The Punch Donald Trump Needs To Throw At Bill Clinton

Oh. So freaking poor people bought enough houses to crash the economy?
Tell me another lie.

Absolutely, the housing failure had its genesis during the Clinton administration, just took a few years for the bubble to burst. Too many houses were sold to people that could not afford them. And the government is ready to force the banks down the same road again by forcing banks to give credit cards and large credit lines to people who can’t afford it and if they could, would probably be too irresponsible to pay.

Fits, you finally got something right.

thank goodness for Bill Clinton’s war on the poor… many neighborhoods and projects have been wiped away…

Nice revision of history. The housing bubble of 2004-2007 was in fact created by private mortgage securities, not affordable housing loans. The largest “affordable” housing product in 2000 was FHA loans (and VA loans) which saw a dramatic decrease, not an increase. FHA market share as Clinton left office in 2001 was 10%, and fell rapidly during the bubble to just 4% of all loans originated. The other were state and municiple level housing authority loans, based on FHA underwriting standards.

Subprime lending, which helped in large part to spur the bubble, was about 5% of market share in 2000, leaping to 17% in 2004 and over 20% in 2005, (which sort of shoots a hole in the theory since it remained below 7% of marketshare 2001-2003 – a peroid of four years). Sub-prime lending (and sub-prime loans were NEVER considered CRA loans) actually spikes during the final year of Bush’s first term and first year of his second term. Also the other product that spurred the bubble was the advent of the ALT-A product (a not-quite subprime mortgage product that generally didn’t have requirements for validating income and assets but required higher credit scores). Often they required 5% or less down in a real estate purchase.

These products were historically “portfolio” products meaning banks made them and held all the risk. A federal bank like Chase, or BofA, would have these liabilities held against them by regulators and they rarely played in that market and maintained high credit standards. However, the OTS, an executive agency, was much more lax in it’s oversight of the thrifts beginning in 2003 (under the GOP Administration), and they began to originate these products with gusto. Wall Street, and non-bank lenders, also got into the game by purchasing small thirfts around the country, to take advantage of the lax oversight. Combined with sub-prime lending, these loans (which were NEVER considered CRA loans) accounted by 2005 – 2006 some 45-50% of the originations. The vast majority were Option ARM negatively amortizing products with large resets in years 2-3. Again, four years after Clinton left office. If he had opened the flood gates, those spikes would have been 2001 and 2002. Also, beginning in 2004 and then going gangbusters 2005-2007 the Wall Street firms and the thrifts found ways to securitize these assets in securities they sold to investors (hence the hunger from Wall Street firms who enjoyed the commissions). I would also point out, that in 2003 and 2004 it was the thrifts, with heavy OTS backing, that solidified a practice known as Federal pre-emption that insulated the thrifts from any state level regulatory efforts.

The market share of ALT-A and Sub-prime only began to fall in 2007 when the Federal Reserve (late in the game) required ALL lenders to qualify borroers not at the low teaser rate, but at the reset rate. By then it was too late. And as delinquencies mounted on these products, investor demand for purchasing the debt obligations fell away. The lenders who primarily were dealing in these toxic assets where thrifts, noteably Washington Mutual (hello Florence SC), IndyMac, Lehman Bros through their thrift, Bear Stearns through their thrif in Dalls, and who could forget Wachovia’s thrift Golden West Finanacial.

As for any CRA loans during this time, demand for those products virtually dried up. Market share of CRA loans actually fell as Clinton left office, from 27% in 2000 to below 15% in 2005. Again, blowing a hole in the revisionist story. In fact, during the worst of the crisis 2007 through 2010 – CRA mortgage loans outperformed (meaning had lower default and delinquency rates) than the non-conforming private loans (Alt-A and Sub-prime), as did FNMA and FHLMC loans.

For anyone wanting to see a truly well done piece of research in this area, the FDIC concluded a great study in late 2009, which I would encourage anyone interested to read.as did the Fed Reserve of Cleveland. These studies use some big words, and econometric modeling with complex statistical analysis forumulas, so some of you, and you know who you are, might want to find the crib notes.

Also, don’t worry, it will happen again as the GOP Congress goes all out to relax regulatory controls over credit unions. I give them about 5 to 6 years.

I will not be responding to follow up questions, nor will I be acknowleding uninformed morons who will want to call me LIAR and a$$wipe pertaining to this educational post. For those of weak journalistic bent, I cannot help you.

DONALD TRUMP
WILL CHANGE THE ECONOMIC LANDSCAPE OF AMERICA, IF YOU GET OUT THERE AND VOTE.

Although
they say the US job market has declined, more and
more Americans are choosing to drop out of the labor force all told and no
longer even figure in to the employment figures.

