssst…hey LA_Renter, the Republicans had majorities in the House of Representatives and the Senate from 2002-2006. Please show me the law that the Democrats passed that allowed the GSEs to go crazy with loose underwriting, thus causing the housing bubble.

This may surprise you, but I lean libertarian myself. However, unlike you, I don’t evaluate the parties based on their slogans. Instead, I dig deeper and look at what each party has actually done.

[TheBreeze]

It seems to me that many of the seeds of loose lending standards rest with the Democrats, allowing financial institutions to leverage 30, 40 50 times, rest with the MO of this administration. The result was a perfect storm of handing out bad loans and leveraging them to the hilt.

Pssst…hey LA_Renter, the Republicans had majorities in the House of Representatives and the Senate from 2002-2006. Please show me the law that the Democrats passed that allowed the GSEs to go crazy with loose underwriting, thus causing the housing bubble.

This may surprise you, but I lean libertarian myself. However, unlike you, I don’t evaluate the parties based on their slogans. Instead, I dig deeper and look at what each party has actually done.

[TheBreeze]

It seems to me that many of the seeds of loose lending standards rest with the Democrats, allowing financial institutions to leverage 30, 40 50 times, rest with the MO of this administration. The result was a perfect storm of handing out bad loans and leveraging them to the hilt.

Pssst…hey LA_Renter, the Republicans had majorities in the House of Representatives and the Senate from 2002-2006. Please show me the law that the Democrats passed that allowed the GSEs to go crazy with loose underwriting, thus causing the housing bubble.

This may surprise you, but I lean libertarian myself. However, unlike you, I don’t evaluate the parties based on their slogans. Instead, I dig deeper and look at what each party has actually done.

[TheBreeze]

It looks like OFHEO does have the power to control the GSEs underwriting standards:

Commenting on the OFHEO Safety and Soundness regulation (12 CFR part 1720), MICA stated that OFHEO should,

[[Page 19986]]

by regulation, bar the Enterprises from purchase of mortgages or mortgage-backed securities that exceed the 80% LTV. However, the Enterprises are already limited to the purchase of mortgages and
mortgage-backed securities that are similar in risk to those with an 80% LTV. Further, this proposal would not reduce regulatory burden,
which was the subject of this document.

http://edocket.access.gpo.gov/2006/06-3762.htm

So if OFHEO had/has the power to limit the GSEs from purchasing mortgages with an LTV > 80%, then what does it matter what the Congress says? And by the way, what does “similar in risk to those with an 80% LTV” mean? It sounds like OFHEO was allowing the GSEs to buy/guarantee mortgages with an LTV > 80%.

Anyhoo, I see the clip mentioned above as nothing more than a bunch of Congresspeople blowing hot air (they have no real power because the Presidentially-appointed director of the OFHEO is the only body that has the power to regulate the GSEs). It makes for great political theatre and it allows those Congressfolks to go back to their representatives and say “hey look, I stood up for you and tried to make it easier for you to get a mortgage.” But in reality, the Congresspeople have no real power as it was OFHEO (who’s director was appointed by the President) who implemented the very lax underwriting standards of the GSEs.

Now, I’ve done some real research that shows how Bush was mostly responsible for this housing bubble and crash. I look forward to responses from the Bush apologists that show me where I’m wrong. And no, I don’t want to see another Rush-Limbaugh-featured YouTube clip that shows a bunch of politicians with no power who were quoted out-of-context.

[TheBreeze]

It looks like OFHEO does have the power to control the GSEs underwriting standards:

Commenting on the OFHEO Safety and Soundness regulation (12 CFR part 1720), MICA stated that OFHEO should,

[[Page 19986]]

by regulation, bar the Enterprises from purchase of mortgages or mortgage-backed securities that exceed the 80% LTV. However, the Enterprises are already limited to the purchase of mortgages and
mortgage-backed securities that are similar in risk to those with an 80% LTV. Further, this proposal would not reduce regulatory burden,
which was the subject of this document.

http://edocket.access.gpo.gov/2006/06-3762.htm

So if OFHEO had/has the power to limit the GSEs from purchasing mortgages with an LTV > 80%, then what does it matter what the Congress says? And by the way, what does “similar in risk to those with an 80% LTV” mean? It sounds like OFHEO was allowing the GSEs to buy/guarantee mortgages with an LTV > 80%.

Anyhoo, I see the clip mentioned above as nothing more than a bunch of Congresspeople blowing hot air (they have no real power because the Presidentially-appointed director of the OFHEO is the only body that has the power to regulate the GSEs). It makes for great political theatre and it allows those Congressfolks to go back to their representatives and say “hey look, I stood up for you and tried to make it easier for you to get a mortgage.” But in reality, the Congresspeople have no real power as it was OFHEO (who’s director was appointed by the President) who implemented the very lax underwriting standards of the GSEs.

Now, I’ve done some real research that shows how Bush was mostly responsible for this housing bubble and crash. I look forward to responses from the Bush apologists that show me where I’m wrong. And no, I don’t want to see another Rush-Limbaugh-featured YouTube clip that shows a bunch of politicians with no power who were quoted out-of-context.

