Group items tagged

inept government policy, not Wall Street greed, that allowed the financial system to spin out of control

government has put in place a system in which it is easy to gamble with other people’s money — particularly borrowed money — by making sure that almost everybody who makes bad loans gets their money back

If Fannie’s and Freddie’s bonds reflected their true risk, they would never have been bought up by the Chinese government or small investors, Mr. Roberts contends, adding that the government just made things worse when it moved in to secure the two mortgage giants in the fall of 2008.

Between October 2008 and June 2009, the U.S. government committed more than $10 Trillion dollars to economic recovery packages.

Worried Americans Vote & Voice Their Frustration

Obama Makes History, Vows Economic Fix

From 2004 to 2007, Fannie [Mae] and Freddie [Mac] are all of a sudden under assault from Wall Street. Wall Street is trying to take over Fannie and Freddie's business. And Fannie and Freddie, to compete, basically start saying, "We're going to start buying riskier and riskier loans."

all of the data that was the ballast that supported this belief that homes will never lose any value, the underpinnings of that have disappeared.