Geo,

Isn't it valid to say that the policies instituted by FannieMae and FreddieMac as far as dropping eligibility requirements for purchase of those obviously shakey loans, provided the incentive for making them in the first place? Sure, salesmen took advantage of it, but it would not have happened if the political agenda of "Affordable Housing" had not been instituted. This was a political act by the Democrats, facilitated by Gorelick and Raines, both who had worked in the Clinton administration.

It's not like the collaspe was a surprise. The Bush administration warned about it for years, McCain spearheaded a 200 Billion injection in (as I remember) 2005. Nothing really was done, Dodd threatened filibuster in the Senate, and Frank accused Republicans of Racism in the House.

Last edited by Ken61; 12/18/16 11:50 PM.
I prefer wood to plastic, leather to nylon, waxed cotton to Gore-Tex, and split bamboo to graphite.