06-02-2009, 02:12 PM
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So was it really that simple, that a few
greedy Mortgage Brokers writing Sub Primes destroyed Democracy & USA? Or was it the greed of Wall Street with Hedge Fund derivatives insuring investment based on capital that did not exist ... While (Sub Prime) Mortgage backed securities funding new factories in China to move the actual home owners job off shore.
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06-02-2009, 02:44 PM
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Actually it was a combination of banks being forced into loaning money to people they knew couldn't repay the loans (the CRA is a good example of that), it was people living outside their means and buying houses they knew they couldn't afford (all they had to do was some simple math to figure it out), it was greed (banks, government, consumers), it was our society as a whole.
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