I DOUBT that many people committed any CRIMES to make this disaster happen.
Greed motivated lenders who KNEW they would not get STUCK with bad debts to lend to people who truly were not qualified.
AS CARE pointed out the fact that Standard and Poor and Moodys unstated risks for the bonds that were bundled around those dubious mortgages was the source of the real estate crises.
Had they been able to correctly indentify that rish, bond purchasers wouldn't have bought those bonds and those NINA loan would have dried up long before this became a problem.
I note how carefully those of you seeking to blame one party or the other avoid this fact.
I've been mentioning it for the last few months and few of you partisans ever engage that issue.
Either you do not understand what I'm talking about, or you ignore the obvious because it doesn't support your theories.
Greed motivated lenders who KNEW they would not get STUCK with bad debts to lend to people who truly were not qualified.
AS CARE pointed out the fact that Standard and Poor and Moodys unstated risks for the bonds that were bundled around those dubious mortgages was the source of the real estate crises.
Had they been able to correctly indentify that rish, bond purchasers wouldn't have bought those bonds and those NINA loan would have dried up long before this became a problem.
I note how carefully those of you seeking to blame one party or the other avoid this fact.
I've been mentioning it for the last few months and few of you partisans ever engage that issue.
Either you do not understand what I'm talking about, or you ignore the obvious because it doesn't support your theories.
