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Good; but the book fails to address the political ...
on September 23, 2014
Good; but the book fails to address the political decisions, which led to the crisis, i.e. fulfilling the purported aspirations of every American family to own their own home irrespective of whether or not they had the financial ability or acumen to handle a mortgage. This led mortgages issued to those who could not handle that kind of financial responsibility. But Washington protected the banking industry, both on main street and Wall Street, via Fannie Mae and Freddie Mac, where defective mortgages where bundled and ultimately sold to unsuspecting investors. If my friends could see the handwriting on the wall before the advent of the "Great Recession" then so could the Federal Reserve. Cooper fails to address the issue.