Posted by tlak on November 04, 2008 at 16:55:54 from (64.130.174.70):
In Reply to: Re: Economy Broke??? posted by IndianaRed on November 04, 2008 at 16:30:38:
Let's see, bundling was making packages of housing mortgages to offer investors. They put risky with stable mortgages to entice the investors. A risky one is if the person can't afford his payments for some reason. A reason might be because the fuel double and tripled in price. No the gov.. shouldn't have done the bailout.
Don't think people's greed had anything to do with it. Of course they're going to take the path of least resistance, but some to ever get into a house used what was available. If you have to qualify for what home you can afford, then it doesn't matter about your greed or what decision you make, you're only going to get a house you can afford. So when the gov.. took all the checks and balances off, then you qualify for everything. You don't speak w/ knowledge, you just try to out talk and over talk with your dribble.
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