I’m going to cut you off: no. It had nothing to do with housing policy. It happened because new derivative products allowed junk-rated mortgages to be pooled and repackaged as AAA-rated securities. The loans were made en masse because they could be quickly resold for profit.https://twitter.com/snoopuhh/status/1040349343088291840 …
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The GSEs encouraged loan originators to make bad loans by agreeing to buy them, but the lenders ended up collecting fees and offloading the credit risk to the taxpayer.
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