More proof the government, the demorats own this, doorknob:<quoted text>
Still blaming Obama for the effects of the Bush recession.
Recovery reaches the top first & the rest later.
"In the case of the subprime borrowers they were charged higher interest rates and were required to pay for default insurance. This higher burden increased the risk of default. The subprime mortgages became bad investments and no amount of securitization would alter this aspect. But the process of producing graduated risk securities backed by the subprime mortgages disguised the fact that they were bad investments. The perceived status of Fannie Mae and Freddie Mac as quasi-governmental institutions enabled them to sell their toxic product world-wide."
your boys own this, dumbass, take your head out of yur rear end and wake up to the truth.