Mayor Bloomberg: ‘It Was Not The Banks That Created The Mortgage Crisis’

By Pat Garofalo on Nov 1, 2011 at 2:55 pm

A favorite conservative pastime since the financial crisis of 2008 struck is to try and deflect blame away from Wall Street and its excesses and onto Fannie Mae, Freddie Mac, and government housing policy. No matter how many times the theory that the government mortgage giants caused the crisis gets debunked, it keeps on coming back to life.

The latest political figure to join this parade was New York City Mayor Michael Bloomberg (I), who responded to a question about the ongoing Occupy Wall Street protests by saying that the protesters’ grievances are “unfounded,” since “it was not the banks that created the mortgage crisis