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<blockquote data-quote="tieguy" data-source="post: 635729" data-attributes="member: 1912"><p><span style="color: blue">Greed in an indirect way. Political greed by our politicians being influenced by the greed of special interest groups.</span></p><p> </p><p><span style="color: #0000ff">But clearly the housing bubble was caused by excessively loosening up the credit standards. Thus many people got mortgages that could not reasonably afford them. Lending institutions that did not make those loans available were sued or embarassed into submission. Those that over leveraged their buying power with interest only loans or those that bought houses they could not afford were the first to default. Those that lost their jobs after the economic collapse were next. </span></p><p><span style="color: #0000ff">Nothing reinforces this point more then our government tightening lending requirements this past April. Something that would normally be unthought of during an economic recession when loosening the flow of money is needed to recover.</span></p></blockquote><p></p>
[QUOTE="tieguy, post: 635729, member: 1912"] [COLOR=blue]Greed in an indirect way. Political greed by our politicians being influenced by the greed of special interest groups.[/COLOR] [COLOR=#0000ff][/COLOR] [COLOR=#0000ff]But clearly the housing bubble was caused by excessively loosening up the credit standards. Thus many people got mortgages that could not reasonably afford them. Lending institutions that did not make those loans available were sued or embarassed into submission. Those that over leveraged their buying power with interest only loans or those that bought houses they could not afford were the first to default. Those that lost their jobs after the economic collapse were next. [/COLOR] [COLOR=#0000ff]Nothing reinforces this point more then our government tightening lending requirements this past April. Something that would normally be unthought of during an economic recession when loosening the flow of money is needed to recover.[/COLOR] [/QUOTE]
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