If You Think the Meltdown Was the Fault of Homeowners, Think Again...

At the end of 2007, there were roughly $1.4 trillion in sub-prime mortgages in this country. If "irresponsible sub-prime borrowers," caused the meltdown, then $1.4 trillion would have solved the problem in its entirety, right? Because that's all the sub-prime loans there were. But, between the Federal Reserve, the FDIC and the Treasury over $13 trillion has been pumped into financial institutions to fix the "housing correction," which is what Hank Paulson was still calling our economic collapse as of November of 2008. At the end of 2008, there were $11.9 trillion worth of mortgages in this country. So, with $13 trillion, the government could have paid off every single one... and still had a little over a trillion dollars left over.