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  • doug

doug

9 months ago

in Low Income Borrowers Made Scapegoat Amid Crisis on The Washington Independent
Absolutely incredible. When all else fails...blame minorities and lower income. The article explains that greed was by far the larger problem. Even if Freddie and Fannie hold a lot of mortgages, lets just forget about the other banks who did this. They werent trying to ONLY meet minimal housing standards...they were GREEDY. Greenspan kept interest artificially low and EVERYONE used their house equity to live high on the hog(mostly upper middle class). If Repub and conservatives were so worried about Clintonian rules hurting the housing market then why in the world would they have resisted basic regulations. Why would they try and "deregulate" risky credit default swaps. PPLLEEEAAASSSSEE, stop blaiming the poor and minorities...it just makes you look petty and desperate!!!
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