Republicans continue to lie about class responsibility for the Great Recession


For those who are seriously interested in knowing something more about the financial crisis the Us are in , well take few minutes and read this article.
You’ll know more and you could compare the systems and the triks used on this side of the world….. Enjoy !

Eideard

A flashback from Barry Ritholtz offers fine research and reporting from a traditional publisher of American journalism.

imageProbably need bulletproof one-way glass to view this lineup

As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio…

Commentators say that’s what triggered the stock market meltdown and the freeze on credit. They’ve specifically targeted the mortgage finance giants Fannie Mae and Freddie Mac, which the federal government seized on Sept. 6, contending that lending to poor and minority Americans caused Fannie’s and Freddie’s financial problems.

Federal housing data reveal that the charges aren’t true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.

Subprime lending offered high-cost loans to…

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