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No, and the evidence backs this up. Guess who wanted the most to increase home ownership and pressed for subprime loans through stunts like the community re-inv
by newt0311 18y ago
No, and the evidence backs this up. Guess who wanted the most to increase home ownership and pressed for subprime loans through stunts like the community re-investment act? Congress.
Guess whose legally protected rating agencies gave AA+ ratings to massive CDOs? Congress.
Guess who managed to figure out that subprime was going to blow and tried to guard against it? Goldman and assorted hedge funds.
Funny the double standards that we hold markets and government to.
- newsycaccount 18y agoUsing Goldman as a representative of the market is insane--if it were the market wouldn't look anything like it does now.
- newt0311 18y agoOf course not. But thats still better than the government where nobody figured it out.