Toxic bank loan bailouts???

medicineman

medicineman

New Member
What the fuck is this. Say a bank makes a risky loan and it fails, multiply this by the hundreds of thousands, all because they could get high interest and jack the payment within a certain time period, (Called Thievery) and then, the bottom falls out and they go sniveling to congress and want the peoples money, the same people they just got through pulling a dripping dick out of, what the fuck is up with this???
 
ViRedd

ViRedd

New Member
Uhhhh ... are you forgetting that Congress is the very institution that was forcing banks to make sub-prime loans? And, they weren't getting "high interest" on these loans either. The Federal Reserve was setting artificially low interest rates under the direction of Greenspan. In fact, under Greenspan's direction, the FED lowered interest rates in 14 successive quarters. So here we have GOVERNMENT dictating to banks that they MUST loan to unqualified borrowers who hadn't a prayer of paying back the loans, and then another quasi-government agency, the FED, pumping phony paper money into the market making credit easy, and congress ... another GOVERNMENT agency riding high on all of the kick-backs from other quasi-government agencies ... Freddy MAC and Fannie Mae ... and the feeding frenzy was on.

Yep, it was all the fault of the real estate agents. :lol:

Vi
 
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