SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: marcos who wrote (55971)1/25/2008 5:50:33 PM
From: ogi  Read Replies (3) of 78427
 
That just might be an equitable across the board solution. I do think many mortgage holders were victimized for the benefit of the commissions involved which were in place to feed the paper up the line to the derivatives market.

I work with the public and I am a consumer, faced with a mass of papers for an elaborate structured mortgage I am willing to bet the consumer placed some faith and trust in the financial institution that prepared the document. I think that consumer is entitled to expect that financial institution to not mislead them or sell them something that is ridiculously unsuitable to their
economic reality.

Here in Canada I have had to continuously sign paperwork indicating my desire to purchase speculative stocks. Otherwise the institution could be held liable for my stupid trading. I doubt these mortgage purchasers ever acknowledged on paper that they knew they were taking on Extraordinary risk.

That said, obviously there were irresponsible borrowers and your suggestion addresses both situations.

I believe there was top down pressure to pump these products just to feed the derivative market, which was unregulated and
happy to slop Sh@t around anywhere it could for a short term gain and a fat commission. Their profit potential drove high commissions for those at the lower end of the ladder who were originating these faulty loans.

Shameful throughout.

Cheers,
Ogi
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News