“securities had nothing to do with the crisis. As we’ve noted literally dozens of times before, the financial crisis’ origins lay in Bill Clinton’s decision in the early 1990s to use Big Government to force banks to make mortgage loans to low-income people who were bad credit risks.”
Bullcrap, and then the banks bundled crap loans and labeled them grade A. They sold them to unwitting investors. And they even bet against them with AIG because they knew they were crap.
But the banksters love the story that they were forced to give aunt Beasley a homeloan and they were helpless victims.
Wait a minute. Forcing banks to sell crap loans is ok, but banks reselling crap loans is not?