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I saw this a few months ago. It would be Really funny if it wasn’t all too real.
LMAO!!
SNL explains the mortgage meltdown.
Why does it always sound like it makes sense when its said in a British accent?
POPPY!
Finally, some straight talk! LOL
This true, sad but true…
Then add to it, the Government interaction:
1995 the Clinton era, Rubin rewrites the rules to foster loans in minority communites;
diversity score determines whether yourfirm can grow or not!;
reserves for FNMA and FHLMC are lowered to 2.5% instead of 105 (like banks);
etc. etc.
FNMA hires a six to one ratio of Old Boy Dems, and starts on a $120 ,000,000 lobby spree!
Very sad…
It’s funny and would be great if he had left out the references to the racial identity of the borrower.
Excellent video!