CSPAN Washington This Week July 7, 2014
To a safe and sound operation in the early 90s when Interest Rates were 13 or 14 for home mortgage. You had states which prohibited the enforcement of clauses. 30 year mortgages, thinking they would have an average life of seven years. Funded by shortterm deposits. Loansrohibited those under Consumer Protection, transformed those loans into 30 beingow yielding assets funded by highcost deposits. This is one example i have. Many examples where you have state laws designed to protect consumers in particular states without the strong ability to have Natural National laws that are necessary to pro...