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Who/what entity would you say is most to blame for the 2007-2009 housing crisis/recession?
Posted on 2/3/22 at 1:34 pm
Posted on 2/3/22 at 1:34 pm
Everybody blames the banks in every single movie or documentary I've ever read on the matter. I've got to say that I think the US government holds most of the blame, in my opinion.
On a related note, how much money do you think those guys that shorted the market before the crash cleared?
On a related note, how much money do you think those guys that shorted the market before the crash cleared?
62
Posted on 2/3/22 at 1:35 pm to grizzlylongcut
Trump
Posted on 2/3/22 at 1:35 pm to grizzlylongcut
I mean it begins with the banks and then probably goes to the Fed
Posted on 2/3/22 at 1:36 pm to grizzlylongcut
home buyers don't get nearly enough blame. just because you get approved for a loan doesn't mean you should take it.
Posted on 2/3/22 at 1:37 pm to grizzlylongcut
fed/banks/clinton administration
Posted on 2/3/22 at 1:38 pm to grizzlylongcut
The Clinton administration had a large hand in it. GW Bush didn't reverse any of their bad policies though.
Posted on 2/3/22 at 1:38 pm to grizzlylongcut
Lots of blame to go around.
I remember Democrats having their race baiting politicians standing in front of congress demanding everyone should be able to get a loan and house even if they had next to nothing for a down payment.
Republican banker folks were happy to make it happen knowing the government would bail them out
I remember Democrats having their race baiting politicians standing in front of congress demanding everyone should be able to get a loan and house even if they had next to nothing for a down payment.
Republican banker folks were happy to make it happen knowing the government would bail them out
Posted on 2/3/22 at 1:38 pm to Jones
quote:
fed/banks/clinton administration
This.
Posted on 2/3/22 at 1:38 pm to grizzlylongcut
Greenspan probably had a hand in it.
Posted on 2/3/22 at 1:38 pm to grizzlylongcut
Posted on 2/3/22 at 1:39 pm to fallguy_1978
quote:
GW Bush didn't reverse any of their bad policies though
Well, it was racist to try and reel em in. And as you know, there is nothing worse than being called a racist in America in the 21st Century.
This post was edited on 2/3/22 at 1:40 pm
Posted on 2/3/22 at 1:39 pm to grizzlylongcut
Funny timing I was just re-watching this scene and was about to make a thread on the M/T board about it.
Posted on 2/3/22 at 1:39 pm to grizzlylongcut
I was just a kid at the time so someone help me out here. Banks would offer crazy loan amounts that people were accepting. A ton of people foreclosed on homes and it created a bubble from so many houses being foreclosed on? Is that right?
Posted on 2/3/22 at 1:40 pm to grizzlylongcut
Fannie mae and Freddie mac
Posted on 2/3/22 at 1:40 pm to GreatLakesTiger24
quote:
home buyers don't get nearly enough blame. just because you get approved for a loan doesn't mean you should take it.
I read this in Tim Dillon’s voice.
Posted on 2/3/22 at 1:40 pm to grizzlylongcut
People that were never going to pay their loans and banks and politicians who allowed them to get the loans they knew wouldn’t be paid back
Posted on 2/3/22 at 1:41 pm to grizzlylongcut
I worked for a bank and the free money / lack of underwriting rigor was AMAZING. Oh how much do you make… $350k as a janitor, perfect I will put that down. No one was checking shite, especially on the equity line side of things. The demand for loans was incredible because banks would resell the debt so they had some buffer, until they bought it all back in MBOs. True shite show.
Posted on 2/3/22 at 1:41 pm to LT
Barney Frank, pushing for "affordable homes for all" while in a intimate relationship with Fannie Mae SVP...
Posted on 2/3/22 at 1:42 pm to grizzlylongcut
Globalist orchestrate crashes all the time. They crashed the car and bought it cheap after. Look at how much was made and by who. No conspiracy. No coincidence.
Posted on 2/3/22 at 1:42 pm to TheAstroTiger
quote:
Banks would offer crazy loan amounts that people were accepting.
The federal government was pressuring banks into making subprime loans they otherwise wouldn't have approved. Because there was a belief that everyone needed to be a homeowner
Janet Reno played a large part in this. Granted the banks did do some shady things bundling these loans that were almost certain to fail with A rated loans and not disclosing the risk.
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