11-21-2008, 03:43 AM
>>It's expansion did, however, widen its circle of impact when it DID collapse.
but that has a hell of a lot more due to the demand for mortgage backed securities outstripping supply. and the banks repackaging mortgages so they wouldn't suffer the consequences of the bad mortgages they were writing (which they did anyway). and the individuals interacting with buyers of mortgages were getting paid big money for closing these deals. and how far did these bad loans travel? they were sold worldwide, the chinese holding a ton so we could keep buying the stuff they make.
but you'd rather just say "its the dem's fault"
but that has a hell of a lot more due to the demand for mortgage backed securities outstripping supply. and the banks repackaging mortgages so they wouldn't suffer the consequences of the bad mortgages they were writing (which they did anyway). and the individuals interacting with buyers of mortgages were getting paid big money for closing these deals. and how far did these bad loans travel? they were sold worldwide, the chinese holding a ton so we could keep buying the stuff they make.
but you'd rather just say "its the dem's fault"