Conservatives, why don't you think the Banks were at fault for our current situation fiscally speaking?Their conduct to their employee's was deplorable. I will leave you this cut and paste from "The Daily Capitalist" by Jeff Harding and a link on edit. btw, Jeff is a Mises Inst. proponent of Classical Liberal Economics (Laissez Faire) No sooner had the FT reported PPI mis-selling in all its gory... |
I blame 'Boomers' across the board. Don't forget, slick willy (D) signed the repeal of Glass Steagall.
I DON'T! Unless by the term "Banks' you are including banking regulators, and the uS govt agencies that function Like banks, such as Fannie Mac and Freddie mae.
Banks, on their own, will not normally lend money to people who they believe cannot afford to pay it back. Oh, sure, they might occasionally catch One loan officer doing so, because his commission check becomes more important than protecting company funds, but they are quickly relieved of duty, and criminally prosecuted if possible.
No Sir, i do not believe banks did this thinking there would be a bail-out waiting for them. No such notion of "let's be as irresponsible as possible, because uncle Sam will cover our butts" Nope, not unless Uncle Sam ALREADY told Them they would if they would throw lending standards out the window.
Nobody will EVER convince me that these banks were not Pressured into wrapping a house around everyone who could hold a pen and sign their name.
The banks were at fault for the fiscal situation in 2008. Obammy did nothing about it and added to it, so guess who's fault it is now? Sure as hell ain't G W Bush's.
Look up Community Reinvestment Act
Banks were pressured into giving loans to people without jobs, without down payments, without credit all by CLINTON/RENO.
They are PARTLY to blame.
For every loan they gave that they shouldn't have given....there was an individual borrowing money they knew they could never pay back.
Most of them are in bed with the banks.
WE DO! It's Democrats who blame it on war spending and tax cuts!
