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Capitalism loses out to Socialism, per Heritage Foundation
18 Jul 2014 11:27 am
If the mortgages were not bad, the "speculative debt instruments" wouldn't have been bad.Cannonpointer » 18 Jul 2014 11:20 am » wrote:
I believe the little monkey has a simpleton's grasp of what caused the meltdown. It was the repackaging of mortgages into speculative debt instruments specifically outlawed by Glass Stegall, not the mortgages themselves, which caused the melt down, little monkey.
The CRA was responsible for the bad mortgages, not Glass Stegall.