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Tuesday, November 22, 2011

INSERT NAME OF COUNTRYWIDE, WASHINGTON MUTUAL OR ANY WALL STREET BANK

Every major bank in the world did this and the taxpayers are supposed to bail them out?

2 comments:

Anonymous said...

The banks in the US did this because of the community reinvestment act.
The government forced them to do it thanks to Barney Frank and Chris Dodd

Anonymous said...

No, not every major bank did this. Examine HCBK, a bank/thrift in NJ/NY/CT. High loan standards, high down payment, no derivatives, nobody got a loan that shouldn't have, as well as turning down TARP(They didn't need the money, didn't want the money). To lump everyone in with the TBTF crowd is wrong. Some banks, still operate the right way.