You know you’re viewed as a gadfly here, don’t you?
Of course, no law stops a bank from writing or underwriting a bad mortgage DUH!
Did you ever finish high school?
Glass-Steagall wasn’t passed to prevent bad mortgages. It was written to prevent banks from getting involved with investment funds that would put customer deposits at risk.
The repeal of Glass-Steagall allowed for investment funds to sell worthless bonds in coordination with banks and thrifts. The money did not come from banks, the banks and thrifts brokered the money for investment funds that had LEVERAGED ACCOUNTS FUNDED VIA DIGITALLY CREATED MONEY FROM THE FEDERAL RESERVE.
The Federal Reserve participated in the financial collapse because they allowed their member investment banks to channel LEVERAGED 10 to 1, 20 to 1 and HIGHER Fed digitally created funds to banks and thrifts for mortgages in order to sell worthless bonds backed by worthless insurance for billions and billions in profits.
The repeal of Glass-Steagall allowed all of this to go forward.
I know it's hard for you to believe, but writing trillions in bad mortgages PUTS CUSTOMER DEPOSITS AT RISK.
The repeal of Glass-Steagall allowed for investment funds to sell worthless bonds in coordination with banks and thrifts.
Which "Investment Funds"? What in Glass-Steagall stopped these "Investment Funds" before?
The money did not come from banks,
In that case, Glass-Steagall would have done nothing to prevent what happened.
the banks and thrifts brokered the money for investment funds that had LEVERAGED ACCOUNTS FUNDED VIA DIGITALLY CREATED MONEY FROM THE FEDERAL RESERVE.
It looked like your lips were moving, but the gibberish that came out made no sense.
they allowed their member investment banks to channel LEVERAGED 10 to 1, 20 to 1 and HIGHER Fed digitally created funds to banks and thrifts for mortgages
You think the banks were borrowing from the Fed to write these mortgages? That's funny. Thanks for the extra proof you don't know what you're talking about.
You know you’re viewed as a gadfly here, don’t you?
Gadfly: a person who stimulates or annoys especially by persistent criticism
Yeah, I guess idiots are often annoyed when I criticize their idiocy.