‘…money alone does not create political trends in the United States. Within a year of Barack Obama’s inauguration, the most energized and angry people on the American political scene were not the homeowners with subprime mortgages who faced foreclosure as a result of the crisis, but rather those who faulted the government for taking steps to protect those homeowners, and to prevent the crisis from deepening.
It was a strange phenomenon that saw many of those most deeply injured by the crisis become, in effect, objective allies of those who caused it.’
For every mortgage given to a less-qualified applicant, there were 1000’s of bankers, risk analysts, Wall St traders, and their entire respective industries, building a house of cards. They created the fantasy land, they built the speculative track homes, they approved the lending.
To focus on the little guy as the Big Shots stole the farm is the classic Tea Bag mindset. Tea Klanners are upset and angry at individuals, with zero influence, at gaming a system run by greedy, soulless corporations.
To them, the entire global banking and mortgage industries were brought down by a NINJA loan for a condo in [place minority-populated city here].
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