@georgeob1,
georgeob1 wrote:
The rules of Cyclo's evidence game are quite interesting. Any source that disagrees with his fixed beliefs is automatically deemed invalid, regardless of the content of its information or argument. Conversely any information from a source he favors is, by definition, unimpeachable.
This is a gross exaggeration and untrue. Not only that, I have never indicated anything even resembling this in any of my posts.
This is just a lazy slur.
Quote:That the CRA encouraged increased numbers of loans to folks that would otherwise not qualify for them is crystal clear from the content and stated intent of the act itself. Despite this Cyclo continues with his categorical denial that the CRA could have in any way contributed to the increased incidence of unqualified, nonconforming loans that have been documented to have so rapidly fed the final stages of the housing bubble.
That's because my denial of that
is the truth, George. Loans handed out under the CRA program were much less likely to default than others. They are not the loans responsible for the housing market crash. This is a
well-documented fact.
Not only that, but blaming the financial crisis on the housing market crash - which is
inevitable in a cyclical market such as housing - is a pathetic excuse for actual analysis of the situation. It explains nothing about how our largest banks and financial trading houses all failed simultaneously. And neither you nor any other right-wing participant here has been able to adequately explain those events.
The same way that you were wrong a couple of pages ago, you're wrong now. I'm telling you this because I've read lots of analysis of the issue and have looked into the matter in some depth. It wasn't but two pages ago that you were apologizing for making gross factual errors while dripping condescending certitude in the posts immediately proceeding; are you sure you want to go here again so soon?
You should stay away from phrases like 'well-documented' if you don't ever intend to present, yaknow, documentation. At some point.
Cycloptichorn