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

To: Jorj X Mckie who wrote (10357)	10/22/2008 2:02:30 PM
From: Condor	2 Recommendations Read Replies (1) \| Respond to of 33421

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. but the problem is the innocent get clobbered in their 401 K's and god only knows where else now. If it was simply a matter of kicking the sh*t out of the faceless lenders then ..yes..who'd care.

To: Jorj X Mckie who wrote (10357)	10/22/2008 9:43:09 PM
From: Pogeu Mahone	2 Recommendations Read Replies (1) \| Respond to of 33421

Of course it is the lending corporation/organization's fault. It was their money so they should have done DD on the loan applications if they wanted the money back. These organizations threw out a 100 years of prudent banking practices in making these bad decisions leading to this banking crisis. Did these bank executives have a fiduciary duty to their institutions? This certainly had nothing to do with it: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. Always has been the banks job to say: your not qualified not vice versa. poor welfare queens exploiting poor rich bankers-s-