Not back to any argument. I wasn't bringing up CRA at all, actually. Just applying common sense and basic business logic/practices. Banks had to have a reason to start suddenly giving out loans they never would have in the past, wouldn't they? It doesn't just miracle itself into existence, and the behavior certainly isn't historically what one saw from them.KEN-JENNINGS wrote:
Deflecting back to this argument, eh? This whole debacle was solely the result of CRA. Ok, I guess we're done hereFEOS wrote:
Banks wouldn't give out volatile/risky loans if they weren't forced to. They like their money as much as the next guy.KEN-JENNINGS wrote:
But for those industries, calls for regulation have come after those industries have proved they can't self regulate.
If banks had their way, they'd be giving out volitale loans left and right, decrease the amount of capital on hand to as low as possible, then ask the government for money when that business model failed.
What's your solution if you don't think government regulation will help?
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein
Doing the popular thing is not always right. Doing the right thing is not always popular
― Albert Einstein
Doing the popular thing is not always right. Doing the right thing is not always popular