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A number of things are obvious ...
Sat Aug 20, 2011 8:50am

(1) You don't read. Oh - you COULD, of course; but don't. You're still confusing "oversight" with an accountancy audit. Oversight would be to thoroughly examine random mortgages, from the application upward.

(2) You don't comprehend "credit worthy". This is a judgement call made by the lender. As mentioned before, I've bought real estate several times before - no down payment and no closing costs; in fact, that's how I bought my current home. (The "zero down" thing has been around for years - Bush wasn't the first to sign off on such a thing). Such loans were around under VA and FHA of the LBJ administration).

But in those loans I didn't apply for a loan that I clearly couldn't repay, and had a RECORD of paying my bills on time, and of not dishonoring any obligation. THAT made me credit worthy; there was little or no risk of my defaulting. And THAT's what the oversight committees should have found in all of the loan apps they looked at - or should have looked at.

That last little bit - about not dishonoring your word, and paying your bills as agreed - is a factor of INTEGRITY, which is something else you obviously don't comprehend.

  • I never said Bush stripped regulationsMike, Fri Aug 19 1:13pm
    There you go again, attributing something to me that I've never said. I said the GOP congress wrote the bill that did that. Yes, Bush was not responsible for signing it into law. Clinton did sign it... more
    • A number of things are obvious ... — Lewis, Sat Aug 20 8:50am
    • In reverse order ...Lewis, Sat Aug 20 8:29am
      Frank was NOT of the minority party; at the time of his speech his party was in the majority and he personally was chairman of the House committee charged with oversight. His counterpart in the... more
      • Re: In reverse order ...Mike, Sat Aug 20 3:54pm
        Barney was instrumental in helping pass the Anti-Predatory Lending Act (H.R. 3915) to passage in 2007. That was the first year of the Dem takeover. Prior to that, the Repubs were in control. It is... more
        • Mike -Lewis, Sat Aug 20 9:21pm
          Until you man up, grow a pair of cajones and have the integrity to admit when you've been hit, I'm through with you. This entire exchange would have never existed had you not shot your mouth off... more
          • You came up empty again, I seeMike, Sun Aug 21 12:25am
            I take responsibility for what I write, NOT what you read. I haven't been hit with anything but noise. If I post something that can collaborate your assertions and accusations then it exists. All you ... more
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