You seem to be a decent bloke Atilla, but you really are clueless and a complete and utter sucker for Government propaganda. How can you be so seriously naive? The US government encouraged the banks to make loans available to everyone (sub-prime included) which is why they guaranteed them. They bailed out the banks that were to big to fail and now they are going to sue them! They will need the money again, and they'll get it in another bailout.
Read this document from the Boston Fed if you doubt me:
http://www.bos.frb.org/commdev/closing-the-gap/closingt.pdf
Closing the Gap:
A Guide To Equal Opportunity Lending
This publication offers a program for financial institutions seeking to apply their mortgage lending standards in accordance with equal opportunity goals and to expand their activity in underserved minority markets. Banks, mortgage companies, and other lenders subject to the Home Mortgage Disclosure Act (HMDA) are referred to as “financial institutions” or “lenders.” Specific recommendations are followed by the Federal Reserve Bank of Boston’s conclusions with respect to fair lending challenges. The recommendations are geared primarily to mortgage products but they may be modified to address small business, commercial, and consumer lending. A summary of fair lending laws is also provided.
Yes, that's a good point but why are they sueing the British government, sorry, I mean British Banks, as well?