From the Washington Post, we have Ben "Helicopter" Bernanke talking about credit: Fed Chief: Two Sides to Credit Access.
Troubles plaguing lenders and borrowers with risky mortgages may challenge the notion that widespread access to credit is always a good thing, Federal Reserve Chairman Ben Bernanke suggested Friday.
"Recent problems in mortgage markets illustrate that an underlying assumption of the CRA that more lending equals better outcomes for local communities may not always hold," Bernanke said at a Federal Reserve conference.
You mean that loaning a million dollars to people who barely make $50K was a bad idea?
You mean to say that allowing a homeless man to buy five houses isn't a glorious outcome of the "democratization of credit"?
Hot diggity damn! Say it ain't so, dude, say it ain't so!
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