Again, no policy from the government can force banks into the massively leveraged position into which they put themselves.<quoted text>
Wrong Dufus,The GWB<regime attempted numerous times to repeal the Clinton
CRA act that was doomed to fail before it began? democrats blocked every
attempt by GWB to do so!! get your facts straight before your spewing of
Commie Bull Sh*t!!
The government did not say, "Banks, you must make hundreds of billions of dollars in bad loans".
It didn't happen.
The ONLY way banks get into the position they got into was by thinking they could make money doing it.
And they did. They made BILLIONS doing what they were doing. The problem is, they still had their hand in the cookie jar when the lid slammed shut.
I love that fact that you guys complain about how ineffectual the government is AND complain that the government is so effectual it can cause this stuff.