Yeah, cheer for the jerks who lost all of the money buying crap they didn’t understand in the first place.
The whole process from top to bottom was filled with morons, but now the morons at the top want to blame all the morons at the bottom.
Guess what jacka$$, if you guys weren’t buying CDOs filled with rotten mortgages, no one would have given those morons who can’t pay their their oversized houses a single damned thing without checking if they were able to pay up first.
actually the banks were forced to make the first loans in the red lined districts. The member like barney frank and maxine waters expected the banks to hold those toxic mortgages for 30 years. They did not understand ecconomics.
The banks sold the notes and soon found they could have zero risk, profit AND political brownie points. So they just loaned to everyone in those toxic loan zones.
That is why the democrats needed amnesty, more toxic loan generator customers.