grich903 Wrote:
Oct 29, 2012 7:09 PM
Yes, TARP was Bush's baby, under the false premise that the world would end if it wasn't done given him by the FED. The problem was Democrat continued policy of 'everybody should own a home' even if they couldn't actually afford it - a premise supported by the Community Reinvestment Act, where people who had no visible means of support could not be red-lined in a house loan, as long as they were a minority, they didn't even have to have a job or pay check, or prove they could afford the house. It was guaranteed by the FedGov, and the banks had to make the loans.