[pnh102]

I don't think banks should be allowed to use the CWA as a cop-out for their irresponsible lending. Plenty of solvent banks resisted the pressure to make bad lending decisions and they are not having the problems faced by the irresponsible banks today.

[syriacus]

Banks knew they would get favorable treatment from the regulators as long as they handed out mortgages to "underserved" people.

On FR: Breaking the Bank (connecting the Obama subprime dots)

Penny Pritzker, Obama's national finance chair was, with her family, the half owner of Superior Bank, which was shut down in 2001 by the FDIC after it had lost nearly all of its more than $2 billion of assets on bad loans to high-risk borrowers, federal regulators said.

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I don't think banks should be allowed to use the CWA as a cop-out for their irresponsible lending.

I also don't think people should be allowed to use banks as a cop-out for their irresponsible borrowing.