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I see no hand holding. I see Dems bending to the standard republican mantra of deregulation with absolutely no requirement to offer high risk, variable interest loans to high risk people. Perhaps you can be clearer...
These revisions with an effective starting date of January 31, 1995 were credited with substantially increasing the number and aggregate amount of loans to small businesses and to low- and moderate-income borrowers for home loans.
I don't think I can make it much clearer than that, the CRA mandated bank loans to low income borrowers. In other words "Make these loans, or else".
So because I may have a slightly differing view point it must be because "I have been told by someone else" You know your a real piece of work and a complete ass. I have NEVER said the banking institutions have no blame in the matter. However when the feds allowed the banks to become so corrupt, they hold a high degree of responsiblity. The Feds are there to PROTECT the American people from this type of problem, when they are asleep at the wheel than by God they have RESPONSIBILITY!!!!!!!!!!!!! You however are willing to give the feds a pass even though it is their policies that help create this finacial mess. Yaa your sooo fucking smart!!!!!!!!! Or is that what someone told you to say??????????Making it easier to bend the rules IS NOT AKIN TO BENDING THE FUCKING RULES FOR LENDERS OR MAKING THEM BEND THE RULES. If I make it easier to drive 5 hours in a shorter timeframe is it my fault that speeders, the CONSTANT, decide to drive 20 miles over the speed limit? No. It's not. Individuals, THE LENDERS, had choices to make and DECIDED to maximize their profit by extending risky loans to risky people. Blaming a politician for the individual choice of an individual business is laughable.
Indeed. there IS someone to blame: the fucking lenders who thought they'd make a quick buck after variable interest rates provided a bunch of foreclosed houses. So, please, before you knee jerk yourself another explanation that was fed to you by someone else you might wanna realize that I can probably talk shit better than you given that dim bulb flickering in and out above your head. Blaming those who deregulate for the actions of someone who abuses the system is both retarded and ironic insomuch that you'd accuse someone of having a narrow mind.
how about this!!!!!
Maybe just maybe right here is where the dems "held the hand of lenders"
No, not "or else". Being set aside for an income demographic doesn't mean to throw loans at high risk individuals. Risk is not figured merely according to income. Are you going to suggest that low income borrowers are wholly risky despite their credit history?
Subprime loans can offer an opportunity for borrowers with a less-than-ideal credit record to become a home owner. Borrowers may use this credit to purchase homes, or in the case of a cash-out refinance, finance other forms of spending such as purchasing a car, paying for living expenses, remodeling a home, or even paying down on a high interest credit card. However, due to the risk profile of the subprime borrower, this access to credit comes at the price of higher interest rates, increased fees and other increased costs. Subprime lending (and mortgages in particular) provide a method of "credit repair"; if borrowers maintain a good payment record, they should be able to refinance back onto mainstream rates after a period of time.
So because I may have a slightly differing view point it must be because "I have been told by someone else" You know your a real piece of work and a complete ass. I have NEVER said the banking institutions have no blame in the matter. However when the feds allowed the banks to become so corrupt, they hold a high degree of responsiblity. The Feds are there to PROTECT the American people from this type of problem, when they are asleep at the wheel than by God they have RESPONSIBILITY!!!!!!!!!!!!! You however are willing to give the feds a pass even though it is their policies that help create this finacial mess. Yaa your sooo fucking smart!!!!!!!!! Or is that what someone told you to say??????????
No, the FEDS are not the people who decided to give loans to risky people no more than the FEDS make Check Into Cash give cash loans to poor people. There was still discretion FOR LENDERS TO DECIDE WHOM THEY WOULD EXTEND LOANS TO. No, I'm willing to hold those who are actually accountable up for criticism rather than regurgitate like a bulimic fucking girl whatever has been fed to me. Trust me.. Your numerous punctuation conveys a point.. but probably not the one you think it does.
The CRA created the subprime market. Borrowers with a good credit history do not need subprime loans.
But were lenders MANDATED to give loans to risky borrowers. No, they were not. You can find "or else" where ever you want to see it. No one held a gun to lenders' heads and forced them to give a 100k loan to people who bankrupted 5 times and had part time, min. wage jobs.
But were lenders MANDATED to give loans to risky borrowers. No, they were not. You can find "or else" where ever you want to see it. No one held a gun to lenders' heads and forced them to give a 100k loan to people who bankrupted 5 times and had part time, min. wage jobs.
A vote for McCain/Palin is a vote against the fundamental principle of America, the right of the individual to lead their life privately without the government interfering.
A vote for McCain/Palin is a vote to continue the same economic policies that are destroying the middle class in America.
YouTube - Mccain Caught Lying(exposed on youtube) Worst Nightmare
America for Dummies: A vote for McCain/Palin is a vote to further marginalize science and progress in America by supporting creationism (religion) as science.
washingtonpost.com
Someday a child will ask why did you allow them to destroy the earth. A vote for McCain/Palin is a vote against Polar bears and the natural beauty of our nation.
A vote for McCain/Palin is a vote to destroy for future generations the natural beauty of Alaska and our coastlines.
McCain entered Annapolis through rich man affirmative action for the connected. A vote for McCain/Palin is a vote for the privileged class.
McCain/Palin are now agents of change, no more pristine coastlines, no more arctic wilderness, no more polar bears, no more whales, and no more books. Change!
Someday a child will ask why did my daddy die? I miss him. A vote for McCain/Palin is a vote to continue an illegal war.
"This is the Bush-McCain economy. Senator McCain may have forgotten, but President Bush already tried his economic policies and the results are not good. We have just been through a business cycle in which the wage of the typical worker and the typical working family fell. This is the first time that has ever happened."
The Whiner's Recession | CommonDreams.org
Lenders had the best incentive of all to make those loans - they knew that Freddie and Fannie (taxpayers) would buy the paper no matter what.
All of the commissions and none of the risk - What would you do?
-Joe
not steal the diamond just because it doesn't look like anyone is watching?
That sir, is what makes you a decent human being.
Unfortunately, decency was not a requirement of individuals and families to come out of the European conquest of this planet in control of powerful amounts of wealth.
Sucks, doesn't it?
-Joe
He's halfway decent. Needs help with his cigarette habit and his culinary taste though.
A vote for McCain/Palin is a vote against the fundamental principle of America, the right of the individual to lead their life privately without the government interfering.
