“All I can say it this. I new something terrible was going to happen and I was just a little mortgage loan servicing manager in some bank.”
Actually you were probably in the best position to see exactly what was happening.
We had friends who had long experience as loan officers- during the bubble their firm was acquired by one of the subprime outfits. All of the experienced loan officers were then let go, because they knew too much about what made a good loan. The subprime outfit replaced them with new hires who knew nothing about good lending practices. They wanted loan officers who would try to lend to anybody.
“President Bush’s problem was his foolish elite view of what he was supposed to do as President.”
Quite right. Bush’s “Compassionate Conservatism” was just rebranded liberalism. His American Dream Downpayment Initiative was just another liberal insult to everyone who had to work to raise a downpayment, as well as being the sort of minority-pandering that appeals to liberal elitists.
Interstate banking - another disaster that no one will admit.