jcd11235

Do you have a specific criticism with respect to using the data from the fifteen most populous US metropolitan areas? Like I said, items 2 & 8. It may be politically expedient to blame the CRA, but the data do not support your conclusion. Ignore the data all you like; it won't change the fact that non-CRA banks had a substantially higher foreclosure rate than CRA banks. If you have data to the contrary, feel free to provide it for us. Math tutoring available. Only $6! per hour! First lesson: Factorials!

That doesn't matter when comparing foreclosure rates. I'm pointing out that the data do not support the assertion that the CRA has been harmful. The fact remains that "CRA Banks were substantially less likely than other lenders to make the kinds of risky home purchase loans that helped fuel the foreclosure crisis." (Traiger & Hinckley) Math tutoring available. Only $6! per hour! First lesson: Factorials!

You missed my point. People apply for mortgages, not geographic areas. That is true regardless of the location of the property being mortgaged. WRONG! The banks will cram what they can in to it to meet their quota. Are you suggesting that it was only by sheer luck that CRA banks have had significantly lower foreclosure rates than non-CRA lenders during this financial crisis? If not superior underwriting and not by luck, to what do you attribute the lower foreclosure rates? The criticism the CRA in this thread is beginning to remind me of items 2 & 8 in billvon's Conservative values for kids, circa 2009 list in another recent

Nonsense, the CRA REQUIRED banks to loan to areas where people could not qualify under normal methods. Nonsense. Areas don't qualify for mortgages. People do. Given their lower foreclosure rates, CRA banks have provably demonstrated more careful underwriting practices than non-CRA lenders. Your conclusion is not logically valid. Math tutoring available. Only $6! per hour! First lesson: Factorials!

That's like saying that without the telegraph, the automobile would have never been invented. You're assuming that because the CRA came first, that it is the cause the high risk loans. Where is your data supporting that assertion? Math tutoring available. Only $6! per hour! First lesson: Factorials!

It's not as complicated as it appears in text. See the attachment. V_t (V sub t) is terminal velocity in meters per second. m is mass in kilograms. g is acceleration due to gravity, approximately 9.8 meters per second per second. Rho (the greek letter that looks like an italicized lowercase p) is the air density (mass per unit of volume). A is the projected area of the object, in meters squared C_d (C sub d) is the drag coefficient of the object. Math tutoring available. Only $6! per hour! First lesson: Factorials!

With what do you support that opinion? Where in the CRA are high risk loans required? The market was flooded with high risk loans because their was an insatiable demand for mortgage backed securities. They would have existed without the CRA. In fact, the data suggests they would have been worse. The data refute the claims of the SanFran Fed. Let me know if you'd like some unbiased information sources on why the mortgage crisis really occurred. Blaming it on CRA, while conveniently partisan, isn't accurate. Math tutoring available. Only $6! per hour! First lesson: Factorials!

That's why they're called safety meetings. Math tutoring available. Only $6! per hour! First lesson: Factorials!

IIRC, he was on a break from training after the Olympics when that occured. I'm quite sure he has had a few more opportunities to party than I did at the same age. One of the heaviest smokers I've ever known ran 10 miles each way to work every day. He wasn't quite world class, but could run 2 miles in under 9 minutes. I've also known other very fit individuals who partook of the ganja during training. The effects wouldn't have been as detrimental as yo might have expected, your father notwithstanding. Nonetheless, it is kinda cool that you've gone this long in life while jumping at that DZ without ever seeing a bong! (You realize that once the word gets out, you'll get more invitations than you can handle!) Math tutoring available. Only $6! per hour! First lesson: Factorials!

Okay, that makes sense. That's how it was done from the very beginning of elementary school when I was a kid, IIRC. Math tutoring available. Only $6! per hour! First lesson: Factorials!

Okay, I'll bite. What is "whole language?" Math tutoring available. Only $6! per hour! First lesson: Factorials!

I do. The data doesn't lie. CRA was/is a good thing. Math tutoring available. Only $6! per hour! First lesson: Factorials!

Before the CRA those loans did not exist. That doesn't mean that the demand for MBS's didn't drive the market for them. CRA banks had a lower rate of foreclosures than non-CRA banks. At the end of the day, that is the most important consideration. Math tutoring available. Only $6! per hour! First lesson: Factorials!

