It's not so simple. There were trillions of dollars out there looking for a way to invest. These loans were given to anyone with a pulse. So people at brokerage firms could make a ton of dough. Also, the Wall Street people used bad data to evaluate the risk of these loans. To blame this solely on the the borrower is to not understand the dynamics of what happened.
And you know what will happen after the legislation passes and everything goes down the s**thole?The Congress will blame capitalism and blah blah blah and more regulations. f**k I HATE THIS s**t.
I'm not one to shirk from dire predictions, but his jump from the sum needed to regain confidence to the total sum of all credit in the US doesn't follow any logical argument. I'd need someone to walk me through this more carefully before I digg that one up. I like his accent though.
Point is, the bailouts did NOT go to those who were forecosed on, it went to the Banks --- who got the money AND the property.Taxation without representation (just a crammed thru Bill with no debate).
opmikeSep 29, 2008
....who also drive Benzes...
nysusSep 29, 2008
It's not so simple. There were trillions of dollars out there looking for a way to invest. These loans were given to anyone with a pulse. So people at brokerage firms could make a ton of dough. Also, the Wall Street people used bad data to evaluate the risk of these loans. To blame this solely on the the borrower is to not understand the dynamics of what happened.
Closed AccountSep 29, 2008
And you know what will happen after the legislation passes and everything goes down the s**thole?The Congress will blame capitalism and blah blah blah and more regulations. f**k I HATE THIS s**t.
charlietunaSep 29, 2008
I'm not one to shirk from dire predictions, but his jump from the sum needed to regain confidence to the total sum of all credit in the US doesn't follow any logical argument. I'd need someone to walk me through this more carefully before I digg that one up. I like his accent though.
boulder555Oct 19, 2008
Point is, the bailouts did NOT go to those who were forecosed on, it went to the Banks --- who got the money AND the property.Taxation without representation (just a crammed thru Bill with no debate).