Quote:
Originally Posted by Jim in CT
bullsh*t. the law deregulating banks sowing them
to make investments, was passed by a republican legislature and signed by bill clinton.
and it was american people
who bought way more house than they could afford. and fishy investment bankers who bundled mortgage backed securities.
Posted from my iPhone/Mobile device
|
So americans approved their own loans ? More like they were mislead into adjustable APRs and when rates Blew up so did mortgage payments They could afford A but not B and C which I am sure they were told was never going to happen . And to able to own ones Home isn't that the American Dream.. and the Banks I am sure! used this desire to their advantage. it's easy to say they, the Homeowner should have read the fine Print hindsight is always 20/20 . But the banks knew they were approving loans they shouldn't have been issuing . because they were making Money they didn't care
Hedge funds, banks, and insurance companies
caused the subprime mortgage crisis.
https://www.thebalance.com/what-caus...20in%20housing.