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Originally Posted by manaboutown
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snopes.com: Obama Required Banks to Lend Money to Poor People
that lawsuit was to stop redlining and had nothing to do with subprime lending, just having banks lending to poor blacks in the identical manner as to poor whites. And Obama was hardly involved in the case. Read the snopes link.
I agree with you that politicians and their appointees had a large roll in establishing the rules that allowed the investment banks to crush the economy. And it all began with removing regulations and controls on the banks, deregulation. Banks make money, banks give money to politicians, banks get laws changed, banks make more money. Do I have that right? And who are those high power bankers today, why those people mentioned above who got bonuses so big they dwarf the total income of all minimum wage workers nationwide.