SVB's WOKE investments. Or "How Democrats Robbed a Bank in Silicon Valley

[reason10]

3 hours ago, robosmith said:

The OP admits SVB charitable donations were NOT the large causal factor of the failure.

"The point" was easy to miss cause it is BULLSHIT. What a bank does with it's PROFITS, like charitable  donations, is its business and OBVIOUSLY HELPED SVB's business grow.

Of course IF Trump had not eliminated regulations for "small" banks such as SVB, Dodd-Frank would have held their feet to the fire.

That is a LIE and you are a LIAR.

Dodd Frank helped  cause the 2008 crash.

LEGALLY ELECTED PRESIDENT TRUMP inherited a failing economy, expanded it to record levels and watched an unelected pedophile tank it.

[Aristides]

In 2022 First Republic had 150 billion in outstanding loans, of which 102 billion was in residential real estate and 34 billion in commercial real estate. I guess mortgages are now woke.

[BeaverFever]

3 hours ago, West said:

Even if your nonsensical, debunked claim against Donnie were true,  If these folks are "responsible investors" why do they need Donnie to tell them not to be woke slime balls? 

It’s not a debunked claim, trump signed the bill that deregulated banks like this. 
 

Nobody said they were “responsible investors” we are simply debunking your claims that “woke investing” somehow brought down the bank

[BeaverFever]

1 hour ago, reason10 said:

You are a LIAR.

https://www.investors.com/politics/editorials/obama-administration-fueling-another-subprime-mortgage-bubble/

Subprime Scandal: The administration is fueling another housing bubble by pushing lenders to finance homes for people who can't afford them. Pressure is coming from all corners of government. President Obama is worried about a plunge in new-home buying among minority borrowers with subprime credit scores. So he's using the Federal Housing Administration, for starters, to help finance failure.

In a reckless gambit, FHA is asking lenders to relax lending standards, while assuring them it will back home loans down to a 580 FICO score with a minimal down payment and high debt-to-income ratio.

"The obligation that I have is to ensure lenders using the FHA program are lending to as full a spectrum of the credit box as possible," FHA Commissioner Carol Galante recently said.

FHA's chief urging banks to underwrite subprime loans conjures up bad memories of Fannie Mae CEO Franklin Raines begging for more subprime loans before the crisis.

In fact, loans purchased, insured or guaranteed by either Fannie Mae or Freddie Mac, as well as FHA, are automatically designated "qualified mortgages" under new mortgage rules issued by the Consumer Financial Protection Bureau.

The new rule offers some legal protection to lenders pressured to make junk mortgages. Although FHA is the government's new anchor subprime program, Fannie and Freddie are still backing subprime mortgages.

Pressure to ease credit is coming from other federal agencies, including the Justice Department, which has threatened banks with lawsuits if they don't reinvest in minority communities hit hard by subprime foreclosures. It's ordered some lenders to open branches in recessed areas of Detroit and St. Louis and other cities with heavy subprime foreclosures.

What's more, the biggest mortgage lenders in the country, including Wells Fargo and Bank of America, are under federal mandates to advertise in minority media and offer loans to people on "public assistance."

The government is actually forcing them to target high-risk borrowers for 30-year debt under threat of prosecution. They have to adopt minority-friendly loan programs over the next several years or face investigation for discrimination.

Some of these programs include setting aside millions in prime mortgages for minorities who, according to government documents IBD has reviewed, would ordinarily not qualify for reasons including "the lack of required credit quality, income or down payment."

In effect, Justice is using private banks to carry out affirmative-action lending.

Obama's new credit-fairness police force is actively engaged in the administration's rebooted crusade to boost minority homeownership. CFPB coordinates investigations with Justice and HUD and participates in the Federal Interagency Task Force on Fair Lending.

As IBD also first reported, the little-known task force of bank regulators has dusted off a Clinton-era regulation known as the "Policy Statement on Discrimination in Lending," which warns lenders they have an obligation to be more "flexible" with minority homebuyers with weak credit to make up for "past discrimination."

It's the same result: unsustainable homeownership.

https://www.investors.com/politics/editorials/obama-launched-subprime-crisis-with-lawsuit/

 

Bush inherited a RECESSION, out of control oil price hikes, a ticking 911 time bomb that KKKlinton ignored, and the disastrous DODD/FRANK law which caused all the problems.

