11 Most Costly Disasters of All Time

[Buena Fortuna]

Originally Posted by Sr Mike

So what about those banks lending out mortgage loans to those that could not afford it before the tightening of credit? Like sub-prime loans.

They had the Federal $$ to do it with so they were covered, that's why they did it. They were called before Barney Rubble (Frank) and friends in congress and were accused of all kinds of nasty things for not lending money to "everyone" so they did with the blessings of the Senate and Congress. At the time, who would know that 9/11 and the war on terrorism was right around the corner??? It doesn't justify their actions in any way, I'm just trying to point out that this started before Bush was in office and it will continue for a long time to come...