Smoking a joint is to sipping a beer as a bong hit is to slamming down a couple shots of 151. Using a bong can also be less wasteful, since the herb doesn't burn away between hits as badly. Weren't you the one who mentioned Michael Phelps? They've stopped experimenting. They know how it works and what they do. Now they use drugs 'cause they like 'em. Math tutoring available. Only $6! per hour! First lesson: Factorials!

The CRA didn't create the demand for higher risk loans. That was done by the insatiable demand of mortgage backed securities flooding the market with an overabundant supply of higher risk (e.g. stated income, NINA) loans. CRA banks were, overall, less likely to resell their mortgages than non-CRA lenders, which ensured that they were more careful in their underwriting, as evidenced by their lower foreclosure rates. That may not be what the San Fran Fed said, but that's what the data says. I'll believe real data over the Fed's editorializing comments anytime. Math tutoring available. Only $6! per hour! First lesson: Factorials!

I can't believe that many people have never seen a bong firsthand. ==`O

Move to Florida. There's always new faces showing up, and, sooner or later, you might meet one you want to stick with a while. Or, you might get sick of dating skydivers. Either way, you'll get to jump year round. Math tutoring available. Only $6! per hour! First lesson: Factorials!

E, because it's the only one that has a person attached. The rest are like Szambotis on the wall. What do I win? This is my rifle. There are many like it, but this one is MINE. My rifle is my best friend. It is my life. I must master it as I must master my life. My rifle without me is useless … Math tutoring available. Only $6! per hour! First lesson: Factorials!

When I was in fifth or sixth grade, many years ago, new math was the term that was used to introduce students to the concept of algebraic variables sooner than previously done. For example: Old math: 3+7=__ New math 3+7=x, solve for x. Or, 3·n=12, solve for n. It was arithmetic taught algebraically to get students used to the concept of variables and equation manipulation. It was considered "new" because a lot of parents were from an era when reading, writing, and arithmetic was enough to prepare you for life, not just middle school, and they had very little, if any, exposure to algebraic variables. I've always assumed what my school considered new math was the same as the new math I heard about later in life, but I could be wrong. Now, as I understand, mathematics is taught using basic algebraic notation from nearly the beginning. Math tutoring available. Only $6! per hour! First lesson: Factorials!

From the study I previously linked too. "Compared to other lenders in their assessment areas, CRA Banks were less likely to make a high cost loan, charged less for the high cost loans that were made, and were substantially more likely to eschew the secondary market and hold high cost and other loans in portfolio. Moreover, branch availability is a key element of CRA compliance, and foreclosure rates were lower in metropolitan areas with proportionately greater numbers of bank branches." From Traigler & Hinkley's 2009 report (emphasis mine): Critics of the CRA claim that the law compels banks to downgrade their credit standards in order to make mortgage loans to unqualified LMI borrowers. We hypothesized that if this was true, lending data from 2007, a time of tightened underwriting standards and regulatory emphasis on safety and soundness, would show significantly diminished lending to LMI borrowers by CRA-subject banks. Instead, our analysis of 2007 data indicates that the percentage of LMI applications that were originated by CRA-subject banks remained stable even in the climate of heightened scrutiny and wariness that prevailed. This finding contradicts the notion that compliance with the CRA is dependent on imprudent lending. Thus, we conclude that the CRA cannot be rationally blamed for current problems in the mortgage market, much less for the U.S. financial crisis. That CRA-subject banks continue to make mortgage loans to LMI borrowers while simultaneously strengthening their underwriting standards not only contradicts the claims of critics who blame the CRA for our present crisis, but also suggests that without the 32-year-old law, the home mortgage market might be in even worse condition. This suggestion is reinforced by our 2008 study, which showed CRA-subject banks were substantially less likely than other lenders to engage in the risky lending practices that helped fuel the foreclosure crisis. Moreover, a recent Federal Reserve Bank of San Francisco review of LMI lending found “the CRA, and particularly its emphasis on loans made within a lender’s assessment area, helped to ensure responsible lending, even during a period of overall declines in underwriting standards.”8 Finally, critics have chosen a particularly inauspicious time to attack the CRA. We are currently in the midst of a crisis that has Congress and the Executive Branch, including the Treasury Department and banking regulators, working to stimulate the economy and free-up credit. Right now, the CRA, a law that has spurred responsible lending to underserved borrowers, looks like a particularly wise and inspired piece of legislation. Indeed, policy makers should consider looking to the CRA for guidance on how the government can spur responsible lending to other qualified borrowers. No one is suggesting that CRA banks were immune from foreclosures. But the fact remains that the CRA banks made loans that contributed to those foreclosures at a much lower rate than non-CRA lenders. CRA is a [I]good thing. CRA banks practiced more conservative underwriting than non-CRA lenders in part because they kept more of the mortgages that they approved in their own portfolios; they were concerned about borrowers being able to make payments for longer than a few months. Math tutoring available. Only $6! per hour! First lesson: Factorials!

