| akuma587 said: Forced to make bad loans? Please show me evidence that they were FORCED to make these loans. They were HAPPY to make them and the banking firms actively encouraged their employees to make them. |
The "forced" usualy involves discrimination lawsuits claiming the banks are turning down to many minority loan applications.
Freddie Mac was the government agency that was encouraging it by continuing to buy these bad loans.
Yet, today, America's leaders are reenacting every folly that brought these great powers [Russia, Germany, and Japan] to ruin -- from arrogance and hubris, to assertions of global hegemony, to imperial overstretch, to trumpeting new 'crusades,' to handing out war guarantees to regions and countries where Americans have never fought before. We are piling up the kind of commitments that produced the greatest disasters of the twentieth century.
— Pat Buchanan – A Republic, Not an Empire
