Someone finally said it

[CrackerBarrel]

Originally Posted by Munchkin03

What do you mean, "finally"? I've been hearing this during the entire crisis.

We all know that this crisis was caused, in part, by how banks made it easier for people who had NO BUSINESS being homeowners to buy places far far beyond what they could afford. Just look at a list of neighborhoods affected the most by foreclosures...the demographics aren't a coincidence.

I think he means that a news source is finally pointing out that banks didn't just decide "Hey, let's stop making sure people are going to be able to pay us back before we loan them money, it'll work out great." To point out that the reason banks made these kinds of loans is because they were coerced to is a big difference from everyone just printing the garbage Barney Frank has been spewing about "Look what the greedy banks that the Republicans deregulated got us into."

[Munchkin03]

Originally Posted by CrackerBarrel

I think he means that a news source is finally pointing out that banks didn't just decide "Hey, let's stop making sure people are going to be able to pay us back before we loan them money, it'll work out great." To point out that the reason banks made these kinds of loans is because they were coerced to is a big difference from everyone just printing the garbage Barney Frank has been spewing about "Look what the greedy banks that the Republicans deregulated got us into."

No, no, no. I absolutely know that the banks were encouraged to lend to riskier people, as a way to right previous wrongs, the CRA being the most glaringly obvious example. Again...I've been hearing this for at least the past year and a half.

[PhiGam]

Originally Posted by Munchkin03

No, no, no. I absolutely know that the banks were encouraged to lend to riskier people, as a way to right previous wrongs, the CRA being the most glaringly obvious example. Again...I've been hearing this for at least the past year and a half.

I personally had never heard anything of it from the media other than a brief sound bite from Fox.

[Munchkin03]

Originally Posted by PhiGam

I personally had never heard anything of it from the media other than a brief sound bite from Fox.

I don't watch much network news at all, unless I'm in an airport. Nothing against it, I'm just not home a lot to watch TV. I guess I just read a bunch of different papers with several viewpoints.

[PhiGam]

Originally Posted by Munchkin03

I don't watch much network news at all, unless I'm in an airport. Nothing against it, I'm just not home a lot to watch TV. I guess I just read a bunch of different papers with several viewpoints.

I go to realclearpolitics.com and read the articles that sound intriguing, this was one of them.

[MysticCat]

Originally Posted by PhiGam

I go to realclearpolitics.com and read the articles that sound intriguing, this was one of them.

That's okay for a start, but I think anyone is better off reading/watching/listening to a variety of news sources from a variety of perspectives -- especially at least one or two news sources that typically do not represent your own views. You're not likely to get that with RCP.

[CrackerBarrel]

Originally Posted by MysticCat

That's okay for a start, but I think anyone is better off reading/watching/listening to a variety of news sources from a variety of perspectives -- especially at least one or two news sources that typically do not represent your own views. You're not likely to get that with RCP.

Ummm... yes you are?

Their top section articles, just from today, are from Chicago Tribune, Time, LA Times, NY Times, Boston Herald, Salon, Washington Times, RCP, Huffington Post, Bloomberg, Indianapolis Star, National Review, Miami Herald, Pittsburgh Tribune-Review, and the Wall Street Journal. If you include the editorials you can add on New York Sun, Washington Post, and San Diego Union Tribune.

That seems to be a pretty wide variety and cover both sides of the political spectrum. Salon and the Huffington Post are both very liberal, a number of the others are kind of liberal/liberal slanted, WSJ is kind of conservative/conservative slanted and National Review and Washington Times are both pretty conservative.

Seems to me like they have it covered.

[MysticCat]

Originally Posted by CrackerBarrel

To point out that the reason banks made these kinds of loans is because they were coerced to is a big difference from everyone just printing the garbage Barney Frank has been spewing about "Look what the greedy banks that the Republicans deregulated got us into."

As long as we all remember that it doesn't have to be one or the other. Some garbage makes pretty good manure -- while the roots of the crisis include the CRA, "corporate greed" (for lack of a better term) and lax regulation can make some pretty good fertilizer.