Here's what I'd really like to hear a presidential candidate say about "keeping Americans safe"

[jtuck004]

31. They did miscalculate, but the bank$ter/donors knew exactly what they were doing, and began a theft

than continues today. I doubt we will ever be secure until forensic accountants from the FBI are staffed up and set to work on those thieving bastards.

Good overview on Ritholtz' site, here.

...
•Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.

Check the mortgage origination data: The vast majority of subprime mortgages — the loans at the heart of the global crisis — were underwritten by unregulated private firms. These were lenders who sold the bulk of their mortgages to Wall Street, not to Fannie or Freddie. Indeed, these firms had no deposits, so they were not under the jurisdiction of the Federal Deposit Insurance Corp or the Office of Thrift Supervision. The relative market share of Fannie Mae and Freddie Mac dropped from a high of 57 percent of all new mortgage originations in 2003, down to 37 percent as the bubble was developing in 2005-06.
...

The bank$terdonors committed a crime, which is still ongoing. Their private lending on sub-prime loans that were not under the Fannie and Freddie Labels just blew away what F&F were doing during those years.F&F screwed up, but it was after the market had already been ballooned up by the bank$ters thievery. The idiot on MSNBC tried to blame it on F&F, but the facts make it clear that the banks and their lapdogs in the administrations were and continue to be responsible for bringing tragedy to millions of Americans, and profit to their bank$ter/donors.