What is Digg?7 Comments
- jefuchs, on 10/10/2007, -0/+3Anyone whose house is foreclosed on will still need a place to live, and will have to pay for it. Why don't the lenders rent the house to the defaulting borrowers at a rate they can afford, and work toward getting them back on track? It would benefit everyone, as the house will probably sell for much less now that the bubble is bursting.
The system is all wrong. You take away a person's house, but you know they can sill afford to pay something. You let the house sit there, collecting no revenue, and becoming a target for vandals. Then you sell it at a loss. Both sides lose.
I've never been in this situation. Maybe banks have a better plan than I know. - tunapez, on 10/10/2007, -0/+1Yup, that bubble was ripe long before it popped. Instead of asking the obvious "Who's gonna get bailed out?", I gotta ask, who's gonna get prosecuted for falsifying info on their mortgage apps? The lenders, the borrowers or none of the above?
- crazybugger, on 10/10/2007, -0/+1I am holding my breath for the past 6 years
- Gabberwok, on 10/10/2007, -0/+0The problem is that the banks sold pieces of the deals to other financial institutions, who sold it to others, etc. etc., all the time using borrowed money for the purchases. So it's a whole stack of cards that no individual institution has any real control over, so banks have their hands tied when it comes to refinancing the debts. It's a mess.
- irvman21, on 10/10/2007, -1/+1This is why you shouldn't lend money to poor people.
- Gabberwok, on 10/10/2007, -1/+0Has anyone else noticed that this "blog" is merely an advertisement for gold bullion? The economics statistics might be true, but I would take everything they say with a grain of salt. I mean, it even says in the second to last sentence... "With the coming announcements this week, it becomes apparent why Gold has had such a runup in the last month. " It's even "Gold" with a capital "G". I know that paranoia is a little too rampant on Digg, but I didn't realize naivete was as well...
- cococooky, on 10/10/2007, -1/+0Your face must be really purple by now, but on a positive note, you just might make it into the Guinness World Records.
The Digg Toolbar for Firefox lets you Digg, submit content, and keep track of Digg even when you're not on the Digg site. Download the official 
© Digg Inc. 2009
— Content created and posted by Digg users is