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Fed,Congress and agencies didn't regulate mortgage lending since they were "beholden" to the financial elite.
2 Comments  |  Bury | 
business | subprime fed regulation banks All

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Written by crikey (#1)
1507 days ago
yep borrowers do have responsibility but the point is that many worthless CDO's consist of predatory subprime mortgages,aggressively sold to consumers who didn't know better.Ever heard of borrowers being told what to put on their application? Some of those subprime mortgages were made to people that don't even exist!
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Written by dandare (#1)
1490 days ago
Dont see how they were all owned by the "elites", anyway dont borrowers have some sort of responsibility in all this too?
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