Posted by bad_luck on 12/5/2017 7:36:00 PM (view original):
And, if we're going to discuss what caused the recession, the only thing that "forced" banks to give loans to people that couldn't afford those loans was capitalism.
Banks certainly took advantage of sub-prime.... but then again greenspan kept the rates low... and consumers signed the biggest loan they will ever take in their lives without actually thinking it through....
Everyone is at fault... and there is one word to sum it up...
GREED.
I recall that I couldn't ride the train into the city without hearing people talking about flipping real estate at the time... it was insane. No matter where I went it was all the talk.