That is a good one, the article is nothing more than one man's opinion, which is at the most silly.
This is more than one mans opinion and it’s not in the least silly. Anytime the federal govt. steps in they manage to screw things up. Do your homework.
David Marotta connects the dots unlike the people who believe that bankers deliberately set out to commit financial suicide.
I recall the charges of racism that were thrown about, about "red-lining" and about discrimination against people without good credit history. I know demagoguery when I hear it and that was out and out demagoguery, something that the Left is skilled at.
So the banks and lenders caved. They relaxed or even abandoned credit checks. And for a few years as real estate values went up, it worked. But a house does not produce income, it is an income sink and people who could barely afford the mortgage began refinancing to pay for other things. They were using their home loans like ATM machines. When housing values stopped rising and began declining, the people were tapped out and now owe more than the value of their homes.
But in the end it took the government to begin the process of loosening lending standards. The rest is history and now the entire world is paying for the Lefts "good intentions."