The bankers forced these practices upon themselves-it called greed.
You are ignoring law and history. Your bias is showing.
Government forced banks to use “affirmative action” underwriting and make bad loans to bad borrowers. Those loans were going to go bad from the moment they were made.
Because they were high risk loans from the start, they were given high interest rates to cover the loans that went bad. But they made too many bad loans and then government allowed mortgage based securities to be sold, on the basis of those bad loans.
Take congressional democrats and affirmative action out of the picture, and there would be no crisis today.
Yeah, the greed was on the part of those running the gov’t backed loans at Fannie & Freddie (read: DEMOCRATS).
They were telling all the brokers that they’d buy ANY loan they made to minorities, no matter how unqualified they were.
See, the DEMOCRATS that were running F & F restructured the pay scale so that they got bonuses based on the portfolio size - how many loans were on the books.