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Political Discussion
Reply to "Barney Frank is being quite candid"
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[quote=Anonymous]No one tries to wreck the economy, especially not banks and Wall Street firms. Banks and securities firms did not force anyone to borrow or invest in the housing market or securities based on it. Neither did Fannie or Freddie or the Ranking Member of the House Financial Services Committee. It was a classic bubble and what happened is what always happens with bubbles - more and more and riskier and riskier speculation increasingly financed by credit as long as the market keeps rising and then the bubble bursts and their is a messy correction of bad debt and losing investments. [/quote]
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