Citibank Gets $306 Billion

iVillage Member
Registered: 03-25-2007
Citibank Gets $306 Billion
185
Mon, 11-24-2008 - 1:21am

Detroit needs to hurry up and come up with a plan.

Sopal

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iVillage Member
Registered: 03-25-2007
Sat, 12-06-2008 - 7:30pm
The CRA was not the cause of this subprime lending crisis which has now crossed over into "prime" lending as homes declining in value

Sopal

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iVillage Member
Registered: 11-11-1999
Sat, 12-06-2008 - 9:06pm

You are arguing with ah ideologue. No amount of reality is ever allowed to conflict with their ideology.


dablacksox


Cynic: a blackguard whose faulty vision sees things as they are, not as they ought to be.---Ambrose Bierce, The Devil's Dictionary.

iVillage Member
Registered: 11-22-2008
Sun, 12-07-2008 - 5:19am

"The CRA was not the cause of this subprime lending crisis which has now crossed over into "prime" lending as homes declining in value

iVillage Member
Registered: 03-26-2003
Sun, 12-07-2008 - 5:31am
The banks mostly DID issue good loans even in poor neighborhoods. The real problem appears to have been the non-bank lenders, the mortgage brokers, who were operating with impunity and without regulation (or with minimal regulation) as far as I can gather. Maybe you have some links on how that whole industry was able to establish itself as it did.
iVillage Member
Registered: 11-05-2008
Sun, 12-07-2008 - 6:26am
Careful with your "facts," Sopal.
iVillage Member
Registered: 11-22-2008
Sun, 12-07-2008 - 6:34am

"You are arguing with ah ideologue. No amount of reality is ever allowed to conflict with their ideology."


Pot-kettle, kettle-pot


iVillage Member
Registered: 11-22-2008
Sun, 12-07-2008 - 6:37am

"The banks mostly DID issue good loans even in poor neighborhoods. The real problem appears to have been the non-bank lenders, the mortgage brokers, who were operating with impunity and without regulation (or with minimal regulation) as far as I can gather. Maybe you have some links on how that whole industry was able to establish itself as it did."


The information has already been posted.

iVillage Member
Registered: 11-22-2008
Sun, 12-07-2008 - 6:43am

"Careful with your "facts," Sopal.

iVillage Member
Registered: 11-11-1999
Sun, 12-07-2008 - 10:02am

Oh btw are you still defending the current congress even though our economic problems are happening while the dems are running things, but still blame Bush for the 2000 recession since he happened to walk into office because of Clinton's failures?


Anyone who would call an 8,000 point rise in the Dow a "failure" is also an ideologue who would stamp their feet and hold their breath until they turn blue in insisting that the CRA is the problem today because, gosh darn it I said so. Despite all of the evidence to the contrary.


Speak for yourself when talking about ideologues.

dablacksox


Cynic: a blackguard whose faulty vision sees things as they are, not as they ought to be.---Ambrose Bierce, The Devil's Dictionary.

iVillage Member
Registered: 03-26-2003
Sun, 12-07-2008 - 10:51am
Not trying to be a pest, but I do not remember anything posted to explain how the CRA authorizes irresponsible lending. Obviously there had to be a break-down in oversight somewhere, but it is not clear to me where that break occurred. If you know, I would appreciate your take on that.

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