This i s a video worth watching. Thomas Sowell explains the 2008 financial crisis.

This was Jimmy Carter’s policy coming back to haunt us 3 decades later.

Addendum : June 27, 2005 Representative Barney Frank Homeownership: "You will not see a collapse ... we'll continue to push for homeownership"

Also, GM requested a loan to make payroll. Obama told them that they are going to file for bankruptcy! Obama shut down Oldsmobile, Saturn and Pontiac and then installed a CEO! Obama also cut the retirements of salaried retirees and blamed them for the bankruptcy.

Carter twisted the arm of the mortgage industry to lower conditions around mortgages, largely for blacks. Lack of home ownership among blacks, because many couldn't meet mortgage requirements was considered racist. Carter's solution precipitated the Bush/Obama recession!

Every single person on earth benefits from this man and his wisdom.

Sowell nailed it in 2008. Leverage and hidden derivatives are the real risk. We're seeing the exact same mechanics in crypto right now.

The trillions in bailouts could have paid off millions of mortgages!

So...Dodd/Frank?

It was always that simple. People will never blame Clinton because he was long gone by the time his destruction of proper risk analysis led to its logical conclusion, trillions loaned to people who every historic metric said wouldn’t pay it back … and then they didn’t Duh

Diversity Equity Inclusion

> changed rules