Re: The pressure on banks to make loans to high risk 2 2 w / bad credit borrower: In what year was it started and who started it?
Real estate / Housing bust U.S. credit crisis is now in part to population pressure on banks to make loans that banks believe may fall into the trouble started censored (subprime) were because the loan of the borrower much compared to their income, have bad credit, or buying a house too big for their budget. This led to the popularization of the sub-prime mortgages that eventually fell apart, as some prudent lender would be covered and perhaps never did it was not for the pressure they have been increasing their loans to almost anyone looking into a Haus.Also to see who it was that started this great idea? Which started to force the banks to do this? Is there a president? Was it the head of some organization? It was community activist groups like ACORN? I think the pressure came from several sources, but I need to know that the greatest responsibility, and when they start to make it spread like an ugly rash on the mortgage market and the house led to the crisis we are today.