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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (39551)12/14/2009 4:52:55 PM
From: DuckTapeSunroof  Read Replies (2) of 71588
 
Re: "Also you have the CRA and related issues, Fannie and Freddie...."

...It’s a universe in which government-sponsored lending agencies triggered the crisis, even though private lenders actually made the vast majority of subprime loans. It’s a universe in which regulators coerced bankers into making loans to unqualified borrowers, even though only one of the top 25 subprime lenders was subject to the regulations in question.

Oh, and conservatives simply ignore the catastrophe in commercial real estate: in their universe the only bad loans were those made to poor people and members of minority groups, because bad loans to developers of shopping malls and office towers don’t fit the narrative.
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