OnePercenter
Gold Member
- Apr 10, 2013
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The Federal government forced banks to issue more and more sub-prime loans. Then the Feds said we want even more...so they used Fannie and Freddie to back those sub-prime loans, which allowed the banks a freer hand without consequences. F&F eventually had portfolios that consisted of 70% sub-prime.
I am all for prosecution of banksters, but we need to recognize that the real culprit are the assholes in DC.
Here is the truth.
No Lending To Poor People Did Not Cause The Financial Crisis ThinkProgress