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Barney Frank
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<blockquote data-quote="Jones" data-source="post: 908604" data-attributes="member: 4805"><p>That's the way banks thought before deregulation, but it simply was not a concern for the lending institutions who were making a killing in the subprime mortgage game. Fannie and Freddie aren't mortgage originators, they were players in the subprime market but they didn't create it. Even if they had stayed away from subprimes in the secondary market there were plenty of private institutions who would have picked up the slack and the end result would have been the same. </p><p>I never said that politician's only role was cheerleading: </p><p></p><p>The lack of regulation and oversight was crucial in allowing so much hidden risk to accumulate in the housing market.</p></blockquote><p></p>
[QUOTE="Jones, post: 908604, member: 4805"] That's the way banks thought before deregulation, but it simply was not a concern for the lending institutions who were making a killing in the subprime mortgage game. Fannie and Freddie aren't mortgage originators, they were players in the subprime market but they didn't create it. Even if they had stayed away from subprimes in the secondary market there were plenty of private institutions who would have picked up the slack and the end result would have been the same. I never said that politician's only role was cheerleading: The lack of regulation and oversight was crucial in allowing so much hidden risk to accumulate in the housing market. [/QUOTE]
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