click on link in post 17....it is a quick slideshow that explains the mortgage crisis completely
I’ve seen that slide-show before and it is clever and don’t get me wrong, I’m not trying to argue or stick up for the banks, but I clearly remember back in 2008, when all this happened, a lot of stuff was written and a lot of links were posted to hearings in which Bush administration people were warning the Free Lenders like Maxine Waters and Barney Frank (I particularly remember Barney Frank calling them scare-mongers) that the new regulations that REQUIRED banks to lend money to unqualified borrowers would bring down the system.
Typical of Bush wishy-washyness they didn’t keep pushing the issue, but they did put it out there, early in the 2000s, if I remember correctly.
Was that all a lie? Were there no government rules that basically forced banks to lend money to people who “needed a break”?
I certainly remember a LOT of stuff written and spoken on that subject.
Was it ALL not true?
(A lot of it was posted here, by the way.)