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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (472793)4/17/2009 12:57:28 PM
From: combjelly  Respond to of 1575624
 
"It was done because the banks needed more loans to securitize."

Precisely. That is exactly what I've been trying to say.



To: SilentZ who wrote (472793)4/17/2009 1:05:00 PM
From: Tenchusatsu  Read Replies (1) | Respond to of 1575624
 
Z, > High-risk lending was not done because the government told the banks to loan to poor people. It was done because the banks needed more loans to securitize.

It's not an either-or thing. It's a bandwagon thing. Everyone jumps on until the wheels fall off. Then the finger-pointing begins.

Tenchusatsu



To: SilentZ who wrote (472793)4/17/2009 2:22:35 PM
From: Brumar89  Respond to of 1575624
 
Why has ACORN and similar outfits long been complaining about foreclosures of loans to poor folks? Have they been lying?



To: SilentZ who wrote (472793)4/17/2009 4:19:43 PM
From: HPilot1 Recommendation  Respond to of 1575624
 
High-risk lending was not done because the government told the banks to loan to poor people. It was done because the banks needed more loans to securitize.

Acorn and others forced many banks to do this.

nypost.com


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