Subprime Lenders: You Suck, Sincerely, Jeb Hensarling
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8:52
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You can't legislate against stupidity.
BATCH420 3 years ago
The Community Reinvestment Act of 1977 and Clinton's revision of the act forced lenders to give loans to High-risk borrowers in the name of equality. This act resulted in more people buying homes that they were unable to afford. These people defaulted on their loans because they couldn't afford the mortgage. Banks trade mortgage's as if they were money. So if less people could pay these mortgage's the less they are worth, the bank's stocks crash and they go under. Dig a little deeper.
tegalans 3 years ago
The Dems are in control of the House and Senate. How is this a GOP thing, again?
martyyt 4 years ago
Subprime lenders and the lobby that made it possible to commit widespread have Bush, the GOP lawmakers on the Hill and several states GOP reps do their bidding. Ameriquest, Roland Arnall, Bush's biggest 2004 contributor was thanked by Bush by a cushy embassador job to Netherlands. Dig deep and this mess has GOP written all over it.
Adrasteia988 4 years ago