Quote: (10-08-2015 08:49 PM)Captainstabbin Wrote:
1. Most of them.
2. Maybe 10%.
Read the attached article, or this one, it's all included. http://www.theatlantic.com/business/arch...is/249903/
I did read it and always believed they were part of the problem that caused the collapse. I appreciate the links.
With that said, I would put more than 10% on the banks and credit rating companies.
http://www.washingtonpost.com/blogs/ezra..._blog.html
Quote:Quote:
According to a Federal Reserve study, more than 84 percent of the subprime mortgages in 2006 were issued by private lenders:
These junk loans were being packaged and sold on the secondary market as triple a investments. The banks knew they were junk which is why they purchased insurance against those loans defaulting. The insurance companies couldn't possibly pay out when the shit hit the fan.
Quote:Quote:
Hundreds of billions of dollars' worth of these triple-A securities were downgraded to "junk" status by 2010
https://en.wikipedia.org/wiki/Credit_rat...ime_crisis
That wasn't caused by Barney Frank unless you have a link that shows otherwise.
I'm alway open to new information.
Anyway, this is the type of behavior that leads to the destruction of a stable society which was the point of mine.