Get real, you are absolutely ignorant if you believe that the Fed created this mess.. the fed had NOTHING to do with it.
Sub Prime lending existed long before D’s took congress back, and it was always a fringe business... however as automation of credit and CDO’s came to the fore sub prime companies were looked at by large corporations ad good cashflows. They all jumped in, bought out existing ones, or formed their own.. they gave out loans to anyone with a pulse, because they believed they could loan money to just about anyone with no risk.
It had nothing to do with government policy, it had everything to do with corporate greed. Government policy did not create the sub prime mess, and while it may fit your political rhetorical world view, its absolutely false.
Countrywide didn’t wind up belly up do to government policy, Nor did any of these other players wind up in messes because of government mandate.. they got there buy pure and simple greed. They thought they could lend money and then have no risk associated with it... it wasn’t the government that made them do it, it was greed looking at what they believed to be 8 to 14% returns on their money at a time when they were only able to see 4 or 6% in traditional lending.
This “government policy” created the sub prime mess is the most ignorant nonsense ever blathered, its tantamount to the 9/11 truthers nonsense. The absolute sheer and willing ignorance that one has to engage in to repeat that line of crap is astounding.
Just goes to show, the left is the only group with ignorant people who put politics before facts.
The left is NOT the only group...
Good Freaking grief! Can’t you READ???? I said CONGRESS DEMANDED banks lend to people who couldn’t afford it!! What are you??