In article
,
Smitty Two wrote:

Sorry, but your account of what happened simply isn't true. You probably
got the fiction from Fox news, or Rush. The real story is far more
interesting. The amount of capital in the world doubled or tripled
within a few short years, while the number of investment opportunities
stayed the same. American home mortgages were the best investment
around, and the world's money demanded more of them. The only way for
mortgage brokers to increase the supply, was to relax the standards for
qualification. And relax they did. It was pure capitalistic greed, not
idealism, that drove us into the dirt.

Neither is yours either. Actually both are right and both are wrong as
both (along with Greenspan's too lax too long money policies, changes in
the way both mortgage and banks were regulated in the early 00s, and
other things too numerous to mention) all put us in the jackpot we are
in today (including to a certain extent nothing worse than returning to
the mean).

--
"Politics should be limited in its scope to war,
protection of property, and the occasional
precautionary beheading of a member of the ruling class."
-P.J. O'Rourke