Quote:
Originally Posted by TripleXPrint
Subprime loans lead to bad mortgages that lead to bad securities that lead to a big fat shit on Wall Street that had to be bailed out and just because Bush was in office during the time of the bailout it's automatically his fault?
Remember this, Community Reinvestment Act? That was the catalyst of this economic crisis but it's Bush's fault now because he had to bail it out. Fucking classic. |
The Community Reinvestment Act accounts for only a few percent of the bad subprime loans in this country. The overwhelming majority of the bad subprime loans were made by investment banks and mortgage lenders who were not under the umbrella of CRA. Only 1 of the top 25 subprime lenders in this country are regulated under the CRA.
What you posted was a lie. It shows you have zero understanding of how the financial system works. Ask a broker one day how this works before you continue to make a fool of yourself on issues.