Who can force a Bank to make a Loan?No one, it is regulation! They can chose to participate or refuse. The reason for the financial crisis is out sourcing, the jobs were lost here, Middle Class Americans without jobs can't pay mortgages, so a glut of foreclosures, plus Wallstreeters and deriviatives, this is the cause of the Collapse, the... |
It's funny how some of the best arguments are the most obvious but still the last to occur to some of us: "If that were the case they would be forcing the banks to make loans now." It has never occurred to me to point that out. Thanks for the reminder.
@ Big One: "Parsing words" between "pressure" and "force"? What are the implications of this assertion for wages and home mortgage loans? Do we accept jobs and pay fifty percent of our incomes for life to fulfill the "dream" of living indoors by "mutual consent" or does our economic system "pressure" us into it? A novel approach. Welcome to the correct side of the argument.
SO, you are naive enough to think that if a bank does not issue a certain quota of Sub-prime loans, that the regulators will not "Audit" them?
You are parsing words with the difference between "Force" and "Pressure" or "Coerce"
And the jobs leaving? OK, Why? Remember that labor has ALWAYS Been Cheap in China! But those factories don't have an army of OSHA and EPA inspectors up inside them everyday
the claim that "the government forced banks to make loans" is pure pap for morons.
apparently some democratic senators did when they were in the minority in congress 10 years ago, at least according to our con friends in here
