Serious question for anyone who is a big fan of Brett Kavanaugh, and I mean this for real, this isn't supposed to be a "gotcha".

@SW-User I am too, usually the memes are being posted well before this number of replies.

@BlueMetalChick Holy cats, thank you for BA! 😁

@BlueMetalChick The ratings are manipulated in order to entice investors into purchasing the loans. The ratings do not affect the individual properties.

The only issue with the borrower is their credit rating.

@HoraceGreenley Do you not think that affecting the investor so too in turns affects the property.

This is the reason why these institutions pulled their early foreclosure tricks.

@BlueMetalChick No. First a lender has to agree to underwrite the mortgage. The underwriter will review the credit worthiness of the borrower. At this point, the only thing that matters is the borrower's credit rating, income, etc.

With the federal government guaranteeing the loan, loan underwriters would be willing to make a loan to subprime borrowers. If the borrower defaulted, Uncle Sam would make the underwriter whole. And let's face it, lenders only make money when they lend, so they will make the loan if they can.

Once the loan has been extended to the borrower, the underwriter may then wish to sell the loan. More properly, a portfolio of loans, which is the credit worthiness that the rating agencies gauge. But Standard and Poors is not involved until after the underwriter makes the loan and the loan is to be sold.

The consumer is the borrower buying the home. S&P is not involved in the individual mortgage.

Protecting the consumer means protecting the borrower from the underwriters. The ratings agencies are not involved in that transaction.

@BlueMetalChick Hmm. I'm not sure I've heard him say that? But okay.

@sarabee1995 It was in a tweet he posted. He said he has the "absolute right to pardon himself."

@BlueMetalChick Wow. That would be the end of the presidency as we know it. 🤦‍♀️

@SW-User Convincing people to vote against their own interests is an art form that's been around for centuries but it seems like post-WWII America has mastered it to the letter.

@BlueMetalChick Unfortunately.

@BlueMetalChick well of course. but to pay for it one probably needs the individual mandate--which causes me to go back and forth about it.

@BiasForAction The Affordable Care Act is actually a pretty standard republican healthcare system, it was proposed by Richard Nixon during his presidency, H.W. Bush praised it, and Newt Gingrich and Chuck Grassley were pushing for it in the 90's. So I was surprised when Obama decided to adopt it.

But I never expected him to support universal healthcare. He said he was not for single-payer during his campaign trail. Shockingly, it was Hillary Clinton who campaigned on single-payer in 2008.

@BlueMetalChick Hillary may have been right. A single payer system can probably force cost savings that we haven't seen under the ACA. In some respects, this is due to "death panels"--and end of life care is what costs us so much and what needs to be reformed.

@BiasForAction fuckin' lol
Kavanaugh Mr. "hundred kegs or bust".

@BiasForAction Or as Elizabeth Warren calls it "fire water".

@jackjjackson You've been shitposting that meme for like two weeks now. What the hell does it have to do with the Consumer Financial Protection Bureau?

Do you mind not shitposting on my thread?

Yeah you’re right. Kav is yesterday’s news. The CPB is extremely important and should have a bigger budget @BlueMetalChick

@jackjjackson That was my biggest concern. People were so preoccupied with the abortion issue though.

@TheOneyouwerewarnedabout Which is code language for you not knowing what that is or what it does but that's actually understandable considering you're not from America. I'd actually be surprised if someone outside the US followed American politics enough to have a strong opinion.