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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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    1. 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 …
      29 replies 112 retweets 296 likes
      Show this thread
      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

      4:55 PM - 13 Sep 2018
      • 29 Retweets
      • 110 Likes
      • Jack Kessel 🇺🇸🇬🇧🇫🇷 Admiral Americanus DodgUSA24 Penelope Maynard (((Deplorable))) Benjamin I. Espen R.B.Ramsey ABC Horse Lady Cornfield
      8 replies 29 retweets 110 likes
        1. New conversation
        2. Larry Bartowski‏ @LarryBartowski Sep 13
          Replying to @Steve_Sailer @mtaibbi

          Wait, I thought we are supposed to despise all of those regulators and their pesky regulations that handcuff a bull economy?

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

          It turns out that, whaddaya know, some degree of regulation of lending is a good thing to keep over-optimists from profiting wildly in the short run before blowing up the economy in the medium run. Bush's Deregulation in the Name of Diversity of mortgage lending was an example.

          0 replies 2 retweets 2 likes
        4. End of conversation
        1. New conversation
        2. Steel Age Chief‏ @RoteCaption Sep 14
          Replying to @Steve_Sailer @mtaibbi

          It’s like Matt has completely forgotten those mortgage ads we heard for no money down balloon loans, interest only loans, and no documentation “liars loans”. None of those products existed before 2002. Before, you had to have 10% down, banks preferred 20% or more.

          1 reply 1 retweet 3 likes
        3. Steel Age Chief‏ @RoteCaption Sep 14
          Replying to @RoteCaption @Steve_Sailer @mtaibbi

          Bush did this because he’d come to believe in magic home theory, where transforming minority renters into home owners would change their political allegiance from Democrat to Republican and cement his and Rove’s New Republican Majority.

          0 replies 0 retweets 2 likes
        4. End of conversation
        1. New conversation
        2. Caesar Ferraro‏ @FreeSoil20 Sep 13
          Replying to @Steve_Sailer @mtaibbi

          So you agree with the leftist narrative about the crises. It's funny because whenever leftists complain about these bad loans, they seem to forget that implicit in that complain, is that minorities with a poor market valuation should not be given loans to buy houses. lol

          1 reply 0 retweets 4 likes
        3. Caesar Ferraro‏ @FreeSoil20 Sep 13
          Replying to @FreeSoil20 @Steve_Sailer @mtaibbi

          But of course, creating more minority homeowners is a important leftist cause, so they have to talk about what happened without really talking about what happened.

          0 replies 0 retweets 3 likes
        4. End of conversation
        1. тelegraм тo мιaмι‏ @TGMtoMIA Sep 13
          Replying to @Steve_Sailer @mtaibbi

          We must also never forget an entire language, a discourse of defense was fashioned, in palatable Liberal terms naturally to explain the inevitable. i.e "Subprime" was thought too offensive, then "Predatory Lending" increased frequency of use in the American lexicon.

          0 replies 0 retweets 1 like
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        1. epobirs‏ @epobirs Sep 13
          Replying to @Steve_Sailer @mtaibbi

          It was many things, combining to allow rampant courting of disaster while all contributing told themselves a nice little story about how they were helping disadvantaged people.

          0 replies 0 retweets 1 like
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        1. New conversation
        2. Jim Berryman‏ @BerrymanJim Sep 13
          Replying to @Steve_Sailer @mtaibbi

          Matt seems to be in denial...

          1 reply 0 retweets 1 like
        3. 1 more reply
        1. John Cocktoastin‏ @wordCocktoastin Sep 14
          Replying to @Steve_Sailer @mtaibbi

          You should retweet this every hour on the hour.

          0 replies 0 retweets 0 likes
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        1. ukant200‏ @ukant200 Sep 13
          Replying to @Steve_Sailer @mtaibbi

          Sorry it was credit default swaps.

          0 replies 0 retweets 0 likes
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