09-25-2008, 10:58 PM
The banks were not forced to make loans to people who could not afford them. The banks were required to make a certain amount of loans to people who were normally denied loans for various reasons -- but they were not required to talk these people into buying a house worth three times what they could afford, nor were they required to put false information onto loan applications to make the applicant appear more solvent than they were, nor were they required to bundle the mortgages and trade them like stocks. In short, nobody passed a law that lenders had to be greedy b@st@rds.