Then you want to blame the government housing programs.
You do know that the hated government programs like FHA have been making loans to low income, poorer credit quality borrowers for a long time. With no problems. You never hear of FHA loans being the culprit of the collapse. How about those 100% financing VA loans? Govenment administered and funded. No problem.
How could that be?
So you go ahead and tell me about the big brokerage sub prime operations. Like Countrywide. And Washington Mutual. Tell me how they solicited sub prime loans and what credit quality guidelines they followed and who wrote those guidelines. ( A little hint; it wasn't Fannie or Freddie)
There are only two real culprits in the housing collapse. Greed and the deregulation allowing brokers and hedge fund managers to move into the real estate lending arena.
EVERYTHING THAT FOLLOWED WAS THE RESULT OF THAT ONE DEREGUALTING DECISION. Combined with unbelievable greed.
You do know that the hated government programs like FHA have been making loans to low income, poorer credit quality borrowers for a long time. With no problems. You never hear of FHA loans being the culprit of the collapse. How about those 100% financing VA loans? Govenment administered and funded. No problem.
How could that be?
So you go ahead and tell me about the big brokerage sub prime operations. Like Countrywide. And Washington Mutual. Tell me how they solicited sub prime loans and what credit quality guidelines they followed and who wrote those guidelines. ( A little hint; it wasn't Fannie or Freddie)
There are only two real culprits in the housing collapse. Greed and the deregulation allowing brokers and hedge fund managers to move into the real estate lending arena.
EVERYTHING THAT FOLLOWED WAS THE RESULT OF THAT ONE DEREGUALTING DECISION. Combined with unbelievable greed.