Back in time with Fannie Mae

Yes. The answer is yes.
But if Democrats are going to point at lack of regulation as a problem -- in their eyes, as THE problem -- then it's also germane to point out that banks were under enormous pressure to write mortgage loans to people who weren't qualified to pay them back. Banks that declined to engage in this business, or that did so sparingly, have been publicly accused of biased business practices. Why does no one want to embrace that as a core problem? Because it does not fit those whose agendas lean toward the left.

 

We've been waiting weeks for that answer. Crickets, indeed.

 

But we have the official answer now: They were "publicly accused of biased business practices."

Well, that explains it.

Boss: "Sid, get in here. Why the hell are we approving a loan to a convicted felon who has been out of work for 2 years and has zero down payment and zero assets?"

Sid: "I didn't want us to be accused of biased business practices."

Boss: "Good job, Sid. Much better that we go bankrupt than to carry that stigma of being biased against people who can't pay back their loans."

 

Has Hondo had time yet to look into how much lower the market is today than on Bush's first day in office?

 

He inherited a recession from Clinton.

[/hondo]

 

Wrong.

The Community Reinvestment Act, which is what you are talking about, was weakened during the Bush years. Also, CRA banks are only responsible for about 1 in 4 of the sub-prime mortgages. Independent mortgage companies, which do not have to work under the guidelines of the CRA, wrote more sub-prime mortgages by a 2 to 1 margin compared to CRA banks.

If you're uninformed, it's better not to speak up.

http://www.prospect.org/cs/articles?article=did_liberals_cause_the_subprime_crisis

Here's some more:

http://www.slate.com/id/2201641/

 

Does that count as a threesome?

 

Damn that Democratic-ruled congress not being able to stop it (or at least according to GB-Hack's logic, they should have).

 

Actually, I'd vote for the blowjob chick over this group... nevertheless, we must soldier on