Phil (oldcookieman) wrote,
Phil
oldcookieman

  • Location:
  • Mood:
  • Music:

Current Economic Situation

Insert-greed,
Insert-greed,
Insert-greed.


Banks were banks until 1995 when the law forbidding them from dabbling in other endeavors came to an end.
The law requiring banks to make loans to a certain percentage of certain groups, without regard to their risk helped increase the default rate.
Little or no regulation concerning the sub prime mortgages, well, what can I say. I'd rather be listening to a Roy Buchanan tape.
  • Post a new comment

    Error

    default userpic

    Your IP address will be recorded 

  • 3 comments