“Fannie Mae began to offer easy financing terms and lowered its loan standards in order to meet congressionally mandated affordable housing goals and fulfill the company’s trillion-dollar commitment.”
Ok, so it’s OK for bankers to make loans that they know CAN NEVER BE REPAID, as long as they have idiots to buy the paper.
Those are NOT PEOPLE I want anywhere near me, in my private life or at work.
They did...see what happened?
The gov't doesn't "have" to do anything not dictated by the Constitution. We forgot that a hundred years ago and it's now biting us on the ass. BTW: Would the banks have otherwise made these loans without gov't intervention?