David Thomson
2008-12-20 09:25:54

“First of all there are not enough minority defaults of foreclosures to blame them for the collapse.”

The government’s forcing lending institutions to provide mortgages to minorities possessing poor credit histories opened the door to the disaster. Whites eventually desired to get a piece of the action. They did not want to be left on the outside looking in. The lenders were placed in an awkward situation where it was next to impossible to say no to them.