>>1255957You want the actual answer?
Check this out:
https://www.congress.gov/bill/115th-congress/senate-bill/2155>Provisions relating to enhanced prudential regulation for financial institutions are modified, including those related to stress testing, leverage requirements, and the use of municipal bonds for purposes of meeting liquidity requirements.>The bill amends the Bank Holding Company Act of 1956 to exempt banks with assets valued at less than $10 billion from the "Volcker Rule," which prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity fundsWhat does this mean? That basically we are going to repeat 2008 all over again, except bigger when you combine subprime auto loans and student loans defaulting at increasing rates. Banks with less than $10b are allowed to give out mortgages with zero proof of income, zero down, and using fucking municipal bonds to cover closing costs. And it's already underway, Freddie Mac came out this week to offer mortgages with 3% down and no proof of income, you think that will work out well?
If you live in a city and see way too many apartment buildings being built (with nobody to fill them) this is one of the reasons. The population will be merged heavily from 2020-2024 when these housing mortgage rates adjust. And with the car loans, if someone gets their car repossessed they're gonna need to move somewhere with public transportation... yup, a city
It's because the big bank officials that have been appointed in every administration since the 90s want to keep Trump in, so they will allow greedy retards to "buy" houses cheap and use that to say the economy is booming, etc.
