devassocx

Minyanville: Subprime Lending Is Back with a Vengeance

California has no shyness about borrowing money, no matter what
it ultimately costs taxpayers.


On May 12 09:13 AM nym wrote:

> You give no indication of the size of these programs: they may be
> more window dressing to calm the lefties. In the case of California,
> like the feds, the money would have to be borrowed.

Fannie and Freddie Did Not Cause This Crisis

There were a lot of players in this failures and nobody wanted it to stop.
Not the borrowers
Not the lenders and their agents
Not Wall Street
Not the home builders
Not the local governments
Not the state governments
Not the fed government
(because of all those tax $)

But the primary responsibility for all of this imo are our federal
legislators who pushed for easier lending, took lots of campaign money
from most of the above list, and failed to enable proper regulation
of all those more than stupid financial instruments.

There are reasons why Congress is held in such low esteem.

Please remember that when you vote in November.