Quote:
Originally Posted by spence
That's complete nonsense, it was deregulation that allowed lending and securities to become one in the same.
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It was government regulation that led to people who could not afford to pay for a home loan to get one. That led to bad mortgage notes which were bundled in with good ones and then sold to unknowing suckers. Without the plethora of bad notes, that corrupt bundling would not have occurred or been far less destructive.