They weren’t even SUPPLYING to a real business.
The government of US and CA were subsidizing the market to the tune of about 80% of cost.
So - government subsidized loans - to a government subsidized market - and they still failed?
I’m having a hard time understanding how stupid one needs to be to get to that square on the board. Just pure evil.
Every person who worked in finance department with greater than a BS and 5 years experience needs to go to jail. Because - this is criminal stupidity. Criminal negligence.
Goobermint “invests” for a political return, not a monetary return. Looks like they got their return.