and omitted the role that governmental regulations concerning "fair lending " practices played... Those regulation were used by groups like ACORN to force banks to lend to less the credit-worthy or home buyers without a down payment... And Congress over 20 years (especially Clinton's regulations) force the banks to engage in sub- prime lending...
While not the cause of the problem, this surely was one primary factor in the development of the "new" wall street financial products that now are so toxic... To omit any mention of them is another example of bad journalism by those who loudly profess the "gold standard"... --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
