Comments on: How Fumbling the Bailout Led to the Chicago Sit In http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/ Firedoglake weblog Fri, 17 Feb 2012 22:13:24 -0600 hourly 1 http://wordpress.org/?v=3.1.2 By: Effinayright http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752534 Effinayright Mon, 08 Dec 2008 22:21:36 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752534 <p>Yes of course: banks should be FORCED to lend money to failing companies who likely won’t be able to pay them back. Just as they were FORCED to lend to individuals seeking mortgages they couldn’t afford. It worked, then and it’ll work now!</p> <p>True story: my sister, a SFO lib for years, and a former bank credit manager, told me recently that 15 years ago she and her husband were seeking a mortgage for a new house. The bank (not where she worked) asked them to LOWER the stated income on their application. She thought it an odd request, and now she knows what was going on: the bank was trying to meet a quota of Fannie Mae-compliant loans. A quota set by the feds.</p> <p>It’s a dirty little secret, but the Dems have their pawpritns all over this crisis.</p> Yes of course: banks should be FORCED to lend money to failing companies who likely won’t be able to pay them back. Just as they were FORCED to lend to individuals seeking mortgages they couldn’t afford. It worked, then and it’ll work now!

True story: my sister, a SFO lib for years, and a former bank credit manager, told me recently that 15 years ago she and her husband were seeking a mortgage for a new house. The bank (not where she worked) asked them to LOWER the stated income on their application. She thought it an odd request, and now she knows what was going on: the bank was trying to meet a quota of Fannie Mae-compliant loans. A quota set by the feds.

It’s a dirty little secret, but the Dems have their pawpritns all over this crisis.

]]> By: sdrDusty http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752465 sdrDusty Mon, 08 Dec 2008 21:13:35 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752465 <p>-Back late-<br /> but, oh yes- (@ 06) I think they’re all about circling the wagons and protecting their pot of gold- i.e. their massive executive compensation, etc.<br /> I’d love more detail (Ian @ 46) about this.</p> -Back late-
but, oh yes- (@ 06) I think they’re all about circling the wagons and protecting their pot of gold- i.e. their massive executive compensation, etc.
I’d love more detail (Ian @ 46) about this.

]]> By: Ian Welsh http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752436 Ian Welsh Mon, 08 Dec 2008 20:53:00 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752436 <p>very nice. :)</p> very nice. :)

]]> By: Ian Welsh http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752430 Ian Welsh Mon, 08 Dec 2008 20:51:02 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752430 <p>First time on that one. :) When I saw it I knew it was perfect for, well, most of my posts on the bailout. ;)</p> First time on that one. :) When I saw it I knew it was perfect for, well, most of my posts on the bailout. ;)

]]> By: Ian Welsh http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752428 Ian Welsh Mon, 08 Dec 2008 20:50:06 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752428 <p>Really good point, I need to do an article on the cost of credit being why lower costs aren’t getting passed on.</p> Really good point, I need to do an article on the cost of credit being why lower costs aren’t getting passed on.

]]> By: emerald http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752403 emerald Mon, 08 Dec 2008 20:23:23 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752403 <p>I’ve signed the petition but I don’t think it goes far enough. I actually have an account with BOA. Most of my neighbors do, also due to its proximity to our neighborhood. Shouldn’t we be threatening to move our accounts to banks that are using the bailout money as intended?</p> I’ve signed the petition but I don’t think it goes far enough. I actually have an account with BOA. Most of my neighbors do, also due to its proximity to our neighborhood. Shouldn’t we be threatening to move our accounts to banks that are using the bailout money as intended?

]]> By: ekunin http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752381 ekunin Mon, 08 Dec 2008 20:05:49 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752381 <p>Good idea. How can we use the internet to create such a movement?</p> Good idea. How can we use the internet to create such a movement?

]]> By: PJEvans http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752359 PJEvans Mon, 08 Dec 2008 19:30:38 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752359 <p>Shouldn’t that be people who <strong>do</strong> hold a BofA card?</p> Shouldn’t that be people who do hold a BofA card?

]]> By: PJEvans http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752357 PJEvans Mon, 08 Dec 2008 19:29:59 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752357 <p>28 years.<br /> It just feels like 40.</p> 28 years.
It just feels like 40.

]]> By: Waccamaw http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752341 Waccamaw Mon, 08 Dec 2008 19:17:31 +0000 http://firedoglake.com/2008/12/08/how-fumbling-the-bailout-led-to-the-chicago-sit-in/#comment-1752341 <p>Credit Unions = greatest thing since sliced bread wrt finances.</p> <p>Worked for one during two years of grad school and never met a nicer bunch of staff and customers. Was fortunate to be employed throughout work career in a capacity that allowed membership in an excellent one.</p> Credit Unions = greatest thing since sliced bread wrt finances.

Worked for one during two years of grad school and never met a nicer bunch of staff and customers. Was fortunate to be employed throughout work career in a capacity that allowed membership in an excellent one.

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