Quote:
Originally Posted by Pio1980
This is the banks and Wall Street blaming the victim for the consequences of their their overreach. They sold folks houses they couldn't afford by telling them they could, bundled these mortgages as "investments", cashed in yet again by selling these investment traunches to the unsuspecting, and then practiced implausible deniabiliy as usual for Wall street. Obama's place in it would have been defeating "red lining" of prospective clients on race.
If the makers of the original mortgages had been required to hold the paper they wrote and back the loans themselves you can be assured none of this would have happened, but then nobody makes a killing on the backs of the unwary and defenseless.
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Feel free to paraphrase. I will not argue about wholesale quotations.
https://en.wikipedia.org/wiki/Commun...ct#Regulations
09-07-2015, 12:13 PM
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