The Best Explanation I've Seen

In response to Brandon's recent post, check out what Steve Sailer has had to say about the mortgage crisis here. The government didn't order anyone to offer risky loans. They just made it a requisite to get a merger approved between banks. This is why small banks haven't been impacted the way the large banks were. All of the recent mergers and acquisitions were comprised of banks making risky loans.

The government provided the incentive to make risky loans and helped to make sure the largest banks in America were the ones making risky loans. Houses for people who cannot afford houses backfires and you've got an explanation for a large part of the current crisis.

Edit: Or not (link | link).

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Mr. Donald beat you to it.

Mr. Donald beat you to it.