29. Eric Florack: said, “The Atlantic? Please….”
I don’t know about you, Mr. Florack, but I have an open mind about many things and have read a number of very good articles in the Atlantic. I like to get opinions and analysis from as many sources as I can so that I attain solid backing for my reasoning and arguments.
Your dismissive tone concerning the Atlantic I find to be disconcerting. Did you even read the article that I linked? I bet not.
Just because you worked in a bank doesn’t make you an expert. And maybe, just maybe some research would have helped a little to flesh out your arguments.
You said, “The government, under Clinton MANDATED that they lend to risky borrowers.”
You are correct there. But let’s get down to brass tacks here. What percentage of the risky loans were forced on the banks; did the banks ever exceed that percentage; can you explain Countrywide’s collapse?
What about the banks being allowed to leverage 30:1? That’s ridiculous on its face. I’m no economist or banker, but that smacks of nonregulation! Even a fool would know better than to bet the farm with that much liability!
regards
