Every major bank in the world did this and the taxpayers are supposed to bail them out?
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
The banks in the US did this because of the community reinvestment act.
ReplyDeleteThe government forced them to do it thanks to Barney Frank and Chris Dodd
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.
ReplyDelete