> gmail.com> wrote in message
>
> news:7bda0b02-f71d-448e-a056-9ad6aee26b3e@a8g2000prf.googlegroups.com...
> On Sep 17, 6:53 pm, Robert Cohen msn.com> wrote:
>
>
>
>
>

>> On Sep 17, 8:52 pm, Fred Weiss papertig.com> wrote:

>

>>> On Sep 17, 9:31 am, Robert Cohen msn.com> wrote:

>

>>>> Theoretical Functions of Fannie & Freddie: To establish standards,
>>>> criteria for qualifications of loans, packages for securitizing
>>>> mortgage loans for investors, resales, STANDARDIZATION, facilitation

>

>>> I thought it was to help those who don't qualify and couldn't get
>>> mortgages - and to offer guarantees to banks to offer such
>>> (unjustified) loans. Banks had also separately been under considerable
>>> pressure to offer mortgages to unqualified applicants.

>

>>> This is a legacy of the New Deal under your hero, FDR.

>

>>>> ... mortgage brokers get their half percent (or whatever the
>>>> commission) if the buyer is a bad risk or good risk

>

>>> Isn't this precisely what gov't policy encouraged? Add to that
>>> flooding the market with easy credit in order to keep interest rates
>>> low.

>

>>> When I say something which is not in accord with "New Deal" philosophy
>>> you let me know.

>

>>>> If the the processes are flawed (nothing is foolproof), then one can
>>>> bet that flaws will be exploited by humans intent on getting their
>>>> interests, percentage, commission, fee. pay, graft, feathering their
>>>> own nest

>

>>> Banks as a rule don't exist to loan money to people who are poor
>>> risks. So why do you think that is precisely what they've done in
>>> recent years?

>

>>> Fred Weiss

>

>> re: HUD, FHA, VA, FANNIE, FREDDIE etal

>

>> As I interpret your point of view

>

>> Real estate loaning-facilitating is simply not a federal govt
>> function

>

>> Okay, I think I get your message

>

>> I can't argue with that kind of absolutist rationale

>

>> You're allowed to believe whatever you want

>

>> I'm not going to challenge your reactionary-regressive ideological--
>> idealistic & romantic--
>> convictions

>

>> I live here and now in the real world such as it is

>

>> If you could tell me of a libertarian actual model, or of an
>> Objectivist actual model, or even an unfettered marketplace today or
>> in history any time or location, then ...

>

>> I am pragmatist enough to go for what works- Hide quoted text -

>
> But I thought that was the question:
> what is the cause of the non-working
> order?  Is it really too much market?
> Or is it bad regulations?  Can I assume
> that the take in the IBD editorial is closer
> to the truth than "capitalism is to blame?"
> And, really, isn't capitalism, like global
> warming, to blame for every ill that befalls
> us?
>
> --------------------------------------
>
> SEAN:
>
> No SB, capitalism and global warming isn;t to blame for anything.
>
> People , individuals and groups, are responsible for what occurs in
> capitalism, and what happens in climate change GW to whatever degree is
> "real" vs spin.
>
> So when one individual, walks up to a door, and sells someone an
> unaffoldrable mortgage by stealth spin or outright lying, then one
> individual has basically cheated another in order to earn a living.
>
> This operates under the current illusion of a "capitalist system" but it is
> NOT Capitalism itself which is to blame here, merely what is allowed to
> operate within it with no recourse by individuals via a mechanism commonly
> known as "Law".
>
> IOW some indovoduals are unfortunately excluded from accessing Legal
> recoruse for harm donwe to them by other individuals.
>
> This in practice is what is commonly known as the "free market of capitalism
> under the democratic model of government".
>
> Sounds great, in theory .................. but by all means blame the Govt
> for fucking everything up according to the theory, and not the fraudulent
> salesman, the mortgage re-seller, the brokers, the hedge funds, the banks,
> the Fed, the SEC, the Treasury, or the policies of the politicians be they
> Repub or Demo. parties themselves.- Hide quoted text -
>
> - Show quoted text -