[kiryandil]

As the young woman said to Joe Walsh:

"The banks lent money to people they knew couldn't afford it."

It's called "fraud". And the Banksters' lobbyists knew that they could "persuade" CONgress to pass the losses off to the taxpeasants.

That's just what they did. Imagine that.

[fr_freak]

"The banks lent money to people they knew couldn't afford it." It's called "fraud". And the Banksters' lobbyists knew that they could "persuade" CONgress to pass the losses off to the taxpeasants.

Have you heard of the Community Reinvestment Act passed in 1979? It all but forced banks to offer loans to high-risk people, or else risk being prosecuted themselves for "discrimination". The banks then said to Uncle Sugar, "Well, are you going to back us up when the inevitable defaults hit?" And Uncle Sugar said, "Of course we will. Utopia here we come!" And it all spiraled downhill from there.