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No more hedging by banks
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<blockquote data-quote="Braveheart" data-source="post: 678440" data-attributes="member: 5831"><p>Clinton signed the bills into law but it was a Republican Senate and a Republican Congress that wrote the bills in the first place. They convinced everyone that we needed to lower the standards for getting a mortgage. In theory homeownership does inspire people to aspire to make more for themselves and work harder save more etc etc. The banking/mortgage/real estate industry and their lobbyist pushed and paid their way to get this passed. </p><p> </p><p>It unfortunately did not work out as they had hoped. </p><p> </p><p>The same group=Clinton/Republican led Senate and Congress also gutted the Glass-Steagal Act that had protected our economy since 1929. Despite these crazy regulations our country grew decade after decade. </p><p> </p><p>But when the firewalls were knocked down instead of one segment of the economy going bad the whole city burned to the ground instead of one block.</p><p> </p><p>Nice going guys. Next we should get rid of regulations from the DOT. You know speed limits, hours behind the wheel, weight limits, physical exams, age limits, drivers licenses, hazardous materials protections, etc etc etc</p><p> </p><p>You think the accidents in Nascar are cool. I will build grandstands along I-95 and sell popcorn and beer. Retired inside of a month.</p></blockquote><p></p>
[QUOTE="Braveheart, post: 678440, member: 5831"] Clinton signed the bills into law but it was a Republican Senate and a Republican Congress that wrote the bills in the first place. They convinced everyone that we needed to lower the standards for getting a mortgage. In theory homeownership does inspire people to aspire to make more for themselves and work harder save more etc etc. The banking/mortgage/real estate industry and their lobbyist pushed and paid their way to get this passed. It unfortunately did not work out as they had hoped. The same group=Clinton/Republican led Senate and Congress also gutted the Glass-Steagal Act that had protected our economy since 1929. Despite these crazy regulations our country grew decade after decade. But when the firewalls were knocked down instead of one segment of the economy going bad the whole city burned to the ground instead of one block. Nice going guys. Next we should get rid of regulations from the DOT. You know speed limits, hours behind the wheel, weight limits, physical exams, age limits, drivers licenses, hazardous materials protections, etc etc etc You think the accidents in Nascar are cool. I will build grandstands along I-95 and sell popcorn and beer. Retired inside of a month. [/QUOTE]
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