tag:blogger.com,1999:blog-6382255864661846735.post6771306595308234908..comments2024-02-24T08:45:36.112+00:00Comments on TheFatBigot Opines: The Big Bail Out, Round 1TheFatBigothttp://www.blogger.com/profile/17255526385076528633noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6382255864661846735.post-57721761992854995802008-09-30T23:25:00.000+01:002008-09-30T23:25:00.000+01:00CRA was a disaster waiting to turn into an H-bomb....CRA was a disaster waiting to turn into an H-bomb. <BR/><BR/>The sad thing is that we can all understand why Jimmy Carter wanted to give everyone a chance to buy their own home. <BR/><BR/>For those with sufficient income who were unable to raise a loan because they lived in the wrong town (which, sometimes, meant no more than that they were the wrong colour) there was good reason to force the banks to apply the same lending criteria to all applicants because that is plain and simple fairness. <BR/><BR/>The real problem was that the criteria had to be relaxed to meet the needs of CRA, especially after Bill Clinton changed the original scheme and required much more lending. <BR/><BR/>It is all very well saying "we are helping the poor" but you do not help the poor by locking them into obligations they cannot afford. It gives politicians some nice statistics to throw around: "we have enabled an additional X million to own their own homes". What good does that do when a few years down the line the proud homeowner is out in the street?TheFatBigothttps://www.blogger.com/profile/17255526385076528633noreply@blogger.comtag:blogger.com,1999:blog-6382255864661846735.post-26646072635508791302008-09-30T03:42:00.000+01:002008-09-30T03:42:00.000+01:00http://www.youtube.com/watch?v=NU6fuFrdCJYwatch it...http://www.youtube.com/watch?v=NU6fuFrdCJY<BR/><BR/>watch it. First link was shut down.<BR/><BR/><BR/><BR/><BR/>iceFree.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6382255864661846735.post-10662807250049761662008-09-30T03:28:00.000+01:002008-09-30T03:28:00.000+01:00Wow been a Crazy week, but my gut feeling is to le...Wow been a Crazy week, but my gut feeling is to let it fail. Suck -it up. Lets cut the fat, may the strong survive.<BR/><BR/> It all started with government getting drunk on good intentions i.e. CRA something that is corrupt to start with, is bound to get worse with time. <BR/><BR/>iceFreeAnonymousnoreply@blogger.com