Political Quotes

Barack Obama: Over the last few years, commercial banks and thrift institutions were subject to guidelines on subprime mortgages that…

On the recordSeptember 15, 2008
Over the last few years, commercial banks and thrift institutions were subject to guidelines on subprime mortgages that did not apply to mortgage brokers and companies. This regulatory framework failed to protect homeowners.
Said by
Barack Obama
Democratic · Illinois

Editor's note · Context

Obama discusses the failures of regulatory frameworks in the context of the financial crisis.

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