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Tuesday, Sep 30, 2014
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Rock'n chair Rambler  
Over Taxed, TX  
December 12, 2011 9:39am
 
"the simple problem of re-instating Glass-Steagall to eliminate "too big to fail". "

Ah, if only it were that simple. The long and winding road, (as the Beatles song goes), reaches way back to the creation of Fannie Mae under FDR in the 1930s. The gigantic ball of social engineering manure that FDR started rolling in the 30s picked up speed with the 1977 Community Reinvestment Act under Carter, to stop that vicious, evil, greedy slave master banking practice of redlining certain bad investment areas. The CRA created a system of points-for-pandering to equal oportunity pimps that the Feds used to force banks to comply to "their" lending rules.

This all ultimately resulted in millions of bad loans, failed banks, a multitude of schemes to circumvent the CRA-nazis and leverage risk, like scheister loan package deals, credit risk insurance and a world wide economic disaster.

But hey, to the Democrats and social engineering race pimping nazis, it was all for a good cause. It was all so well intentioned suicidal insanity.

Here's the link of the timeline:
http://en.wikipedia.org/wiki/Subprime_crisis_impact_timeline
     
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