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The government was not responsible for the sub-prime mortgage crisis, only a tiny fraction of sub-prime loans were due to legal mandates (6%). https://www.cbsn
by InclinedPlane 8y ago
The government was not responsible for the sub-prime mortgage crisis, only a tiny fraction of sub-prime loans were due to legal mandates (6%).
https://www.cbsnews.com/news/loans-to-low-income-households-did-not-cause-the-financial-crisis/ https://www.cbsnews.com/news/loans-to-low-income-households-...
- DubiousPusher 8y agoI'm saying it doesn't matter either way. To me it doesn't matter who built or lit the fuse. The piles of interconnecting ordinance were the derivatives. Any asset in a bubble that had decent exposure in a derivatives market could've triggered the disaster. The layers of deals too complex for anyone to understand that entwined many major financial firms are what made the Great Recession "Great".