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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: bentway who wrote (262818)7/21/2010 3:28:17 PM
From: tejekRespond to of 306849
 
Ted, worse yet were Fannie and Freddie BUYING all those no doc, stated income mortgages from the originators! WTF were THEY thinking?

They didn't know what they were buying. The bad stuff was mixed in with a lot of good stuff. It was a failure of due diligence and their lack of professionalism.

Is there any clearer example of privatizing profits and socializing risk?

Sorry but I think you are doing too much thinking. I see it as pure incompetence.