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Topic | good article about upper middle class entitlement in 'murica |
Darkman124 06/13/17 12:19:28 PM #27: | QuantumScript posted... It happened because of, not even f***ing kidding, leftist policies - specifically ones centered around "helping" people to get into a home. Home ownership became so hyped up and everyone had access to easy money regardless of bank reserves or stable income. This became a bubble and once it started popping, it popped hard. you are very poorly versed on this subject that was one of the, not the only, cause of the problem. the kinds of mortgages available to those buyers through such programs were extremely undesirable. the marketing process used to sell them to these people was dishonest and questionable at best and predatory at worst. equally significant was the removal of barriers between commercial banks (who can give loans by selling them packaged as MBS) and investment banks (who can take out leveraged positions against those very same MBS once they've been sold) equally significant was the utter failure of credit rating agencies to properly rate junk bonds, instead rating them as AAA investment grade, allowing the buyers of the MBS market--pension funds, mostly--to be misled. --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. ... Copied to Clipboard! |
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