Posted by tlak on March 11, 2009 at 15:56:57 from (64.130.174.70):
In Reply to: Re: OT/Recessions? posted by Bret4207 on March 11, 2009 at 05:38:34:
"The Gov't forced the banks to loan to unqualified buyers"
And you got your half wrong. The banks had choices. The banks could be labeled as a bank exempt from this kind of loans. Greedy banks and speculators took the banking system down. I think the whole system was small and large Ponsi schemes. It was a system blamed on poor unqualified people that probably didn't even participate when the people that probably stole all the money were bankers, housing speculators and small and large businesses
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