My, you’re a nasty piece of fecal matter aren’t you?
We just had the government telling banks what compensation they can pay. We had Fannie and Freddie buying up every crap loan that banks could shovel into their coffers.
We had Fannie and Freddie buying up every crap loan that banks could shovel into their coffers.
I completely agree that this is an abomination, which has nothing to with capitalism. I also remember why Fannie and Freddie were buying these loans: they were ordered to do so by Congress: The Community Reinvestment Act of 1998, one of many attempts at social engineering, mandated an ever increasing proportion (52% in 2007) be issued to those who cannot afford them.
I am as appalled as you are when I see the government acting in this way. What I am against is inventing scapegoats. When there is wrongdoing on Wall Street, we should uncover it. But pinning government's actions and misuse of power on Wall Street or anybody else is simply false.
you’re a nasty piece of fecal matter aren’t you?
Nice to see your decorum and civility.
This tells me everything I needed to know about you.
Have a good night.