Anarchocrapitalism, "libertardianism", et al.
jamesd at echeque.com
jamesd at echeque.com
Fri Jan 5 23:21:29 PST 2018
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.
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