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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Broken_Clock who wrote (77948)4/18/2008 12:35:30 PM
From: koan  Read Replies (2) of 116555
 
Lack of jobs is not what caused this sub prime debacle. Free money from the fed (1% for years)and lack of regulations (established) of investment banks allowing massive speculation, debt accumulation (easy equity loans) and CDO's and siv's is what caused this housing crises.

This would not have happened using the old rules and regulations i.e. credit requirements, etc.
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