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Eliot Spitzer - Predatory Lenders' Partner in Crime - washingtonpost.comIn 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative. The OCC also promulgated new rules that prevented states from enforcing any of their own consumer protection laws against national banks. The federal government's actions were so egregious and so unprecedented that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules.
But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration in its goal of protecting the banks. In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation.
I'd forgotten about it.i remember the States screaming about this a few years back....
concentrate all the power into the hands of the corporate world for some personal gain
Eliot Spitzer - Predatory Lenders' Partner in Crime - washingtonpost.com
This article was written in February. The Bush administration prevented states from protecting their citizens from predatory lenders.
What exactly is Bush trying to do?
No doubt the current administration and congress all have to bear some responsibility for this mess. Too bad we all cant blame just one party huh? It would make this all so much easier.
oh such a good point.
I mean look at financial disaster under clinton.
Oh, it's the fault of both parties. But I think most of the fault is with Bush, his administration, and his yes men (GOP).No doubt the current administration and congress all have to bear some responsibility for this mess. Too bad we all cant blame just one party huh? It would make this all so much easier.
Oh, it's the fault of both parties. But I think most of the fault is with Bush, his administration, and his yes men (GOP).
Eliot Spitzer - Predatory Lenders' Partner in Crime - washingtonpost.com
This article was written in February. The Bush administration prevented states from protecting their citizens from predatory lenders.
What exactly is Bush trying to do?
Just make sure you call your representatives and tell them NO to this bailout.
Derivatives are the reason for the collapse. They allowed the lending of money without money to back it up. The same thing happened in 1929. Phil Gramm is to blame.
You gonna give him credit becuase it didnt blow while he was president ? What a joke.
hey ravi---if that makes you feel like a winner, go for it. It's not like everything hasnt been Bush's fault the whole time anyway.
oh clinton gotten blown...how old are you?
At the very least, to concentrate all the power into the hands of the corporate world for some personal gain for the GOP.
thanks.
and just to be clear about why it's bush and the stupid ass republicans faults
what the hell party do you think is in favor of no regulation?
huh?
excuse me?
please.
