| |
  
|
||||||||||
Who was it that pushed for bad loans?
Submitted by klemsonkiller on Thu, 09/18/2008 - 09:36
Curious to know, if anyone can help out, who was it that pushed the banks to make the bad loans? Elected officials? Was there a vote, are there records of this? Also who makes the final call on these recent buyouts? » |
|
|||||||||
The Daily Paul is a community website with no official affiliation with Ron Paul or his Presidential Committee. The content of posts and comments on the Daily Paul represent the opinions of the original poster, and are not endorsed, approved, or otherwise representative of the opinions of the Daily Paul, its owner, site moderators or Ron Paul. This site may contain adult language and adult concepts. If you are offended by such content, or feel you may be offended by such content, point your browser to a different site IMMEDIATELY. For more, read the Full Disclaimer
© 2007 - 2011 by The Daily Paul. Not paid for by, nor officially affiliated in any way with Ron Paul. | General Site Disclaimer | DMCA Disclaimer | Advertise here
AUGUST 31, 2004: Thanks to President Bush's leadership,
more people than ever own their home. And, more than half of minorities are now home owners -- the highest level in history.
The President's American Dream Downpayment Act is helping people overcome one of the biggest hurdles to being a homeowner -- finding the money for a downpayment.
Since the President announced his plan in 2002, more than 1.6 million minorities have become homeowners.
http://www.presidentialrh...
"Evil flourishes when good men do nothing."
—Edmund Burke
A Republic, If You Can Keep It
The Presidents ADD Act?
Can the blame really be put on this, it gave government grants to those with lower income right? Why did the banks and mortgage companys do the same?
People with bad credit got loans
Loans which they obviously could not payback. Why did that happen, why did the banks start giving out loans so frivolously. The standards were lowered, why?
If I understand the question
If I understand the question, the fundamental source of the entire credit expansion is the centralized economy and the federal reserve's low rates. These weren't bad loans, they were the inevitable product of artificial rates. A low rate is an indicator of low risk.
"It is the responsibility of the patriot to protect his country from its government."
— Thomas Paine
"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com