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I'm talking about POTUS, not the DB president. He's just one high-profile example of a bank lending to someone who wasn't creditworthy. Not to mention We're on
by save_ferris 7y ago
I'm talking about POTUS, not the DB president. He's just one high-profile example of a bank lending to someone who wasn't creditworthy.
Not to mention We're only 10 years past the worst financial scandal of a generation, which was caused precisely by underwriting mortgages for people who couldn't afford them. 465 banks failed in the US alone during this period[0], the exact scenario they claim that the public would fall into.
The banks have absolutely no leg to stand on in terms of arguing that they alone can determine who should receive loans. They were the ones who blew up the economy 10 years ago and faced no consequences for it.
0: https://en.wikipedia.org/wiki/List_of_bank_failures_in_the_United_States_(2008%E2%80%93present)#2018 https://en.wikipedia.org/wiki/List_of_bank_failures_in_the_U...