Can it be Obama's spending worsened subprime defaults?

SoreShoulder

Borrowing and spending trillions would tend to make borrowing money more expensive.  Anyone with spare cash on hand could get a better deal from a government bond than putting the cash in a bank.  

If subprime borrowers missed some payments, I think the banks were entitled to renegotiate or sell the debt to another lender.  

The terms were surely much harsher than when the loans were taken out, because the country was much more heavily in debt because government bonds were more attractive than CDs. 

chiefr

The "Subprime" market was created after Bill Clintons inauguration when DEMOCRATs had total control of both houses of congress. Some of you will remember the Assault Weapons ban was created by the same DEMOCRAT congress and signed into law by a DEMOCRAT POTUS during the same period.

What caused the subprime market was all of the members above and in the interest of fairness decided to force lenders such as Freddie May, Fannie Mack, Country Wide etc loan money to people who never should have been given loans in the first place.    

Of course dishonest dirty corrupt media and a chorus of DEMOCRATs went and blamed Bush for the debacle when Bush was the one who fixed the problem.

mac10

auto plants are far more automated than in 2008  ,,rise of the machines

Horse Plains Drifter

chiefr said:

The "Subprime" market was created after Bill Clintons inauguration when DEMOCRATs had total control of both houses of congress. Some of you will remember the Assault Weapons ban was created by the same DEMOCRAT congress and signed into law by a DEMOCRAT POTUS during the same period.

And supported by the NRA, don't forget to add that part........