http://www.msunderestimated.com/2008/07/congress-working-overtime/ Reality Bytes Thu, 09 Feb 2012 16:41:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.msunderestimated.com/2008/07/congress-working-overtime/comment-page-1/#comment-113415 Leon Brozyna Tue, 29 Jul 2008 18:50:18 +0000 http://msunderestimated.com/?p=1101#comment-113415 Once upon a time, lenders had standards as to who qualified for mortgages. But these practices were decried by certain politicians as discriminatory. Rather than face more regulation in their lending practices, major lenders caved in to this pressure tactic and began giving out loans that were weak. Knowing that these were weak, they then began the practice of selling off these dubious loans to other institutions and a new government created 'market' came into being. Now that the chickens have come home to roost, these same politicians are blaming the lending institutions for doing what they were forced to do. Let's see some payback at the polls! Once upon a time, lenders had standards as to who qualified for mortgages. But these practices were decried by certain politicians as discriminatory. Rather than face more regulation in their lending practices, major lenders caved in to this pressure tactic and began giving out loans that were weak. Knowing that these were weak, they then began the practice of selling off these dubious loans to other institutions and a new government created ‘market’ came into being. Now that the chickens have come home to roost, these same politicians are blaming the lending institutions for doing what they were forced to do. Let’s see some payback at the polls!

]]> http://www.msunderestimated.com/2008/07/congress-working-overtime/comment-page-1/#comment-115210 Leon Brozyna Tue, 29 Jul 2008 16:50:18 +0000 http://msunderestimated.com/?p=1101#comment-115210 Once upon a time, lenders had standards as to who qualified for mortgages. But these practices were decried by certain politicians as discriminatory. Rather than face more regulation in their lending practices, major lenders caved in to this pressure tactic and began giving out loans that were weak. Knowing that these were weak, they then began the practice of selling off these dubious loans to other institutions and a new government created 'market' came into being. Now that the chickens have come home to roost, these same politicians are blaming the lending institutions for doing what they were forced to do. Let's see some payback at the polls! Once upon a time, lenders had standards as to who qualified for mortgages. But these practices were decried by certain politicians as discriminatory. Rather than face more regulation in their lending practices, major lenders caved in to this pressure tactic and began giving out loans that were weak. Knowing that these were weak, they then began the practice of selling off these dubious loans to other institutions and a new government created 'market' came into being. Now that the chickens have come home to roost, these same politicians are blaming the lending institutions for doing what they were forced to do. Let's see some payback at the polls!

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