Provocateur
Avoiding Lib Circle Derps
- Jan 19, 2011
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If the lending industry had no way to package off the bad loans and sell them there would have been no way for them to make money off the bad loans.
It was a lack of regulatory laws that caused this mess plain and simple.
Anyone who pretends it was anything else is a fool.
Absolutely, LACK OF REGULATION is what caused this. It was caused by REPUBLICANS and Democrats acting like REPUBLICANS.
Wrongo Nancy.. it was caused by Progressive fucksticks who think everyone's problems were going to be solved by selling people houses and financing them with NINA mortgages and making the American taxpayer the backer.
Although at some point, the bankers must have been told that when it imploded they would be covered.
I don't think the banks ultimately were backed as much as they were promised, even with TARP.
Short sales and foreclosures have become huge losses for the banks and lenders.