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SportTrac Discussion
General Sport Trac Discussion
Obama admin pushing banks to offer sub-prime mortgages again...
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<blockquote data-quote="Thomas Rogers" data-source="post: 963045" data-attributes="member: 60724"><p>Hugh,</p><p></p><p></p><p></p><p>I don't see it, not from the article and not from other news of late. Yes, some lenders and their practices and recent lending practices in certain areas (low income, etc) are being looked into, but that is not news. There have always been watchdog agencies (HUD, FHA, ...) under every administration that does such oversight.</p><p></p><p></p><p></p><p>I don't see this as: "Obama pushing for sub-prime loans."</p><p></p><p></p><p></p><p>I wouldn't even say that these articles are making the case that "Obama is pushing for banks to make bad loans", which I think in more general terms is what you are trying to say.</p><p></p><p></p><p></p><p>Again, reviewing lending practices to make sure all is kosher is what agencies SHOULD do. If done properly it will cut both ways. Agencies will see loans that SHOULD NOT be given to some, and might catch examples of loans that were denied byt SHOULD HAVE been granted.</p><p></p><p></p><p></p><p>I think you might be taking a bit of a leap in the title of the thread.</p><p></p><p></p><p></p><p>Oh, and by all means, all of you interested, watch the documentary: "Inside Job!"</p><p></p><p></p><p></p><p>The issue here wasn't so much that there wasn't regulations and agencies. There were. The main issue is that for a system to work, there must be incentives that balances the disincentives (pros that balance cons, risks that balance rewards). CDO (collateralized debt obiligations) are the biggest culprit in the subprime housing crisis, and couple them with the fact that there really was little disincentive for home buyers who couldn't make their payments to simply walk away, and that is why what happened happened. These CDOs were toxic, plain and simple, and sold most often with AAA ratings.</p><p></p><p></p><p></p><p>See more...</p><p></p><p></p><p></p><p>TJR</p></blockquote><p></p>
[QUOTE="Thomas Rogers, post: 963045, member: 60724"] Hugh, I don't see it, not from the article and not from other news of late. Yes, some lenders and their practices and recent lending practices in certain areas (low income, etc) are being looked into, but that is not news. There have always been watchdog agencies (HUD, FHA, ...) under every administration that does such oversight. I don't see this as: "Obama pushing for sub-prime loans." I wouldn't even say that these articles are making the case that "Obama is pushing for banks to make bad loans", which I think in more general terms is what you are trying to say. Again, reviewing lending practices to make sure all is kosher is what agencies SHOULD do. If done properly it will cut both ways. Agencies will see loans that SHOULD NOT be given to some, and might catch examples of loans that were denied byt SHOULD HAVE been granted. I think you might be taking a bit of a leap in the title of the thread. Oh, and by all means, all of you interested, watch the documentary: "Inside Job!" The issue here wasn't so much that there wasn't regulations and agencies. There were. The main issue is that for a system to work, there must be incentives that balances the disincentives (pros that balance cons, risks that balance rewards). CDO (collateralized debt obiligations) are the biggest culprit in the subprime housing crisis, and couple them with the fact that there really was little disincentive for home buyers who couldn't make their payments to simply walk away, and that is why what happened happened. These CDOs were toxic, plain and simple, and sold most often with AAA ratings. See more... TJR [/QUOTE]
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SportTrac Discussion
General Sport Trac Discussion
Obama admin pushing banks to offer sub-prime mortgages again...
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