- Banned
- #281
Boooshie crony regulators allowed PRIVATE toxic assets to be rated A+, bundled, insured, and sold around the world starting in 2002. Change the channel, dingbats.
Actually at the time of the collapse Barney Queerboy and the Democrats were in charge of the Congressional oversight of the regulators.
The Democrat sponsored CRA was the brilliant idea to use government pressure to force lenders to give credit to those shitheads that neither had the means or the inclination to ever pay back the money. You know, for social justice reasons. What could possibly go wrong?
Before the CRA lenders would only give money to the people that would pay it back. The CRA put tremendous pressure on the lenders to give the money to potential Democrat voters from disadvantaged area with the unwritten promise that if things went south the government would cover the losses, which is exactly what happened. Another stupid Libtard plan that almost bankrupted this country.
The Democrats were responsible for coming up with the stupid idea and the Republicans are responsible for not putting an end to it when they had the chance.