This is what happens when loans for homes are made to those who don't qualify, or will knowingly go into default. It all looked great when things were on the upside. Only thing is, nobody was talking about the downside, as if there could never be one.
Same attitude prevailed before the crash of 1929, that sent the world into the dpression that led up to WWII.
This is one of the reasons the Founding Fathers of the United States of America tried to keep a central banking institution like the Federal Reserve from ever coming into being. But they also had a thing called 'debtors prison' in those days. Today we call it bankruptcy. I think the latter makes people think a bit more before they act.
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A legislative act contrary to the Constitution is not law.
-John Marshall Chief Justice of the Supreme Court
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