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Barney Frank
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<blockquote data-quote="av8torntn" data-source="post: 909242" data-attributes="member: 8259"><p>If you would have read it they did point to the regulations enacted that required banks to comply with the CRA in order to be approved for regulatory activity. Someone posted a video on this thread of Clinton speaking about these regulations. I'd suggest if you were interested in the truth to read up on those regulations before you take on Cato.</p><p></p><p>CRA loans by definition are subprime loans. That is the point. When you start forcing banks through regulation to not require things like creditworthiness or a 20% downpayment or even to make loans in risky areas they default at higher rates. When the government offers a guarantee on a loan that is no different than the government making that loan.</p></blockquote><p></p>
[QUOTE="av8torntn, post: 909242, member: 8259"] If you would have read it they did point to the regulations enacted that required banks to comply with the CRA in order to be approved for regulatory activity. Someone posted a video on this thread of Clinton speaking about these regulations. I'd suggest if you were interested in the truth to read up on those regulations before you take on Cato. CRA loans by definition are subprime loans. That is the point. When you start forcing banks through regulation to not require things like creditworthiness or a 20% downpayment or even to make loans in risky areas they default at higher rates. When the government offers a guarantee on a loan that is no different than the government making that loan. [/QUOTE]
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