How Government Pushed Subprime
Wanna know who else had a lot to gain by pushing lousy subprime loans?
The federal government. Dems got to pretend they were "helping" people by pushing those who couldn't afford it to buy home. Republicans got to feel like they were creating an "ownership society." Fannie and Freddie got to whip up their bogus "revenues" and "earnings" by pretending all those loans were better than they turned out to be.
In the end, as always, by pushing political agendas instead of encouraging healthy markets, they just ended up helping with a historical abberation that is putting the entire world economy at risk.
Way to go, politicians. Now you want government intervention to save the day again?