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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (121238)	9/19/2012 11:33:23 PM
From: Jim McMannis	Read Replies (3) \| Respond to of 149317

It's not BS Ted. It's fact. However there is not an easy one step cause. It was more like a perfect storm of numerous variables coming together. Greenspan however could have put the kabosh on much of it by keeping rates higher and not pouring gasoline on it. He clearly let it go on way too long and misunderstood the implications of bubbling RE. Greenspan is a Republican appointed by Reagan. Bad person Ted, bad person. G

To: tejek who wrote (121238)	9/19/2012 11:53:47 PM
From: John Vosilla	Read Replies (1) \| Respond to of 149317

GOP controlled everything from 2001-06. Glass-Stegal repealed 1999 with support along party lines only one Dem senator supported it even though it had support from Rubin and the Clinton administration. Regulators asleep at the wheel from SEC,OTS,OCC,FDIC, Federal Reserve + state regulators all screwed up in 2003-05. Greenspan keeping short term rates so low made it easier to fund those stupid no money down, no qualify option ARM 's with 1% start rate and make the initial payment with negative amortization on the back end appear affordable to the buyer even after values had just doubled or tripled in a couple of years.....you know the ads..