Proof That Reagan Was The Best President

[Diff-chan]

Er, yes they did. Failure to participate in the bill lead to something-or-other about pursuing discriminatory lending policies.

Not really.

And even if this was the case, it's probably .1% of the cause of the housing crisis. It's so minor it doesn't register. The real issue is fraud due to securitization. Companies bundling up junk loans they knew were junk, bribing a bunch of crooked ratings agencies to make it gold, sell it to their clients as gold, then shorting it on the other side and make money both ways. The fact that they were able to do this was the incentive to pursue shit mortgages. The banks KNEW the mortgages were shit and wouldn't be repaid - it didn't matter.

And you want to blame a bunch of poor people in some right wing fairytale? Get fucked. This stuff is all out there. It's in the news constantly - Citi settled in a sweetheart deal about it like 2 days ago. But yea, it makes more sense that a bunch of janitors and nannies brought down the world economy.