Not to bad of a defense from a bushed Bushie!!! (momma always said:”don’t explain and don’t complain because nobody believes any of it and nobody wants to hear it anyways!”)
Some of it I agree with, and some of it is just amazing poofter type stuff.
“All the money coming in from foreign sources...” Give me a break.
Bad loans were being made. Sooner or later they were going to go splat in massive numbers. And guess what. They did.
No amount of creative financing is going to enable a guy making $25k per year to pay for a $300k mortgage. Who knew?
Good grief! And I’m not convinced they aren’t going to continue making loans like this. Now that’s the scary part.