Grow a brain, numbnuts. You're WRONG AGAIN.

 

Lie. As point of fact Bush did NOT inherit a recession, and Dodd Frank was passed in 2010, genius 

 

The subprime meltdown and Great Recession was 2007 while  Bush had been in office for 6 years you can’t blame that on Clinton or a future president Obama.
 

Your link is to 10-year old article that FALSELY PREDICTED there would be another subprime meltdown under Obama (spoiler alert: it didn’t happen). Jeeze you MAGAs can you PLEASE try reading amd understanding your copypasta first? What are you 12 years old?

 

Florida Sobstitoot Teechur strikes again 

Edited March 17, 2023 by BeaverFever

[reason10]

Bush DID inherit a recession.

https://www.nationalreview.com/corner/what-bush-inherited-and-what-he-left-left-behind-victor-davis-hanson/

George W. Bush inherited a recession. He also inherited the Iraq no-fly zones, a Middle East boiling after the failed last-minute Clintonian rush for an imposed peace, an intelligence community wedded to the notion of Saddam’s WMD proliferation, a Congress on record supporting “regime change” in Iraq, a WMD program in Libya, a Syrian occupation of Lebanon, Osama bin Laden enjoying free rein in Taliban-controlled Afghanistan, a renegade Pakistan that had gone nuclear on Clinton’s watch with Dr. Khan in full export mode, and a pattern of appeasing radical Islam after its serial attacks (on the World Trade Center, the Khobar Towers, U.S. embassies, and the U.S.S. Cole).

https://www.dailysignal.com/2012/09/07/two-huge-flaws-in-the-legend-of-the-clinton-economy/

The second flaw marring the Clinton economic story is recession. President Clinton did not leave his successor a booming economy. He left President George W. Bush a recession. The recession began in March of 2001, two months after Clinton left office. Even the most rabid leftist cannot blame George Bush for the 2001 recession. It was the Clinton recession.

https://reason.com/2012/10/14/clintons-legacy-the-financial-and-housin/

Clinton, however, sowed the seeds of the Great Recession by helping to inflate the housing bubble, a key part of the financial debacle of 2007. But this wasn't because he (not George W. Bush) signed two financial deregulation bills. Although Clinton legalized interstate banking in 1994 and commercial/investment banking combinations in 1999, that had nothing to do with the meltdown.

And a big part of that was due to lawsuits from ACORN, which Barak Saddam Hussein worked for as a lawyer. So HIS fingerprints are one what happened.

https://www.investors.com/politics/editorials/fingerprints-of-obama-on-subprime-foreclosure-crisis/

First some background: Obama focused on "housing rights" when he worked as a lawyer-activist and community organizer in South Side Chicago. His mentor — the man who placed him in his first job there — was the father of the anti-redlining movement: John McKnight. He coined the term "redlining" to describe the mapping off of minority neighborhoods from home loans.

McKnight wrote a letter for Obama that helped him get into Harvard. After he graduated, he worked for a Chicago civil-rights law firm that worked closely with McKnight's radical Gamaliel Foundation and National People's Action, as well as Acorn, to solicit lending-discrimination cases.

At the time, NPA and Acorn were lobbying the Clinton administration to tighten enforcement of anti-redlining laws.

They also dispatched bus loads of goons trained by Obama to the doorsteps of bankers to demand more home loans for minorities. Acorn even crashed the lobby of Citibank's headquarters in New York and accused it of discriminating against blacks.

The pressure worked. In 1994, Clinton's top bank regulators signed a landmark anti-redlining policy that declared traditional mortgage underwriting standards racist and mandated banks apply easier lending rules for minorities.

Also that year, Attorney General Janet Reno and her aide Eric Holder filed a mortgage discrimination case against a Washington-area bank that forced it to target minority neighborhoods for subprime loans.

Reno and Holder also encouraged civil-rights lawyers like Obama to file local lending-bias cases against banks.

The next year, Obama led a class-action suit against Citibank on behalf of several Chicago minorities who claimed they were rejected for home loans because of the color of their skin. It was one of 11 such suits filed against the financial giant in Chicago and New York in the 1990s.

As first reported in Paul Sperry's "The Great American Bank Robbery," the plaintiffs' claim lacked merit. Factors other than race figured in the bank's decision to turn them down for loans.

One of Obama's clients had "inadequate collateral" and "an incomplete application," while another had "delinquent credit obligations and other adverse credit history."

