So were mortgages by themselves. Without the widespread availability of mortgages “the popping of the housing bubble wouldn’t have turned into the liquidity crunch” too.
Well, sure. And also without houses themselves…
My point is that the statement wasn’t false on its face. Repackaging and reselling was A proximate cause of the liquidity crunch, its not the only cause but its a part of what happened.
Well, sure. And also without houses themselves…
My point is that the statement wasn’t false on its face. Repackaging and reselling was A proximate cause of the liquidity crunch, its not the only cause but its a part of what happened.