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Decline of the Middle Class
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<blockquote data-quote="vantexan" data-source="post: 3510519" data-attributes="member: 24302"><p>Banks need deposits on hand in order to borrow from the Federal Reserve. Actually it's based on checking accounts and liquidity. But it's a moot point. The banks made a huge amount of bad loans under pressure from Congressmen who threatened to put the screws to them if they didn't. It all came crashing down eventually. And liberals want to put the blame squarely on Bush for it. No matter what happens they'll always take the credit or shift the blame.</p></blockquote><p></p>
[QUOTE="vantexan, post: 3510519, member: 24302"] Banks need deposits on hand in order to borrow from the Federal Reserve. Actually it's based on checking accounts and liquidity. But it's a moot point. The banks made a huge amount of bad loans under pressure from Congressmen who threatened to put the screws to them if they didn't. It all came crashing down eventually. And liberals want to put the blame squarely on Bush for it. No matter what happens they'll always take the credit or shift the blame. [/QUOTE]
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