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 From:  ANT_THOMAS   7 Dec 2016 09:11 
 To:  fixrman       20 of 23 
41845.20 In reply to 41845.18 
One must be smart, but there's a level of trust given to the lenders to lend responsibly. We're always told to aspire for bigger and better, if that looks within reach because the banks are willing to lend the sorts of money required to get the bigger and better house then it becomes normal.

There will always be the assumption that if the banks are willing to lend such quantities then the banks can afford it, and they've done the relevant financial analysis of the applicant to make sure they can afford it too.

I do agree there should be a level of personal responsibility with all this, but the banks shouldn't have been lending in the way they were in the first place.
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 From:  CHYRON (DSMITHHFX)   7 Dec 2016 14:40 
 To:  ANT_THOMAS      21 of 23 
41845.21 In reply to 41845.20 
"the banks shouldn't have been lending in the way they were in the first place"

That's the understatement of the century. I'm amazed Fixrman doesn't rejoice in the fact it was largely Bill Clinton's fault, but then he's probably ignorant of it.
“Hillary received more votes for president than any white male in U.S. history. Including Donald Trump.
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 From:  fixrman    8 Dec 2016 11:55 
 To:  CHYRON (DSMITHHFX)      22 of 23 
41845.22 In reply to 41845.21 
It would be moronic to say the least that it is largely Bill Clinton's fault because it is WAY more complicated than that.
 
  Did you ever see such a messed up situation in your whole life, son?
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 From:  CHYRON (DSMITHHFX)   8 Dec 2016 17:30 
 To:  fixrman       23 of 23 
41845.23 In reply to 41845.22 
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877322,00.html
 
Quote: 
Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods.
“Hillary received more votes for president than any white male in U.S. history. Including Donald Trump.
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