Odd.
Banks that lent money to people who couldn’t pay it back and people who lied on their mortgage applications are not at fault?
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The banks controlled the process , they implemented the “no doc” policies , they knew the loans were crapola and didn’t care because they had them pre-sold to YOUR PENSION FUND...
>> Odd.
Once responsible banks were infected with charlatans that administered Congressional requirements. That’s unfortunate, but not “odd”.
It wasn't their choice. The law forced them to. It was written in the Act they couldn't refuse a loan based on income. If they tried not to comply, the left wing tried to sue.
people who lied on their mortgage applications are not at fault? Odd.
They didn't have to lie. Because income didn't matter. The banks couldn't ask. They didn't have to be U.S. citizens, either. That question was deemed discriminatory.
The banks had no choice. They took those forced loans to Fanny and Freddie just to get rid of them. F&F bundled them together sold them on the market as GOOD loans.
SOMEONE had to pay off those bogus loans that weren't getting paid, and it had to be us, the U.S. taxpayer. These were OUR "citizens" that scammed the investors of the world.
Once again, the good people of America had to clean up another democrat disaster. And once again, the democrat base walks away debt free.
They were forced to by the government. It wouldn’t be “fair.”
Odd.
It was banks complying with the law that were at fault. Odd, indeed!