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The banks can hold their breath longer than the dems can. The bank stocks are crashing, so they can't loan money unless its a sure thing. The economy is cratering because the dems don't get the risk-reward thing, maybe "credit ratings" are racist too....C'mon 2012...
The banks can hold their breath longer than the dems can. The bank stocks are crashing, so they can't loan money unless its a sure thing. The economy is cratering because the dems don't get the risk-reward thing, maybe "credit ratings" are racist too....C'mon 2012...
Bank stocks are crashing because of decades of overspending by American's fueled by cheap loans.. loans that American's cant repay now. It has nothing to do with Obama or the present politician (elected after 2008) since most of the over spending happened before that.
Wow, somehow charging a group that have shown to be riskier to give loan to is now RACIST. Well guest what- when a group be it teenage drivers or blacks that are far more likely to default on there loans they both are going to pay more. White teenagers or blacks looking for loans. The rules are what they're. Nothing racist about it...Of course blacks don't wish to be treated equally, but better or they will scream racist. BEAM ME UP SCOTTY!
Show us where Obama is making the banks make risky loans.
kyrzr, that is not what the act does. You are merely demagoguing is all. Show us where Obama is forcing banks to make bad loans.
Your posts fail to support the OP, Kyzr. The documents don't support the OP. Tis what tis.
Forbes is a very reputable magazine relating to business issues. You have done nothing but deny obvious facts. This isn't a "Monty Python" skit about "an argument" v. "contradiction". Thanks for playing.The article is not reputable, and the points were not made that Obama was forcing bad loans. KYZR, words have meaning. Even Rush gets that, though he misuses them.
I don't have to deny that which is summarily not proven.
Quote verbatim where it says Obama is forcing bad loans.
As usual, there are a number of problems with the OP.
First, the opinion piece is from the WSJ, a self-acknowledged rightist publication.
Second, its an opinion piece, its speculation and as noted there are no facts presented, no documents cited establishing theres a war against lenders or that indeed the loans made have failed.
Third, the op-ed is predicated on the fallacy that minority borrowers are more prone to foreclose. Remember that the lending instruments provided minority and low income borrowers were a contrivance of the banks in an effort keep business going as home values skyrocketed. Most of the minority and low income borrowers entered into these agreements in good faith, believing they could refinance to a fixed APR in a few years when their homes values increased sufficiently. They, like the banks and the rest of us, did not foresee the housing market crash.
Finally, as noted in a much less hysterical and more objective analysis of the subject in the NY Times in January 2010, prior to the start of the investigations, the documented practice cited below used by lenders is more likely to cause foreclosure as opposed to the status of the borrower:
While past lending discrimination cases primarily focused on redlining a banks refusal to lend to qualified borrowers in minority areas the new push will instead center on a more recent phenomenon critics have called reverse redlining.
In reverse redlining, a mortgage brokerage or bank systematically singles out minority neighborhoods for loans with inferior terms like high up-front fees, high interest rates and lax underwriting practices. Because the original lender would typically resell such a loan after collecting its fees, it did not care about the risk of foreclosure.
Justice Dept. Fights Bias in Lending - NYTimes.com
In fact, therefore, the greater threat to increased foreclosures is the banks poor faith lending policies where junk mortgages are created and sold to blow up on someone elses doorstep. And the Administration is merely enforcing federal civil rights laws, prohibiting lending practices that have an adverse impact on minority borrowers.
Yet another non-issue from the right.
The OP is fail.
In essence, yes.
Lawyer scum always lie about the truth.
Typical of the rights response when they lose the debate personal attack.
I don't have to deny that which is summarily not proven.
Quote verbatim where it says Obama is forcing bad loans.
Did you bother to read the article? It is all over it. Try again.
"Talk about not learning from past mistakes: A government department is again intimidating banks into lending to minority borrowers at below-market rates, all in the name of combating "discrimination." Welcome to the next housing mess."
What a moron Obama is! The job is WAY over his head!
Mary Kissel: Justice's New War Against Lenders - WSJ.com
