[Alter Kaker]

The libs told the banks that if you they didn’t loan money to sub-prime borrowers, the majority of whom were minorities, then they were “racist”.

Forgive me, but that explanation is idiotic. Banks didn't loan to sub-prime borrowers because they were afraid of being accused of being racist, banks loaned to sub-prime borrowers because they could make a lot of money by lending to sub-prime borrowers at higher than normal rates.

The purpose of any corporation is to make money, and that's the only thing that banks -- as all normal corporations -- are interested in.

[Transformers]

No he’s right they did. The banks were demanded by the Feds to open up funding as to not do so was considered discrimatory. This is true.

[Mr. Jeeves]

The libs told the banks that if you they didn’t loan money to sub-prime borrowers, the majority of whom were minorities, then they were “racist”.

Forgive me, but that explanation is idiotic.

For another reason, too - it was Ronald Reagan and the Republicans who pushed the idea that minority home ownership would spawn a new generation of conservatives, because people with a "stake in America" would forsake their sinful ways and focus on improving themselves and their communities.

That worked well, didn't it? ;)

[Arkinsaw]

The purpose of any corporation is to make money, and that's the only thing that banks -- as all normal corporations -- are interested in.

SHORT term profits are all they are interested in. How do they get that (unsustainable) 25% growth next quarter? What do they have to do to meet the analysts unrealistic forecasts?

Truth is, you can't be a growth stock each and every quarter forever.

There are companies right now that are making a profit during trying times but are getting slammed because they "missed" analysts predictions.

We have had a casino going on, not an economy.