Posted by Gun guru on April 11, 2008 at 15:16:20 from (66.188.56.98):
In Reply to: OT - Economics posted by Spook on April 11, 2008 at 13:12:21:
I know that if Any consumer of a home mortgage is faced with uncertain house payments (like adjustable rate mortgage) a persons finances can and might get screwed. Also the Interest only loans that the banks pitched for a few years was and is super ignorant on the part of consumers to purchase. How stupid is that...buy a home having no equity in it, that just makes the consumer want to walk away when they cant afford the home. Then the bank if stuck with a home that no one is paying for. The banks are getting what they deserve and if Uncle sam bails out the mortgage companies for making bad loans then that is dumbist freaking thing they could do in my opinion. That just allows other companies to make bad choices and they get bailed out too.
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