12-21-2010, 04:43 PM
"The mortgage bundling to investors brought down the real estate market in a very direct way, the rating of subprime mortgages as AAA ... when failing, caused credit to tighten."
Here is my take, liberal democrats pressured the lenders to lower their standards to allow everyone to own a house.Flippers took advantage of the ease of obtaining loans and the race was on.
Bundling came about to spread the risk and lower the losses when it crashed.
A lot of the people complaining about all of this have themselves to blame.Those who lost jobs or were ill have my sympathy, but why should I as a taxpayer have to pay for your house ?
Here is my take, liberal democrats pressured the lenders to lower their standards to allow everyone to own a house.Flippers took advantage of the ease of obtaining loans and the race was on.
Bundling came about to spread the risk and lower the losses when it crashed.
A lot of the people complaining about all of this have themselves to blame.Those who lost jobs or were ill have my sympathy, but why should I as a taxpayer have to pay for your house ?