Interesting Book Review on Cause of Subprime Crisis

[OwlHoot]

The following article might give pause for thought to any wilfully ignorant plebs who insist on blaming "greedy bankers" alone for the subprime crisis:

Fannie and Freddie: a fool’s errand

I won't bother quoting, as the article is only one click away.

[amcdonald]

Nah it was a global problem that started in the UK and was caused by Gordon Brown

Every fool knows that one

Don't start blaming the yanks for everything

[ThomasSoerensen]

this is bulltulip

[Incognito]

The banks never forced anyone to 'massage' their earning potential or the many other devious ways of extracting that magical stream of never ending credit.

If people are *stupid/irresponsible then it's the capitalist way to completely exploit them for it. It's the Socialist way to rub their belly, tell them it'll all be better and let every other ****er pay for their *stupidity/greed.

*delete where applicable

[Mich the Tester]

If you stretch the definition of 'interesting' any further you'll run out of space in the forum.

[ThomasSoerensen]

the ability to securitize the loans was a much more important factor.

and as usual - proper disasters take a mix of several problems so you cannot blame just 1 thing/factor for the crisis.

except if you point your blame to "Human Nature" of self serving greed