Quote:
Originally Posted by cykoe6
Regardless of the amount of subprime loans under the CRA do you deny that Frank and Dodd blocked legislation to place lending limits on Freddie and Fannie while at the same time receiving campaign cash and sweetheart loans from Countrywide Financial?
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No I don't, but I still don't completely blame it on them. It's the fault of bad businessmen, dumb borrowers, and greedy investors. The fault of many Americans who didn't realize that their home doubling in price every 5 years wasn't normal. No one held a gun to Fannie Mae's head and told them to leverage themselves too much. No one held a gun to the guy making $30k a year and told him to take out a $500k mortgage.