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?
