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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (350841)9/17/2007 4:08:09 PM
From: bentway  Read Replies (1) | Respond to of 1578884
 
"As for Greenspan not forseeing the subprime problem, how could he?"

I think pretty much anybody could have predicted that the lowest interest rates in 50 years, coupled with gimmicky ARMS, which Greenspan actually RECOMMENDED over fixed rate mortgages, would have led to a speculative bubble in real estate.
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Greenspan says ARMs might be better deal

usatoday.com



To: tejek who wrote (350841)9/17/2007 4:28:07 PM
From: Tenchusatsu  Read Replies (1) | Respond to of 1578884
 
Ted, > I was in real estate and could never have predicted that some lenders would turn into con men and lower mortgage standards to very dangerous levels.

I'm just a homeowner, and already I knew they were out there years ago.

Just one look at my daily junk mail confirms that. "Refinance your home with only a 1% interest rate!!! (APR 7.9%, teaser rate expires after 12 months, examine fine print for details)"

Tenchusatsu


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