Republicans and democrats replealed Glass Stegal and slick willy signed it. Unverified income to get a home loan was very problematic, Derivatives were the final nail in the coffin. Banks mixing good/bad paper and selling, speculators buying derivatives on the outcome (when teh glass house collapsed)
You're right...I screwed up. Clinton and his AG set it in motion by pushing increased home ownership. Then Fed policies blew it up. Thanks for the correction
When everyone who can’t afford their house defaults on their loans, someone will be waiting to pick up the properties for cheap. It’s intentional.
Yup. Its like a Kmart blue light special if you have enough cash on hand to buy them up.
Yup, we have seen this before.
Republicans and democrats replealed Glass Stegal and slick willy signed it. Unverified income to get a home loan was very problematic, Derivatives were the final nail in the coffin. Banks mixing good/bad paper and selling, speculators buying derivatives on the outcome (when teh glass house collapsed)
I'm sorry, but "08 would have been Bush if I'm not mistaken
You're right...I screwed up. Clinton and his AG set it in motion by pushing increased home ownership. Then Fed policies blew it up. Thanks for the correction
No prob. Lots of things back to back and it is hard sometimes to keep track of it all.
Which they successfully blamed on Republicans.