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12 October 2008 @ 01:14 pm
While we're in that neck in the woods....  
The financial crisis was not triggered by Fannie and Freddie being "forced" to lend to poor and minority Americans. 

"_ More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.

_ Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.

_ Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics."

You're interpreting the "greed" from wrong perspective.

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