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Originally Posted by GoldenRivet
Who cares what Bush is thinking... CONGRESS wields the power. in the end, all bush has to do is sign the dotted line and accept public praise or ridicule depending on the public perception.
Congress is the one who should be thinking. 
I say... put some of these big lending company CEOs in prison. let them do a little "thinking".
i can trace this whole mess to loaning TONS of money to people who were not qualified for loans.
Remember these slogans from the recent years?
"No money down! No interest for 24 months!!!"
"Zero Interest! zero downpayment! No Social Security Number Required!!!"
"No Social Security Number! Se Habla Espanol!!"
give me a break...
loaning out tons of money to unqualified borrowers gets you into this mess.
NO BAIL OUT PACKAGE.... HOLD BIG BUSINESS CEOS AND LENDERS ACCOUNTABLE FOR THEIR ACTIONS!!!! |
But more than that, hold the State accountable for requiring them to do this by law, and by providing fiscal incentives (i.e. bailouts for failed venture)
Community Reinvestment Act.....
http://www.ffiec.gov/cra/
the FMs were created by the State.....
http://www.creativeinvest.com/fnma/