That's it? Your basis against the CRA is a partisan blog post? Really? The guy's article doesn't even lay the blame at the CRA's feet. It is more a commentary on Fannie and Freddie.
I am pretty disappointed. I expected that someone who has seen plenty of research would have shared something that counts for research. Something like http://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=4136 done by Minneapolis Federal Reserve Economists. or Comptroller of the Currency: http://www.occ.gov/ftp/release/2008-136.htm or FDIC Chairman Shelia Bair: http://www.fdic.gov/news/news/speeches/archives/2008/chairman/spdec1708.html -Matt On Feb 5, 2010, at 4:12 PM, Jeff Broadwick wrote: > Here is a nice timeline for anyone that wants to read it. I'm done with > this on-list: > > http://www.americanthinker.com/2008/10/what_really_happened_in_the_mo.html > > > Regards, > > Jeff > > > Jeff Broadwick > ImageStream > 800-813-5123 x106 (US/Can) > +1 574-935-8484 x106 (Int'l) > > -----Original Message----- > From: [email protected] [mailto:[email protected]] On > Behalf Of Matt Liotta > Sent: Friday, February 05, 2010 3:53 PM > To: WISPA General List > Subject: Re: [WISPA] Common Carrier or what: > TheFCC'sroleinregulationofnet-neutrality > > I won't attempt to prove a negative. It was you who made the claim CRA > caused the housing crisis. It is therefore incumbent on you to prove the > claim. This is especially true since you have provided no basis for your > claim. I have provided facts related to the CRA that have not been refuted > by you or anyone else.. > > Now then, here is your chance. Back up your claims. Refute the facts I have > provided. Provide at least a theory as to how the CRA caused the housing > crisis. > > -Matt > > On Feb 5, 2010, at 3:36 PM, Jeff Broadwick wrote: > >> I've seen plenty of research Matt. You ask for proof from me and >> you've provided none yourself. If you want to provide the basis for >> your statements and have an argument, let's have it. We'll probably >> have to do it off-list, since I'm sure everyone is getting tired of this, > as am I. >> >> >> Regards, >> >> Jeff >> >> >> Jeff Broadwick >> ImageStream >> 800-813-5123 x106 (US/Can) >> +1 574-935-8484 x106 (Int'l) >> >> -----Original Message----- >> From: [email protected] [mailto:[email protected]] >> On Behalf Of Matt Liotta >> Sent: Friday, February 05, 2010 3:29 PM >> To: WISPA General List >> Subject: Re: [WISPA] Common Carrier or what: The >> FCC'sroleinregulationofnet-neutrality >> >> What does your quip have to do with your earlier assertions regarding CRA? >> Is your response to facts that challenge your position to simply >> change the subject? I worry you formed your position without proper > research. >> >> -Matt >> >> On Feb 5, 2010, at 2:17 PM, Jeff Broadwick wrote: >> >>> Talk to a mortgage lender...they have all become agents for Fannie >>> and Freddie. Few of them do their own underwriting anymore. >>> >>> >>> Regards, >>> >>> Jeff >>> >>> >>> Jeff Broadwick >>> ImageStream >>> 800-813-5123 x106 (US/Can) >>> +1 574-935-8484 x106 (Int'l) >>> >>> -----Original Message----- >>> From: [email protected] [mailto:[email protected]] >>> On Behalf Of Matt Liotta >>> Sent: Friday, February 05, 2010 10:53 AM >>> To: WISPA General List >>> Subject: Re: [WISPA] Common Carrier or what: The FCC's >>> roleinregulationofnet-neutrality >>> >>> You keep make unsubstantiated claims. Where is your data? If you are >>> so sure of CRA's effect where is the data? I mean every bank must >>> disclose there numbers of CRA mortgages, so it is not hard to see >>> what percentage of the overall market they are. Further, banks also >>> publish what percentage of bad mortgages they have on the books. The >>> numbers are there and CRA is a fraction. Look it up. >>> >>> Remember, we are talking about subprime mortgages. in 2006, of the >>> top >>> 25 subprime lenders only 1 was subject to CRA. In fact, Fannie and >>> Freddie went from a high of 48 percentage of subprime loans in 2004 >>> to >>> 24 percent in 2006 because of the enormous private market for subprime. >>> >>> -Matt >>> >>> On Feb 5, 2010, at 10:39 AM, Jeff Broadwick wrote: >>> >>>> I'm really not interested in getting into a big hairy argument with >>>> you on-list Matt. The CRA DID have an effect, and the market >>>> created by Fannie and Freddie allowed the whole thing to happen. >>>> There are certainly other factors, but those are the two biggest. I >>>> will agree with you that there were plenty of stupid people with Cs >>>> in their titles that bellied up to the trough. >>>> >>>> >>>> Regards, >>>> >>>> Jeff >>>> >>>> >>>> Jeff Broadwick >>>> ImageStream >>>> 800-813-5123 x106 (US/Can) >>>> +1 574-935-8484 x106 (Int'l) >>>> >>>> -----Original Message----- >>>> From: [email protected] [mailto:[email protected]] >>>> On Behalf Of Matt Liotta >>>> Sent: Friday, February 05, 2010 10:13 AM >>>> To: WISPA General List >>>> Subject: Re: [WISPA] Common Carrier or what: The FCC's role >>>> inregulationofnet-neutrality >>>> >>>> >>>> On Feb 5, 2010, at 10:06 AM, Brad Belton wrote: >>>> >>>>> The underlying point still holds true; big government imposing >>>>> rules on lenders forcing them to lend to those that wouldn't have >>>>> normally >>>> qualified. >>>>> >>>> No, it in fact does not hold true. Since CRA mortgages were only a >>>> fraction of the bad mortgages it is logical to conclude the other >>>> bad mortgages would have still been made if there were no CRA mortgages. >>>> Further, it is reasonable to assume that if no CRA mortgages were >>>> made even more non-CRA mortgages would have been made given the >>>> additional >>> available capital. >>>> >>>> There is plenty of blame to go around; trying to pin it on one thing >>>> is a waste of time. >>>> >>>> -Matt >>>> >>>> >>>> -------------------------------------------------------------------- >>>> - >>>> - >>>> ------ >>>> ---- >>>> WISPA Wants You! 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