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The poster above pointed out those people had no higher risk than the others and they were declined solely because of their race. Otherwise, how could you sue banks for making risk-based decisions solely? Banks make decisions based on risk volatility today.
Also look from another view, because the seller knew that banks were forced to lend the money to a buyer, they could get away with increasing the price, not fixing things that should be fixed.
[quote=InformedConsent;49681041]Actually, they can. But it hardly ever happens because the landlord almost always wants to be able to take the deduction while collecting the money in rent to pay for it.[/quote]
Actually, they can. But it hardly ever happens because the landlord almost always wants to be able to take the deduction while collecting the money in rent to pay for it.
Worse, because the seller knew that banks were forced to lend the money to a buyer, they could get away with increasing the price, not fixing things that should be fixed.
Ok, let's say that's true. This forced Citi to make high risk loans to these people. You think this alone PIONEERED the housing crisis? Back in 2008, I got qualified to buy a home. I was young, with a modest income, but you should've seen how hard my realtor and bank tried to convince me I could and SHOULD buy a $900k home on a $50k salary. That is what caused the crisis... not an isolated case.
It started with redlining and other people, yes because they didn't use common sense took the bait too. And good times rolled until it couldn't roll any longer. CRASH!
Eliminating redlining (treating people with the same qualifications differently based on race and where they were purchasing) had nothing to do with the crash or the crazy mess of loan products that saturated the market in the early and mid 2000's.
It didn't cause stated income or stated asset loans to take off. It didn't cause option Arm neg am loans to take off. Those were the loan products that really threw everything over the cliff and they had nothing to do with eliminating redlining.
yep, where politicians can feed the financially uneducated all kinds of bull (to get elected) and then when it comes crashing down point the finger at everyone else.
Eliminating redlining (treating people with the same qualifications differently based on race and where they were purchasing) had nothing to do with the crash or the crazy mess of loan products that saturated the market in the early and mid 2000's.
It didn't cause stated income or stated asset loans to take off. It didn't cause option Arm neg am loans to take off. Those were the loan products that really threw everything over the cliff and they had nothing to do with eliminating redlining.
Can you follow the bouncing ball of information that I posted? Obviously not.
Can you follow the bouncing ball of information that I posted? Obviously not.
One had nothing to do with the other. There were plenty of things that caused the mortgage crisis and the meltdown, each of them by itself was bad enough, all of them together led to a massive snowball and blowup. However, eliminating treating equally qualified people differently wasn't one of them.
I'm sorry, was he president 100 years ago? Does his policies no longer effect hard working Americans. Should we forget he even existed? Come on, use common sense.
Is this better?...
We can NOT continue to allow high COL and high tax states to reduce their contribution to federal coffers because their politician are out of control.
Debt: $20,178,425,198,787 and counting
Oh, the debt. So I assume you are completely against the drop in the top rate from 39.6% to 35%, right? Because as you know, that adds 2 trillion or so to the debt in 10 years.
One had nothing to do with the other. There were plenty of things that caused the mortgage crisis and the meltdown, each of them by itself was bad enough, all of them together led to a massive snowball and blowup. However, eliminating treating equally qualified people differently wasn't one of them.
Duh! LOL
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