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Message
re: What Happen with the Sub-Prime Mortgage Crisis
Posted on 3/4/19 at 9:05 pm to SlowFlowPro
Posted on 3/4/19 at 9:05 pm to SlowFlowPro
quote:
it was primarily people who couldn't afford homes taking out mortgages on those homes 2nd was the ratings agencies for committing fraud by intentionally overrated the MBS's 3rd was the banks for loaning people the money for the mortgages
Meh, Banks and Borrowers on equal footing and fault here. Two willing parties to those contracts..
1
Posted on 3/5/19 at 4:02 am to Dawgfanman
quote:
Banks and Borrowers on equal footing and fault here. Two willing parties to those contracts..
Don[t see how you can blame the banks - they were required by law to provide low-interest to racial minorities. You cannot blame the borrowers either - if the government says you get 'free money' it would take a saint to not take advantage of that.
The blame is m=completely on the government = DEMOCRATs forcing a destructive policy onto the nation for a temporary political advantage of "battling racism"
Bush tried to warn congress that it was unsustainable - Dood/Frank laughed at him and declare "all is well - you racist SOB!!!!"
Then it all imploded - and Bush got the blame. As usual.
DEMOCRATs create a massive disaster - blame GOP for it - rinse, repeat since Reagan.
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