Coal fired - Page 3 - PeachParts Mercedes-Benz Forum

cullennewsom · #31 09-24-2012, 03:16 PM

Quote:

Originally Posted by cmbdiesel

In the short game, but unfortunately, they give back....

How much of California's air pollution comes from China? - China Real Time Report - WSJ

TANSTAAFL

cmbdiesel · #32 09-24-2012, 03:21 PM

Quote:

Originally Posted by cullennewsom

TANSTAAFL

Had to look that one up....

Indeed there isn't, so I would likely side with the 'Let's not sell them coal' group.

Dudesky · #33 09-24-2012, 04:39 PM

Quote:

Originally Posted by MS Fowler

I did not say that the desire to own a home was greedy. I did say that part of the problem was people buying houses who did not qualify (using traditional guidelines). Those traditional guidelines existed for a reason--experience had shown that certain income levels are required to make the payments. ( It is also true that sometimes those guidelines were used for other reasons...)

If you are not aware of the political pressure put on lenders to make loans to unqualified people, then I cannot help you. It was pretty obvious. The whole Freddie/Fanny thing.

Here's a decent timeline of what transpired over years and administrations, not just Bush or Obama.

Quote:

Timeline of the Housing Crisis

These are the leading culprits who actually caused the subprime
mortgage collapse which then caused the current worldwide deep recession

1. Jimmy Carter pushed for and signed into law the
Community Reinvestment Act which forced banks to
lower their standards so that previously unqualified
people could get a mortgage.
2. Bill Clinton then doubled-down on the Community Reinvestment
Act and greatly lowered mortgage standards to
allow a lot more unqualified borrowers to get loans.
3. Bill Clinton’s Attorney General, Janet Reno, then intimidated
banks with threats of legal action if they
did not give loans to unqualified borrowers who
would not have the income to pay the loans back.
4. A member of the Clinton administration, Franklin Raines
was then put in charge of Fannie Mae by Bill Clinton. Fannie
Mae bought up a majority of the bad loans made by
banks to unqualified borrowers. Raines then falsified Fannie
Mae financial reports so he could collect bonuses
which totaled over $90 million for 5 years.
5. Senator Chris Dodd, head of the Senatorial Financial
Committee, suppressed efforts by President
George W. Bush and congressional Republicans to
rein in the corruption at Fannie Mae and Freddie Mac.
He got a very favorable loan by a bank associated
with Fannie Mae and Freddie Mac. He got large political
campaign contributions from Fannie Mae and
Freddie Mac.
6. Barney Frank, head of the House of Representatives
Banking Committee, also suppressed efforts by President
George W. Bush and Congressional Republicans to
investigate corruption at Fannie Mae and Freddie Mac.
7. Barack Obama, while he was an attorney, filed lawsuits
against banks on behalf of ACORN in order to
force banks to give loans to people who could not afford
to pay them back. Obama, while he was a U.S.
Senator, also suppressed efforts by President George
W. Bush and Republican Congressmen to investigate
and rein in Fannie Mae and Freddie Mac.

http://cesidio.com/Timeline-of-the-Housing-Crisis.php

Air&Road · #34 09-25-2012, 07:57 AM

Good synopsis Dude! Thanks for finding it for us.

spdrun · #35 09-25-2012, 09:02 AM

Sad - they could have given non-verification loans AND kept prices under control. How? Treat all non-verification loans as commercial, based on the property itself. If it couldn't be rented for at least 125% of PITI, the loan wouldn't happen.

MS Fowler · #36 09-25-2012, 09:20 AM

Quote:

Originally Posted by spdrun

Sad - they could have given non-verification loans AND kept prices under control. How? Treat all non-verification loans as commercial, based on the property itself. If it couldn't be rented for at least 125% of PITI, the loan wouldn't happen.

Too simple for a government guideline/ program. No way to divert funds to favored people.

Botnst · #37 09-25-2012, 05:07 PM

But, but, but, .... it discriminates against the poor! That's just mean.

spdrun · #38 09-25-2012, 05:31 PM

Quote:

Originally Posted by Botnst

But, but, but, .... it discriminates against the poor! That's just mean.

Actually, my idea would favor the poor. Rent/buy price ratios are normally highest in poorer areas.

Botnst · #39 09-25-2012, 11:34 PM

Now don't go getting all rational and shyte.

alamostation · #40 09-26-2012, 12:16 AM

Quote:

Originally Posted by spdrun

Better a bad economy than one based on selling a product whose extraction rapes the environment to a country who'll burn it and thus destroy the environment even more.

Economic progress (actually regress - coal is a 19th-century energy source) shouldn't take precedence over protection of Gaia.

What solar-powered Mercedes model do you drive?

layback40 · #41 09-26-2012, 03:31 AM

Quote:

Originally Posted by alamostation

What solar-powered Mercedes model do you drive?

He has 2 cars, actually he has 3 ! Its just that he has trouble counting past 2 !

spdrun · #42 09-26-2012, 03:09 PM

Quote:

Originally Posted by alamostation

What solar-powered Mercedes model do you drive?

I generally take the subway or the electric train, both of which are about 50% nuclear-powered, since about that % of the region's (downstate NY) electricity comes from nuclear reactors. As it should be.