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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (69843)	9/15/2006 2:24:19 PM
From: John Vosilla	Respond to of 110194

'As for lending standards, you fail to see that loose lending standards are what caused the problem' Where did you ever get that idea? That is the main problem. How intentional in the face of the fears post 9/11 versus the myophic view of those who have their hands in the cookie jar during the last 3-4 years is unknown. Probably a combination of intentionally looking away by OTS, OCC, the fed, state regulators of licensed RE professionals ect.. and an arrogant new pool of leaders and followers in the financial services industry. The Japan argument makes little sense to me. You've been around that one with GST so many times already. No population growth in Japan, land constrained, coupled with being a net debtor (not the greatest creditor in history), propensity to save by the people, plus housing and the stock market at incredible heights in 1989 as a start making a $650k starter ranch home in SoCal or $1M condo in Manhattan or the DOW at 11.5k seem dirt cheap by comparison.