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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (10353)	10/22/2008 1:45:45 PM
From: Oblomov	Read Replies (2) \| Respond to of 33421

No, it was corporatism. And according to our rulers, the solution is more corporatism. What is "predatory lending", BTW? Making a profit from lending?

To: Condor who wrote (10353)	10/22/2008 1:48:36 PM
From: Hawkmoon	1 Recommendation Respond to of 33421

Anyone watching the Congressional hearings with the Rating Agencies? Brutal!! But it seems to emphasize that for the RA's to have something positive to report, Federal action to restore confidence in the financial surety industry is the next step. MBIA, Ambac, and others are meeting this week to work out a potential solution. This is critical because, as I understand it, California is on the verge of a financial meltdown if something isn't done by the end of the month. And the Federal government is prohibited by law from guaranteeing municipal bonds, so they require an intermediary entity like the monolines. Other opinions? Hawk

To: Condor who wrote (10353)	10/22/2008 1:59:02 PM
From: Jorj X Mckie	1 Recommendation Read Replies (2) \| Respond to of 33421

Regulatory negligence and predatory lending within that system assured a crisis I'm sure that greedy consumers who took on loans that they had no reason to believe they could pay over the long term had anything to do with it. Lots of people bought million dollar homes on pretty meager (comparatively) income. But it's the big bad lending corporation's fault? ok, ok, I do agree that it is partially the lending corporation/organization's fault...And they should suffer too. Let em go under! But they don't get all the blame.