Quote:
Originally Posted by Jim in CT
bullsh*t. the law deregulating banks sowing them
to make investments, was passed by a republican legislature and signed by bill clinton.
and it was american people
who bought way more house than they could afford. and fishy investment bankers who bundled mortgage backed securities.
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So americans approved their own loans ? More like they were mislead into adjustable APRs and when rates Blew up so did mortgage payments They could afford A but not B and C which I am sure they were told was never going to happen . And to able to own ones Home isn't that the American Dream.. and the Banks I am sure! used this desire to their advantage. it's easy to say they, the Homeowner should have read the fine Print hindsight is always 20/20 . But the banks knew they were approving loans they shouldn't have been issuing . because they were making Money they didn't care
Hedge funds, banks, and insurance companies
caused the subprime mortgage crisis.
https://www.thebalance.com/what-caus...20in%20housing.
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