It really takes a right-winger to call a failure a correction.
Geeech---I thought the failure was the socialism of "affordable housing for everybody"-(litterially forcing banks to do the loans)-loaning out 3 dollars to only 1 dollar that existed.
The fact is---this is just one example of all social programs that fail all over the world.
Note, the free market side of home loans does not need a tax payer bailout.
Americas failure are simply---people like you.
It is good--I think. Ya see--when the shit hits the fan--it is people like you that will suffer the most. It is individuals like me that will take care of oruselfs--like we always have done.
Here is where the faiure happened you left brained moron.
The fed tried to stomp out capatolism in the housing market, by offering loans that the free market knew were too risky and could not do safely. It (Fan and Fred) failed, and could not beat the free market over time. It is nothing new---ohh--may be to you it is.
Right now---if you don't still live with mommy and daddy---you better be good at what you do for a living, and not depend on a employeer. When liberal mommy and daddy start looking at you--then the oven--then you--then the oven--then you again,---your time has come. Die commie die--but go pick up some A-1 first.
Socialism of "affordable housing" is the cause--and the only sector that failed.
If Fanny or freddy did not try to unrealistically under bid the free market in a large socialistic scale--this failure would be just a smaller business that went out of business doing bad loans. But it is socialism at work---socialism you love---socialism that will take you down--socialism that may now take many of us down---but not me. I have always been a individual. Die commie die!---Die with your own leglislative pen!