|
The subprime market existed for one simple reason, politicians wanted more people owning homes. There were many different reasons for this, depending on the politician. As is usual though, when government tries to influence behavior, the law of unintended consequences kicks in. So now there's a big mess. But in the final analysis, there is really only one culprit, and that is the lending institutions that made unsound lending decisions.
You can talk about regulation, oversight, or whatever, but nobody, that I'm aware of, was forcing anybody to make bad loans.
__________________
John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
|