Quote Originally Posted by Lyle View Post
Well the government basically telling banks to lend money to people who everyone knew wouldn't be able to pay it back
The government isn't telling anybody to do anything. Both Republican and Democratic leaders have pushed for more minority and low-income housing. Here's George Bush doing just that :

"And so we need more counseling and more education to make sure our fellow citizens know what it means to buy a home and can get comfortable with the idea of buying a home. And so we've doubled the amount of money available for community-based programs, faith-based programs -- (applause) -- to be able to brief their parishioners and/or their fellow citizens about the opportunities and the hope and what it takes to be able to purchase a home."


But minority and low-income housing is something that everybody since jimmy Carter has pushed for. What happened over the past few years was something else entirely. And it was literally the last four years. This took four and a bit years and the Reagan-era one took three and a bit. That's how long it takes for greed to overtake the financial industry when they're given the opportunity to make a lot of money.