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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (145742)	9/16/2014 4:14:45 PM
From: John Vosilla	Read Replies (1) \| Respond to of 149317

It was the bankers who came up with the creative [strange] mortgage instruments that made possible for people who previously would not have qualify to buy homes. To assist the process, appraisals and credit reports were fudged. Once those loans were created, Wall Street came up with derivatives to hide them and Fannie Mae bought them in the secondary market. Who made all this crap possible.......as you say, Bush and Congress.......they were too busy fighting a senseless war in Iraq and too indifferent to the job of governance.......and so looked the other way. Yep. But are we destined to repeating the same process yet again?. Let us also not underestimate the impact of the fed keeping rates so low 2001-04 and again in 2009-15.. All we now need is loser credit for those with lower credit scores. Seems we can repeat it once again when you look at what has happened to auto financing the past year..