The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Jim McMannis who wrote (119124)	4/29/2008 1:01:43 PM
From: Pogeu Mahone	Read Replies (1) of 306849

This will fix everything. Take that guy out an shoot him! roflmao "From mortgage brokers selling loans to home buyers to Wall Street banks who sold the securitized bundles of mortgages to investors, no one in the mortgage industry had a legal duty to work in the best financial interests of the person taking out the loan," he said. "That is in contrast to Wall Street rules on selling appropriate products to investors." "The whole system could sell (a) person the biggest investment he ever had, his house, in an inappropriate structure, and it was fine. It makes no sense. It is on its surface patently nuts," he said.

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