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Message Subject
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Today Obama Used His Executive Powers To Push Student Loan Reform
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Poster Handle
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Jake101 |
Post Content
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The banks WANTED to make these loans. They couldn't without the Reinvestment Act.
There is one and only one entity that made out well through all this, and that's the banks. There's a reason for that.
Quoting: Jake101 A little bit of history for Jake. The banks lobbied heavily AGAINST the community reinvestment act. Quoting: Cheops No. They did not. Notice how far ahead they came out because of it? They were bailed out for the total term value of the loans. That is no accident. But, if you choose to believe that, then enjoy paying for their scam. Barney Frank's boyfriend certainly appreciated it. Quoting: Jake101 Show me one shred of evidence that the banks lobbied for the community reinvestment act. Quoting: Cheops Don't need to. They made trillions off of it. Unless you believe that was a pleasant accident. Blind people being blind. [ link to www.federalreserve.gov] Here's the federal reserve proposing EXPANDING it. But I suppose the Federal Reserve isn't related to those poor banks. ETA: I'm laughing out loud, at the belief that when 20 trillion dollars is being thrown around, there's no back-door dealing.
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