Posted on 11/30/2016 10:22:52 AM PST by SeekAndFind
“If you get a loan for a car and then decide you don’t want to pay it anymore, that’s not the bank’s fault.”
The original lending bank was not the problem. They were just making the loans that Fannie and Freddie said F&F would purchase. And the loans the CRA pressured them into. So that’s on Fannie and Freddie and Congress.
Where the banks got re-involved and where they share some blame is when they started creating derivatives out of the tranches they bought from F&F.
“Good point, but will no doubt fall on deaf ears: If the crisis was limited to the value of the mortgages, the banks could have absorbed the losses, or plain old go bust without hurting the overall economy. But since they had been collateralized into garbage financial instruments like derivatives, eseentially bets on bets on bets...they had to be bailed out. And will be again.”
I know. I’m starting to thing the whole FDIC/bank regulatory thing has failed completely. Maybe we ought to be working a system where anyone can be a bank. Only requirements are daily financials posted online and then use things like yelp and rating services so that consumers can protect themselves. Some of the banks could have insurance for deposits and advertise that for risk averse consumers. Others could pay higher interest but not be as well insured.
They really like to call people names, don’t they.
The childishness displayed by democrats should convince everyone never to let them be in charge again.
——Didn’t she make a fortune off of buying foreclosed houses in Oklahoma?-——
And she made a bigger fortune building tepees
——Didn’t she make a fortune off of buying foreclosed houses in Oklahoma?-——
And she made a bigger fortune building tepees
Hmmm...maybe Lizzie is confusing Mnuchin with W and McShame.
No
Your question is not well done either
Appypappy reply is about perfect
Bundling has been around forever
Is it wrong for me to wish that she walks out in front of an MBTA bus?
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