Thursday, May 6, 2010

AP Reports:Banks should make loans to sound borrowers

The Democrats are not going to like this. Barney Frank and Andrew Cuomo will be particularly upset.

Will this be the death nell of "Affordable Housing"? ("affordable housing" is where uncreditworthy borrowers magically qualify for loans, due to the twisting of arms done by Democrat congressman)

"Our message is a simple one: institutions should strive to meet the needs of creditworthy borrowers, and the supervisory agencies should do all they can to help, not hinder, those efforts," Bernanke said in prepared remarks to a conference on banking in Chicago.

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