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RUSTY40 commented on Bloomberg: 'Plain and simple,' Congress caused the mortgage crisis, not the banks

Step 1) Everybody regardless of credit can now get a mortgage. Step 2) The loans have to be gauranteed Step 3) Good loans have to packaged with bad loans to sell the portfolio Step 4) The portfolio has to be insured Step 5) More and more loans have to be given to people with poor credit Step 6) Not enough good loans to balance the bad loans in the portfolios Step 7) The portfolios have to be insured Somebody tell me where this started.

Posted on November 3rd, 2011 12:37pm

 

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