Clay Bennett for February 10, 2012

She should be strapping him to the tracks, along with all the “deregulators” and friends on K Street, Wall Street.

Bennett apparently doesn’t realize he’s exposing his incomprehensibly diseased imagination. Gotta admit though, unwitting self caricature like this is very entertaining.

anyone get the licencee plate number?

And along came Jones …Dunno if that has any relevance, just remember the old song.

Name ONE specific instance where a bank was forced to make risky loans by the Government.

And please explain to me how Clinton’s statement translates into ‘directing the banks to make risky loans.’

And for once, please don’t bail off the thread and repost that statement elsewhere, as if no one answered you,.

There’s nothing illegal about making a risky loan, which is why there’s a rating system. The riskier the loan, the higher the return. People with a better credit rating pay lower interest rates, and those with bad credit pay higher. The crime was bundling high risk loans and selling them as low risk; it’s called fraud. The lending institutions knew they weren’t collecting enough info on the borrowers to qualify them and slapped a AAA rating on them anyway. The home buyers were stupid to buy too much house, yes, but the lenders are guilty of fraud and should go to jail.

One more time, my question was…show me where the Government forced a bank to make risky loans, ( as Tigger was claiming. )

It was NOT show me where the banks forced risky loans on their customers. I never said anythign to that effect.

Now, what about the instances where banks put people in subprime loans who actually qualified for prime rates?

http://www.nytimes.com/2009/06/07/us/07baltimore.html?pagewanted=all. http://money.cnn.com/2011/12/21/news/companies/bank_america_settlement/index.htm

Some say the number of folks who got snookerd this way is as high as 50% of all mortage holders. I can’t confirm that figure, but even so, how many people would not be in foreclosure if the banks hadn’t deceived them like that?

And then there’s the ‘robo-singings’ scandal.

http://www.dailyfinance.com/2010/10/02/robo-signing-scandal-spreads-documents-show-citi-and-wells-also/

http://articles.courant.com/2012-02-09/news/hc-robosigning-settlement-20120209_1_mortgage-servicers-robo-signing-mortgage-giants

The myth that the banks are innocents who got screwed by the government and cheated by their borrowers is just that…a myth

I know YOU:RE not promoting that myth Bruce, but there are plenty of other conservatives around this forum who very much down with that lie

the govt didn’t force the bank to make risky loans. the govt said ‘redlining’ as a method wasn’t ok.

the banks had a fiduciary responsibility to make responsible loans. but the banks, along with the appraisers went spring break mad.

they stuffed their pockets full of tax payer money and made loans to everyone that could sign a piece of paper. then when it all went to hell in a handbasket, we bailed ’em out again.

and nothing has changed yet, as those bad loans are wrapped up with opaque paper.

deregulation, bad regulation, and politicians and bankers are all to blame, along with people who signed up for the bad paper.

and a bunch of them belong in jail.