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Jasper, there is no way to honestly characterize the banks situation as low risk and high returns. High risk and high losses are the truth of the matter. Why do you think Obama is trying to twist their arms to liwer lending standards AGAIN? Hint: Because the banks don't WANT more high risk, low return loans. If it was the party you make it out to be, they'd be doing it without any arm twisting.
I agree, but the players somehow managed to pin AAA ratings on dog crap loans paying high returns, and that was possible because they could "insure" the losses on that dog crap with unregulated derivatives (simplified of course).
And we were I thought talking about the debt bubble and collapse, and now you need to make it partisan, so are bringing Obama into it. If there's a proposal by Obama to lower lending standards again, I'll probably agree it's a bad idea. But I looked briefly and didn't see anything new. Can you be specific?