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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?


To: Kenneth E. Phillipps who wrote (60839)3/10/2009 7:56:54 AM
From: SGJ3 Recommendations  Read Replies (1) | Respond to of 224704
 
language in the bill which permits consolidation of financial services companies and eliminates the former barriers between commercial banks

Existed previous to GBLA in a crazy quilt of state deregulation. GBLA benefited the financial industry by formalizing what existed anyway.

Before GLB, commercial banks could not securitize their mortgage loans.

Has nothing to do with GLBA. As a holder in due course, anyone can sell any loan to anyone else at any time.



To: Kenneth E. Phillipps who wrote (60839)3/10/2009 8:00:00 AM
From: Little Joe6 Recommendations  Respond to of 224704
 
O.K. I get it, you don't know and you are blowing smoke as usual.

lj