George wrote:
Still, it was the 1995 re-regulation that lit the fuse and the
continued refusal of (Democrat-controlled) Congress to land
regulations to govern the new policies. In other words, the 1995
regulations requiring low-interest loans was not accompanied by
regulations concerning proper oversight.

You keep on bringing out the ditto head version where the republicans
are as pure as freshly driven snow. From everything I read and heard
nothing could have ever happened without the machine that sliced,
diced and pureed the mortgages by securitizing them. Barney Frank
could have wet dreams about everyone having a house that they
couldn't afford but it couldn't have happened without the crooked
banking process.

Right. Being a Republican is the easy way to get to heaven - you only have
to show up somewhere once every two years instead of every Sunday.

You're wrong about the crooked banking process. There was nothing illegal
about what the bankers, lenders, or loan-consolidators did.

But you're right about the "sliced, diced" bit. Regulations were set up to
facilitate home ownership but there were insufficient regulations to oversee
this new facility.

The whole shebang just proves Alan Greenspan's observation that most
problems in society are caused by an upstream liberal 'solution' that has
gone wrong. In the case of the housing market, horribly wrong.