Quote:
Originally Posted by JohnnyD
At the end of the day, the average American will still be able to go down to their local Credit Union to get a loan. Because the CU can't tolerate has high risks as the larger lenders, then only significantly qualified borrowers will be approved.
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I think the more grim scenarios would argue that this might indeed be the case. Even on the news this morning they were talking about auto loans are requiring very high credit scores to get approval.
I'm not for rewarding bad behavior, but if the alternative is the risk of continued melt-down and the inability to recover we must do something.
-spence
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