Securitization so the GSEs could bundle bad loans with good ones and sell them to investment banks to finance the secondary market.
By 2004 92% of the GSEs total loans were ARMs.
The CRA forced banks to offer access to their loans to the surrounding community or face huge fines.
Again, why do you think Holder went after Wells Fargo just recently ?
And why all of the sudden have banks been allowed to stop giving access to easy credit? To STOP allowing their surrounding community members to scream discrimination ?
You actually think banks wanted to fail ?
They didn't and some refused to lower their standards and are now being fined by Obamas justice Dept.
I guess redlining is OK now and the CRA enforcement tool is now history.
Imagine, this started from bogus screams of racism from the likes of Jesee Jackson and orginizations like ACORN, who recieved billions out of this scam.
Get the facts before launching with your ignorance.
The Democrats know their average consituent is as dumb as a box of rocks and thanks to public education they're adding to their voter pool every day by cranking out an endless supply of idiots.
People that haven't the slightest of what their party did to this nation.