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<blockquote data-quote="Babagounj" data-source="post: 882628" data-attributes="member: 12952"><p>poor ,poor, tos still effected with BDS.</p><p></p><p>Now let's go back to the begining;</p><p>banks were able to use their own internal guidelines about what areas and which persons they would give as an example ,mortgages to and the banks made profits , then some misguided people demanded that they too be given mortgages, even though the internal guidelines of the bank showed that these loans were a VERY BAD Risk. These misguided persons motivated by community organizers , knew upfront that they would never be able to repay these loans and had one sided bills made into laws so that they could get these loans. now the banks were losing money and had to increase their fees charged to all customers to try to recoup some of the loses. </p><p>Thus two government run agencies took the lead in making sure everybody could get a loans, no matter what their monetary reality was. and with the gov't's backing a housing bubble was born, of course no one would admit that any bubble existed, at least no one in gov't. No money down and no background checks required, fueled a very wild ride, in which even non-citizens were able to cash in on, some discovered the scheme of house flipping; selling the same property over & over within a select group always increasing the house's value.</p><p>Well as every business student is taught at some time someone will get burnt when this house of cards falls.</p><p></p><p>So yes, let's dereg the banks.</p><p>Some times the best ways to solve a major problem is to do it the old fashion way.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 882628, member: 12952"] poor ,poor, tos still effected with BDS. Now let's go back to the begining; banks were able to use their own internal guidelines about what areas and which persons they would give as an example ,mortgages to and the banks made profits , then some misguided people demanded that they too be given mortgages, even though the internal guidelines of the bank showed that these loans were a VERY BAD Risk. These misguided persons motivated by community organizers , knew upfront that they would never be able to repay these loans and had one sided bills made into laws so that they could get these loans. now the banks were losing money and had to increase their fees charged to all customers to try to recoup some of the loses. Thus two government run agencies took the lead in making sure everybody could get a loans, no matter what their monetary reality was. and with the gov't's backing a housing bubble was born, of course no one would admit that any bubble existed, at least no one in gov't. No money down and no background checks required, fueled a very wild ride, in which even non-citizens were able to cash in on, some discovered the scheme of house flipping; selling the same property over & over within a select group always increasing the house's value. Well as every business student is taught at some time someone will get burnt when this house of cards falls. So yes, let's dereg the banks. Some times the best ways to solve a major problem is to do it the old fashion way. [/QUOTE]
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