Yeah - no. Can’t stress enough that this was not the case. Firms like Countrywide and New Century couldn’t give out loans fast enough and they didn’t care if you could pay. The loans went right back out the door and ended up in some sucker’s portfolio as RMBS ten minutes later. https://twitter.com/polsknowls/status/1040352752176492544 …
The point is that Bush pulled back his regulators from regulating hog wild mortgage lenders because Bush demanded 5.5 million more minority homeowners (as part of Karl Rove's plan to win the Hispanic vote).
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Matt watched The Big Short and there was no mention of Hispanics OR blacks. So there.
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Either way, it wasn't Barney Frank (who sucked for other reasons).
End of conversation
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