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Decline of the Middle Class
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<blockquote data-quote="vantexan" data-source="post: 3510460" data-attributes="member: 24302"><p>Actually Frank and Dodd put pressure on banks to lend to the poor so that they could participate in the boom too. Millions of bad loans were made that were bundled into highly leveraged financial instruments that traded like futures. When all those loans started defaulting it nearly brought our entire banking system down. For people who think Washington has little effect on our lives they got an eye opener in 2008.</p></blockquote><p></p>
[QUOTE="vantexan, post: 3510460, member: 24302"] Actually Frank and Dodd put pressure on banks to lend to the poor so that they could participate in the boom too. Millions of bad loans were made that were bundled into highly leveraged financial instruments that traded like futures. When all those loans started defaulting it nearly brought our entire banking system down. For people who think Washington has little effect on our lives they got an eye opener in 2008. [/QUOTE]
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