Why? Clinton actually, banks actually do not like lending money to people who can't pay it back.Originally Posted by tibilicus
http://en.wikipedia.org/wiki/Community_Reinvestment_Act
Re: "Brown, hanged and flogged"
Why? Clinton actually, banks actually do not like lending money to people who can't pay it back.
http://en.wikipedia.org/wiki/Community_Reinvestment_Act
Last edited by Fragony; 01-22-2009 at 14:31.
Re: "Brown, hanged and flogged"
Bushy hardly did a great job of regulating it though did he? He was the one who also stood by and did nothing whilst the sub prime housing market went to the wall.
To be honest if we actually tried to regulate our markets and make sure the banks weren't so careless with who they lend money to we could of probably avoided this. Of course this is hard to do when you have some loonies who think regulation is socialism..
Last edited by tibilicus; 01-22-2009 at 14:41.
"A lamb goes to the slaughter but a man, he knows when to walk away."
Re: "Brown, hanged and flogged"
I love it! European version of Bush Derangement Syndrome.
Reinvent the British and you get a global finance center, edible food and better service. Reinvent the French and you may just get more Germans.
Ik hou van ferme grieten en dikke pinten
Down with dried flowers!
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Re: "Brown, hanged and flogged"
It isn't that easy to just make a law just go away, blaming Bush for this is more then a little bit off.
you read this?
The Equal Credit Opportunity Act, enacted in 1974, makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age. Failure to comply can subject a financial institution to civil liability for actual and punitive damages
Last edited by Fragony; 01-22-2009 at 15:29.
Re: "Brown, hanged and flogged"
Well since we are hanging and flogging I propose we dig up the parliament of 1714 and hang and flog them for allowing George I to be made king in the first place….
Education: that which reveals to the wise,
and conceals from the stupid,
the vast limits of their knowledge.
Mark Twain
Re: "Brown, hanged and flogged"
It will be a triumh when the Brits will have the same rights they had back then.
Re: "Brown, hanged and flogged"
I know what you are saying, and agree with the gist - even if the details don't quite measure up
"The republicans will draft your kids, poison the air and water, take away your social security and burn down black churches if elected." Gawain of Orkney
Re: "Brown, hanged and flogged"
Leave the great man alone. He's the best chancellor that we have ever had. An economic genius. Then to top it all, he is invited to become the prime minister no less, what a colossus of a man. Calm thoughtfulness, charming, humble, self-effacing and witty, the man doesn't need to stand on the shoulder of giants, he lets the giants stand on his!
Yes you ungrateful swine, you don't know how lucky you are. If it wasn't for the Tories and that cow Thatcher we wouldn't be in this mess in the first place. It's all well and good blaming our Great Leader for this mess but remember Thatcher started it all. After 30 years, down comes the edifice of personal greed and corruption of the Tory fats cats who pinched all the cream.
So take heart. Gordon, our Great Leader, will lead away from the zionist, corrupt, capitalist pig of a society and lead us into the sunny uplands of a socialist uptopia.
I can't wait meself, I've already got me bags packed.
There are times I wish they’d just ban everything- baccy and beer, burgers and bangers, and all the rest- once and for all. Instead, they creep forward one apparently tiny step at a time. It’s like being executed with a bacon slicer.
“Politics is the art of looking for trouble, finding it whether it exists or not, diagnosing it incorrectly, and applying the wrong remedy.”
To learn who rules over you, simply find out who you are not allowed to criticise.
"The purpose of a university education for Left / Liberals is to attain all the politically correct attitudes towards minorties, and the financial means to live as far away from them as possible."
Re: "Brown, hanged and flogged"
IA - I don't get you Tories. You won. You got the Labour Party to be just like the Conservative Party. And yet you still complain and draw laughable reference to 'socialism'.
"The republicans will draft your kids, poison the air and water, take away your social security and burn down black churches if elected." Gawain of Orkney
Re: "Brown, hanged and flogged"
LOL. Just don't forget to mail your wallet, checkbook, credit cards and full Power of Attorney to 10 Downing before you depart. :)
Be well. Do good. Keep in touch.
Re: "Brown, hanged and flogged"
Good God IA you sound like one of those Germans inside Hitlers Bunker, all smiles and encouragement while the bombs drop, are you Labour IA?
You could have a future as a Brownite advisor.
Last edited by Incongruous; 01-22-2009 at 17:41.
Sig by Durango
-Oscar WildeNow that the House of Commons is trying to become useful, it does a great deal of harm.
Re: "Brown, hanged and flogged"
That article says something about discrimination but doesn't say anything about the person ability to repay loans more that it's saying that banks can't discriminate against people on grounds of race ect. Well that's what I made from reading that bit you posted.
And I know it isn't the soul responsibility of Bush, the fact is with the kind of free market and capitalist system the world runs boom and bust is bound to happen it's simply unavoidable. What Bush didn't do however was try and soften the blow. He would of been aware as a lot of people predicted that the sub prime market would go kaput and that the worlds banking system would ultimately hit recessions but the fact is him, as well as a lot of other notable world leaders failed to act sooner and instead buried their heads in the sand and tried to ignore the issue. I'm not simplistic to think that it's all down to Bush, but the fact is his administration did little to prepare or act on the problem.
Just look how long it took for any government to actually try and act on the problem. only recently we here in the UK have had a scheme put into help prop up the banks. After that failed we then had another one put in worth even more.
You know what the whole joke is though? Northern Rock, one of the first banks to be hit and be nationalised from the government will still give its employees and big cat executives bonuses this year. That to me is disgusting. Maybe if the government actually quit trying to keep all their attention on keeping inflation levels down and tried to tackle the huge unemployment problem looming over the UK people might actually support the government backed schemes.
I wouldn't be surprised to be honest if this time next year we have another winter of discontent. That's presuming this problem will get worse and unemployment figures will grow.
Last edited by tibilicus; 01-22-2009 at 16:25.
"A lamb goes to the slaughter but a man, he knows when to walk away."
Re: "Brown, hanged and flogged"
Create jobs! That's crazy talk. I mean, come on! These people without jobs are just lazy. They were so lazy that they made the global economy crash, and now they can't even be bothered to get another job.
The rich used to need to the poor. They needed workers, and someone skilled or unskilled could get work easily enough. The difference between the highest paid and the lowest paid was large - 20-30 times on average. Mechanisation meant that fewer workers were needed, and fewer skilled workers. The pool of unemployed had a happy side-effect: they suppressed wage levels. The differential between the highest and lowest paid in a company changed to nearer 80 times.
Jobs and unemployment is a major issue for normal people. We want to work and feed our families. We want to participate and be valued in our communities. And yet it's never that big a deal with the politicians. Somehow 'benefit/welfare scroungers' is always higher up the list. Why do you think that might be?
"The republicans will draft your kids, poison the air and water, take away your social security and burn down black churches if elected." Gawain of Orkney
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