On a related note - in the late 1990's former Fed chairman Alan Greenspan was the one pushing for relaxing mortgage lending conditions so that more people (translation: people financially unqualified, no matter their ethnicity or background) could buy housing.
IMO, this was an early sign of wokeness, it was one of the factors that drove up housing prices and was one of the major factors in the 2007/2008 economic fiasco.
There were other factors of course, like securitizing and selling dog turd mortgage paper as chocolate mortgage paper, the SEC asleep on the job, etc.
If you ever have a chance to watch "The Big Short" do so!
We would probably be better off without the Federal Reserve.
On a related note - in the late 1990's former Fed chairman Alan Greenspan was the one pushing for relaxing mortgage lending conditions so that more people (translation: people financially unqualified, no matter their ethnicity or background) could buy housing.
IMO, this was an early sign of wokeness, it was one of the factors that drove up housing prices and was one of the major factors in the 2007/2008 economic fiasco.
There were other factors of course, like Wall Street dressing up and selling dog turd mortgage paper as chocolate mortgage paper, the SEC asleep on the job, etc.
If you ever have a chance to watch "The Big Short" do so !
We would probably be better off without the Federal Reserve.
On a related note - in the late 1990's former Fed chairman Alan Greenspan was the one pushing for relaxing mortgage lending conditions so that more people (translation: people financially unqualified, no matter their ethnicity or background) could buy housing.
IMO, this was an early sign of wokeness, it was one of the factors that drove up housing prices and was one of the major factors in the 2007/2008 economic fiasco.
There were other factors of course, like dressing up and selling dog turd mortgage paper as chocolate mortgage paper, the SEC asleep on the job, etc.
If you ever have a chance to watch "The Big Short" do so!
We would probably be better off without the Federal Reserve.
On a related note - former Fed chairman Alan Greenspan was the one pushing for relaxing mortgage lending conditions so that more people (translation: lower income minorities) could buy housing.
IMO, this was an early sign of wokeness, it was one of the factors that drove up housing prices and was one of the major factors in the 2007/2008 economic fiasco.
We would probably be better off without the Federal Reserve.