Off-Topic: I almost forgot

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	Name:	architect -
	Subject:	I almost forgot
	Date:	4/4/2009 8:40:04 PM

This afternoon I heard back from my friend who retired as a VP in a Community bank about 3 years ago. She was a community banker in north Ga. for over 25 years. I briefly discussed the debate we have been having over the last couple of days as to whether government pressure had been brought to influence banks to make loans to unqualified borrowers. She pointed out her area of expertise was not in loans, especially mortgage loans. Her efforts were in what most of what us little people think of as banking such as checking, CD's, savings etc. She says her bank's main envestment activities had been in loans to developers and builders of upscale residential and commercial projects and that even those conservative activities are now turning into a bad situation. She said she was not aware of any government pressure to get into the low income mortagage market. She was aware of considerable pressure from some on the Board of Directors To get on the "profit gravey train" of such mortagages as some of the bank's larger competitors had. Some board members wanted to "milk the cash cow". She said the larger financial institutions fell into the sub-prime market as a business decision and not because of government pressure. She even remembers seeing notices of seminars on such activities at various meetings and conventions of the financial community in the first half of the decade. Bottom line, she says the CRA pressured lenders to get into the low/moderate lending business but didn't envourage bad loans, and that the "big boys on the block" are now trying to blame their foolish decisions and greed on anyone but themselves.

Other messages in this thread:

View Entire Thread

Intellectuals - architect - 4/1/2009 9:48:20 PM

Intellectuals? - Summer Lover - 4/1/2009 10:17:05 PM

What do you believe? - MartiniMan - 4/1/2009 10:17:21 PM

Intellectuals - DJ - 4/1/2009 10:50:24 PM

Intellectuals - rude evin - 4/1/2009 11:27:16 PM

Intelligence - Talullahhound - 4/1/2009 11:30:20 PM

Intelligence - architect - 4/2/2009 12:07:46 AM

Follow-up - architect - 4/2/2009 12:13:34 AM

Suggestion - Summer Lover - 4/2/2009 2:24:12 AM

Architect - READ - water_watcher - 4/2/2009 6:45:05 AM

Intelligence - MartiniMan - 4/2/2009 2:16:35 PM

Intellectuals - JustAGuy - 4/2/2009 2:47:41 AM

Intellectuals - architect - 4/2/2009 8:06:47 AM

Pointless debate? - Lady - 4/2/2009 8:34:28 AM

Pointless debate? - water_watcher - 4/2/2009 10:48:17 AM

Please .... - water_watcher - 4/2/2009 10:49:54 AM

I didn't think so ... - water_watcher - 4/2/2009 2:24:01 PM

I didn't think so ... - architect - 4/2/2009 2:39:06 PM

I didn't think so ... - water_watcher - 4/2/2009 3:32:02 PM

I didn't think so ... - architect - 4/2/2009 7:09:30 PM

I question it.. - alahusker - 4/2/2009 7:44:17 PM

I didn't think so ... - Summer Lover - 4/2/2009 3:45:14 PM

I didn't think so ... - Summer Lover - 4/2/2009 2:42:23 PM

Suppose - Talullahhound - 4/2/2009 5:42:02 PM

Suppose - water_watcher - 4/2/2009 7:04:16 PM

Suppose - architect - 4/2/2009 8:13:58 PM

Suppose - water_watcher - 4/2/2009 8:25:01 PM

Here you go - water_watcher - 4/2/2009 8:29:09 PM

Architect - water_watcher - 4/2/2009 8:48:32 PM

Suppose..YOU ARE SO WRONG - architect - 4/2/2009 9:52:29 PM

Suppose..YOU ARE SO WRONG - architect - 4/2/2009 9:57:17 PM

Read This - It may help - water_watcher - 4/3/2009 5:52:22 AM

Read This - It may help - architect - 4/3/2009 7:44:18 AM

Read This - It may help - water_watcher - 4/3/2009 8:24:11 AM

Here is personal proof - water_watcher - 4/3/2009 8:35:49 AM

Here is personal proof NOT - architect - 4/3/2009 5:40:39 PM

Here is personal proof NOT - water_watcher - 4/3/2009 6:25:52 PM

Here is personal proof NOT - architect - 4/3/2009 9:36:58 PM

Here is personal proof NOT - architect - 4/3/2009 9:43:55 PM

Here is personal proof NOT - water_watcher - 4/4/2009 6:09:38 AM

Here is personal proof NOT - architect - 4/4/2009 8:06:45 AM

Here is personal proof NOT - water_watcher - 4/4/2009 8:30:30 AM

One final thought - water_watcher - 4/4/2009 8:43:29 AM

Here is personal proof NOT - architect - 4/4/2009 9:02:10 AM

Here is personal proof NOT - water_watcher - 4/4/2009 6:51:02 PM

Here is personal proof NOT - architect - 4/4/2009 8:11:02 PM

I almost forgot - architect - 4/4/2009 8:40:04 PM

I almost forgot - water_watcher - 4/5/2009 7:41:55 AM

Here is personal proof NOT - water_watcher - 4/5/2009 7:44:23 AM

Other examples - architect - 4/5/2009 8:02:38 AM

Civil rights? - Talullahhound - 4/4/2009 9:41:00 PM

Civil rights? - cobra - 4/4/2009 10:05:30 PM

Other examples - architect - 4/4/2009 10:21:57 PM

I agree with some - water_watcher - 4/5/2009 8:04:56 AM

Civil rights? - water_watcher - 4/5/2009 7:47:13 AM

Give credit where credit is... - rude evin - 4/5/2009 8:42:53 AM

Give credit where credit is... - architect - 4/5/2009 9:37:09 AM

Give credit where credit is... - water_watcher - 4/5/2009 10:19:38 AM

Give credit where credit is... - architect - 4/5/2009 10:51:08 AM

Give credit where credit is... - water_watcher - 4/5/2009 11:29:52 AM

So - Talullahhound - 4/5/2009 3:22:01 PM

Give credit where credit is... - Lady - 4/5/2009 5:19:40 PM

Give credit where credit is... - rude evin - 4/5/2009 5:42:03 PM

Give credit where credit is... - water_watcher - 4/5/2009 5:49:49 PM

Give credit where credit is... - water_watcher - 4/5/2009 5:47:26 PM

Give credit where credit is... - rude evin - 4/5/2009 6:06:14 PM

Suppose..YOU ARE SO WRONG - water_watcher - 4/3/2009 5:33:25 AM

Suppose - Talullahhound - 4/2/2009 9:33:49 PM

Suppose - water_watcher - 4/3/2009 5:40:40 AM

Intellectuals - au67 - 4/2/2009 9:13:08 AM

Intellectuals - John boy - 4/2/2009 11:27:08 PM

Intellectuals - water_watcher - 4/3/2009 5:42:19 AM

Hey, John Boy... - Mack - 4/3/2009 8:32:39 PM

Intellectuals - AUCATZ - 4/3/2009 12:26:17 PM

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