lol fact?
2008 was caused by the government telling the banks something.
look let's say you have lots of money.
2 white people come to me.
1 is a single parent with 5 children. who dropped out of highschool
and the other is a family man, is married has a wive with 2 kids. and has a small bussines
those 2 people come to me for a loan, you want in the end your loan to be paid back. we are not talking charity here! because we know which one can uses the charity! but business wise. which one is usally more likely to pay back the loan! not syaing the single mom 5 kids no education cant pay it back but it is LESS LIKELY.
ok, so banks/business(not charities) make risk assesment on how likely it is 1 person might pay back a loan. thye have different criteria. somehow clinton adminsitration thought it was racist, because 1 of criteria is stable family other was stable income and some where level of education. so clintons decide dthis was a racist thing to do. and forced the bank to give out more loans. so within this new law, ofcourse banks know they will lose ****. so they lobby for ridiculous things in the law. so they get some kind of protection. it is only normal
after all if i force you to lend money to everyone, you will want something in return so you dont risk losing your money.
ok so now lots of people got loans. so there is this thing socialist dont understand it is called supply and demand. now that more and more people could get loans. demand for houses went up! demand goes up prices go up. this demand is unnatural and caused by the governmetn so it is unsustainable. so now the housing prices are skyhigh,, people start defaulting on loans. that coupled with OTHER influences. caused the 2008 crash
FACT IS GOVERNMENT REGULATION CAUSED THAT CRASH. i know it's a bit complicated and technical for you to understand simple **** like risk management and supply and demand etc etc etc. but these are facts