To: Citizen Zed
It wasn’t the reckless lending that caused the financial meltdown, it was bundling the reckless lending into derivatives that should have been rated as junk, but weren’t.
3 posted on
02/08/2016 11:43:47 AM PST by
Yo-Yo
(Is the /sarc tag really necessary?)
To: Yo-Yo
It wasn't the reckless lending that caused the financial meltdown, it was bundling the reckless lending into derivatives that should have been rated as junk, but weren't.How anyone could value a portfolio "AAA" that consisted of at least 70% subprime loans is beyond me. To me, that's a good definition of "fraud".
4 posted on
02/08/2016 11:47:08 AM PST by
Night Hides Not
(Remember the Alamo! Remember Goliad! Remember Mississippi! My vote is going to Cruz.)
To: Yo-Yo
Yep, greedy bundlers and the the greedy Europeans that wanted in on the action.
I didn’t put a dime down on my home and actually got 3,000 closing. I haven’t defaulted.
9 posted on
02/08/2016 12:14:17 PM PST by
eyedigress
((Old storm chaser from the west))
To: Yo-Yo
That, and easy cheap money drove the pricing through the roof...
11 posted on
02/08/2016 12:18:35 PM PST by
Axenolith
(Government blows, and that which governs least, blows least...)
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