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Live Video: CPAC 2010

383
Gus2/18/2010 12:05:20 pm PST

re: #376 Obdicut

The mortgage meltdown was not initiated by Barney Frank.

Most of the lenders who made toxic loans were non-banks not under CRA rules.

re: #351 keloyd

Had a response that I was going to delete…

The sub-prime mortgage meltdown was not initiated by Barney Frank. There where policy measures in place that the mortgage banks thought they could take advantage of but they only represented a small portion of the sub-primes loans. That is, this wasn’t the result of bad loans in urban areas alone which is the common talking point, but throughout the United States and which includes the suburbs. It had more to do with what the mortgage houses and investment firms were doing to support those “bad loans.”