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.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Tenchusatsu who wrote (472437)4/16/2009 12:56:44 PM
From: combjelly  Read Replies (1) of 1574855
 
"Politicians actively encouraged financial institutions to lend to people of lower incomes"

So?

"This was to help boost minority home ownership rates, boost property values and therefore property taxes, and generally cash in on the whole real estate boom."

Ah, so it was the fault of minorities. Sort of knew it would come to that. Conveniently ignoring the fact that

a) most of the subprime mortgages were written by companies who didn't any obligation to write said mortgages.

b) the industry had admitted the reason why they wrote a lot of those mortgages was the demand for ABS's.

c) and admitted that in most of those cases they weren't following their own guidelines.

So, far from being micromanaged, they were taking advantage of a loose regulatory environment.

Well, what about the CDS's? Which were totally unregulated? You have heard about AIG I suppose?
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