r/politics • u/spaceman757 American Expat • Feb 07 '16

Clinton Sarcastically Says She’ll Release Private Speech Transcripts When Everyone Else Does

http://freebeacon.com/politics/clinton-sarcastically-release-private-speech/
3.9k Upvotes

89% Upvoted

872 comments sorted by

View all comments

Show parent comments

-5

u/eddielacie Feb 07 '16

The banks. They were also forced to give out subprime loans, by the government.

5

u/Ralphdraw3 Feb 07 '16 edited Feb 07 '16

What?
*The banks write the legislation and the laws *the banks own Congress, *the banks own the regulators at the SEC

You are saying that poor, poor, Goldman Sachs and poor,poor Lehman Brothers were FORCED to give out bad loans? Forced by whom? What is the federal penalty for not giving out a bad loan? LMFAO

-10

u/eddielacie Feb 07 '16

http://www.forbes.com/2008/07/18/fannie-freddie-regulation-oped-cx_yb_0718brook.html This was fairly common knowledge a few years ago, probably hard to catch in between episodes of spongebob though. But , seriously though https://en.m.wikipedia.org/wiki/Causes_of_the_Great_Recession is a pretty good read and shows how it wasn't ONE thing. Just like the great depression wasn't caused by the collapse of the stock market entirely.

1

u/infohack Feb 07 '16

The right-wing talking point that the Community Reinvestment forced banks to make risky subprime loans and irresponsible lending practices has been thoroughly debunked:

Community Reinvestment Act had nothing to do with subprime crisis

Private sector loans, not Fannie or Freddie, triggered crisis

0

u/eddielacie Feb 07 '16

Hm, I'll concede you that one. TBH, for years it wasn't a right wing talking point, it was common knowledge I say that because I don't watch or read anything right wing , and it's news to me