NO doubt about that!
But the banks were just as free to NOT make those toxic MBS’s as the people were free to NOT buy a house at the top of a housing bubble.
I don’t disagree, I just see that the left is going to get away with blaming capitalism when so called “capitalism” just sits on it’s hands and pretends nothing is wrong. A lot is wrong.
Truth is, we are not a capitalistic country anymore. Do the great unwashed KNOW that? Don’t think so.
The growing unemployed, underemployed, and the jobless loaded with student debt grad without a job are NOT going to go away. This is not clearing out, the country is jobless and there are more massive layoffs in the pipeline.
The conservatives better wake up, or the marxists among us will get the upper hand, and will appeal to these people who feel left out.
We better have answers, and solutions, and a well pointed finger, better than just the “it’s their fault” line of thinking.
No they weren't.
Every financial institution is subject to CRA exams, and Clinton made passing those exams a prerequisite for any bank expansion, merger, or entrance into non-banking financial activities. This was required to get Clinton's signature on Gramm-Leach-Bliley.
People moving didn't have a lot of choice on timing, typically.
As for the banks, what were they supposed to do with the bad debt that was forced on them? And that is very real despite Hillary Clinton's phoney defenses in Media Matters. They DID force banks to issue bad loans. as Obama himself accomplished