The Obama - Clinton Disaster Message Board

STOCKTALK

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.

Politics : The Obama - Clinton Disaster

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: jlallen who wrote (3562)	12/22/2008 10:05:23 AM
From: DuckTapeSunroof	Read Replies (3) of 103300

LOL! No one actually went 'on the record' and advocated "irresponsible lending practices". :-) But --- the ABILITY of lenders to SECURITIZE the mortgages they made... sell them off to investors withing days or minutes, so that the original lenders are no longer responsible for the mortgages, are not their owners any longer, certainly ENCOURAGED wild risk taking! (Because, if it's not your ass on the line for a default... then why not give out 'liars' loans' to anyone and everyone? You'll book the revenue and then kick the toxic mess down the road to someone else. :-) Interestingly --- the greatest BULK of the toxic sub-prime mort. loans (of the past 3 years, really the bad period...) were made, not by the federally regulated banks, but rather by NON-bank, NON-regulated specialty mortgage lenders.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next