The core reason why it started was because we had major delinquencies in residential, in the residential housing market, single family homes. And we had a bunch of these delinquencies because Some stupid politician in the 90s, actually several of them thought it was a good idea to have no credit quality when it came to actually being able to buy homes. And the idea was, well, if you just changed all the credit underwriting and made it easy people to have it, then that would solve all of society's ills. (04:38–04:49)
CLAIM
Asserts that politicians in the 1990s removed credit quality requirements for home buying.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
