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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If the government didn't insure mortgage securities , nobody would have ever given loans to deadbeats or illegals.

Government meddling leads to stupid investments.[/quote]

Investor greed leads to stupid investments and the housing bubble.

Here's what leads to stupid investments:  the banks figured out a way to bundle mortgages and sell them as investments.  The mortgage market became monetized the way stock is monetized. Investors loved them. When they had bundled all of the good mortgages, they started making slightly riskier mortgages and sold those. Investors still loved them. They then started making even riskier mortgages and selling those and so and so on and so on. Eventually they were giving mortgages to people without requiring them to show proof of income.  It created a housing bubble. Economists warned that it was a bubble for 4-5 years before it failed, but no one believed it.

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You're right, except for the fact that not everyone disregarded the economists' warnings.  A few of us listened and shorted the housing market, mwhahahah.  Anyway, I voted for Obama twice and I'm not really sorry about it, although I maybe would have voted 3rd party the second time if Virginia weren't so close.  Obama has since lost me with the NSA thing and the amnesty issue, but I don't think Romney would have been any better, that's for sure (although, I'm almost positive he also bet against the housing market and was too chickenshit to admit it).

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