State Of The Union

[steelish]

This should scare any Americans reading this forum.

[SadisticNature]

You linked me to an article that shows bankers failed to comply with the regulation. If the bankers are failing to comply with the regulation they aren't making the ridiculous loans it stipulates. So the crisis isn't being caused by bankers being forced to make loans they don't want to make, due to a regulation they aren't complying with.

If the bankers actually complied with the regulation and made the bad loans that then defaulted then I could agree. But the evidence you've given shows that they didn't. So I don't see how people somehow magically defaulted on these loans that were never made.

[steelish]

You linked me to an article that shows bankers failed to comply with the regulation.

It in no way shape or form shows that bankers failed to comply with the regulation. What it shows is that the government's misguided attempts to "equal the playing field" amongst ethnicities didn't work. The banks did comply. They gave loans to people who could not afford the loans, the banks didn't discriminate while doing so. The government's attempts to "spread the wealth" of homeownership backfired, as does much of what they attempt to do "for" the citizens of the U.S.

They need to quit trying to "take care of us" and simply be the government that the founding fathers designed.

[SadisticNature]

It in no way shape or form shows that bankers failed to comply with the regulation. What it shows is that the government's misguided attempts to "equal the playing field" amongst ethnicities didn't work. The banks did comply. They gave loans to people who could not afford the loans, the banks didn't discriminate while doing so. The government's attempts to "spread the wealth" of homeownership backfired, as does much of what they attempt to do "for" the citizens of the U.S.

They need to quit trying to "take care of us" and simply be the government that the founding fathers designed.

The article actually was arguing bankers were not providing adequate loans to the black community and gave numbers showing how those neighborhoods were getting much fewer loans.

My question still stands: How is it that they aren't providing loans to the black community? Yet in providing these loans they caused the housing meltdown?

[DuncanONeil]

The article actually was arguing bankers were not providing adequate loans to the black community and gave numbers showing how those neighborhoods were getting much fewer loans.

My question still stands: How is it that they aren't providing loans to the black community? Yet in providing these loans they caused the housing meltdown?

I missed something! What is the date of the article being referenced here.

The comment above is the whole point of the Government driven requirement. Get loans to people whose resources are not capable of sustaining the loan. This is where the increase in minority neighborhoods were led to the "American Dream" and sold out at the same time. Sold out by the lies about Freddie and Fannie.
Again the meltdown was caused by Washington interference in the day to day banking business.

[DuncanONeil]

denial!

you linked me to an article that shows bankers failed to comply with the regulation. If the bankers are failing to comply with the regulation they aren't making the ridiculous loans it stipulates. So the crisis isn't being caused by bankers being forced to make loans they don't want to make, due to a regulation they aren't complying with.

If the bankers actually complied with the regulation and made the bad loans that then defaulted then i could agree. But the evidence you've given shows that they didn't. So i don't see how people somehow magically defaulted on these loans that were never made.

[DuncanONeil]

Just a little bit too busy to be as scary as it should be!

This should scare any Americans reading this forum.