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Politics : The Obama - Clinton Disaster
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To: Neeka who wrote (3659)12/23/2008 12:10:02 PM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
Nah... (that would be something else entirely).

The point I was making about the "non-bank mortgage lenders" (essentially: the specialty lenders like Golden West and Countrywide, etc., etc.) that sprang-up over the past couple of years --- and that, *hands down* made the most of the worst sub-prime and alt-a and 'liars' loans' --- was that they PLAYED THE SYSTEM (dodging down the cracks in our regulatory system) to AVOID effective regulations.

The big Commercial Banks were regulated more effectively (though, even there, in the Bush years there was a chronic shortage of skilled regulators... and big problems were allowed to build-up 'beneath the surface' in the areas of appraisals and risk assumptions).

But the 'non-bank' guys --- they were the WORST by a country mile.
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