coveyrise Wrote:
Dec 12, 2012 8:46 AM
Well you are wrong. The economic crash that actually started in 2007 and culimnated in the fall of 2008 was a direct result of the Flaky Home Mortgage Scheme cooked up during the Clinton Administration and made worse by allowing Flaky Home Loans to be sold as Mortgage Backed Securities the same as if they were valid security instruments. Bush sent both of his Secretaries of the Treasury to Capital Hill a total of 17 times to try to get it stopped and warned of the impending danger if it didn't. Barney Frank said "This is the only way people who don't qualify for a home loan can get one" and it continued until the house of cards caved in.