Obama argued such facts miss the point: that Citibank's neutral underwriting criteria may have adversely impacted his clients as a class of people. He demanded it turn over loan files from the entire Chicago metro area to prove it regularly engaged in a pattern of discrimination.

The court didn't award him the files. But Citibank eventually settled, despite the weak case. Under the 1998 settlement, Citibank vowed to pay the alleged victims $1.4 million and launch a program to boost home lending to poor blacks in the metro area.

In the run-up to the crisis, Citibank underwrote thousands of shaky subprime mortgages to satisfy the court in Obama's case. Defaults were common. When home prices collapsed, most of the loans went bust.

His lead African-American client, Selma Buycks-Roberson, who was denied a loan due to bad credit and low income, got her mortgage only to default on it years later.

She got a foreclosure notice in 2008, according to The Daily Caller website, along with many of her Chicago neighbors.

By putting them on the hook for loans they couldn't pay, Obama did them no favors. Blacks have been hit hardest by foreclosures. But what does Obama care? The Caller reports he pocketed at least $23,000 from the Citibank case.

Today, he blames the devastating wealth drain in black communities on subprime mortgages. He says "greedy," "predatory" lenders tricked poor minorities into paying higher fees and interest rates.

But Obama was for subprime loans before he was against them. "Subprime loans started off as a good idea," he said as those loans began to sour in 2007.

Get someone with an education to actually the articles to you. They are Investors Business Daily, which is the most credible source in the universe when it comes to the economy. You apparently didn't read any of it. Or you're just too fcking STUPID.

Substitute teachers? Florida THIRD GRADERS are smarter than your dumb a$$.

[West]

45 minutes ago, BeaverFever said:

It’s not a debunked claim, trump signed the bill that deregulated banks like this. 
 

Nobody said they were “responsible investors” we are simply debunking your claims that “woke investing” somehow brought down the bank

That's whst THEY claim... socially responsible investors based on ESG

[reason10]

45 minutes ago, BeaverFever said:

 

Nobody said they were “responsible investors” we are simply debunking your claims that “woke investing” somehow brought down the bank

It’s not a debunked claim, trump signed the bill that deregulated banks like this. 

Deregulation didn't cause SVB to kill itself. The BIDEN INFLATION did that.

https://www.uspresidentialelectionnews.com/2023/03/svb-bank-collapse-bidens-mad-inflation-was-a-big-factor/

So what caused the rapid rate hikes? The worst inflation in 40 years. And what caused that? Profligate spending and money printing coming out of Washington — all while Joe Biden, Janet Yellen, and Jerome Powell assured us inflation was “transitory.”

I warned two years ago that pumping trillions of dollars of stimulus into an already hot economy was an unprecedented and likely dangerous experiment. But this was Bidenomics.

[BeaverFever]

1 hour ago, reason10 said:

Bush DID inherit a recession.

https://www.nationalreview.com/corner/what-bush-inherited-and-what-he-left-left-behind-victor-davis-hanson/

George W. Bush inherited a recession. He also inherited the Iraq no-fly zones, a Middle East boiling after the failed last-minute Clintonian rush for an imposed peace, an intelligence community wedded to the notion of Saddam’s WMD proliferation, a Congress on record supporting “regime change” in Iraq, a WMD program in Libya, a Syrian occupation of Lebanon, Osama bin Laden enjoying free rein in Taliban-controlled Afghanistan, a renegade Pakistan that had gone nuclear on Clinton’s watch with Dr. Khan in full export mode, and a pattern of appeasing radical Islam after its serial attacks (on the World Trade Center, the Khobar Towers, U.S. embassies, and the U.S.S. Cole).

https://www.dailysignal.com/2012/09/07/two-huge-flaws-in-the-legend-of-the-clinton-economy/

The second flaw marring the Clinton economic story is recession. President Clinton did not leave his successor a booming economy. He left President George W. Bush a recession. The recession began in March of 2001, two months after Clinton left office. Even the most rabid leftist cannot blame George Bush for the 2001 recession. It was the Clinton recession.

https://reason.com/2012/10/14/clintons-legacy-the-financial-and-housin/

Clinton, however, sowed the seeds of the Great Recession by helping to inflate the housing bubble, a key part of the financial debacle of 2007. But this wasn't because he (not George W. Bush) signed two financial deregulation bills. Although Clinton legalized interstate banking in 1994 and commercial/investment banking combinations in 1999, that had nothing to do with the meltdown.

