Quote:Its unpopular and unreported but the first last and best line of defense is an informed consumer.


If every borrower asked for an amortization scheduel as part of a long term budget then they would have started walking away from over inflated prices that carried 30 year commitments before the bubble got as big as it did.


Also, this had nothing to do with capitalism. Wht you say? Because at the heart of the mbs credit swap merry ho round were two massive government sponsored entities. The conductor in this fiasco was the community reinvestment act forcing banks to making loans that defied common sense and creating the need for extra actuarial risk displacement that defied sanity.


The greatest political mistake in the history of presidential politics occured in 2008. Mccains team didnt ask the country one simple question, what did the community organizer organize?


Its unconscionable that barrack obama was allowed to run AGAINST a financial crisis caused by the very housing policy most of his legal career was spent promoting and propping up.

 

Wow.   What a contortion.   You've blamed the housing crisis on Obama.   Need I remind you that BUSH was the President for the 8 years leading up to the crash of 2008, and he was still the President during the crash of 2008?   Obama was a 2 year back-bench Senator.   But somehow, he engineered the crash?   That takes the cake.  

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