[TheBreeze]

It looks like OFHEO does have the power to control the GSEs underwriting standards:

Commenting on the OFHEO Safety and Soundness regulation (12 CFR part 1720), MICA stated that OFHEO should,

[[Page 19986]]

by regulation, bar the Enterprises from purchase of mortgages or mortgage-backed securities that exceed the 80% LTV. However, the Enterprises are already limited to the purchase of mortgages and
mortgage-backed securities that are similar in risk to those with an 80% LTV. Further, this proposal would not reduce regulatory burden,
which was the subject of this document.

http://edocket.access.gpo.gov/2006/06-3762.htm

So if OFHEO had/has the power to limit the GSEs from purchasing mortgages with an LTV > 80%, then what does it matter what the Congress says? And by the way, what does “similar in risk to those with an 80% LTV” mean? It sounds like OFHEO was allowing the GSEs to buy/guarantee mortgages with an LTV > 80%.

Anyhoo, I see the clip mentioned above as nothing more than a bunch of Congresspeople blowing hot air (they have no real power because the Presidentially-appointed director of the OFHEO is the only body that has the power to regulate the GSEs). It makes for great political theatre and it allows those Congressfolks to go back to their representatives and say “hey look, I stood up for you and tried to make it easier for you to get a mortgage.” But in reality, the Congresspeople have no real power as it was OFHEO (who’s director was appointed by the President) who implemented the very lax underwriting standards of the GSEs.

Now, I’ve done some real research that shows how Bush was mostly responsible for this housing bubble and crash. I look forward to responses from the Bush apologists that show me where I’m wrong. And no, I don’t want to see another Rush-Limbaugh-featured YouTube clip that shows a bunch of politicians with no power who were quoted out-of-context.

[TheBreeze]

It looks like OFHEO does have the power to control the GSEs underwriting standards:

Commenting on the OFHEO Safety and Soundness regulation (12 CFR part 1720), MICA stated that OFHEO should,

[[Page 19986]]

by regulation, bar the Enterprises from purchase of mortgages or mortgage-backed securities that exceed the 80% LTV. However, the Enterprises are already limited to the purchase of mortgages and
mortgage-backed securities that are similar in risk to those with an 80% LTV. Further, this proposal would not reduce regulatory burden,
which was the subject of this document.

http://edocket.access.gpo.gov/2006/06-3762.htm

So if OFHEO had/has the power to limit the GSEs from purchasing mortgages with an LTV > 80%, then what does it matter what the Congress says? And by the way, what does “similar in risk to those with an 80% LTV” mean? It sounds like OFHEO was allowing the GSEs to buy/guarantee mortgages with an LTV > 80%.

Anyhoo, I see the clip mentioned above as nothing more than a bunch of Congresspeople blowing hot air (they have no real power because the Presidentially-appointed director of the OFHEO is the only body that has the power to regulate the GSEs). It makes for great political theatre and it allows those Congressfolks to go back to their representatives and say “hey look, I stood up for you and tried to make it easier for you to get a mortgage.” But in reality, the Congresspeople have no real power as it was OFHEO (who’s director was appointed by the President) who implemented the very lax underwriting standards of the GSEs.

Now, I’ve done some real research that shows how Bush was mostly responsible for this housing bubble and crash. I look forward to responses from the Bush apologists that show me where I’m wrong. And no, I don’t want to see another Rush-Limbaugh-featured YouTube clip that shows a bunch of politicians with no power who were quoted out-of-context.

[TheBreeze]

It looks like OFHEO does have the power to control the GSEs underwriting standards:

Commenting on the OFHEO Safety and Soundness regulation (12 CFR part 1720), MICA stated that OFHEO should,

[[Page 19986]]

by regulation, bar the Enterprises from purchase of mortgages or mortgage-backed securities that exceed the 80% LTV. However, the Enterprises are already limited to the purchase of mortgages and
mortgage-backed securities that are similar in risk to those with an 80% LTV. Further, this proposal would not reduce regulatory burden,
which was the subject of this document.

http://edocket.access.gpo.gov/2006/06-3762.htm

So if OFHEO had/has the power to limit the GSEs from purchasing mortgages with an LTV > 80%, then what does it matter what the Congress says? And by the way, what does “similar in risk to those with an 80% LTV” mean? It sounds like OFHEO was allowing the GSEs to buy/guarantee mortgages with an LTV > 80%.

Anyhoo, I see the clip mentioned above as nothing more than a bunch of Congresspeople blowing hot air (they have no real power because the Presidentially-appointed director of the OFHEO is the only body that has the power to regulate the GSEs). It makes for great political theatre and it allows those Congressfolks to go back to their representatives and say “hey look, I stood up for you and tried to make it easier for you to get a mortgage.” But in reality, the Congresspeople have no real power as it was OFHEO (who’s director was appointed by the President) who implemented the very lax underwriting standards of the GSEs.

Now, I’ve done some real research that shows how Bush was mostly responsible for this housing bubble and crash. I look forward to responses from the Bush apologists that show me where I’m wrong. And no, I don’t want to see another Rush-Limbaugh-featured YouTube clip that shows a bunch of politicians with no power who were quoted out-of-context.

[Author]

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