That's the assumption I made. Math tutoring available. Only $6! per hour! First lesson: Factorials!

Community Reinvestment Act Why do you consider the Community Reinvestment Act a fiscal mistake? Evidence suggests "that without the CRA, the subprime crisis and related spike in foreclosures might have negatively impacted even more borrowers and neighborhoods." CRA Banks were substantially less likely than other lenders to make the kinds of risky home purchase loans that helped fuel the foreclosure crisis. … CRA Banks were significantly less likely than other lenders to make a high cost loan; The average APR on high cost loans originated by CRA Banks was appreciably lower than the average APR on high cost loans originated by other lenders; CRA Banks were more than twice as likely as other lenders to retain originated loans in their portfolio; and Foreclosure rates were lower in [metropolitan statistical areas] with greater concentrations of bank branches. … There is a very high statistical correlation (0.816) between the proportion of lending that is high cost and the foreclosure rate in the MSAs analyzed. … Overall, CRA Banks were 66 percent less likely than other lenders to originate a high cost loan. … Overall, CRA Banks were 58 percent less likely than other lenders to originate high cost loans to [Low- and Moderate-Income Borrowers] borrowers. … Overall, the average high cost loan made by CRA Banks was priced 68 basis points lower than the average high cost loan originated by other lenders. … Overall, high cost loans made by CRA Banks to LMI borrowers were priced 74 basis points lower than high cost loans originated to LMI borrowers by other lenders. … CRA Banks were more than twice as likely as other lenders to retain originated loans in their portfolio. … Foreclosure rates are obviously impacted by a range of economic and demographic factors, including, according to the Federal Reserve Bank of Boston, housing prices and unemployment rates. However, the negative correlation between bank branch concentration and foreclosure rate was substantially higher in absolute value than the correlation between foreclosure rate and unemployment rate (0.574) and slightly higher in absolute value than the negative correlation between foreclosure rate and change in housing prices (-0.721). A bank’s CRA responsibilities to a community emanate from the presence of a branch there and, as noted above, a bank’s record of serving the credit needs of LMI borrowers in its community is arguably the most important facet of CRA compliance. In addition, CRA examinations assess a bank’s distribution of branches and its "record of opening and closing branches, particularly branches located in LMI geographies or primarily serving LMI individuals." … The CRA’s mandate to serve local communities may, albeit indirectly, encourage CRA Banks to more closely scrutinize the creditworthiness of borrowers who submit loan applications at their assessment area branches. The more loans a CRA Bank makes in its assessment area, especially to LMI borrowers, the greater the likelihood that examiners will conclude it is fulfilling its CRA obligations. Therefore, in order to compete with other lenders in their CRA assessment area, CRA Banks may price loans more aggressively there. Heightened scrutiny of a borrower’s creditworthiness minimizes the likelihood of mistaking a person with good credit as a poor credit risk. It may also have the collateral effect of reducing the likelihood that a CRA Bank would inadvertently offer higher cost loans to prospective borrowers who actually qualify for less expensive loans. The lower loan rates, and the fact that creditworthiness has been thoroughly investigated before the loan is approved, may also contribute to the lower foreclosure rates associated with these loans. Source Math tutoring available. Only $6! per hour! First lesson: Factorials!

I've been using CSS based ad blocking in Safari and other browsers that support CSS with a high rate of success. It doesn't stop everything, but it blocks most ads. I can PM you a copy of the CSS file I use if you want to try it. It doesn't need to be installed; just place it in a folder somewhere and tell Safari where it is. Math tutoring available. Only $6! per hour! First lesson: Factorials!

Blow really isn't known for stimulating the appetite. You might be able to come up with some creative uses for the BBQ sauce, though. Math tutoring available. Only $6! per hour! First lesson: Factorials!

Supporting competition is not the same as supporting the compromising of your personal ideals. So, you would agree that some things are best not left to competition and a free market, right? Math tutoring available. Only $6! per hour! First lesson: Factorials!