[oincobx]

>>>Think about it, one could get a variable interest mortgage, $250,000 or less, without even submitting ones tax return.

So you are saying you want to repeal the law that now requires banks to confirm a borrowers ability to pay and also requires them to retain a percentage of the risk when they package their loans into a security?

[Candor7]

So you are saying you want to repeal the law that now requires banks to confirm a borrowers ability to pay and also requires them to retain a percentage of the risk when they package their loans into a security?>>>>>>>>>>>>>>>

No, they are still doing that, banks are not required to confirm ability to pay for sub sub prime mortgages. They have a different insurance scheme now..

All Dodd-Frank really did was to cover up what Frank himself had wrought, which was the purpose of the legislation, blaming the banks for debacle that happened, rather than taking responsibility himself. Then he got out of Dodge.

Now history says Frank and others did nothing,it was the banks they are angelic? ( Spit.)

They should be pilloried and ridiculed.

Repeal that piece of shit law and put in ordinary anti-usury laws against variable rate mortgages and ordinary proof of ability pay requirements.