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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 399.01

+0.1%

Dec 19 4:00 PM EST

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To: elmatador who wrote (81571)	10/20/2011 5:43:59 PM
From: John Vosilla	2 Recommendations Read Replies (1) of 218631

'Ilaine blames the people themselves for their Naïvity. You blame the banks. Is blame not in between?' The people barely getting by as it was in 2003-06 could not have done it without the banks. They were and still are financially illiterate, were falling way behind as their incomes were lagging while home prices were going up and thought the bankers knew better than they did whether they could really afford that tantalizing 1% start rate with a monthly payment less than rent with no money down and easy qualify as that seemed to be a 'no brainer'. Fast forward to today it is quite the opposite with credit so tight especially for the marginal borrower with a much lower credit score on the back side of the crisis no matter how low home prices or interest rates fall he can't benefit from it now. Think of speed limits on highways since Eisenhower's interstate road system too off in the 1950's. If all the sudden we eliminated regulations and there are no speed limits anymore after being around for as long as anyone can remember don't you think the number of accidents would go way up?

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