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banks - housing bubble
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<blockquote data-quote="Babagounj" data-source="post: 938697" data-attributes="member: 12952"><p>Let's see if i understand this whole mortgage thing.</p><p></p><p>As I recall no bankers putting a gun to my head and telling me that I had to apply for a home loan that I knew I could not qualify for, nor ever have a snowball's chance in hell of repaying. Nor was any paperwork submitted that falsely overstated my income. Nor was I given any monies to vacant my home so that the banks could reclaim it when I defaulted. </p><p>But I do recall that the gov't kept changing the rules to encourage the banks to loan out huge amount of money to increase the ratio of home owners and when their house of cards collapsed started to blame the banks as being predators. So now bhos' gang wants the banks to shovel out more money, but only to a very limited select group , to prove that the banks did in fact put guns to their heads.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 938697, member: 12952"] Let's see if i understand this whole mortgage thing. As I recall no bankers putting a gun to my head and telling me that I had to apply for a home loan that I knew I could not qualify for, nor ever have a snowball's chance in hell of repaying. Nor was any paperwork submitted that falsely overstated my income. Nor was I given any monies to vacant my home so that the banks could reclaim it when I defaulted. But I do recall that the gov't kept changing the rules to encourage the banks to loan out huge amount of money to increase the ratio of home owners and when their house of cards collapsed started to blame the banks as being predators. So now bhos' gang wants the banks to shovel out more money, but only to a very limited select group , to prove that the banks did in fact put guns to their heads. [/QUOTE]
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