Iraq is nearly over. BTW we won.

[tw]

Originally Posted by Undertoad

A few appropriate scapegoats of the current scandal are Franklin Raines and Jamie Gorelick.

Both were gone when the major problem in Fannie and Freddie were created. Sub-prime loans that once never exceeded 10% of the loans were suddenly increased to something like 25% of all loans starting 2004 - after Raines and Gorelick were long gone.

Major problem with so many institutions were the large number of sub-prime and other (ie NINJA) loans that were implemented about 2004 to *stimulate* a sagging economy even to people who should not have had those loans. We are now paying for that economic boom recreated only by throwing money at the economy - after Raines and Gorelick were gone. A problem created by the George Jr administration need to *stimulate* the economy.