How did the Democratically controlled Congress effect the economy by making banks loan money to people who?

couldn't afford to pay the mortgage notes, and why didn't President Bush veto the bill?How did the Democratically controlled Congress effect the economy by making banks loan money to people who?
They broke the bank and then blamed it on Bush.How did the Democratically controlled Congress effect the economy by making banks loan money to people who?
Some people would disagree with your ';the Democrats did it'; analysis, but let's skip the blame game and consider a few points.





If the bankers knew that the loans they were making were very risky, then why didn't they keep more cash reserves on hand to meet that eventuality? True, the Fed relaxed the regulations so that banks were no longer REQUIRED to keep as much cash reserve, but the regulations did not prohibit banks from having a reserve larger than what the laws required. That is, the law said that banks COULD keep only a small cash reserve, but not that banks SHOULD or MUST do so. Now review that first question again. The banker KNOWS it is a bad loan, and is forced to make it perhaps. But was he forced to NOT be prepared for the likely default on that loan?





Of course I suppose there is the possibility that the banker didn't realize how risky those federally mandated loans were. But in that case, what is such a dim wit doing running a bank?
from what i understand, years ago under a democrat regime, a law was passed that banks had to give a certain percentage of loans to minorities no matter what. This lead to people being able to get loans with pretty much nothing. Why didn't any government abolish it?? Same reason no government in the future will.....what do you think will happen if the government takes away the only avenue for a lot of people to get loans?? abolishing it will be a vote killer, it'll take a lot of balls to get rid of one of the most ridiculous situations. Thanks Democrats
they worked with the federal reserve,through fannie and freddie to make unsecured loans while the fed raised interest rates,thus creating the problem that propelled democrats into control. if only the people would look at who is behind it,there wouldn't be a democrat left in office.
Congress does not make banks loan money to anyone.
Who cares? Everyone knows that the economic meltdown was mostly the Republicans' fault.