Haha ummm you don't think the ratings companies we

Haha ummm you don't think the ratings companies weren't in on it? They knew that if they didn't rate it high that another ratings company would because money talks. They were paid to rate them high.. They knew they were rating securities that involved no income and no asset verification from the borrowers... Loans that Fannie and Freddie weren't buying... I agree with u that the govt didn't help but I think there were bigger abusers. The govt lies about pretty much everything... That was already a known factor.