Blame the politicians

Oct 25, 2011 1 min read

To the editor:

Many millions of people lost money and jobs when the housing bubble burst. The politicians blamed the banks and greedy Wall Street and others, but it was really government that caused it. The proof is all there, in the congressional record. it was the Community Redevelopment Act. The idea was that everyone should own their own house. Banks were forced to loan money to people who did not qualify, or they faced fines. Fanny and Freddie were buying up the mortgages. There is not enough room here for all the facts. But the main culprits were Chris Dodd and Barney Frank. It boggles my mind that people are not holding politicians responsible for this tragedy upon America.

Dorothy Birmingham

St. James City