jcd11235 0 #126 January 16, 2010 QuoteThe financial sector did not force home buyers to overbid like mad, driving up home prices. It could credibly be argued that they did just that. The financial sector's demand for mortgages and MBS's caused lenders to do whatever it took to get people to sign up for mortgages, lest those lenders not have mortgages to resell. The demand for mortgages and mortgage backed securities drove the increased demand for homes, which, as you know, drove up the home prices. That isn't to say that some of those borrowers didn't know that they were getting loans they couldn't afford to pay back or would leave them upside down if the housing market tanked. However, there were also lenders and/or mortgage brokers who duped their customers. Some of those customers were simply not financially savvy and were persuaded to sign up for loans ill suited for their needs even though they qualified for more practical loans. Others engaged in outright fraud, misrepresenting loans to borrowers.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
jcd11235 0 #127 January 16, 2010 QuoteBush did not do much beyond repelling Saddam because Vietnam was still too fresh in our minds. He didn't go any further because he did not have the authority to do so, and he was wise enough to recognize that removing a government from power without having another government ready to immediately fill the power vacuum would be a strategic blunder and a catastrophe. QuoteBut mind you, Saddam caused his destiny by acts of war, not because he had different viewpoints. Bullshit That claim has been repeated refuted in t6his forum. OIL OIF was supposedly justified because Iraq supposedly had WMD and the ability to attack the US with only 45 minutes notice, which, as ignored intelligence predicted, turned out to be untrue. Iraq was not capable of mounting a significant attack upon her neighbors and certainly not the US.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
georgerussia 0 #128 January 16, 2010 Quote The financial sector did not force home buyers to overbid like mad, driving up home prices. Some mortgage brokers went even further, by asking buyers to lie in the applications, and helping them with fake paystubs so they would qualify for the loan they'd never qualify otherwise. For everyone it looked like a good game: - For average Joes buying overpriced properties with zero down interest-only loans - it was a risk-free investment; if it goes up, you sell it and pack a profit, if it goes down, you walk away and let the bank foreclosure. - For banks giving our liar loans using only collateral (i.e. without verifying that the buyer is actually able to pay the loan off) they counted on either a buyer would sell (with or without profit) and pay the bill, or the buyer would fail, and the bank loan will stay in bankruptcy because the buyer lied to the bank about income. And of course it didn't work for anyone, except those who sold their properties before the burst.* Don't pray for me if you wanna help - just send me a check. * Quote Share this post Link to post Share on other sites
kelpdiver 2 #129 January 17, 2010 Quote QuoteBut mind you, Saddam caused his destiny by acts of war, not because he had different viewpoints. Bullshit That claim has been repeated refuted in t6his forum. [email] OIL OIF was supposedly justified because Iraq supposedly had WMD and the ability to attack the US with only 45 minutes notice, which, as ignored intelligence predicted, turned out to be untrue. Iraq was not capable of mounting a significant attack upon her neighbors and certainly not the US. There is no denying that he invaded Kuwait, killed numerous people there, as well as in the Kurdish population. Quote Share this post Link to post Share on other sites
jcd11235 0 #130 January 17, 2010 QuoteThere is no denying that he invaded Kuwait, killed numerous people there, as well as in the Kurdish population. You're confusing Desert Shield/Storm with OIL OIF. The two are not the same.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
kelpdiver 2 #131 January 18, 2010 QuoteQuoteThere is no denying that he invaded Kuwait, killed numerous people there, as well as in the Kurdish population. You're confusing Desert Shield/Storm with OIL OIF. The two are not the same. No, I'm not. I consider the wars the same, with an interruption in between. I said "Saddam brought this upon himself." First in invading Kuwait, next in losing, and last in refusing to accept losing and not abiding by the terms of his probation. In the post 1991 era, if you want to trash Bush for returning, you'll need to explain why Clinton bombed Iraq as well. Quote Share this post Link to post Share on other sites
jcd11235 0 #132 January 18, 2010 QuoteQuoteQuoteThere is no denying that he invaded Kuwait, killed numerous people there, as well as in the Kurdish population. You're confusing Desert Shield/Storm with OIL OIF. The two are not the same. No, I'm not. I consider the wars the same, with an interruption in between. And that would be incorrect. That said, we've had this discussion before, so if you want to relive it, do a search.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
kelpdiver 2 #133 January 18, 2010 you're the one who wants to relive it, not I. Well, and Lucky, who again failed to understand the comparison being made. Quote Share this post Link to post Share on other sites
jcd11235 0 #134 January 19, 2010 Quoteyou're the one who wants to relive it, not I. Well, and Lucky, who again failed to understand the comparison being made. Right. That's why I told you to do a search instead of posting a comprehensive response to your post. <rolls eyes>Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
