Yep. Another thread he ran away from.

Has he decided he can’t answer the question at hand and now that his bullshit deflections have been destroyed he’s decided to move on and hope we forget about this?

Way back at the start of the thread, I noted that the Harvard student in the video asks about Mr. Frank’s role in the financial crisis, not his role in the failure of Freddie and Fannie. He seems to take it as given that the two are the same.

Mr. Tea makes precisely the same error, as does Mr. Caruso.

Awesome. Asperas FTW.

“Well, for starters, he probably should not have gotten into a romantic relationship with a top Fannie Mae executive while he was overseeing it.”

And you have evidence this affected his performance?

Wow. Barney Frank must be very good in bed.

“Red-lining” is a geographic prejudgment of everyone in that neighborhood. The prejudgment’s geographic boundaries just happened to often draw lines around racial group’s neighborhoods.

What the left tried to do and what the right wing has tried to undo (with the help of lying sociopaths like Jay Tea) was force companies to stop “red-lining.”

“Red-lining” is roughly analogous to refusing service, a ‘seat at the counter’, the right wing, through distraction techniques exercised by people like Jay Tea, have tried to keep the left from preventing “red-lining.”

What the left has tried to do, and what the right has tried to undo, is make sure every American citizen gets a seat at the financial services counter despite where they live (or how many of their neighbors are “those people”).

Part of the lefts attempts at forcing the financial industry to allow “those people” a seat at the financial table was done through the Community Reinvestment Act (CRA). It’s why the right was (is) trying to blame the CRA for the collapse.

Instead of the right wing being honest about their predatory bigotry, they obscure it with attacks on generic poor people or simplistic sloganeering that attacks certain other kinds of “those people,” in this case, Jay Tea’s casual and deceitful smear of Barney Frank.

That smear has become part of the right wing’s attack and it was that smear that was being pushed by the right wing college student in the video.

Lying is precisely the function he and most* of the other right wing trolls and writers and radio and tv and internet personalities provide for the Republicans: lies to cover up or excuse the right wing’s crimes.

So instead of discussing the right wing’s predatory ideology of deregulation being at the heart of the global financial collapse, Jay Tea has people spilling pixels to defend an ad hominem and completely dishonest attack on Barney Frank.

Unfortunately, it’s necessary to respond to sociopaths like Commentary Magazine‘s troll Jay Tea.

It’s the Jay Teas on the right that are the serpents that enabled the Republican Party’s decent into madness.

Several of the right wing trolls that lurk here are nothing like Jay Tea. Where Jay Tea is just a pathological liar, several of the other right wing trolls are just true believers, fanatics conned by snake oil salesmen paid by sociopaths like Podhoretz and Murdoch.

* There are some notable exceptions to the right wing’s brigade of chickenhawk media sociopaths. Many ended up either directly supporting the Democratic contender in 2008 or were carefully non-supportive of the Republican candidate.

Which explains why you do your best to ensure that happened.

This is just a fucking lie. Do you know Republicans were complaining about? The Democrats made it so you couldn’t set rates based on the neighbourhood the house was in.

You see, for a long time Blacks, Latinos, etc. were charged more for mortgages. This is racist. So the government stepped in and said, ‘You can’t charge someone more based on their race.’

So banks started charging more based on neighbourhoods. However, charging a Black person more because they live in a Black neighbourhood is still racist. Democrats changed that.

Republicans under the guise of ‘less regulations’ claimed this was forcing banks to make too many risky loans and sought to reverse the rules that were put into place to prevent discrimination based on race. I’ll let you come to your own conclusion why.

============================

So why did Freddie / Mae collapse? The two companies had rules restricting which loans they could get involved with. Namely, they had to be less expensive than the average for the area. However, when the subprime phase was at its peak and people were flipping houses practically hourly, the ‘average’ price climbed so high that mortgages that were too high for Fannie / Mac to deal with were now commonplace for them.

In other words, the subprime mess cause the demise of Freddie / Mac. NOT THE OTHER WAY AROUND.

Prove it. Prove Barney Frank did something wrong.

“Re: Frank’s obstruction.”

What obstruction?

“Re: Fannie and Freddie role. Feel free to argue how significant their collapse was, but no one can argue that 1) their failure was clearly foreseen by Republicans;”

No it wasn’t. What they were complaining about and what happened were practically unrelated.

“2) their failure was the first major element of the meltdown;”

No it wasn’t. Fannie / Mac fell because of large scale defaults.

“and 3) it certainly did NOT help the situation in the least.”

It was a symptom. Not a cause.

Funny, Jay, but do you know what? I can clearly argue one of them, and it’s the only one that has any bearing at all on what you’re trying to prove, which is 2: Their failure in August was the first major element.

No. It was Bear Stearns. In March.

The other two have nothing to do with what we’re talking about. The question was, “What could Barney Frank have done differently to stop the crisis.” Your answer was “Say different things about Fannie and Freddie.”

I’m asking again: is that all you’ve got?

Anyway, there isn’t an argument to be had about their role. They participated in a giant asset bubble and got brought down when it popped. They neither created the bubble nor were the first or biggest company to ride it to profit. That’s the role they had. What, exactly, is there to argue in that?

Thanks for the early-morning perk-me-up, Smiley and Jaim!

J.

That’s all you really need to know about him, and by proxy the modern Republican party. The limited mental capacity, the constant misdirection which they think passes for intelligence, and most glaringly the outrageous hypocrisy of these people is pretty hard to take. Then again, it’s also pretty amusing. Lil’ John Galts living in their mom’s basements, fancying themselves to be He-men of conservatism. Who endlessly supported a president who made the Fed bigger than ever and bankrupted the country, merely because he called himself a Republican and started pretending to be a cowboy after graduating from Yale and Harvard.

Gotcha sparky.

“as the majority, are responsible for everything.”

When the economy turns around, yes. In spite of Republicans “hoping he fails,” America will get back on track with the help of a meager four Republican senators.

I’m kind of flummoxed at having to explain politics to you, Jay — of course the party in charge gets the credit and the blame. This is why Bush II will go down in history as one of our worst presidents ever. And this is why the Republican party is transforming itself into a sort of political cult for aging white males living in the South.

How many times can you be wrong before you stop giving answers, Tea?

The better question would be – how many times can the Teabagger avoid answering questions and misrepresenting the facts, and still make comments here? I’m voting for the undefined concept known as infinity…

Jay Tea, April 8, 2009 at 6:24 am

Pity it’s untainted with anything resembling reality…

…says the teabagger who has never put a reality-based comment here. Project much?

How exactly do you conclude that the Republican’ts tried to fix this at least twice while they were running the country into the ground? More tax cuts? Less regulatory oversight of the financial institutions and their shell derivative games?

Morally and intellectually bankrupt Republican’ts still thinking they have the right to be considered paragons of virtue and integrity don’t cut it these days, son. Stick to sending OW goofy pictures. That’s about the only positive contribution I’ve ever seen you make on this site.

Got it.

That’s a very useful principle (and that’s a word that isn’t often used around Jaim) to remember now that the Republicans are in the minority… they’re blameless for everything that happens now, and the Democrats, as the majority, are responsible for everything.

Pity it’s untainted with anything resembling reality…

J.

That’s right — responsible.