Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe Community Center
Current Events
Obama fails yet again...
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="JimJimmyJames" data-source="post: 612082" data-attributes="member: 11425"><p>I think his point is primarily this line:</p><p> </p><p></p><p> </p><p>In any event, though providing new house loans to those who were not credit worthy was indeed a problem, I think that the refinancing game played by tons of us was a bigger problem. Did we use that money to save money and buy down our debt, or increase spending and add ever more debt? We all know the answer.</p><p> </p><p>When the housing market finally reached saturation and the prices started to drop, the house of cards was going to fall no matter if we were giving new house loans to risky people or not.</p><p> </p><p>And when the investment banks started repackaging and selling all this risky debt, why are we surprised this all went sour. Are we supposed to blame poor people for Wall Street's greed and short sightedness? </p><p> </p><p>Best to blame the Fed's manipulations of the economy in order to create wealth where there actually is none.</p></blockquote><p></p>
[QUOTE="JimJimmyJames, post: 612082, member: 11425"] I think his point is primarily this line: In any event, though providing new house loans to those who were not credit worthy was indeed a problem, I think that the refinancing game played by tons of us was a bigger problem. Did we use that money to save money and buy down our debt, or increase spending and add ever more debt? We all know the answer. When the housing market finally reached saturation and the prices started to drop, the house of cards was going to fall no matter if we were giving new house loans to risky people or not. And when the investment banks started repackaging and selling all this risky debt, why are we surprised this all went sour. Are we supposed to blame poor people for Wall Street's greed and short sightedness? Best to blame the Fed's manipulations of the economy in order to create wealth where there actually is none. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe Community Center
Current Events
Obama fails yet again...
Top