ED:
I'm confused. Can you point me toward the legislation that forces banks to make sub prime loans ........ "Then two things happened: Social engineering and regulating to force lenders into advancing credit where a prudent person would fear to tread," .... and is it Social Engineering" that invented the "insured credit swap" or the idea that turned crappy loans into bonds with a AAA rating? I don't recall any of those ideas in LBJ's Great Society. ....... and I'm a great fan of LBJ even though he almost got me killed in '65 and '66.
AL
