securities through the secondary mortgage market. Mortgage originators had every incentive to make all the loans they could, but absolutely no incentive to assure that the borrowers could pay the loans back. Credit standards were relaxed, new “sub prime” products were introduced, “no-document” loans were issued. This system provided a great deal of liquidity to the mortgage industry. But it also removed the risk of making the loan from the loan originator and handed it to a huge, diffuse ” …
Burning Down The House: What Caused Our Economic Crisis? Bombshell
accelerated prices erratically, inviting speculation and loose lending practices which were both condoned and encouraged by existing regulation and carried out by risk-blind executives and Fannie Mae and Freddie Mac. Aside from ripping the corporate goons in the media, please be respectful in your comments. Thanks. Obama Bombshell Redistribution of Wealth Audio Uncovered … Barack Obama John McCain Economic Financial Crisis commentary analysis documentary gotcha! grassroots outreach news SNL …
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