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.
Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.33+0.7%Nov 18 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: elmatador who wrote (21602)8/25/2007 1:54:12 PM
From: Ilaine  Read Replies (2) of 217862
 
Subprime crisis actually might be limited to a certain sector of the population, namely, not very rational people, undereducated, maybe not native English speakers, people who engage in magical thinking, delusional thinking, or like to gamble.

In the highly regulated US, it's hard to fathom why mortgage brokers are completely unregulated.

Thus, they are free to engage in fraud with no oversight.

Note that it's both borrowers and lenders who were defrauded, as the mortgage brokers are middlemen working for themselves, and there's little or no recourse against them, they don't have very deep pockets.

Lenders didn't look very hard at the borrowers because they weren't going to keep the mortgages, they packaged them and sold them --- maybe to the Chinese? ;^)
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News