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 (164652)	11/15/2008 4:39:47 PM
From: bentway	Read Replies (1) of 306849

"Everybody looked the other way man. They thought it was a win win situation. It was a concerted effort." This thread didn't, and we weren't alone. We knew the houses were overpriced and the exotic mortgages were defaults waiting to happen that were being sold to people that qualified with a pulse. We missed the shadow banking system selling mortgage backed securities and credit default swaps to "insure" them, but who didn't? It was SECRET.

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