Quote:
Originally Posted by George W. Bush
When I say Clinton did more, I mean that government, at the time, had the mindset that we needed to forcefeed home ownership to the masses (IE lowerclass people) who can't afford home ownership. We forcibly made getting mortgages artificially easy. That's what caused this. We artificially kept interest rates too low for too long as well...
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I am going to go really far out on a limb and ask a question, please note that it is completely rhetorical. Do you honestly believe that the great number of people defaulting on their mortgages have been carrying said mortgages for eight years or longer? I am going to say "fuck it" and go even further out on the same limb and make the outrageous claim that most people who flub their mortgages do so within the first five years. Who was president five years ago?