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Politics : The Environmentalist Thread
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To: neolib who wrote (23463)12/17/2008 2:32:58 PM
From: Maurice Winn1 Recommendation  Read Replies (1) of 36917
 
Here's your beloved government department helping in lending decisions: Message 25258915 <The idea that the governor of a state as prosperous and important and sophisticated and upscale as Illinois would make this kind of threat is terrifying. Even more terrifying is that Bank of America saw no alternative but to give in. Yet even more terrifying is that nobody outside Chicago seems to have gotten terribly worked up about the situation, riveted as they are on the governor's more theatrical transgressions. But peddling a Senate seat or using scare tactics to shake down a newspaper are nowhere near so serious a menace to society as letting the government arbitrarily intervene in financial transactions between banks and creditors. A crooked governor we can all handle. But a governor who capriciously decides which commercial enterprises a bank must finance and which it can ignore is a scary proposition indeed. >

Your legions of government loans officers wouldn't do a better job. But they would cost a fortune and cause huge delays.

<an average person, engaging in commerce with other entities, can know what scams they are up to, > Neo, when deadbeats got "liar loans", it was they who were doing the scams not the "other entities". When they borrowed more than they could afford to buy over priced houses, it was they who were making bad decisions. There was no scam involved. From a self-interest point of view, the lenders should review the borrowers' decisions because they should be aware that borrowers are not all sensible.

Mqurice
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