05TurboS2k

I just read a piece about Time Warner threatening sue for proprietary rights if a youtube video was not removed here in the U.S. Well they did threaten and it was removed, however Canada kept it rolling.

Strange that Time Warner wouldn't want this out in public.....

It was a Fox news piece that got very little attention it seems. I like that it calls out certain individuals who said "things are fine" back in 2003 and "we should push Fred and Fannie to do MORE to get low income people into houses".

What a bunch of morons, now look at the situation we're in..... gee thanks, I'm so glad we got all those low income families into houses they couldn't afford, we really helped them and ourselves didn't we.

-Greg

05TurboS2k

oh hmm....

This looks about right[media]cMnSp4qEXNM [/media]

thefin

yup looks like you caught them 05turbos2k, one problem. in 2003-2005 (two years in which the republicans didn't need to listen to any democrat to pass this bill, did they? Why would they, pulling in strong support from Goldman Sachs in the form of treasury secretary Paulson. I'd through in Snow too because of that 2004 10mil in debt his brokers bought and later sold. I don't really trust wikipedia or the idea that broker could make a 10mil deal without the clients prior knowledge.

Barney's huffington post article.

While it is highly likely that neither Frank nor Bush or anybody truly understood the results of their action in the market in 02-06( as I see it) I don't recall "caution" being the word of the day in America's capitalist markets.

05TurboS2k

I'd have to strongly disagree with your post towards the end. I agree somewhat in the start of it. However republicans would be the "meanies taking homes from poor people" if they acted earlier without support. AND WE ALL KNOW IT.

As for the claim that NOBODY truly understood? Uhmmm I think that's pretty much dead wrong. I think plenty knew it was a huge risk and plenty said so. Nobody listened. Capitalists are about profit, a caution about not making profit in the future would be listened to by these money makers.

05TurboS2k

Let's also not forget it was the CLINTON ADMIN that pushed this whole thing through anyway putting massive pressure on Fannie to grant a loan to anyone and everyone and more specifically the "underprivileged".

^ I can back that I'm sure.


EDIT> Here we are. This is were the liberals/ socialists did us alllll a favor by putting us in the position we are now in. Gee thanks! I bet those poor people who are now all out on the streets are happy. I know the rest of America sure is thankful. Sadly they don't even know who to blame.

lovin_s2k

wow this is sad, but what can we do now its too late

05TurboS2k

Well, we can make better choices in the future by knowing why it failed in the past.... but yes... it's quite depressing and a bit too late now.

OverBooster

I am LOVING the housing crisis. I will closing on a house in a couple weeks that sold in 2005 for $505,000. I will be stealing it for less than $300,000 at a ridiculously low interest rate. I have never been happier to be a renter than over the last 12 months

AZDavid

You may be less happy knowning home prices are expected to fall another 20%+ from current levels before it is all said and done.

enoyskt

Sorry to all that have lost your homes, You should of knew but this market is booming for me as a real estate investor