No, it was the Democrats who strong armed banks and forced them to issue subprime loans. Then they expanded Fannie Mae so that the taxpayer would be liable for those loans.
Remember back in the day in Chicago Obama led a sit in to force Bank of America to agree to issue subprimes. Stuff like this was the root of the problem.
“No, it was the Democrats who strong armed banks and forced them to issue subprime loans.”
If you can, please send me a link to where the people running these banks actually COMPLAINED about it. I have no recollection, at all, of anyone in that business having any problem with those loans...knowing FULL-WELL that they would never be paid back, on the terms of the note.
I do, however, vividly remember Mozzila or whatever his name is, at Countrywide tell Congress about all the great things they were doing for less-advantaged communities.