Donna2, you hit the nail on the head. Frank was responsible for a majority of the sub-prime housing fatalities forced upon our two largest lending institutions. They were forced to make loans to families that could never fulfill their contracts and he knew it along with other members of Congress. This is partially where the market erosion began and it was our own doing.

Originally Posted by GatbTester

Donna2, you hit the nail on the head. Frank was responsible for a majority of the sub-prime housing fatalities forced upon our two largest lending institutions. They were forced to make loans to families that could never fulfill their contracts and he knew it along with other members of Congress. This is partially where the market erosion began and it was our own doing.

Well, around here we have reverse discrimination. Seems if your in a protected minority, people feel they cannot criticize you. Barney throws a hissy fit if you ask him any serious questions. Seems if you a conservative and perceived to be on the straight and narrow, you are open for criticism when you go astray or do something unethical. The media has two different standards, in my opinion. But of course, your not supposed to say these things out loud.

Originally Posted by GatbTester

Donna2, you hit the nail on the head. Frank was responsible for a majority of the sub-prime housing fatalities forced upon our two largest lending institutions. They were forced to make loans to families that could never fulfill their contracts and he knew it along with other members of Congress. This is partially where the market erosion began and it was our own doing.

Actually I think the birh of this housing thing goes back to the late 70's when congress passed the CRA to prohibit banks, etc from targeting only wealthy neighborhoods for there services and then under President Clinton this was expanded to put more emphasis on the lenders adhering to this act and thus it began in earnest this movement to give out mortgages like band aids.

No doubt those in congress, Frank, etal, just simply overlooked what was coming because it was in their best interests !