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BIDEN BLOWS UP OIL PRICES BY CANCELLING DRILLING IN U.S. NOW BEGS OPEC
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<blockquote data-quote="vantexan" data-source="post: 5154291" data-attributes="member: 24302"><p>No, not talking about the Dodd Frank law. I'm talking about how Christopher Dodd and Barney Frank personally leaned on banks to make loans to unqualified individuals. This was discussed in detail by all the major newspapers, Washington Post, NY Times, USA Today, etc. It was the basis of the 2008 real estate collapse. Those mortgages were bundled into securities and derivatives were developed to play against them. For an explanation you might understand watch the movie "The Big Short." They weren't alone in this, a lot of players involved but as usual Dems tried to lay it all at the Republicans' feet. Christopher Dodd in particular acted on behalf of Countrywide Mortgage which was eventually convicted of mortgage fraud and was bought out by Bank of America. We're talking millions of unqualified mortgages that turned the market into a house of cards. Anyways it illustrates how Congressmen sitting on the right committees have a lot of power but it also illustrates that those same Congressmen are driven more by money than sound economic priciples.</p></blockquote><p></p>
[QUOTE="vantexan, post: 5154291, member: 24302"] No, not talking about the Dodd Frank law. I'm talking about how Christopher Dodd and Barney Frank personally leaned on banks to make loans to unqualified individuals. This was discussed in detail by all the major newspapers, Washington Post, NY Times, USA Today, etc. It was the basis of the 2008 real estate collapse. Those mortgages were bundled into securities and derivatives were developed to play against them. For an explanation you might understand watch the movie "The Big Short." They weren't alone in this, a lot of players involved but as usual Dems tried to lay it all at the Republicans' feet. Christopher Dodd in particular acted on behalf of Countrywide Mortgage which was eventually convicted of mortgage fraud and was bought out by Bank of America. We're talking millions of unqualified mortgages that turned the market into a house of cards. Anyways it illustrates how Congressmen sitting on the right committees have a lot of power but it also illustrates that those same Congressmen are driven more by money than sound economic priciples. [/QUOTE]
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BIDEN BLOWS UP OIL PRICES BY CANCELLING DRILLING IN U.S. NOW BEGS OPEC
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