tag:blogger.com,1999:blog-7620292423793571584.post8304702970301097694..comments2023-08-25T02:27:50.730-07:00Comments on Road to the Middle Class: Conservative StorytellingChristopher Chantrillhttp://www.blogger.com/profile/04115398168797134843noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7620292423793571584.post-30992879112883571812012-12-06T08:06:34.846-08:002012-12-06T08:06:34.846-08:00Who had these bankers making loans to people who c...Who had these bankers making loans to people who couldn't afford them? You are trying to make it sound like that was a government program, when in fact, it was bankers. The derivative products you speak of were a way to "manage" the risk of these loans by selling them bundled together as "securities". In other words, the bankers who made the loans were quite aware that some number of these mortgages would be defaulted on. Period. It was further abetted by banks with no community ties trying to maximize their return on these shoddy instruments, and jacking up the interest rates on these loans. It wasn't a 30 year bubble either. The housing markets last crash before that was back around 90-91. What gets me the most is how you see "your" part of society as being essentially separate from the working class people. In fact, a nation is the sum of all of its parts.Anonymousnoreply@blogger.com