re: #414 Nimed

Because this “Republicans warned about the bubble” is complete bullshit. In fact, most Republicans in Congress, as well as supply-siders, denied the existence of a bubble right up until the financial meltdown.

The housing crisis had many fathers from both parties — but both the economic policy of the Bush Administration (cutting taxes, encouraging consumption) and the Alan Greenspan Fed didn’t just do nothing to combat it. They both amplified the crisis and left the Treasury with a giant deficit before the current depression.

Everyone forgets about the people who made huge bank off the bubble. The real estate agents, the appraisers, the mortgage brokers, the middleman banks. They new damn well they were signing up people for a adjustable mortgage that would end up beyond their means. They didn’t care. Commissions baby, free market and all that.