Colli Real Estate

What was the one pivotal thing that triggered this Global financial meltdown?

Did it have something to do with mortgage lending to people who didn’t have a down payment at sub prime rates with a high credit risk? Who pushed these policies?

If you really want a good answer, read this. It was published last December, but nailed both the cause and the aftermath. Funny thing is, ACORN, Carter, Clinton, the CRA, Fannie Mae, Barney Frank, and Chris Dodd aren’t mentioned as causes. Neither is Bush, repeal of the Glass-Steagall act, or deregulation. Government in fact isn’t given as a cause at all. That certainly won’t be a popular view at either end of the political spectrum, just the right one.

http://www.imf.org/external/pubs/ft/fandd/2007/12/dodd.htm

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