Not good enough. Find actual information that indicates that they had evidence that they did something prosecutable and link to those stories.
The problem here is in the deregulation that was the Gramm-Leach-Bliley Act that repealed the Glass-Steagall Act. What was once illegal, such as a bank participating in speculation, was no longer. The problem was that there were areas that were not regulated, such as in the mortgage brokerage business. Regulated banks had rules to apply when granting loans that mortgage brokers didn't. So, while a regulated bank could grant subprime loans, it had to qualify the borrower and have more reserves to handle the additional risk of those borrowers.
Mortgage brokers didn't. They sold high risk subprime loans to everyone because those brought the highest price when the loan was sold to Wall Street because of the higher interest rates for investors. They sold subprime loans to fully qualified customers too. People defaulted on their loans. They were lawfully foreclosed, regardless of how they were sold the loan.
Dude, all you have to do, if you are so inclined, is search "Obama" and "foreclosure crimes." Or search David Dayen foreclosure articles. But you won't. Because you worship at the Democrat altar.....like a clueless pleb.
As for David Dayen, he basically pays out the problem that I describe, that of deregulation. The foreclosures that I mention are those from the unregulated market, from the brokers through various financial firms. These firms are handled at the state level, so Obama had no power here. You and I agree on the problems that deregulation causes.
Forgery
Securities Fraud
Wire Fraud
Mail Fraud
Fraud Upon the Courts
Not good enough. Find actual information that indicates that they had evidence that they did something prosecutable and link to those stories.
The problem here is in the deregulation that was the Gramm-Leach-Bliley Act that repealed the Glass-Steagall Act. What was once illegal, such as a bank participating in speculation, was no longer. The problem was that there were areas that were not regulated, such as in the mortgage brokerage business. Regulated banks had rules to apply when granting loans that mortgage brokers didn't. So, while a regulated bank could grant subprime loans, it had to qualify the borrower and have more reserves to handle the additional risk of those borrowers.
Mortgage brokers didn't. They sold high risk subprime loans to everyone because those brought the highest price when the loan was sold to Wall Street because of the higher interest rates for investors. They sold subprime loans to fully qualified customers too. People defaulted on their loans. They were lawfully foreclosed, regardless of how they were sold the loan.
Is it fun being clueless?
If you have nothing to say, don't say anything.
Dude, all you have to do, if you are so inclined, is search "Obama" and "foreclosure crimes." Or search David Dayen foreclosure articles. But you won't. Because you worship at the Democrat altar.....like a clueless pleb.
As for David Dayen, he basically pays out the problem that I describe, that of deregulation. The foreclosures that I mention are those from the unregulated market, from the brokers through various financial firms. These firms are handled at the state level, so Obama had no power here. You and I agree on the problems that deregulation causes.
You and I do not agree. You think Obama was great and I think he got paid to allow a Great Criminal Crime Spree.
Yet you haven't listed them! I don't see anything about crimes, BTW. I do see that people didn't like his policies though.
I'm done with you. I tried, but I am done.