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

GLD 374.94

+0.2%

Nov 19 4:00 PM EST

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To: ggersh who wrote (114750)	12/14/2015 5:57:15 PM
From: louel	Read Replies (1) of 217882

At the time of the collapse. Banks had $13 lent out for each $1they had on deposit. So yes they were far over leveraged. The loans made were backed by homes where value was projected rather than actual. They were playing a dangerous game. The banking industry knew many of the loans made against homes were to flippers who were driving prices up in a euphoric market which was impossible to sustain. Canadian banks which are heavily regulated by government. Were forced to require substancial down payments. To all but first time home purchasers. By doing so they reduced their risk and not 1 bank found it!s self in financial difficulty. So the writing was on the wall. I would suggest the fault lies with banks acting like loan sharks. There were even reports of mortgage consultants being paid volume bonuses for the amount of mortgage paper they wrote. In my opinion it was criminal the disregard by the banking industry. Concerning the safety of the money depositors had placed in their trust. They should have been sent to prison like any other shyster.

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