Originally Posted by
Dave Cutter
I think the basis of the sub-prime mortgage collapse was..... banks were forced (by federal law) to make loans to a portion of the public who could not possibly repay the loans.
I'm not sure how to put this delicately, but you don't know what you're talking about. Sub-prime loans were precisely the loans that lenders were NOT required to make to any "portion of the public".
Perhaps you got your news/analysis of the Lesser Depression from an entertainment network. When we undid the regulations that prevented an encore performance of the Great Depression for fifty years, we shouldn't have been at all surprised that the banksters would do their best to bring on the show. The S&L crash of the '80s was just the opening act of this deregulation nightmare that has caused a lot of suffering, none of it to the banksters themselves, of course.