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Originally Posted by Guest
Dear guest:
you have it right and you did so well. Why would you allow yourself to lose credibility with one word?
Fannie and Freddie are still handing out loans to people who do not qualify and are unlikely to meet their agreement. these home buyers come in all colors and shapes.
This racist obsession by a couple of posters is getting as tiresome as those obsessed with Trump. Please move forward. We get it and we know who you are and we know how you feel. please move on
Personal Best Regards:
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But MOST of the "bad" loans are "colored" people...blacks and hispanics.
Do you REALLY...get it? Or do you just say that? WHAT will you do about it? Give them even MORE?
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Originally Posted by Guest
CRA wasn't the problem.
Derivatives/CDO's, that were contrived by mixing in high risk loans and low risk ones then rated AAA for the whole package...WAS the root of the problem.
If the high risk loans stood on their own, then the secondary mortgage market would have rejected them and banks/mortgage companies would have stopped (or vastly reduced) the number of high risk loans they made...because they couldn't dump them off on someone else.
Those who try to lay the problems at the feet of a political party...are just ignorant simpletons. 
My biggest disappointment with Obama, is that he didn't put a whole bunch of the rating agencies scumbags...in prison!! 
Deepest Sincere Wishes:  |
NO...the ROOT of the problem was banks being FORCED to give loans to minorities in the inner cities. Property with NO value...and loans given to "people" with no value.
Those financial instruments were CREATED just so the banks could sell off those worthless, nonperforming loans the government FORCED them to make. They mixed the "good" loans...white people...with the "bad" loans...minorities because there's no way anyone would buy just "black peoples" loans as an investment.
They ALL worked together on this SCAM. Government, banks, rating agencies.
ANOTHER stupid endeavor to TRY to get minorities "equal" to whites. It'll never happen. They're not us.