There is no argument here. The collapse was not caused by the Government wanting to help low income people get into affordable housing. It was caused by greedy banks like Goldman Sachs creating securities to sell, and because of that nobody cared who got a loan because they would bundle them up and sell them as securities.You could be working at Sam's club and qualify for a 150,000 loan. This created house prices to go up unrealistically and then the bubble burst.
can we all say Barney Frank and Senate Banking Committee...together ....PLEASE
Yes, it might have been stopped back in what 2002 if ole Barney would have listened.
But barney has never been wrong. He still believes that FNM and FRE are good investments.
Barney is a girl who causes earthquakes !!!
You don't think that campaign and lobby money is for something good for us do you?
Seems like everybody needs a whipping boy, like a Barney Frank....We are such nieve arm-chair quarterbacks, if only we knew half the that goes on in Wash from K Street to Wall Street....
Minting Bank Lobbyists on Capitol Hill - NYTimes.com