[angry elephant]

The Banking Crisis was not the sole creation of “Bankers”. Congress critters are as much if not more guilty.”

The banking crisis was caused because of the dims quest to have everyone own a home, even if they had no job. Bankers were not allowed to ask about employment, only income. So welfare queens with five kids could qualify. And the bankers were ordered to provide a certain amount of loans to the low income in order to make any loans at all So they
were caught between a rock and a hard place. Either make crappy loans or make no loans at all.

[grania]

So how does that explain the bankers still getting millions of dollars in bonuses while hard working, responsible US citizens who want to accumulate savings to secure their futures can’t even get a measly 1% interest on savings?

[fr_freak]

And the bankers were ordered to provide a certain amount of loans to the low income in order to make any loans at all So they were caught between a rock and a hard place. Either make crappy loans or make no loans at all.

All true, but, as I understand it, the banking institutions were quite complicit, once they had certain assurances from the government. Then lenders were making these high-risk loans, bundling them into packages, and selling them to investors as AAA-rated securities. That made things 1000 times worse, and has yet to unwind. I'm not a financial guy, so this my layman's understanding of the situation, but the banks are in no way blameless.