Sly efforts for the Obama government
to disguise the employment picture are a bit like attempting to drive a giant
truck into a single family home garage. It doesn’t work. As Washington sings the praises of last month’s fall
in the unemployment data (6.3 percent), as this administration has silently
moved more than 988,000 citizens and legal immigrants into the column of “not partaking in the labor force”

If you add the current
number of Americans without a job (9.75 million) to the number of US citizens
not in the labor force (92.02), you come up with 101.77 million working age
Americans who do not have work, according to data from the US Bureau of Labor
Statistics (BLS).

That is why Mr. Donald Trump,
nominee for President. Is a driving force in bringing jobs back to America? He has the instinct and is
experienced in the world of commerce. He is knowledgeable and far out weighs government
negotiators who have placed us in Free Trade agreements that have made other
regimes wealthy while ours get literary nothing, except for loss of jobs and
hundreds of billions of dollars in red ink. From his New York offices he has watched our countries
economy slip away, through terrible fast track agreements, which were
negotiated with incompetent people.

Trump has already pledged to
have some of the most highly skilled personages and experts in writing
contracts and along with Trumps top notch handlers will clamp down on bad
agreements such as (NAFTA) Mexico specifically, with Japan and China at the top point of the list. Trump
knows that all the agreements we have ever made, which will soon include the
TPP (The TransPacific partnership was written to make corporations and
Industrial CEO’s wealthy not the American people. All these contracts are unilaterally
passed without involvement of the American people’s participation.

Just across our Southern
border in Mexico is a giant complex of American
businesses importing cars, trucks, and the parts–completely free of Tariffs (taxes?)
It is the same with the large range of foreign countries who import. Trump said
in his commentary he has seen the giant container ships docking in San Pedro, Los Angeles and Japanese cars unloaded by the
thousands. Nothing for the American
coffers except huge deficits, loss jobs and the multinational companies paying
little or no taxes as they have reestablished themselves.

U.S. goods
and private services trade with Mexico
totaled an estimated $536 billion in 2012 (latest data available). Exports
totaled $243 billion; Imports totaled $293 billion. The U.S. goods
and services trade deficit with Mexico was
$49 billion in 2012. The U.S. goods
and services trade deficit with Japan was
$57 billion in 2012. The U.S. goods
trade deficit with China was
$318 billion in 2013. The U.S. goods
and services trade deficit with Saudi
Arabia was $31 billion in
2012. So YOU tell me whose getting screwed? To repeat we are the greatest
consumer nation in the world, and yet we have an inept bunch of negotiators who
certainly are not looking out for the American people’s welfare.

In the works is President
Obama currently negotiating Trans-Pacific
Partnership free trade agreements that, if enacted, are
likely to result in increased outsourcing and growing job losses, especially in
the manufacturing sector? He has asked Congress for “Fast Track” authority, which would allow him to submit trade agreements to
Congress without giving members of Congress the occasion to revise the deal.
Experience has shown that these trade deals have resulted in massive job losses
for American workers,

Center for Immigration
Studies Director of Research, Steven Camarota, used wage data provided by the
American Community Survey (ACS) conducted by the U.S. Census Bureau, as
evidence that there is no labor shortage in H-2B visa occupations, which were
increased in the recently passed omnibus spending bill.

According to the ACS wages
in most of the top occupations that use the H-2B visa to import foreign workers
have been in decline from 2007-2014. There was a slight increase in wages for
construction laborers but only the maid and housekeeping occupations showed a
significant wage increase. Director Camarota writes that this shows that there
is no labor shortage since wages would rise considerably as employers try to enlist
new workers.

The labor shortage argument
was used by the new Speaker of the House, Paul Ryan (R-Wisc.), to support the
provision in the omnibus spending bill that could quadruple the number of H-2B foreign
workers in the U.S.

The omnibus bill provision
allows any foreign worker who has received an H-2B visa in the last three years
to be excluded from the 66,000 H-2B visa cap. This could raise the number of
H-2B visa workers in the U.S. to around 264,000.

The H-2B visa was designed
to bring in low-skilled, temporary, and seasonal workers. This provision would
increase the job competition for some of America’s most vulnerable families during a
time when jobs are still hard to find for lower skilled jobs. Employers like to
hire H-2B workers because their visa is tied to to the company, which prevents
many from complaining or unionizing when mistreated. Recently Buzzfeed did
an expose on the H-2B visa and how it
replaces American workers and exploits foreign workers.

Want the truth in US and
foreign news then go to ONE AMERICAN NEWS NETWORK, http://www.oann.com/ on cable TV or Internet; a
family runs broadcasting station that gives you the fact, not the Republican or
Democratic agendas.