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Aka the government helped people buy houses who had no business buying a house. Certainly I can agree some of this blame falls with the private sector, but government sent them yet another clear message that no matter what happens, government will save you, by bailing out all of these banks that should have failed.That is not a bad business model persay, it is the ease in which they could package these things together and get an implicit government assurance against their failure that was the problem.
Aka the government helped people buy houses who had no business buying a house. Certainly I can agree some of this blame falls with the private sector, but government sent them yet another clear message that no matter what happens, government will save you, by bailing out all of these banks that should have failed.
That is not a bad business model persay, it is the ease in which they could package these things together and get an implicit government assurance against their failure that was the problem.
