Member of FCIC: "half of all U.S. mortgages are of inferior quality and liable to default when housing prices no longer rise"

Economic CrashFrom American Spectator

As many readers of The American Spectator will know, I was a member of the Financial Crisis Inquiry Commission, a 10-member body appointed by Congress to investigate the causes of the financial crisis of 2008. The Commission issued its report in late January 2011, with a majority concluding that the crisis could have been avoided if the private sector had not taken so many risks and government regulators had not been asleep at the switch. I dissented from the majority’s view, arguing in my dissent that the financial crisis would not have occurred if government housing policies had not fostered the creation of an unprecedented number of subprime and otherwise risky loans immediately before the financial crisis began.

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About 3xG Admin

I am interested in Gold, Silver, Energy, Geopolitics, Economics, Religion, Demography, History, Complex systems, Critical theory, Antipositivism, Sociology of knowledge and Chaos theory.
This entry was posted in Bearish, Doom, Economy, Ultimate Greed and tagged , , , . Bookmark the permalink.

One Response to Member of FCIC: "half of all U.S. mortgages are of inferior quality and liable to default when housing prices no longer rise"

  1. Pingback: US housing market in double dip as prices fall to fresh lows | Gold, Guns and Geopolitics

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