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What actually happened in 2008? (I was young)
From what I loosely gather (heard, not claim), it was something about mortgage loans lended to applicants who couldn't afford them or mortgage interest rates suddenly rising on already established homeowners (I'm not sure how that one would be, unless mortgages weren't at fixed rates).
I really don't know because "explanatory" (exculpatory) articles play hot potato and shrug, and I wasn't old enough at the time.
Anyone here know?
From what I loosely gather (heard, not claim), it was something about mortgage loans lended to applicants who couldn't afford them or mortgage interest rates suddenly rising on already established homeowners (I'm not sure how that one would be, unless mortgages weren't at fixed rates).
I really don't know because "explanatory" (exculpatory) articles play hot potato and shrug, and I wasn't old enough at the time.
Anyone here know?
@Ash_Kvetchum Basically, oceans of subprime mortgages were given to niggers with no oversight. The Jews then took this debt and it was packaged into products called CDOs that were sliced up and billed as "safe" and then sold to their clients basically as bonds. They would also bet against the same products that they were selling using credit default swaps on these nigger mortgage loans. Once home prices crashed, all these collateralized debt products imploded causing a chain reaction. The Jews were bailed out by the government, because of course they were. The niggers continued being niggers.
tl;dr jews & niggers
tl;dr jews & niggers
@grey @Ash_Kvetchum 2002 changes to the community reinvestment act allowed for lones with no income verification. backed by billions in gov funds in guarantees. people only talk about what happened after 2007... they never bring up the billions allocated in 2002.
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