Trump Wants to Dismantle Dodd-Frank

Discussion in 'Politics, Religion, Social Issues' started by rdowns, May 24, 2016.

  1. rdowns macrumors Penryn

    rdowns

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    #1
    But, but, but, Hillary.

    http://www.reuters.com/article/us-usa-election-trump-banks-idUSKCN0Y900J
     
  2. FieldingMellish Suspended

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    #2

    "Reacting on Twitter to Trump's comment, Democratic presidential front-runner Hillary Clinton called it a "reckless idea" that would "leave middle-class families out to dry."

    ...says the lady who favored outsourcing manufacturing and jobs, leaving the middle class families out to dry. And who also as Secretary of State created a worldwide migrant crisis. In addition to being investigated by the FBI.
     
  3. haxrnick macrumors 6502a

    haxrnick

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  4. ericgtr12 macrumors 6502a

    ericgtr12

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    #4
    Interesting you should mention this. I'm still awaiting your reply from yesterday for the post below, have you conveniently forgotten? It's almost as if you have no way to back up such a BS claim.
     
  5. Fancuku macrumors 6502a

    Fancuku

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    #5
    What's the matter? You're upset that someone else other than your crooked left will be able to take a loan?
     
  6. Renzatic Suspended

    Renzatic

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    #6
    I love the fact that the US is building a party who thinks everyone but them is intolerably evil, and out to destroy the country.

    It's going to lead to such wonderful things.
     
  7. jkcerda macrumors 6502

    jkcerda

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    #7
    Everyone taking loans out w/o being qualified created a huge mess .
     
  8. steve knight macrumors 68020

    steve knight

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    #8
    banks allowing it caused the problems.
     
  9. FieldingMellish Suspended

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    #9
    Banks forced into it by Barney Frank, all about "fairness" to get minorities into house ownership, regardless whether they could afford it, by eliminating roadblocks, such as having a job
     
  10. Renzatic Suspended

    Renzatic

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    #10
    Yeah, and those poor banks, blubbering all the while, screaming "WE CAN'T AFFORD THIS! WHY ARE THESE EVIL DEMOCRATS MAKING US DO THIS."

    ...oh wait, no. They made tons of money off it by pushing those loans on everyone, then moving the debt around, and fudging the numbers.
     
  11. steve knight macrumors 68020

    steve knight

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    #11
    In 2009 Frank responded to what he called "wholly inaccurate efforts by Republicans to blame Democrats, and [me] in particular" for the subprime mortgage crisis, which is linked to the financial crisis of 2007–2009.[52] He outlined his efforts to reform these institutions and add regulations, but met resistance from Republicans, with the main exception being a bill with Republican Mike Oxley that died because of opposition from President Bush.[52] The 2005 bill included Frank objectives, which were to impose tighter regulation of Fannie and Freddie and new funds for rental housing. Frank and Mike Oxley achieved broad bipartisan support for the bill in the Financial Services Committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told Frank. In an op-ed piece in the Wall Street Journal, Lawrence B. Lindsey, a former economic adviser to President George W. Bush, wrote that Frank "is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters."[10] Once control shifted to the Democrats, Frank was able to help guide both the Federal Housing Reform Act (H.R. 1427) and the Mortgage Reform and Anti-Predatory Lending Act (H.R. 3915) to passage in 2007.[52] Frank also said that the Republican-led Gramm–Leach–Bliley Act of 1999, which repealed part of the Glass–Steagall Act of 1933 and removed the wall between commercial and investment banks, contributed to the financial meltdown.[52] Frank stated further that "during twelve years of Republican rule no reform was adopted regarding Fannie Mae and Freddie Mac. In 2007, a few months after I became the Chairman, the House passed a strong reform bill; we sought to get the [Bush] administration's approval to include it in the economic stimulus legislation in January 2008; and finally got it passed and onto President Bush's desk in July 2008. Moreover, "we were able to adopt it in nineteen months, and we could have done it much quicker if the [Bush] administration had cooperated."[citation needed]
     
  12. zioxide macrumors 603

    zioxide

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    #12
    I hope I live long enough to see the inevitable collapse of the American economy.

    You can only race to the bottom for so long before you hit it.
     
  13. CalWizrd Suspended

    CalWizrd

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    #13
    Which party are you referring to?

    Seems to be a thing going around... affecting both parties. Ugh.
     
  14. VulchR macrumors 68020

    VulchR

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    #14
    Trump: because we all love greed- and stupidity-fuelled financial bubbles and having to bail out bankers rather than depositors.... But, hey, Trump tells it like it is and is out for the little guy (not bankers... no... definitely not bankers).
     
  15. rdowns thread starter macrumors Penryn

    rdowns

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    #15
    You've been posting here for what, maybe 2 weeks now? Eagerly awaiting your first post that isn't some partisan talking point.
     
  16. Renzatic Suspended

    Renzatic

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    #16
    Around here? Mostly our right leaning posters. In general? Everyone's gone pretty tribal.
     
  17. ericgtr12 macrumors 6502a

    ericgtr12

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    #17
    Probably a plant, no logic or knowledge, just poorly worded talking points.
     
  18. jkcerda macrumors 6502

    jkcerda

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    #18
    wearing a loin cloth all the time does not make you "tribal" , get rid of the star bucks cup if you want any credibility.
    --- Post Merged, May 24, 2016 ---
    this is the PRSI, about 90% of threads get "partisan".
     
  19. Renzatic Suspended

    Renzatic

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    #19
    He could be a Leftist mole, hired by George Soros.
     
  20. jkcerda macrumors 6502

    jkcerda

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    #20
    I love the irony of your post :p


    (shoots at messenger since I did not like the message)
     
  21. Renzatic Suspended

    Renzatic

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    #21
    But it's so warm!
     
  22. jkcerda macrumors 6502

    jkcerda

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    #22
    did you get your check from last time? mine was short :mad:
     
  23. ericgtr12 macrumors 6502a

    ericgtr12

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    #23
    Perfectly sums up your plight here, you should put that in your signature.
     
  24. Renzatic Suspended

    Renzatic

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    #24
    Oh look at you, being all whiny and entitled.

    It's no wonder we hired you.
     
  25. FieldingMellish Suspended

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    #25
    Childish response you got there. Here's some grown up advice.

    That’s called a Government Mandated Housing Bubble.

    “Government Mandated Housing Bubble.”

    http://www.forbes.com/2009/02/13/ho...ibutors_0216_peter_wallison_edward_pinto.html

    “There is very little doubt that the underlying cause of the current credit crisis was a housing bubble. But the collapse of the bubble would not have led to a worldwide recession and credit crisis if almost 40% of all U.S. mortgages–25 million loans–were not of the low quality known as subprime or Alt-A.

    These loans were made to borrowers with blemished credit, or involved low or no down payments, negative amortization and limited documentation of income. The loans’ unprecedentedly high rates of default are what is driving down housing prices and weakening the financial system.

    The low interest rates of the early 2000s may explain the growth of the housing bubble, but they don’t explain the poor quality of these mortgages. For that we have to look to the government’s distortion of the mortgage finance system through the Community Reinvestment Act and the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac .”


    aka - that douche fat windbag, Barney Frank.
     

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