Lender
in example sentence
Later, Maurice Obstfeld pointed out that, in addition to fiscal transfers, a currency union needs clearly defined rules for the
lender
of last resort.
More example sentences with word lender
Now, we've seen this before in the savings and loan debacle, and we know that this kind of fraud can only originate from the lenders, and that no honest
lender
would ever inflate the appraisal, because it's the great protection against loss.
We had incredibly early warnings of it, and it was absolutely unambiguous that no honest
lender
would make loans in this fashion.
In response to that, the industry first started calling these loans liar's loans, which lacks a certain subtlety, and second, massively increased them, and no government regulator ever required or encouraged any
lender
to make a liar's loan or anyone to purchase a liar's loan, and that explicitly includes Fannie and Freddie.
Congress, it may strike you as impossible, but actually did something intelligent in 1994, and passed the Home Ownership and Equity Protection Act that gave the Fed, and only the Federal Reserve, the explicit, statutory authority to ban liar's loans by every lender, whether or not they had federal deposit insurance.
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