My other point was made in my original post.
DavidFarrar with his “mortgage crisis” comment takes the position that “greedy lenders forced unwilling buyers to sign for loans they couldn’t afford.”
Again, in order for a profit to be made, there has to be a willing buyer.
Too many people refuse to admit the buyer is ultimately responsible for the decision to buy the house they couldn’t afford.
If people don’t sign up for risky loans, there is no mortgage crisis.
No, not at all.
But what happened was, the banking regulations were relaxed, allowing banks to give loans to people who were not financially qualified, because A, they knew the government would bail them out, and B, as a consequence, they were now free to make money without risk.
So let me ask you, who shares the major responsibility here for the banks overextending themselves, the banks,their clients, or Congress?
Don’t forget now, it was Bush who supported the first TARP over us fiscal conservatives’ objection.
ex animo
davidfarrar