Clinton administrations role in the Sub Prime/Banking Crisis, etc..

[Bindare_Dundat]

[Bindare_Dundat]

hahahaha moron.

[Slapper]

Not to take any blame aways from Billy Boy, but the bubble was there it would've eventually burst whether sub prime were there or not. The problem is that banks loaded up on mortgage backed securities and took on too much risk by "inadvertedly" taking into their books too many 1 million dollar houses that were really worth ½ million. The sub prime was the spark that ignited the fire, but the ones really to blame are the ones that put so much gas in one tank and did not put the lid on the tank. Namely Da Fed.

The big banks cashed out BIG TIME on the upside of the market though. The only problem is that instead of saving the money for the downside they distributed to their shareholders. Nonetheless I can hardly believe making 1 trillion dollars and losing 100 billion a "loss" to the industry. It may be to the regular gringo because we're the ones picking up the tab.

The One.

[The ChemistV2]

Apparently, left leaning types don't understand that people generally have terrible credit because they consistently fail to pay their bills. When loans were granted to uncreditworthy people, I guess it was believed that they would "magically" change and start paying their bills suddenly. The only people who suggest that sub-prime lending wasn't a major contribution to the credit crisis are going to be of a very liberal type. To admit that once again, one of their supposedly good intention filled programs caused an economic disaster,isn't going to happen. Once again, in trying to accomodate the least productive people in our society, a disaster has unfolded.

[Purge_WTF]

  Bill Clinton and the bleeding heart Liberals definitely played a part in this, to be sure. Common sense dictates that you don't give someone working at McDonald's a loan to buy a house that costs half a million dollars.