It absolutely contributed to the housing bubble, but you’re misunderstanding the incentives: companies loaned to people who couldn’t pay not because of housing policy, but because there was massive market demand for the product. https://twitter.com/ALambertarian/status/1040373206178312193 …
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Replying to @mtaibbi
GW Bush's housing policy wasn't to force cautious lenders to lend more to minorities, it was to get keep his regulators from slowing down over-optimistic true believers in Hispanic reliability like Mozilo of Countrywide and Killinger of Washington Mutual.
5 replies 1 retweet 17 likes -
Replying to @Steve_Sailer @mtaibbi
Dude, WaMu and countrywide were horrific actors in the mortgage market. Please do not assign their predatory money grubbing to anything other than greed. They did this because they could. Pure and simple.
1 reply 1 retweet 2 likes
Angelo Mozilo wanted to triple Countrywide's share of mortgage market to 30%, and he saw Hispanics as the horse he could ride to that goal. Mozilo said Latinos were New Italians who, like him, had been denied opportunities due to WASP prejudice.http://takimag.com/article/the-wisdom-of-dan-quayle/#.W5w10SRtPqo.twitter …
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