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Old 11-11-2013, 02:50 PM   #103
L.A. BRONCOS FAN
Mo' holla fo' yo' dolla!
 
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Join Date: Dec 2002
Location: In a bunker in an undisclosed location
Posts: 54,789
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^

There you go proving once again that facts don't matter to the average right-wing ideologue.

Meanwhile, here in the real world...

Quote:
Federal Reserve Board data show that:

More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.

Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.

Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics.

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets reported Friday.
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