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Old 01-06-2017, 05:14 PM #121
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Maybe someone else can explain it to you guys in language you understand:

"The Free Housing Market Enhancement Act also repeals the explicit grant of legal authority given to the Federal Reserve to purchase the debt of housing-related GSEs. GSEs are the only institutions besides the United States Treasury granted explicit statutory authority to monetize their debt through the Federal Reserve. This provision gives the GSEs a source of liquidity unavailable to their competitors.

Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges of Fannie, Freddie, and HLBB have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing. This reduces the efficacy of the entire market and thus reduces the standard of living of all Americans.

However, despite the long-term damage to the economy inflicted by the government’s interference in the housing market, the government’s policies of diverting capital to other uses creates a short-term boom in housing. Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing.

Perhaps the Federal Reserve can stave off the day of reckoning by purchasing GSE debt and pumping liquidity into the housing market, but this cannot hold off the inevitable drop in the housing market forever. In fact, postponing the necessary but painful market corrections will only deepen the inevitable fall. The more people invested in the market, the greater the effects across the economy when the bubble bursts.

No less an authority than Federal Reserve Chairman Alan Greenspan has expressed concern that government subsidies provided to the GSEs make investors underestimate the risk of investing in Fannie Mae and Freddie Mac."

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Yes, he said this years before the crash.....
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Old 01-06-2017, 05:19 PM #122
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Originally Posted by The Big Dunn View Post
It Wasn't Household Debt That Caused the Great Recession. It was how that debt was disproportionately distributed to Americaís most economically fragile communities.
Fyi, household debt isn't "distributed". It's taken on my solely by choice.

Those stupid ARM mortgages weren't forced on anyone. People who were economically ignorant choose to take them on. They had to pay for their ignorance, but sadly they made some of us smart people who didn't stupidly take on ARMs to suffer as well.

Heck, I myself was offered one around 2005-6 when I was looking for a new home. I immediately fired the realtor who suggested it.
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Old 01-06-2017, 08:01 PM #123
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Originally Posted by !WAR MIKEY! View Post
not impressed, would be impressed if they would have plans to invest the 1.3 billion into a plant in Michigan, instead they only committing half the amount they were going to commit into mexico into the U.S.
If you read the report they are upgrading an already existing facility
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Old 01-06-2017, 11:02 PM #124
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Yup, basically.


Will be interesting to see how the markets, and the other car manufacturers react.
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Old 01-08-2017, 10:16 AM #125
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Originally Posted by 1bad65 View Post
Wrong again.

And I'd just given you guys the correct answer!!!

Keeping up just isn't possible for you, is it.
I think it best to go with the conclusions of academics that study the recession rather than that of someone who dropped out of college.
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Old 01-08-2017, 12:03 PM #126
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Originally Posted by 1bad65 View Post
Fyi, household debt isn't "distributed". It's taken on my solely by choice.

Those stupid ARM mortgages weren't forced on anyone. People who were economically ignorant choose to take them on. They had to pay for their ignorance, but sadly they made some of us smart people who didn't stupidly take on ARMs to suffer as well.

Heck, I myself was offered one around 2005-6 when I was looking for a new home. I immediately fired the realtor who suggested it.
Should any blame be on the bankers?
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Old 01-08-2017, 01:21 PM #127
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Old 01-09-2017, 01:41 PM #128
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Originally Posted by The Big Dunn View Post
I think it best to go with the conclusions of academics that study the recession rather than that of someone who dropped out of college.
Still cant do better than a personal insult. Pathetic.


Plus, I cited a US Congressman. Might want to try a better pathetic excuse next time.
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Old 01-09-2017, 01:43 PM #129
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Originally Posted by siablo14 View Post
Should any blame be on the bankers?
For crimes? No. They committed no crimes. They offered up loans only an idiot would agree to, and sadly they found plenty of idiots to take the loans on.

Now I will say it's a disgrace they got Federal bailouts, but that's a different topic.

Like I said, I was offered one. I simply fired the realtor who suggested it and said 'No'. Why others didn't is beyond me.
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