re: #1 FurryOldGuyJeans

It’s almost too simple. They blame Alan Greenspan only. They should also point fingers at Fannie and Freddie. They provided a government backstop for all the mortgages. They also point a finger at mortgage brokers. They were under pressure from the Feds to lend money. (Barney Frank famously said he was willing to take a risk with Fannie and Freddie)

They also need to point a finger at the rating agencies. They rated junk AAA. This allowed the junk to be sold to investors at lower prices than it would normally have been sold at.

Then, they need to blame the Treasury for trying to prop up the banks after the bomb went off-they should have let them go bankrupt. They all would be out of business, and the credit markets would be unfrozen by now. They still are frozen-starting to thaw a little. But we have spent trillions of dollars where application of bankruptcy laws would have been cheaper and quicker. TARP was about saving Goldman and the cabal, nothing else.

Just FYI, From 2001 to 2007, Sub prime and Alt-A loans went from under 10% of the market to over 35% of all mortgages.

I out to know, I trade this shit.