Wednesday, July 13, 2011

What could POSSIBLY go wrong?

Holder Launches Witch Hunt Against Biased Banks
In what could be a repeat of the easy-lending cycle that led to the housing crisis, the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, according to court documents reviewed by IBD...In effect, Justice is using private banks to carry out affirmative-action lending, [Former rep. Ernest] Istook says, a campaign he describes as "legal plunder."
Santayana said that "those who forget the past are doomed to repeat it." So, apparently, are those who remember the past but don't have clue one as to what actually happened. And those who remember the debacles of the past as serving their own particular interests.

And no, this isn't from The Onion - it's Paul Sperry in Investor's Business Daily...

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