I agree, but the gimmick loans were really geared towards middle upper middle class folk that wanted Mcmansions. That's where the big bucks were,...
I was in the mortgage biz. Those poor people CRA loans were full doc, though forgiving with credit. The loan amounts were small because poor...
Do that many people still think that this is really a mortgage crisis? The mortgage issue is but a small component. A mere symptom.
Great quote and nice name "Scata" - Misthos (Sklavos)
Altruism rarely makes its way into policy. The little guy is only helped inasmuch as his failure ultimately affects the the broader market, and...
No credit crisis? No Insolvency Crisis? Hmmmm. How do you explain this. And by the way, all that lent dough has not caused inflation. Why?...
Never underestimate the "mattress" option. As this financial fiasco progresses and people see pension funds suffer as well as the current crop...
I was in the mortgage biz. Believe me, affirmative action lending had little to do with it. The riskiest loans were used by ALL races and...
There are three reasons we pay debts: 1) There is a legal obligation to pay. But as others here have written, there aren't exactly sharp teeth...
This is getting tiring. Once again, you misinterpret or maybe I wasn't clear. I am not assuming I owned the house before the fire - or that...
Reread my scenario before calling the example stupid. Do you understand what "free and clear" means? It means you HAVE NO MORTGAGE! So...
Do you work for Citi or AIG?
A burnt down house, owned free and clear is better than these mortgages. Why? If you own a house that was burned down - you remove the...
Apparently you have not read my subsequent posts. I admitted to painting banking with a broad brush - but I also understand our times and that...
Yes, Ayn Rand writes about a banker as well, but the focus of Ayn Rand's hero worship are the producers of wealth. When she wrote Atlas Shrugged...
My grandfather was a farmer on a mediterranean island in the early part of the 1900s. No Electricity or running water. But guess what? He would...
I've said this before. Enough of the Ayn Rand comparisons to Wall Street. She championed THE CREATORS OF WEALTH - THE PRODUCERS OF THINGS....
I guess because deregulation was going so well? And don't think it matters which party has the White House when it comes to finance. Both...
You misunderstand the difference between resource wars and world wars. To determine who calls the shots, you first have a world war. Markets...
True... the market stampedes of the past will be gone for awhile. I think we are witnessing the last of the stampedes - both in and out of...
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