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Politics : American Presidential Politics and foreign affairs

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To: TimF who wrote (44345)	7/28/2010 2:50:39 AM
From: RMF	Read Replies (2) of 71588

NO, it's NOT a matter of some little banker or mortgage company deciding THEY will accept risky loans. They can do that ALL they want. The PROBLEM comes in when they are allowed to sell those crap loans to others and those others are able to sell those loans based on insurance that DOES NOT exist!!!! We have people selling insurance on financial instruments with NO POSSIBILITY of paying off if those instruments go bad. AIG should be bankrupt and just about every large financial institution in the U.S. should be bankrupt based on their LOUSY risk taking. Canadian banks aren't having these problems because in Canada the banks have to KEEP and service the loans they make.

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