posted on Aug, 16 2007 @ 07:16 PM
The thing no one is looking at is the Civil Rights issue.
How often has Jessie Jackson decried the lack of mortgages to black people?
What happens next?
Lenders get tired of bing "shaken down" by Civil Rights leaders, and come up with some kind of quota system. Approving home loans to people without
the means, just to appease Jackson and his ilk.
This is not a racial issue, anyone that does not have the means to own a home, shouldn't be approved based on the color of their skin.
I think the whole sub-prime failure is because of quotas.