How has this gotten to a discussion about taxes? How does this have anything to do with the market meltdown? Anyways, the Fed had low interest rates which did promote more lending, BUT it did not promote the ARMs, which is the true root of the problem. The fact is, its a combination. There was no regulation of the ARMs, which was needed, there was corruption (small time and big time) that misled people taking out the ARMs, and there was BAD investment by firms that should know better and wanted to take the easy and quick way to get profit without looking at what the market was really doing. This is what caused the problem, taxes are independent of it.
Taxes can be discussed in another thread please. Lets keep this on topic with the mortgage fiasco and its fallout.
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