Subject: Re: 50 million to 1
That was a bipartisan cluster, hardly a Pub only fail, cmon now. Leading Dems (Maxine Waters) wanted it to relax financing / loan standards for homeownership by low income. With no doc ARM loans the industry immediately invented, then packaged up in MBS for sale to unwitting foreign buyers and I watched by the SEC, everything that could have gone wrong did. Watch the Big Short sometime.