Predatory Lending

LOOKS MORE TO ME like what the Treasury did to those banks than what Mr. & Mrs. Redline got from Cheatham & Robbem Mortgage Bank. Nobody held a metaphorical gun to the Redlines heads, after all, to get them to take the money. That is what happened with the banks — such as Wells Fargo. And now the government says it won’t let the banks pay off the money — that the banks didn’t want — early.

So the government has leverage to micromanage — er — regulate (Regulate — that’s the ticket!) the banks.

Sounds predatory to me. Positively extortionate, as a matter of fact. “You’ve got a new partner, Mr. Banker.”

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