Burning Down The House: What Caused Our Economic Crisis?

November 6th, 2009 by

Check out this video - . It was urged that half of Fannie Mae and Freddie Macs portfolio be made up of low / moderate income borrowers by 2001. Discriminatory criteria such as credit history and down payment ability would become less important, as welfare and unemployment payments would be counted, and stated income allowed borrowers to make up their own income, whether it was backed up by a cash business or nothing but thin air. People were rewarded for signing up loans, not for making sure they would be repaid ... What are your comments?

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