senpar Wrote:
Oct 01, 2012 2:09 AM
less regulated than the CRA-Chartered banks ! The non-CRA banks were able to get away with engaging in all kinds of $chemes-$cams, fraudulent-AAA-credit-ratings, making huge amounts of $$ on each Sub-Prime-Loan they gave out, then reselling them in bundles as AAA-rated ! The CRA was boosted, Glass-Steagall Act repealed in, Senate Banking Cmte Chair, Jan-1995-Jan-2001, Phil Gramm's R-TX, Gramm Leach Blilely Act 1999 ! Treas-Sec: R-Rubin, Jan-95-Jul-99, NEC-Cncl-Dir-93-95, CFR-Chair-2007-prsnt, Treas-Sec: L-Summers-Jul-99-Jan-01, NEC-Cncl-Jan-2009-Dec-2010 Bill Clinton signed the GLB-Act-1999 ! "The Private-non-CRA-Chartrd-banks made up 2/3," "CRA-Chartrd banks, Fan-Fred-others 1/3," of the Sub-Prime-Mtg-Loans given out, 1999-2010 !