6 Jan
2018
6 Jan
'18
7:21 a.m.
On 1/6/2018 2:40 PM, juan wrote:
"The Size of the Bank Bailout: $29 Trillion " https://www.cnbc.com/id/45674390
The reason the banks needed to be bailed out was affirmative action lending, that they were pressured to lend money to illegal immigrants with no income, no job, and no assets to buy million dollar houses in the Bay Area. It is not exactly that they were forced to do it, though the Bank of Beverly Hills was destroyed because the regulators sensed insufficient enthusiasm for the program, which seems very close to forcing them to do it, rather it was politically correct to do it, and politically correct bankers, most infamously Angelo Mozilo, were empowered by the regulators to take over less politically correct bankers.