[Neidermeyer]

The banks pressured to make these ctapy loans knew they were crappy but were forced by government regulators enforcing the “Community Reinvestment Act” (look it up).
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MaryGonzo ,, you couldn’t be MORE WRONG ... Take a look at the heavy foreclosure areas ,, Florida , Nevada , California ... NONE HAD ANY SIGNIFICANT NUMBER OF CRA ordered loans ... The problem was that with a cost of money at 0% ,, and their risk at 0% because they pre-sold the loans off ,, and the ability to artificially inflate the market with bogus appraisals and by adding to the pool of buyers by lowering standards THE BANKS ARE FULLY TO BLAME FOR THIS CRISIS ...

GROW A BRAIN AND LOOK AT WHAT ACTUALLY HAPPENED.

[marygonzo]

You spew government propaganda. No one believes it.

[Post Toasties]

No, the banks are not, GSA's were required by HUD to purchase up to 50% or more of subprime loans. During the Clinton administration, the AG was threatening banks who didn't provide low income earners with 'liar loans' and the like with legal action. Activists such as 0bama sued and won against financial institutions like Citibank to guarantee a high proportion of their loand were subprime and offered to people unqualified to pay them.

Anybody who believes banks collectively lost their corporate minds starting in the '90's without being frog marched into it by Uncle Scam should buy a bridge from me. I have an extra good deal on several.