Quote:
Originally Posted by Tentarro
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Unless you're trying to somehow say W and the Republican party were mystically magically the masterminds of the housing crash? How did they do that?
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After years of financial deregulation accelerating under the Bush administration, banks lent subprime mortgages to more and more home buyers, causing a housing bubble. Many of these banks also invested in credit default swaps and derivatives that were essentially bets on the soundness of these loans.