Bush promoted home ownership despite poor credit

iVillage Member
Registered: 07-11-2006
Bush promoted home ownership despite poor credit
67
Mon, 11-28-2011 - 8:08pm

From that well-known biased source: The business section of the Wall Street Journal

Pages

iVillage Member
Registered: 09-30-2011
Fri, 12-02-2011 - 3:09am

The videos of Democrats defending Fannie and Freddie are NOT evidence that the Republicans were in favor of or concerned about subprime loans.

Of course it is.

iVillage Member
Registered: 09-30-2011
Fri, 12-02-2011 - 3:11am

Relatively speaking, in terms of the crisis Fannie and Freddie did NOT have great numbers of subprime loans.

No?

iVillage Member
Registered: 07-11-2006
Fri, 12-02-2011 - 9:50am

I'm thinking you missed all of the videos and cites that showed how Republicans tried impose regulations

If you posted ANY videos on regulating anything other than the GSEs, you are right. I missed them. But I am waiting! Not cerulean yet.

iVillage Member
Registered: 07-11-2006
Fri, 12-02-2011 - 9:51am

The other salient point, is that, prior to the collapse, the Democrats controlled Congress...

You can believe anything you want to believe, but this statement is completely false, disingenuous, and very misleading.

iVillage Member
Registered: 07-11-2006
Fri, 12-02-2011 - 9:55am

I think it makes more sense that Bernanke changed his opinion between 2007 and 2010, because with time he was able to see more of the facts.

But then you could have a point. Conservatives tend to cling to ideology, Liberals tend to flex to whatever the evidence supports, so in a very contorted way, I guess it would be fair to say Bernanke became more liberal becasue he is now using evidence not ideology to support his opinion.

iVillage Member
Registered: 07-11-2006
Fri, 12-02-2011 - 9:56am

if it weren't for all of those pesky time the Republicans tried to introduce regulations

Still waiting for some evidence.....

iVillage Member
Registered: 07-11-2006
Fri, 12-02-2011 - 10:01am

iVillage Member
Registered: 07-11-2006
Fri, 12-02-2011 - 10:03am

An Ad Hominem is a general category of fallacies in which a

iVillage Member
Registered: 07-11-2006
Fri, 12-02-2011 - 10:07am
Supreme Court Permits States to Enforce Their Consumer Protection Laws Against National Banks

By Carolyn G. Nussbaum, Raymond J. Gustini, and Isabelle Ord

7/17/2009

In 2005, Eliot Spitzer, then-Attorney General for the state of New York, requested certain national banks to informally provide non-public information about their consumer lending practices. Spitzer’s letter requests, made in lieu of subpoenas, were intended to discover information about the banks’ lending practices to minority customers to determine whether any of the banks had violated New York’s fair lending laws. The requests also suggested that failure to provide the requested information voluntarily would lead to the issuance of formal subpoenas.

The OCC and the Clearing House Association, LLC, a banking trade group, brought suit in federal court to enjoin Spitzer’s requests, based on the National Bank Act and regulations promulgated by the OCC in 2004 prohibiting enforcement efforts against national banks by the states. In 2005, the District Court ruled in favor of the OCC and Clearing House, and the United States Court of Appeals for the Second Circuit affirmed the injunction in 2007. During this time, Andrew Cuomo replaced Mr. Spitzer as the Attorney General for the state of New York, and continued the litigation, seeking a writ of certiorari that the Supreme Court granted.

The Decision

In a 5-to-4 decision, the Supreme Court vacated the injunction obtained by the OCC and Clearing House to the extent it prohibited the Attorney General from bringing judicial enforcement actions against national banks to enforce state law, but affirmed the injunction against the threatened issuance of executive subpoenas.

http://www.nixonpeabody.com/publications_detail3.asp?ID=2842

iVillage Member
Registered: 07-11-2006
Fri, 12-02-2011 - 10:09am

it appears that when states attempted to put consumer protections in place to prevent predatory lending, the Bush administration blocked them

The good news, I guess, its that Bush's efforts to use the OCC to block state consumer protection failed. The SJC ruled against him.

Pages