The “affordable housing” advocate organizations continue to blame the crisis, past and present, on lenders and holders of the mortgages, past and present, instead of recognizing the REAL FACTS are that people bought houses they could not afford, and in spite of all the government help some still cannot afford. THAT is not “Wall Street’s fault”.
True but someone had to lend them the money without performing all the financial due diligence.
The government did more damage by offering to buy up all those sub par loans.
It is the government’s fault for putting the taxpayers on the hook for bailing out lenders and investors (and Wall Street).
It’s the government fault for scooping up all the foreclosures and then selling them IN BULK to more investors who are, apparently, now going bust on the same properties.
Who do you think is going to bail them out?