He played businessman and lost a lot of his and others’ money. Private debt. It’s private debt that did most of the crash in 2009. Govt debt is nothing by comparison.

He played businessman and lost a lot of his and others’ money. Private debt. It’s private debt that did most of the crash in 2009. Govt debt is nothing by comparison.

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I’m serious though. Joe Shmoe defaults on home, bank stuck with a property and house and $250,000 to recoup.

Compare:

https://themoscowproject.org/…/trump-organization-3-4…/

That’s 136,000 defaulted mortgages by one person. There’s more in real estate just like him. But we always blame the family with one home, just scraping by.

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Alan Greenspan’s fix was pure Ayn Rand fix: Make it easy but put ALL of the responsibility on the lendee. But without consumer protections in place, disaster was sure to follow and did.

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