In response to:

So Much for "Cut[ing] the Head Off the Snake"

kenfarah Wrote: Oct 11, 2012 5:22 PM
Wrong again, buckaroo. As explained just above, up to four-fifths of these loans were issued by financial institutions that operated with no federal regulatory oversight. In fact, in 2006, only one of the top 25 subprime lenders was a CRA institution. A few others were mortgage/finance company affiliates of CRA-covered lenders; but even these were separate businesses that didn't operate under CRA rules (including Countrywide, CitiMortgage, and Wells Fargo Home Mortgage). Likewise: the vast majority of the top 20 issuers of risky interest-only and option ARM loans were not CRA-affiliated lenders. The CRA example proves that government oversight not only works; it's essential to maintain safe and sane capital markets.

At risk of further disrupting the President's narrative about his successes in the war on Al Qaeda, it's worth pointing out, per Reuters, today's report that "Gunmen kill US embassy security chief in Yemen":

Masked gunmen shot dead a Yemeni security chief on his way to work at the U.S. embassy in Sanaa on Thursday, in an attack a Yemeni security source said appeared to be the work of al Qaeda. . . .

"This operation has the fingerprints of al Qaeda which carried out similar operations before," said the source, who asked not to be named.