Quote:
Originally Posted by Botnst
Wasn't there some sort of federal legislation that addressed a perceived racial bias in mortgages that resulted in forcing lenders to lower the standards for securing a mortgage? I think it originated under Clinton and expanded under Dubyuh.
Greedy people will take advantage of loopholes.
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The powerful people ( government) forced the greedy people to make loans to the people w/o either power or money, or the prospects to repay the loan. The powerful people guaranteed the loans with OUR money so they could look good and get re-elected, and think well of themselves for caring so much about others-(while spending none of their own money on charity).