And a big part of that was due to lawsuits from ACORN, which Barak Saddam Hussein worked for as a lawyer. So HIS fingerprints are one what happened.

https://www.investors.com/politics/editorials/fingerprints-of-obama-on-subprime-foreclosure-crisis/

First some background: Obama focused on "housing rights" when he worked as a lawyer-activist and community organizer in South Side Chicago. His mentor — the man who placed him in his first job there — was the father of the anti-redlining movement: John McKnight. He coined the term "redlining" to describe the mapping off of minority neighborhoods from home loans.

McKnight wrote a letter for Obama that helped him get into Harvard. After he graduated, he worked for a Chicago civil-rights law firm that worked closely with McKnight's radical Gamaliel Foundation and National People's Action, as well as Acorn, to solicit lending-discrimination cases.

At the time, NPA and Acorn were lobbying the Clinton administration to tighten enforcement of anti-redlining laws.

They also dispatched bus loads of goons trained by Obama to the doorsteps of bankers to demand more home loans for minorities. Acorn even crashed the lobby of Citibank's headquarters in New York and accused it of discriminating against blacks.

The pressure worked. In 1994, Clinton's top bank regulators signed a landmark anti-redlining policy that declared traditional mortgage underwriting standards racist and mandated banks apply easier lending rules for minorities.

Also that year, Attorney General Janet Reno and her aide Eric Holder filed a mortgage discrimination case against a Washington-area bank that forced it to target minority neighborhoods for subprime loans.

Reno and Holder also encouraged civil-rights lawyers like Obama to file local lending-bias cases against banks.

The next year, Obama led a class-action suit against Citibank on behalf of several Chicago minorities who claimed they were rejected for home loans because of the color of their skin. It was one of 11 such suits filed against the financial giant in Chicago and New York in the 1990s.

As first reported in Paul Sperry's "The Great American Bank Robbery," the plaintiffs' claim lacked merit. Factors other than race figured in the bank's decision to turn them down for loans.

One of Obama's clients had "inadequate collateral" and "an incomplete application," while another had "delinquent credit obligations and other adverse credit history."

Obama argued such facts miss the point: that Citibank's neutral underwriting criteria may have adversely impacted his clients as a class of people. He demanded it turn over loan files from the entire Chicago metro area to prove it regularly engaged in a pattern of discrimination.

The court didn't award him the files. But Citibank eventually settled, despite the weak case. Under the 1998 settlement, Citibank vowed to pay the alleged victims $1.4 million and launch a program to boost home lending to poor blacks in the metro area.

In the run-up to the crisis, Citibank underwrote thousands of shaky subprime mortgages to satisfy the court in Obama's case. Defaults were common. When home prices collapsed, most of the loans went bust.

His lead African-American client, Selma Buycks-Roberson, who was denied a loan due to bad credit and low income, got her mortgage only to default on it years later.

She got a foreclosure notice in 2008, according to The Daily Caller website, along with many of her Chicago neighbors.

By putting them on the hook for loans they couldn't pay, Obama did them no favors. Blacks have been hit hardest by foreclosures. But what does Obama care? The Caller reports he pocketed at least $23,000 from the Citibank case.

Today, he blames the devastating wealth drain in black communities on subprime mortgages. He says "greedy," "predatory" lenders tricked poor minorities into paying higher fees and interest rates.

But Obama was for subprime loans before he was against them. "Subprime loans started off as a good idea," he said as those loans began to sour in 2007.

Get someone with an education to actually the articles to you. They are Investors Business Daily, which is the most credible source in the universe when it comes to the economy. You apparently didn't read any of it. Or you're just too fcking STUPID.

Substitute teachers? Florida THIRD GRADERS are smarter than your dumb a$$.

Drivel from right wing propagandist hack sites. Presidents don’t cause recessions and you can’t blame a recession that started 6years after Bush took office AND under also under a Republican Congress on Clinton. 
 

Not to mention the obvious Saddam WMD lie from your post. The Bush administration completely invented the Saddam WMD story they didn’t “inherit” it. 
 

So now a young Obama, private community activist caused the Great Recession by rounding up “goons” to pressure bank into making bad loans??

 

You are simple. No wonder you don’t have a real job and live in the dumbest state.