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What a crap attitude. We hose the world economy and you tell them to GF themselves? Oh wait, you're conservative. You guys always blame someone else for your own failures. This macho stuff gets old.
We are the light of the world. We should have out chit together. We should not allow brazen Wall Street criminals to run our country. We let that happen. No one else.
So tell me liberal, why hasn't Obama prosecuted one banker?
Seems like countries from Spain to Japan are trying to get their economies righted after being swamped by the financial tsunami coming out of the US housing and economic meltdown. Our tolerance of outright criminal behavior by Wall Street investment banks, and their predatory lending to home buyer (usually investors) who either could not or had not intention of ever paying off the loans has caused terrible misery around the world. Do you really think that the rest of the world is not cursing us daily?
In a global world of commerce, which out leaders have pushed for decades, the biggest economy must act as a model of discipline, ethical conduct, and competence. We failed the world. BIG TIME.
Does this bother you? If so, how do we avoid ever doing this again?
"Does this bother you?" No.
Please report back to us all of the thousands of people who signed their contracts, that were forced to do so at the "point of a gun".
Affirmative action in home loans... what could go wrong?
See above 1993 article.
LOL. If that was the case then you might want to ask yourself a few critical questions:
1. Why didn't the Republicans do away with it when they had the power to do so for 12 years?
2. Why did they fuel the fire and put lending on steroids by their own bills (40 of them) during the Bush admin?
What Bush admin did was CRA times 1000.
Last edited by Finn_Jarber; 09-24-2012 at 07:55 AM..
Disagree with the "hanging" part, but agree with the rest.
Weren't the banks pressured by the federal government at one point to loan money to people so they could buy houses? I mean, they could have said "no" at a certain point, but I seem to recall something about that. I'm surprised that people managed to take out such huge loans in the first place.
"Weren't the banks pressured by the federal government". Bingo!
The reason banks made these loans is BECAUSE they were forced to. The banks told the feds they couldn't "back up" the loans.That is when the fed took the loans from the bank and moved them up the line. Fannie Mae and Freddie Mac took over the loans relieving the banks of the responsibility.
Seems like countries from Spain to Japan are trying to get their economies righted after being swamped by the financial tsunami coming out of the US housing and economic meltdown. Our tolerance of outright criminal behavior by Wall Street investment banks, and their predatory lending to home buyer (usually investors) who either could not or had not intention of ever paying off the loans has caused terrible misery around the world. Do you really think that the rest of the world is not cursing us daily?
In a global world of commerce, which out leaders have pushed for decades, the biggest economy must act as a model of discipline, ethical conduct, and competence. We failed the world. BIG TIME.
Does this bother you? If so, how do we avoid ever doing this again?
Get out of the Wall St. schemes. Dump 401 K's and pressure the State Representative's (lol) to make tax laws that don't make people funnel it all to Wall St. criminal cartels.
Bank with small community banks or Credit Unions.
Stop using Bank Cards. It's their biggest profit stream.
Bush's mission to get 5.5 million low income minorities mortgages when they would not otherwise qualify for them.
Mobilizing the Private Sector: America's Homeownership Challenge
Establish a national goal of at least 5.5 million new minority homeowners before the end of the decade.
Challenge the private sector real estate and mortgage finance industries to dramatically increase their efforts to reduce the barriers to homeownership faced by minority families and to work with the nonprofit sector in a concerted effort to achieve this goal through national and local partnerships.
Convene a White House Conference on Increasing Minority Homeownership, to highlight the homeownership barriers faced by minorities and develop proposed solutions.
A substantial increase of at least $440 billion in the financial commitment made by the government-sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market;
Twenty-five different local initiatives to be undertaken across the nation, geared toward eliminating the specific homeownership barriers faced by minority families in those communities;
A commitment to raise $750 million in below-market-rate investments by 2007, which will work in collaboration with local homeownership initiatives and be targeted to heavily minority program areas;
Pursuing strategic partnerships in 20 top housing markets between homebuilders, lenders, local officials, and community leaders to develop approaches that address the local challenges to building homes for minority families living in urban centers;
Establishing of faith-based housing partnerships between the participants and at least 100 churches, mosques, synagogues, and other faith-based institutions;
Aggressively developing new mortgage products so that conventional market alternatives are available to combat the predatory loan products that are disproportionately targeted to minorities;
Creating new mortgage products to meet the unique needs of recent immigrants;
Dramatically expanding financial education efforts for minorities, providing financial counseling to at least 380,000 minority families, and taking measures at the local level to reduce predatory lending; and
Establishing multilingual, consumer-oriented internet Web sites designed to help minorities overcome barriers to homeownership, including creation of a central data bank of affordable housing programs made available to real estate agents when working with clients.
Please report back to us all of the thousands of people who signed their contracts, that were forced to do so at the "point of a gun".
You sign, you are responsible.
Not everyone that lost their homes were due to not being able to afford.
The domino effect brought down the middle class. Most builders and contractors, and all the support structures, including food service, and recreational destinations. The ripple effect is unreal. It will be what brings the whole country down. You may be next.
The scheme was designed to do, exactly what it did.
The liar loans brought down a robust, and healthy construction market.
It only takes a small hole to breach a large levy.
So tell me liberal, why hasn't Obama prosecuted one banker?
I'd like an answer to that, as well.
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