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Would a rational and greedy banker lend to any subprime applicants without government regulation and bailout?
Would you?
When things slow down banks expand those they will lend to. None of this has to do with the statement that people support Social Security and Medicare.
When things slow down banks expand those they will lend to. None of this has to do with the statement that people support Social Security and Medicare.
They may lend to those subprime applicants but they would charge higher interest rate to mitigate the risk. How could that cause a financial meltdown
How many "lying, stealing and cheating" bankers did the US government imprison in connection with the Great Recession? ZERO.
That shows government's ineptness.
I would say it is the government's corruptness. They knew exactly what they were doing and understood that most Americans really don't care about or understand any of this.
And it was not just the bankers but all the fraudulent applications, liar loans as they were called. All the people associated with that should have been charged. But instead they all walked away with their profits from all of this and we doubled our debt trying to straighten out the mess.
They may lend to those subprime applicants but they would charge higher interest rate to mitigate the risk. How could that cause a financial meltdown
Bankers are greedy but not stupid!
Prior to 2008 even during the great depression home prices nationally never went down year to year. So their was a belief among these cast of characters that that as long as home prices kept rising all these horrible loans would not trigger a financial meltdown. And up until then home prices always went up.
I run with scissors and swim less than 30 minutes after eating a meal.
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