On 2020-10-25 13:29, Punk-BatSoup-Stasi 2.0 wrote:
https://en.wikipedia.org/wiki/Alan_Greenspan
"The easy-money policies of the Fed during Greenspan's tenure have been suggested by some to be a leading cause of the dotcom bubble, and the subprime mortgage crisis"
From November 2005 to 2007, where I lived and was following the market, no houses were purchased by white people, and almost all purchases
This is a rationalization and an excuse. They want to deny the role of criminal misconduct in the mortgage crisis. The easy money policies of Greenspan had nothing to do with it. The problem was criminal misconduct. Vast numbers of dud mortgages were issued, and the regulators lied about it. The basic problem was that the Nationally Recognized Statistical Rating Organizations (NRSROs) had long been committing criminal misconduct without going to jail, and the financial crisis was them committing even more criminal misconduct and not going to jail for it. Which made the criminal misconduct by Angelo Mozilo possible. probably all, were made were made by people with no means to make mortgages payments. The vast majority, possibly all of them, were people with no job, no income, and no assets.