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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (37532)1/10/2013 8:49:31 PM
From: research1234  Read Replies (2) | Respond to of 85487
 
Little Joe, if you have not read "Econned" by Yves Smith, or followed her blog Naked Capitalism, I highly recommend both. She made a very well reasoned argument that CRA was not the cause, and was being used as a source of misdirection to try to excuse the outrageous behaviour of bankers and mortgage brokers who arguably deserve the bulk of the blame for the 2006-2008 financial calamity.



To: Little Joe who wrote (37532)1/10/2013 9:12:34 PM
From: bentway  Read Replies (1) | Respond to of 85487
 
"I stood with those who like Karl Deninger and Mish who predicted and explained the housing bubble as it happened; not spouting political idealogy after the fact."

So was I pal. I sold my overvalued S. Cal. bubble house for 5x it's mortgage value and bought an equivalent in non-bubble land for cash, with a lot of money left over.


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