what you need to do is do some research on your own and you would find
Carter enacted the Community Reinvestment Act
Bush Sr, tweeked it a bit,
Clinton changed the federal regs and guidlines, and stepped up enforcement
Clinton enacted the bank deregulation
Simple history, nothing more
The CRA is affirmative action lending, forced banks to lend to those unqualified, and if you dont, your CRA rating gets scrutinized, and the bank is declared unfit and your business activity can be squashed at the federal level.
The deregulation signed by Clinton, included the trading of mortgage related deriviatives,, again simple history
But i am not certainly not complaining, I work In IT, and now, thanks to the CRA and some federal financing (thanks barney) I work for a top 5 bank, and I work in Consumer lending,, what a hoot. I will be very busy for the next 2-3 years.
Unfortunatly for your position, there is video evidence of the Republicans stating the problem and the Democrats denying and blocking, the exact opposite of your claim. I am guesing you have not watched those videos that I posted.
c'est le guerre |
