bosun.j

Citi: Off the Banking Reservation

"The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation."

It's the last six words of that sentence that The Banksters ignored. It was also the "packaging" of mortgages as securities and trading them multiple times to obscure their origin.

I stand by my indictment of the Bankster class and their huckster henchmen!

On Jan 13 02:17 AM Gob wrote:

> bosun, try looking up the Community Reinvestment Act and getting
> back to us.