He bases his conclusions on work done at CATO by others and focuses on quantity of loans to less then the richest
But when one looks at WHERE THE DEFAULTS happened --- he is an emperor with no clothes
For those who want to be with the 9 of 10 commissioners (4 Reps and 6Dems) on the report on what caused the mess you must read the link
And know that at first the split was 6 for the majority report that put most of the blame on greed and wall street and some on F and F ---- and 4 for the blame belongs to F and F
As the research continued about what loans to whom and where etc. were the big problem it became clear the crap sold by the "street" with no proof of income and interest only and 80 10 10 10 (no down payment three loan monties) were a far bigger piece of the pie
Three Republicans moved to the majority report and the final report is 9:1 000 guess who is the one who still says its all F and F and the GOV policies
A great summary I just found - thank you bing so you are saying
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