Who's fault is subprime.............
- Thread starter flytiger
- Start date
oh they did the math alright.....and it was a win win. Never in their wildest dreams did they ever imagine that with 0 down and a $30k salary they could buy a house they just saw on MTV CRIBS and also be given money on top of that for the extra bling....9 out of 10 would do it again......not only the buyers but the whole lot of them...remember lots of people lost their asses, but many made a fortune on the inflation of the bubble....
What the f**k are you talking about? Where did I once imply I have any sympathy for the borrowers who could never afford the loan? They are getting what is required by the contract they signed, they can't pay the loan, they get foreclosed on. PERIOD!
You are just a moron. You can't even comment on any of the real issues, becuase you have ZERO idea. You don't know how motrgage brokers operate, so STFU on that issue. Those boiler room operators on the 1990s, that's who ran the mortgage brokers. Yes, I used to know some, used to date a girl who sold mortgage, knew at least two guys who ran the firms.
All you know is how to blame the deadbeat/speculator borrower, because you're too nearsighted or stupid to realize that they are just a symptom. Why would a bank make it so easy for such individuals with such mentalities to borrow? If you honestly believe the heads of the banks & financial system did not know what was going to happen, you are as naive as a 5 year old.
Events like this do not just happen, and last I checked, deadbeat borrowers and RE speculators cannot issue themselves loans, nor can they write out worthless derivative paper 10 times over. Maybe if you ever get your head out of the gutter, you may, just may, try to discover what the banks and their owners did with all those profits. But I doubt it. Enjoy the real wake-up call in a year or two.
at least not through the hands of deadbeat borrowers.
There is just no one else to blame on this but the lending side, They were begging for more paper.
This does not imply that i agree with deadbeats borrowing without a thought of paying back. They did what we all know they would have done had we loaned them money.... WALK AWAY...specially the top tickers.
Don't break up your fight on account of me but over here in Europe the banks are in really bad shape. Not your problem I expect you Yanks are saying. But it will be.
What has happened is that the govts are backing bank deposits 100%.
That has given the politicians a strangle hold over all the financial sector. This is as good as nationalizing the banks with taxpayer's money and without their permission. The Communists will be delighted. We have unreformed Commies in our Govt like Jack Straw who will be amazed at what has fallen into their lap, thanks to some unprincipled mortgage lenders in the USA.
The Russians are probably wondering if they should be claiming victory in the Cold War after all. The USA has thrown victory away for a few lousy dollars and loused up the world economy into the bargain.
The results of your GREED are coming home to roost - ya crooks
What has happened is that the govts are backing bank deposits 100%.
That has given the politicians a strangle hold over all the financial sector. This is as good as nationalizing the banks with taxpayer's money and without their permission. The Communists will be delighted. We have unreformed Commies in our Govt like Jack Straw who will be amazed at what has fallen into their lap, thanks to some unprincipled mortgage lenders in the USA.
The Russians are probably wondering if they should be claiming victory in the Cold War after all. The USA has thrown victory away for a few lousy dollars and loused up the world economy into the bargain.
The results of your GREED are coming home to roost - ya crooks
