You're missing the point though, it wasn't until a decade later, that most of these foolish loans started getting handed out, between 1996 and 2004, only 9% of loans given were subprime, it wasn't until 2004 to 2006 that the number jumped to 21%, if it was just the government trying to mandate expanded housing, it wouldn't have taken 12 years to happen. No the reason it happened was becuase banks got greedy, they saw that the market was charging upwards and thought that they could make big bank by betting on these high risk borrowers.
The government wasn't the cause of this, it was the greedy stupidity of the banks and thinking that the market would keep going up.
Predictions:Sales of Wii Fit will surpass the combined sales of the Grand Theft Auto franchiseLifetime sales of Wii will surpass the combined sales of the entire Playstation family of consoles by 12/31/2015 Wii hardware sales will surpass the total hardware sales of the PS2 by 12/31/2010 Wii will have 50% marketshare or more by the end of 2008 (I was wrong!! It was a little over 48% only)Wii will surpass 45 Million in lifetime sales by the end of 2008 (I was wrong!! Nintendo Financials showed it fell slightly short of 45 million shipped by end of 2008)Wii will surpass 80 Million in lifetime sales by the end of 2009 (I was wrong!! Wii didn't even get to 70 Million)
