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

To: Lazarus who wrote (283716)	10/15/2010 11:28:53 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

Not quite sure how to address that well thought out response. Guess I see two points. 1. Congress wasn't completely owned by the banks during the S&L crisis. 2. as your quote notes, fraud was proven, and it was rampant in that crisis. Not so sure it will be proven here. It is looking more like an incredible level of incompetence, although there does appear to be fraud at the firms contracted by the banks to handle the paperwork. I am seeing individuals who are in trouble due to their own statements. There are also some firms, such as the one in Florida that "processed" 700,000 foreclosures last year, that will be made examples of. At this point it appears the banks will escape with a slap on the wrist to tighten up their procedures, which they are already doing right now. Am really not seeing the banks taking a big financial hit for this mess, which kind of surprises me.