Quote:
Originally Posted by BlackCrayon
I'd be curous to hear his take as well. wasn't part of the problem banks offering subprime mortgages and then being allowed to sell those mortgages on the market over and over again causing the pyramid to collapse when people were unable to pay for these mortgages after rates had been increased? in canada, where there are basically no subprime mortgages offered, this didn't happen.
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Yes, but, it is often said that it's the government that "encouraged" the banks to offer such mortgages because politicians wanted to make sure that every constituent could buy a home and vote for them again.
Circle jerk.
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