Those aren't numbers, just your opinion. Pleas provide facts & figures.
I already did in another topic. Do you deny that it was the government requiring fannie and freddie to push into more subprime lending? Do you deny the existence of FDIC? Do you also deny that barney frank, chris dodd and other prominent liberals were the chief instigators behind "the government" mandating that the activities engaged in by the banks did in fact actually occur? Do you deny that Bush (the fake fiscal conservative republican president) played a part in helping all of this to happen as well?
Please post your hard facts here. Some numbers and stats to support your statements, please.
I posted this in another thread:
1. The risky lending behavior leading up to the housing crisis would never have occurred if the government had not interfered with the natural flow of the market by requiring fannie and freddie to take on greater subprime lending, while simultaneously knowing that they are implicitly backed with taxpayer dollars. We all know that the ring leaders in this were Barney Frank and Chris Dodd along with other prodigies of the leftwing Keynesian liberal mindset. Bush also decided to not only allow this to happen without attempting to stop it but he actually encouraged it with bills of his own -- one of the decisive moves contributing to making his presidency so bad - because he went directly contrary to fiscal responsibility and free market principles.
2. What happened is tantamount to the government telling a private business to take on riskier practices while simultaneously guaranteeing the added insurance risk for those practices. It was a win win situation for both commercial banks, through FDIC (through which there is so much bank failure funding) and fannie and freddie. The banks were given a nothing-to-lose scenario. Like any other business they engaged in behavior that was profitable and in their best interest by selling the bad loans to fannie and Freddie en masse, who were taking them on because... WHY? THE GOVERNMENT TOLD THEM TO. The government was even buying stock in fannie and Freddie to encourage more public trust in them as “infallible” institutions.
The liberally slanted Washington Post is compelled to confirm the facts as outlined in almost all sources pertaining to the events leading up to the housing crisis"“Eager to put more low-income and minority families into their own homes,the agency [DHUD] required that two government-chartered mortgage finance firms purchase far more "affordable" loans made to these borrowers. HUD stuck with an outdated policy that allowed Freddie Mac and Fannie Mae to count billions of dollars they invested in subprime loans as a public good that would foster affordable housing."
“Markets assume that the taxpayer will if necessary take on the burden of all their mortgages because they underpin the whole U.S. mortgage market. If they were to collapse, mortgages would be harder to obtain and much more expensive. U.S. Treasury Secretary Henry Paulson has said the government's primary focus is in supporting Fannie Mae and Freddie Mac in their current form.”-- Statement by Secretary Henry M. Paulson, Jr. on Fannie Mae and Freddie Mac, 2008-07-11
And from the NYTimes PRIOR to the housing meltdown:"In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.”[/b]---http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260
So let's be clear. People with your mindset are in favor of big-government interference behavior that creates things like the housing crisis. People with my mindset believe that it should just be left alone.