Quote:
Originally Posted by Rico
Actually, this sub-prime mess that is causing all these issues with the real estate market started with the banks relaxing their rules on loans back in the 90s, during Clinton's time in office. That was when credit started opening up to everyone and anyone with a job. It just took all this time for the wave to come crashing down.
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Rico,
loans from "stated income" only did not exist in the 90's did they?
that is just one of the practices that has helped to create the financial mess in the housing market. the financial mess has wide ranging affects, that I believe to be centered around the housing crisis-- the housing crisis that did not get out of hand until this century.
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