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To: mishedlo who wrote (19097)	12/20/2004 3:15:40 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 116555

He had me up until he mentioned that somebody did in the Savings and Loans. No way. Those were the dumbest people ever put on this green Earth and they were doomed once Reg Q disappeared. Dumb industry with a dumb charter. Borrow short to lend long. Hey, that's what everyone is doing these days. <G>

To: mishedlo who wrote (19097)	12/20/2004 5:23:25 PM
From: NOW	Respond to of 116555

exactly

To: mishedlo who wrote (19097)	12/21/2004 3:02:58 AM
From: John Vosilla	Read Replies (4) \| Respond to of 116555

<Just as the Fed wiped out the bankers' competition from the Savings and Loan industry with bad policy in the 80s and early 90s, the plan now is to wipe out the competition from the GSEs, mortgage insurers, and the host of high-risk mortgage lenders who've risen to prominence and fueled the incredible credit expansion of the past 10 years. Greenspan is a pathological liar. Nobody does a better job of consfusing and misinforming Congress and the American people. That's why he got the job. The only time you should trust him is when he is talking to bankers.> Are you looking for the likes of current highly capitalized players like GE,GM,Citigroup and JP Morgan along with the rest of the investment banker crowd to control what is left of the high risk mortgage biz and title insurance industry after the next down cycle? Greenspan sure wasn't looking out for the US consumer when he recommended ARM's at the interest rate bottom this past spring where you could of got 15 yr fixed as low as 4.5%. Even though it helps holders of the paper to manage interest rate risk better no doubt down the road a much higher level of foreclosures will result from ARM's Recent classic quote by Greenspan as only he can spin it: "Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities," Greenspan told America's Community Bankers.