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How the subprime mortgage collapse happened

October 12, 2008 - 3:18 am - by Richard Fernandez
Doug
2008-10-12 07:20:48

RWE,
A lot of the stupid things people did would not have been possible prior the Feds and their agents (ACORN) pressuring Banks into lowering standards, under the cover of protecting the underprivileged, but these new standards also enabled Mr and Mrs Stupid (and/or Greedy) to do things that were previously simply not available opportunities.