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Thread: Ironic

  1. #1
    A.D. Miller's Avatar
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    Default Ironic

    This is really ironic when you consider that the NAHB is solely responsible for the formation of Fannie Mae, Freddie Mac, et al.

    New home appraisal rules stir industry backlash - USATODAY.com

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    Default Re: Ironic

    Quote Originally Posted by A.D. Miller View Post
    This is really ironic when you consider that the NAHB is solely responsible for the formation of Fannie Mae, Freddie Mac, et al.

    New home appraisal rules stir industry backlash - USATODAY.com

    Fannie Mae was created in 1938 as part of Franklin Delano Roosevelt's New Deal. The collapse of the national housing market in the wake of the Great Depression discouraged private lenders from investing in home loans. Fannie Mae was established in order to provide local banks with federal money to finance home mortgages in an attempt to raise levels of home ownership and the availability of affordable housing.


  3. #3
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    Default Re: Ironic

    Quote Originally Posted by Michael Larson View Post
    Fannie Mae was created in 1938 as part of Franklin Delano Roosevelt's New Deal. The collapse of the national housing market in the wake of the Great Depression discouraged private lenders from investing in home loans. Fannie Mae was established in order to provide local banks with federal money to finance home mortgages in an attempt to raise levels of home ownership and the availability of affordable housing.
    ML: Not a bad try for merely Googling the History News Network. But, as is often the case, your research only scratches the surface of the truth.

    Fannie Mae was promoted and finally formed in 1938 due to the ill effects the crumbling financial market was having upon the housing market prior to the Depression. Who do you suppose stood to gain the most from the passage of that legislation. Maybe the builders?

    Then, once the saber clashing in Europe culminated in the attack on Pearl Harbor in 1941, the prospects for the housing market looked once again grim. So do you think it was merely by chance that up popped the newly minted NAHB in 1942 to help protect builder interests?

    Afterward they quickly gained strength and in 1949 struck their first really knockout punch with the formation of the Housing Act of 1949 (FHA) and all of the mortgage financing machinery that entails.

    Since then they have grown to over 200,000 members with a 900-lb. gorilla for a lobby and continue to author such tomes as their Housing Policy for the 21st Century.

    And, again ironically, they are in no small way responsible for the current mortgage dilemma.

    As the old saying goes, follow the money.


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    Default Re: Ironic

    Quote Originally Posted by A.D. Miller View Post
    And, again ironically, they are in no small way responsible for the current mortgage dilemma.

    As the old saying goes, follow the money.
    Not to mention Barney Frank, Chris Dodd, Bill Clinton and Jimmy Carter and Alan Greenspan which noticed you didn't.


  5. #5
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    Default Re: Ironic

    Quote Originally Posted by Michael Larson View Post
    Not to mention Barney Frank, Chris Dodd, Bill Clinton and Jimmy Carter and Alan Greenspan which noticed you didn't.
    ML: No, it is not that I did not notice their culpability, but rather they were not the topic of conversation.

    As an aside please note that the NAHB was among 53 entities contributing the maximum of $250,000 to GWB in 2005.


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    Default Re: Ironic

    Quote Originally Posted by A.D. Miller View Post
    ML: No, it is not that I did not notice their culpability, but rather they were not the topic of conversation.

    As an aside please note that the NAHB was among 53 entities contributing the maximum of $250,000 to GWB in 2005.
    Some more fun facts:

    Builders and contractors traditionally support Republicans, giving 70 percent of their 2006 contributions to Republican candidates. However, Democratic bill co-sponsor Sen. Robert Menendez of New Jersey was the No. 1 recipient of funds from construction in 2006, receiving almost $1 million. Bill advocate Sen. Jon Kyl (R-Ariz.) ranked No. 6, receiving $439,000 from the industry last year, while Sen. Bob Corker (R-Tenn.), one of six legislators to ultimately bring the bill to a standstill, received $563,000.


  7. #7
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    Default Re: Ironic

    Quote Originally Posted by Michael Larson View Post
    Some more fun facts:

    Builders and contractors traditionally support Republicans, giving 70 percent of their 2006 contributions to Republican candidates. However, Democratic bill co-sponsor Sen. Robert Menendez of New Jersey was the No. 1 recipient of funds from construction in 2006, receiving almost $1 million. Bill advocate Sen. Jon Kyl (R-Ariz.) ranked No. 6, receiving $439,000 from the industry last year, while Sen. Bob Corker (R-Tenn.), one of six legislators to ultimately bring the bill to a standstill, received $563,000.
    ML: Yet more surface info from you.

    This is how it is done by Texans:

    Who is Bob Perry and why does he care about Minnesota politics? | Minnesota Public Radio NewsQ


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    Default Re: Ironic

    Quote Originally Posted by A.D. Miller View Post
    ML: Yet more surface info from you.

    This is how it is done by Texans:

    Who is Bob Perry and why does he care about Minnesota politics? | Minnesota Public Radio NewsQ
    Hey, I'm not the one making crazy wild***ed statements and then getting all hurt and nasty when they get challenged.

    Boo hoo.


  9. #9
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    Default Re: Ironic

    Quote Originally Posted by Michael Larson View Post
    Hey, I'm not the one making crazy wild***ed statements and then getting all hurt and nasty when they get challenged.

    Boo hoo.
    ML: Is that a threat?


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    Default Re: Ironic

    Quote Originally Posted by A.D. Miller View Post
    ML: Is that a threat?
    Only to your mental capacity.


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