OK I have calmed down and want to follow-up on my last post...

I just heard a congressman make a lot of sense and I realized that my last post threw them all under the buss!  This guy said that the government shouldn't be trying to make lenders lend, they should be creating conditions under which lenders WANT to make loans and good loans.  He said every time they try to make lenders lend it ends in bad loans.  He mentioned the community reinvestment act in particular.

Hallelujah!  There are some people that get it!

The problem right now was certainly not created because lenders didn't lend!  The current problems were created because lenders made too many bad loans.  The answer is for government to create conditions under which lenders want to make good loans... then when lenders are making good loans and are making money... SHUT UP and STAY OUT OF THE WAY!

Banks had rules before all of this for a reason.  It amazes me now how mad people get because they got what they asked for all along!

 
Posted by Olan Carder on 02/11/2009 03:24 PM   Comments (0)   tarp, bailout  
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Olan Carder

Charlotte, NC

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Fairway Independent Mortgage

Address: 8430 Read Road, Suite E, Charlotte, NC, 28277

Cell Phone: (980) 721-7478

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