Feds Announces New Rule To Compel Banks To Lend In Poor or Minority Areas (illegal, speech)

[andywire]

Originally Posted by paracord

Didn't we just see the effects of this in 2008?

Yes. They are going for a repeat. Plenty of people became fabulously rich as a result of the 2008 economic meltdown.

[hotkarl]

Originally Posted by scarabchuck

Rinse, wash, repeat....2008, hold my beer ! Let's go Brandon !

2008? More like 1929.

[TMSRetired]

Originally Posted by paracord

Didn't we just see the effects of this in 2008?

Yes but remember that this administration is Obama 2.0 so we're going to do it again.

[uggabugga]

Originally Posted by BugsyPal

Here we go!

https://www.politico.com/news/2023/1...-rule-00123150

https://www.axios.com/2023/10/24/red...new-bank-rules

Apparently previous legislation meant to combat low rates of banks lending in poor or minority areas isn't working. So Biden administration along with Federal Reserve is doubling down on prior bad bets.

"let's crash the banks and call it 'equity.'"
- vegetable xoe

[cw30000]

Originally Posted by beach43ofus

Anyone else remember the last time the Federal Gov't morons compelled banks to make home loans?

They caused the great housing crisis that was followed by bank collapses & recession.

These mental midgets in DC never learn.

Too big to failed. Solution, make them even bigger.

[remco67]

Of course they did, the Gov't is controlled by people who think everything is caused by Racism. Not as MLK said the content of one's character(in lets say building credit and paying your bills)is not so important as the color of your skin.

The failure of certain minority communities to succeed is also much easier to solve if you can just legislate it. Real problems such as lack of education, and valuing such education, lack of fathers in households, and lack of strong family units are much harder to deal with. Not all that dissimilar how the left keeps wanting to legislate Gun Regulations because that is far easier to do then actually deal with the criminals(who will ignore the law)who are the majority of those using the guns in violent crimes.

[scarabchuck]

Originally Posted by hotkarl

2008? More like 1929.

Okay, I'll take your word on it. That was a bit before my time.

[tamajane]

Originally Posted by BeerGeek40

Haven't we seen this play out once before?

Planned Destruction.

De ja freakin' vu.

I guess we just have to expect it. We just don't learn. Well WE do, those in charge just don't give a flip. Nothing happens to them when they destroy.

[TMSRetired]

In times of high inflation and high interest rates and the government is doing this ?

This is not a buyers market; home prices are inflated and mortgage rates are high.

The Fed is setting up Blacks for financial disaster.

[InformedConsent]

Originally Posted by TMSRetired

In times of high inflation and high interest rates and the government is doing this ?

This is not a buyers market; home prices are inflated and mortgage rates are high.

The Fed is setting up Blacks for financial disaster.

You forgot to add... again. The Fed Gov is setting up Blacks for financial disaster, again.