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Old 02-10-2012, 06:20 PM   #1
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Join Date: Oct 2006
Location: Beaumont, Texas
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So, The Banks Are "To Blame???"

Been watching about Barry's pontifications about the Banks and the loan deal. He says that "we have to take to task the 'evil banking industry' and make the banks pay "so many Billions of dollars" to make this right. They made poor choices and now (to borrow from his preacher, "Our Chickens Are Coming Home To Roost!")

Lets back up a second. BANKS know how to put out loans. They know how to do a friggin' credit report. They KNOW how to figgure, from your income if you are a good risk or a bad one. They are NOT in the business of losing money...

Here comes the Federal Government (Insert trumpets here) and INSISTS that the banks, along with Freddie Mac and Fannie Mae GIVE mortgages to people that can't afford them, can't repay them and are surely going to default on them. WONDERFUL! (until the default begins...)

Now, Barry is pissing and moaning about the banks? It was the Feds that directed them to give credit to those that couldn't repay their obligations!

What's wrong with this picture?

Avanti Tile & Stone
"They Didn't Want It Good...They Wanted it Wednesday..."

Last edited by Lazarus; 02-11-2012 at 09:23 AM.
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Old 02-10-2012, 06:33 PM   #2
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Location: Rochester NY
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Very true! Government put pressure on the banks to loan to the "disadvantaged" or "under serviced areas" . This is what the government gets.
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Old 02-10-2012, 10:27 PM   #3
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Question: Did the U.S government also force Ireland, England, Spain, Iceland, etc etc to give loans to their citizens? It was a worldwide meltdown, you do know that the U.S was not the only country affected by the meltdown of the credit markets, right?

Canada was not affected by the credit crises because we didn't deregulate our banks and we didn't allow them to sell sub-prime mortgages.

Government is not perfect, but neither are corporations. Why? Because man is not perfect.
Jeremy (aka: Edward Trowel Hands)

Last edited by alienofwar; 02-10-2012 at 10:34 PM.
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Old 02-10-2012, 10:53 PM   #4
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Yeah but Jeremy you didn't have this guy:


Rule number one in life: You go with what you got, imperfections and all.
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Old 02-11-2012, 12:38 AM   #5
Karl Marxist-Gettin ready for the Revolution
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The failure emanates from the desire of some to edict unrealistic economic policies and redistribute wealth.. It doesn't work wherever you are in the world... Proven fact...

mm (aka "Paco")
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Old 02-11-2012, 08:00 AM   #6
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Funny how the people who spent more than they could afford never get their share of the blame. Well, not funny haha.
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