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Steve_Sailer's profile
Steve Sailer
Steve Sailer
Steve Sailer
@Steve_Sailer

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Steve Sailer

@Steve_Sailer

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unz.com/isteve
Joined October 2010

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    Steve Sailer‏ @Steve_Sailer Sep 13

    Steve Sailer Retweeted Matt Taibbi

    Root of 2008 crash was Bush housing policy. At 10/15/02 W.H. Conference on Increasing Minority Homeownership, Bush demanded 5.5 million more minority homeowners, told his fed regulators old credit standards like down payments & documentation are racist: http://takimag.com/article/the-wisdom-of-dan-quayle/#.W5r3PkZORLM.twitter …https://twitter.com/mtaibbi/status/1040351655504617472 …

    Steve Sailer added,

    Matt TaibbiVerified account @mtaibbi
    I’m going to cut you off: no. It had nothing to do with housing policy. It happened because new derivative products allowed junk-rated mortgages to be pooled and repackaged as AAA-rated securities. The loans were made en masse because they could be quickly resold for profit. https://twitter.com/snoopuhh/status/1040349343088291840 …
    4:51 PM - 13 Sep 2018
    • 112 Retweets
    • 296 Likes
    • Bridge at Remagen 🇺🇸 Cardoso Peres Jeremiah Simpson✈️🦀 Orion Avraam Debord 👻Mirin Wilson☠️ conejito armonia Mael Brigte's Severed Head Soren
    29 replies 112 retweets 296 likes
      1. Steve Sailer‏ @Steve_Sailer Sep 13

        It's crucial to note that GW Bush's role in Housing Bubble was not forcing cautious lenders to give more minority mortgages. Instead, Bush used Racial Equality rhetoric to discourage his fed regulators from reining in wild man lenders like Angelo Mozilo's Countrywide. @mtaibbi

        8 replies 29 retweets 110 likes
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      1. New conversation
      2. Larry Bartowski‏ @LarryBartowski Sep 13
        Replying to @Steve_Sailer

        Ha! As proof of his brilliant insight, he posts a link to an article HE wrote. That’s genius right there.

        1 reply 0 retweets 1 like
      3. Steve Sailer‏ @Steve_Sailer Sep 13
        Replying to @LarryBartowski

        My new article on how America's Diversity Infatuation was an overlooked root of the Housing Bubble/Bust comes with links to academic research on the very high default rates among Hispanics. Please check it out for yourself:http://takimag.com/article/the-wisdom-of-dan-quayle/#.W5shQQ5GJ24.twitter …

        1 reply 13 retweets 28 likes
      4. 1 more reply
      1. New conversation
      2.  🎃Tojo Yamamoto Fan 🎃‏ @bemoanthis Sep 13
        Replying to @Steve_Sailer

        W was a continuation of very early Clinton policy threatening mortgage lenders for "discriminatory lending" against minorities lacking the net worth of white Americans with similar incomes.

        2 replies 0 retweets 1 like
      3. Steve Sailer‏ @Steve_Sailer Sep 13
        Replying to @bemoanthis

        But a subtle distinction in housing policy was that Clinton punished banks pessimistic about lending to minorities, while GW Bush encouraged lenders optimistic about lending to minorities, especially Hispanics. So Clinton got GOP pushback, but nobody complained about Bush Push.

        0 replies 0 retweets 15 likes
      4. End of conversation
      1. New conversation
      2. Chuck Hinkle‏ @CLHinkle Sep 13
        Replying to @Steve_Sailer

        Wasn’t the root back in the 70s when the activists threatened to sue banks for not giving loans to unqualified borrowers? (That’s meant as a question and not a statement; I only know what I’ve read and been told about it.)

        1 reply 0 retweets 1 like
      3. Steve Sailer‏ @Steve_Sailer Sep 13
        Replying to @CLHinkle

        But when Democrats try to push for more loans to the Democrat base, Republicans are suspicious so scale was small. But the 2002-2004 Bush Push for more loans to minorities by reducing regulation wasn't protested by either party. Nor did lenders protest. Everybody was happy!

