[Rhodes22-list] Brad - A little more on CRAs

[Brad Haslett]

Wally, you have turned this into a personal attack as you have in the
past - age old debating technique.

This is becoming a bit like discussing a crack whore who died of a
heroin overdose.  "See, crack is OK, it was heroin that killed her".

What are you defending here?  CRA?  "Fine, yes sir, let me have three
more bags full, sir."

Subprime loans default at a higher rate than conforming loans.  Fact!
You want to parse whether subprimes originated specifically by CRA or
CRA clones are the culprit. This is like determining which end of the
turd smells the worst.

What numbers do you have?  None!  Let me restate the problem.  Lenders
were forced to take on higher risks.  Fannie and Freddie made the
market for these risks.  Wall Street got in on the action.  Dispute
these facts.

I'd much rather you be a lurker than a drive-by poster.

Brad


On Tue, Sep 30, 2008 at 1:45 PM, TN Rhodey <tnrhodey at gmail.com> wrote:
> Brad, Ha ha ha...A little testy huh?  It is not my fault you make claims
> that you can't support. It is not my fault you can't keep track of this
> thread either. Something isn't true just because  Brad say it is.
>
>  I am beginning to remember why I bailed out of the politics on this list.
> Folks can say and post what ever they want and that is all well and good.
> Heaven forbid you actually ask some one to provide a little data to support
> their claims. I asked you for data on CRA default rates several times and
> you produced nothing so why should one believe you? I guess it is just best
> to drop this...you can go on beliving CRAs have a higher default rate than
> normal subprime and that thay they were a leading cause of this problem.
>
> Based on numbers I saw a year ago this is just flat wrong. I just asked if
> you had anything more current. It turns out you don't have jack and I can
> see asking you to actually prove what you say is not to your liking.
>
> Me thinks i will go back to lurk mode.
>
>
>
>
> On Tue, Sep 30, 2008 at 1:37 PM, Brad Haslett <flybrad at gmail.com> wrote:
>
>> Wally,
>>
>> I'm not the friggen National statistician.  Someone has to call a halt
>> to this circle jerk and I'll do it first.  What exactly was your
>> point? This was a bubble, yes?  The bubble was caused by lax lending,
>> yes?  Who created the lax lending practices?  I assert that it started
>> with CRA.  And you assert what?  Please do explain to us all with your
>> infinite wisdom how we got where we are.  Here's my explanation of
>> every airplane crash since 1903.  Gravity!
>>
>> Brad
>>
>> On Tue, Sep 30, 2008 at 12:14 PM, TN Rhodey <tnrhodey at gmail.com> wrote:
>> > Brad, So you still got no numbers huh...what I figured. Frankly you
>> trying
>> > to explain (to me) how the mortgage crisis happened is like me trying to
>> > explain (to you) the cause of a plane crash. Like many you hear a bite on
>> > the web and you latch on to it because it sounds good.
>> >
>> > You make claims without numbers....why should one believe you? I sure
>> don't.
>> > Sorry but I will trust my real world job experience and actual data that
>> I
>> > have seen with my own eyes. You in turn can rely on wiki and your other
>> web
>> > sources. Good luck with that!!!
>> >
>> > Wally
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