Taibbi:The evidence uncovered in the Household suit should put to lie once and for all the oft-repeated myth – spread by many of Americas most notable dumb people, from Rush Limbaugh to New York City Mayor-unelect Mike Bloomberg – that the financial crisis was caused by the government forcing banks to lend to poor people. In reality, of course, the subprime bubble exploded because financial companies and banks were in a mad rush to get as many iffy borrowers into loans as quickly as possible – and not because they were forced to, but because they made assloads of money doing so. SHIFT your thinking on this! rollingstone/politics/blogs/taibblog/lurid-subprime-scams-unveiled-in-long-running-fraud-trial-20131212#ixzz2nYcLr4dy
Posted on: Sun, 15 Dec 2013 19:56:10 +0000
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