Democrats Halted Recovery, Derailed Economy Last Summer
To Mongoose, please tell me more about these “laws that required them to give bad loans,” because I think you actually pulled that out of thin air.
Careful not to go too far down the “Post hoc ergo propter hoc” fallacy road. That the banks, as rational market-players operating in their own interests, made a bunch of bad loans does not mean that there were laws requiring banks to give out bad loans. A more likely scenario is that they were just wrong. An even likelier scenario is that they were blinded by greed (high interest rates!) that they couldn’t see just how vastly wrong they were.
If you’re thinking about the CRA, as mentioned by Goy, then sit up straight and pay attention to this next bit.
Goy, please explain to me how the Community Reinvestment Act of 1977 caused the recession of 2007-Now.
Also, please explain how the CRA of 1977 was seemingly NOT a factor in the recessions of 1980, 1991, 2001, and is only now, some thirty years later, affecting us now.
Don’t believe everything you hear on AM radio, people. (Or read on PJM, for that matter.)
