Does B. Frank and friends have to pay back the losses to the taxpayer for foisting these fiascos on the unwilling public (I have no sympathy for the banks that have BEEN in bed w/ the fed/govt for ages)??
I haven’t heard how many times the GOPe has attempted to repeal that piece of garbage as well (Yeah, I know they support it as much as the Dems).
Banks were apparently forced to make crazy loans to people with virtually no assets, , no job, no income, etc. In trade for taxpayer backing.
The regulators were dragged into Congressional hearings before Barney Frank, Maxine Waters, and Franklin Raines ; then called racists for requiring reasonable regulations . So the regulators folded.
https://www.youtube.com/watch?v=UIjoW_IXos4