This is not to say that a Crash wouldn't have eventually happened without Bush/Mozilo/Cisneros undermining traditional mortgage credit standards in name of racial equality, just as WWI might not have needed Archduke's assassination. But, why ignore the actual chain of events?
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Clinton tried to bully banks that were pessimistic about minorities paying back their mortgages into lending more. Bush liberated lenders that were optimistic about minorities paying back their mortgages to go hog wild, setting off Housing Bubble/Bust.
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Is Taibbi still not recognizing that nothing in his presentation is in contradiction of yours? They fit together. To focus on the reasonable thought that bankers were primarily motivated by greed, does not touch the PC climate they existed in, which was "primed" for exploitation.
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He’s smart, he recognizes it. He just can’t be seen being smart enough to agree or he won’t be hirable.
End of conversation
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