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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (107273)	3/27/2009 4:49:30 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 541853

we just have to get back to a point where the advantages help us and none of the quant guys can step in and f&&& it up. Oh man - you have more faith in bankers than I do. I think it needs to get back to where the lender knows the borrower. Old fashion? Yes, but I just think the incentives are to great to get the fee upfront and look the other way on questionable loans. The best lessons are from Iceland; someone somewhere will try next time and there will always be someone somewhere willing to take advantage of them. Won't be of the same scale next time because we are past the housing bubble - but it will happen again don't you think? steve