Something To Think About
Something To Think About – 1/27/2016By H. Randolph Holder
The recent movie “The Big Short” gave a pretty good overview of the mortgage and banking crisis of 2008. However, it failed to identify one big cause: the US Government, specifically Fannie and Freddie’s appetite for sub-prime loans encouraged by a Democratic Congress. And now they’re at it again by selling something called synthetic CDOs as a way of offloading risky loans to private investors, just like those evil Wall Street Banks vilified in the movie.