Episode 492 • • 1:32:34 - 1:37:47
492: Pet Food Stamps
Financial Crisis Inquiry Commission, Subprime Mortgage Data
Testimony from the Financial Crisis Inquiry Commission (FCIC) reveals that there were 28 million low-quality mortgages in the system by 2008. The hosts discuss how the media ignored this data, focusing instead on derivatives. They attribute the housing bubble to government meddling via the Community Reinvestment Act and the repeal of Glass-Steagall.