        0 replies 0 retweets 4 likes
      4. End of conversation
      1. New conversation
      2. The Ghost  🇮🇪 🇩🇪 ✈️‏ @GhostMegyn Sep 14
        Replying to @Steve_Sailer @vdare

        The hilarious part is the Democrats could EASILY have blamed him and republicans for the housing crash based on this but they couldn’t because they 100% support it.

        1 reply 0 retweets 1 like
      3. Gregory Cochran‏ @gcochran99 Sep 14
        Replying to @GhostMegyn @Steve_Sailer @vdare

        why would that stop them? Wagner ran for Mayor on a platform of 'cleaning up he mess in City Hall." As an incumbent. And won.

        1 reply 2 retweets 5 likes
      4. The Ghost  🇮🇪 🇩🇪 ✈️‏ @GhostMegyn Sep 14
        Replying to @gcochran99 @Steve_Sailer @vdare

        Hahaha

        0 replies 0 retweets 0 likes
      5. End of conversation
      1. Vincent‏ @VinPomodoro Sep 14
        Replying to @Steve_Sailer @bronzeagemantis

        Wait, so Hispanics ("which are naturally Conservative") got this sweetheart deal from W & still didn't pay or vote Republican. Ay, Dios mío!

        0 replies 0 retweets 7 likes
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      1. Magic Dirt Farmer™‏ @tacobowling Sep 14
        Replying to @Steve_Sailer

        The Community Reinvestment Act of 1977 (Carter) is the root of the problem. The Financial Services Modernization Act of 1999 (Clinton) made the problem worse. Bush screwed up, but others paved his path.

        0 replies 1 retweet 3 likes
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      1. J‏ @SalientQuips Sep 13
        Replying to @Steve_Sailer

        The housing crisis became a crisis of confidence/contagion because of derivatives allowing for leverage of fraudulently repackaged/misrepresented lower tranche products from Goldman to pensions etc. #Acorn planted the seed. #Goldman fertilized and watered the fraud.

        0 replies 0 retweets 8 likes
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      1. New conversation
      2. 𝐌𝐨𝐧𝐬𝐢𝐞𝐮𝐫 𝐁𝐨𝐮𝐯𝐚𝐫𝐝‏ @MonsieurBouvard Sep 13
        Replying to @Steve_Sailer

        Extending credit to the 𝗶𝗱𝗹𝗲 & 𝗾𝘂𝗮𝗿𝗿𝗲𝗹𝘀𝗼𝗺𝗲 as opposed to the 𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 & 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗼𝘂𝘀, as John Locke teaches, is a perilous fiscal & national policy: Madison recalls how debtors hate & seek to expropriate the accumulated wealth of the citizens.

        1 reply 1 retweet 5 likes
      3. 1 more reply
      1. New conversation
      2. Coyotecounsel‏ @Coyotecounsel2 Sep 14
        Replying to @Steve_Sailer

        In Taibbi’s earlier articles about the crash, I remember him referring to the Homeowners as unreliable meth heads. This characterization was dropped as the new angle of “POC Homeowners hardest hit” was developed

        1 reply 0 retweets 2 likes
      3. Coyotecounsel‏ @Coyotecounsel2 Sep 14
        Replying to @Coyotecounsel2 @Steve_Sailer

        “enough unemployed meth dealers willing to buy million-dollar homes for no money down”https://www.google.com/amp/s/www.rollingstone.com/politics/politics-news/how-wall-street-is-using-the-bailout-to-stage-a-revolution-177251/amp/ …

        0 replies 0 retweets 2 likes
      4. End of conversation
      1.  🎃 Silver Shamrock  🎃 Licensed Phrenologist  👻‏ @mlfoley Sep 13
        Replying to @Steve_Sailer @bronzeagemantis

        We can both agree that the problem are loans and usury. #smashusury

        0 replies 0 retweets 3 likes
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      1. DSA TERF Caucus‏ @DSATERFCaucus Sep 13
        Replying to @Steve_Sailer

        Strange comment from Taibbi. "It had nothing to do with housing. It was because of mortgages" He has been one of the better guys on the left so it's sad to see him engaging in the typical Orwellianisms

        0 replies 0 retweets 3 likes
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