Mikeoxenormous
Diamond Member
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- #121
25 People to Blame for the Financial Crisis - TIMENo lending standards were lowered by anyone in the government however the banks themselves lowered standards in order to sell a lot more mortgage bonds to meet the demand from a lot of investors.Poor people buying houses did not cause the meltdown. However let's look for a moment at the practice of redlining. It's where banks just draw a line around poor neighborhoods and refuse to lend there even if the applicant meets all other requirements. I take it you think this kind of thing is just fine.Barack Obama Lashes Out at Banks For Risky Mortgages in Weekly Address ...Forgets to Mention His Lawsuit Forced Banks to Ease Lending PracticesIt was Barnie Frank, Maxine Waters, and Chris Dodd, once again , who got US fucked in 2008.
No, it was big greedy banks.
I'm sorry I have to keep explaining this to you, but Barnie Frank wasn't the guy who took bad mortgages and sold them off as investments by lying about their value.
That was your boys at the big banks.These are unintended consequences when liberals get involved. They say they are FOR THE PEOPLE, but in the long run, the liberal elite bank owners, get the profits, and the little guy gets screwed.But Obama forgot to mention that he was the one who sued banks to force them to make loans to families who couldn’t afford them.
In 1994, Barack Obama was one of the plaintiffs in a class action lawsuit, alleging that Citibank had engaged in practices that discriminated against minorities. The lawsuit forced the bank to ease its lending practices.
Jamie Dimon - Wikipedia, the free encyclopediaJoe you hate big banks, but big banks are contributing to the diaper wearing candidate who has a vagina. Your interests don't matter , but Dimon's sure does. Maybe if you contributed more to the Clinton Crime Foundation, your voice might be heard.As head of JPMorgan Chase, Dimon oversaw the transfer of $25 billion in funds from the U.S. Treasury Department to the bank on October 28, 2008, under the Troubled Asset Relief Program (TARP).
Dimon donates primarily to the Democratic Party.
Depends on what was done to the requirements. Lowering a standard in order that more people qualify isn't necessarily a good thing so as not to hurt someone's feelings by telling them no.
www.belief.com/columnists/reformedchicksblabbing/2009/02/a-school-bus-driver-wants-bail.html
Funny how easily liberal forget the past.He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods.