Greyhound
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Sun Mar-09-08 04:01 PM
Response to Reply #76 |
| 79. Tangible assets IMO. Stuff that you can hold that has intrinsic value. |
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Perhaps equipment, many think that precious metals are good (but the industry is so corrupt the return is sub-standard and investing in the funds is just as risky, look at 1968), there's always the guns and grain strategy, moving assets to more stable environments until the market corrects and then buying land (it is important, but difficult, to secure the water and mineral rights to that land), opening/investing is a small business, things like that. I'm sure you can think of many more.
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| -Can we stop blaming the sub-prime meltdown on the borrowers? |
salin |
Mar-09-08 11:33 AM |
#0 |
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I disagree. People have to take responsibility for their financial decisions |
Bandit |
Mar-09-08 11:37 AM |
#1 |
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Did you read the post? |
salin |
Mar-09-08 11:43 AM |
#2 |
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The whole housing fiasco was a scam designed by corporate financial insiders. |
AdHocSolver |
Mar-09-08 07:48 PM |
#96 |
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I felt the way that you felt until I started hearing some very troubling stories |
truedelphi |
Mar-09-08 02:23 PM |
#63 |
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He isn't. The Congress that controls the purse strings gave it to him. n/t |
AdHocSolver |
Mar-09-08 05:43 PM |
#87 |
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ah yes, Milton Friedman's social darwinism trumps empathy. |
Morereason |
Mar-09-08 10:52 PM |
#103 |
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It's Everyone Involved |
Crisco |
Mar-09-08 11:43 AM |
#3 |
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That middle point is the something "new" in the equation. |
salin |
Mar-09-08 11:49 AM |
#6 |
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your third point is FAR from Harsh - I'd say it's right on the money (no pun intended} |
Donnachaidh |
Mar-09-08 11:58 AM |
#13 |
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has this always been the case? Or has it gotten worse in recent times? |
salin |
Mar-09-08 12:04 PM |
#17 |
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"Flip This House" |
Crisco |
Mar-09-08 11:59 AM |
#14 |
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People try to make some insane money on that show.. |
Xenotime |
Mar-10-08 12:01 PM |
#132 |
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Housing is not immune to economics. If people won't pay X price, X price drops. |
BadgerLaw2010 |
Mar-09-08 12:26 PM |
#28 |
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But if people can pay 1.5X, rather than X because banks are willing to sell them "exotic" mortgages |
AP |
Mar-10-08 08:28 AM |
#122 |
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oh please |
selador |
Mar-09-08 04:49 PM |
#80 |
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While I don't question your point (it makes sense), |
salin |
Mar-09-08 04:57 PM |
#82 |
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thank you |
selador |
Mar-09-08 05:08 PM |
#83 |
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I agree... with one caveat |
salin |
Mar-09-08 05:24 PM |
#85 |
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yes |
selador |
Mar-09-08 05:50 PM |
#90 |
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Thanks for the link... |
salin |
Mar-09-08 05:57 PM |
#91 |
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thanks n/t |
selador |
Mar-09-08 06:09 PM |
#94 |
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I do't want to go back to the "good ol days" of the dark ages. Social darwinism was trumped for a |
Morereason |
Mar-09-08 11:01 PM |
#104 |
| -
Finally, Someone Makes Sense, Preditory Lenders and Borrowers Made This Mess |
we can do it |
Mar-09-08 01:06 PM |
#39 |
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Don't get me wrong (I don't favor any sort of "buyout") |
salin |
Mar-09-08 01:16 PM |
#40 |
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I Think We Bascially Agree, Then. |
we can do it |
Mar-09-08 05:47 PM |
#89 |
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I agree |
JVS |
Mar-10-08 07:25 AM |
#120 |
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This is such a non-issue |
Hydra |
Mar-09-08 11:44 AM |
#4 |
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You said it much more concisely than I |
salin |
Mar-09-08 11:51 AM |
#7 |
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Pfff |
Hydra |
Mar-09-08 12:03 PM |
#16 |
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Enron... Lay very carefully laid a plan |
salin |
Mar-09-08 12:08 PM |
#19 |
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You know more than I do about that |
Hydra |
Mar-09-08 12:13 PM |
#21 |
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Isn't that the basis - on a foreign policy front - for PNAC |
salin |
Mar-09-08 12:15 PM |
#23 |
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Pfff again |
Hydra |
Mar-09-08 12:29 PM |
#31 |
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Bingo! |
Karenina |
Mar-09-08 01:36 PM |
#44 |
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Hey - there is a LBN thread on one of the big banks calling for a systematic margin call |
salin |
Mar-09-08 01:41 PM |
#46 |
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The banks are just trying to shake each other out. |
Karenina |
Mar-09-08 02:02 PM |
#52 |
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I wonder how many corporate mergers - financed by billions in loans |
salin |
Mar-09-08 02:06 PM |
#53 |
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That's what I believe went down with Carlyle C.C. |
Karenina |
Mar-09-08 02:15 PM |
#59 |
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Indeed. Consider recent year mergers... |
salin |
Mar-09-08 02:20 PM |
#60 |
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And when they close up shop and re-setup down the street next week? |
Hydra |
Mar-09-08 02:11 PM |
#57 |
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Sub-prime borrowers are just pawns in this game. |
Karenina |
Mar-09-08 02:21 PM |
#62 |
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The purpose of invading Iraq was to STOP Iraqi oil production so as to limit world oil supply and... |
AdHocSolver |
Mar-09-08 06:23 PM |
#95 |
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I disagree |
Windex |
Mar-10-08 05:20 AM |
#116 |
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At some point we must realize that our government is of, by, and for the ruling class only. |
greyhound1966 |
Mar-09-08 02:40 PM |
#69 |
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Well said |
Hydra |
Mar-09-08 03:04 PM |
#74 |
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I would add the elite who run the ponzi schemes and milk them for Millions |
Morereason |
Mar-09-08 11:05 PM |
#105 |
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I agree |
gratuitous |
Mar-09-08 11:48 AM |
#5 |
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I don't know how insulated they (banks) really are... |
salin |
Mar-09-08 11:58 AM |
#11 |
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Compassion? Surely you jest. |
melody |
Mar-09-08 11:53 AM |
#8 |
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Peace to a like-minder |
salin |
Mar-09-08 12:00 PM |
#15 |
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Nothing is safe, but for most people, their FDIC insured banks probably are |
melody |
Mar-09-08 12:08 PM |
#18 |
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In my rational mind, |
salin |
Mar-09-08 12:13 PM |
#22 |
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A moderate amount each month is all you need |
melody |
Mar-09-08 12:18 PM |
#24 |
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You are right, of course, |
salin |
Mar-09-08 12:27 PM |
#29 |
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You are being too optimistic/Head of the FDIC testified on Tueday the 4th of March |
truedelphi |
Mar-09-08 02:28 PM |
#64 |
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Okay, then let's put a gun in our mouths and pull the trigger |
melody |
Mar-09-08 04:56 PM |
#81 |
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You might want to check on the article that appeared in the WSJ last week about the Fed |
greyhound1966 |
Mar-09-08 02:44 PM |
#70 |
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If not there, then where? |
salin |
Mar-09-08 03:10 PM |
#76 |
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Tangible assets IMO. Stuff that you can hold that has intrinsic value. |
greyhound1966 |
Mar-09-08 04:01 PM |
#79 |
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Blame the repeal of the Glass-Steagall Act |
Ichingcarpenter |
Mar-09-08 11:56 AM |
#9 |
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Fascinating (and troubling) read. |
salin |
Mar-09-08 12:21 PM |
#25 |
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No commentator ever asks about the repeal of the Glass-Stegal act |
Ichingcarpenter |
Mar-09-08 12:42 PM |
#34 |
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The words regulation and deregulation also never come up |
salin |
Mar-09-08 12:53 PM |
#36 |
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A MUST read! You will not see the real reason in the media (nor unfortunately in some posts here) |
Morereason |
Mar-09-08 11:10 PM |
#106 |
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Wow. Thanks for posting that link. |
rockymountaindem |
Mar-10-08 12:22 AM |
#113 |
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They blamed Katrina's casualties on the victims. Why not this? n/t |
live love laugh |
Mar-09-08 11:57 AM |
#10 |
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The blame for that is on * |
Xenotime |
Mar-10-08 12:03 PM |
#133 |
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The elephant in the room |
whosinpower |
Mar-09-08 11:58 AM |
#12 |
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It's actually more simple than that |
Hydra |
Mar-09-08 12:09 PM |
#20 |
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No, it's not that simple. |
BadgerLaw2010 |
Mar-09-08 12:29 PM |
#32 |
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Watch "Money as Debt" |
Hydra |
Mar-09-08 12:55 PM |
#37 |
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That video is idiocy. You think banks enjoy these enormous loan-loss provisions? |
BadgerLaw2010 |
Mar-09-08 01:57 PM |
#50 |
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Why in the world did they leave themselves so very risk exposed. |
salin |
Mar-09-08 01:58 PM |
#51 |
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Lots of reasons, but three big ones: |
BadgerLaw2010 |
Mar-09-08 02:12 PM |
#58 |
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interesting summary |
salin |
Mar-09-08 02:31 PM |
#66 |
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This ignores the fact that the whole hyper-inflation of real estate valuations |
greyhound1966 |
Mar-09-08 02:50 PM |
#72 |
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What's idiocity in that video? |
Hydra |
Mar-09-08 05:31 PM |
#86 |
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excellent point. |
salin |
Mar-09-08 12:28 PM |
#30 |
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If I could edit your post I'd put your last paragraph at the top. But you're right. |
Poll_Blind |
Mar-09-08 12:23 PM |
#26 |
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You MUST be kidding. ARMs are for IDIOTS. |
AlertLurker |
Mar-09-08 12:24 PM |
#27 |
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No where did I suggest congress should act on refi... |
salin |
Mar-09-08 12:38 PM |
#33 |
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Abdication of responsibility. |
AlertLurker |
Mar-09-08 01:41 PM |
#47 |
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Sure you can |
salin |
Mar-09-08 01:48 PM |
#49 |
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Another Milton Friedman/Social Darwinist? |
Morereason |
Mar-09-08 11:13 PM |
#107 |
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I would disagree that many of these individuals.. |
girl gone mad |
Mar-09-08 02:30 PM |
#65 |
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Where is everyone getting the "McMansion" philosophy? |
Morereason |
Mar-09-08 11:18 PM |
#108 |
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these would not be 'bad loans' if the borrowers upheld their end |
Lance_Boyle |
Mar-10-08 08:53 AM |
#124 |
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You know what? You'll get to look down your nose at us. |
JulieRB |
Mar-09-08 12:51 PM |
#35 |
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Countrywide being investigated, and others have already been shut down. |
salin |
Mar-09-08 12:55 PM |
#38 |
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salin, the poster I was responding to, according to her profile, |
JulieRB |
Mar-09-08 11:26 PM |
#110 |
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duly noted |
salin |
Mar-10-08 02:41 AM |
#114 |
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Deleted message |
Name removed |
Mar-10-08 07:22 AM |
#119 |
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Ahhh. The dulcet tones of Alert Lurker, eh? |
JulieRB |
Mar-10-08 11:40 AM |
#130 |
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I'm always cheered when one of the "little people" does well. |
AlertLurker |
Mar-09-08 01:31 PM |
#43 |
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Gosh. Color me surprised. |
JulieRB |
Mar-09-08 11:23 PM |
#109 |
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I thought I made a mistake once. It turned out that I was wrong. |
AlertLurker |
Mar-10-08 07:14 AM |
#118 |
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Still riding your preconceptions into the ground, I see |
JulieRB |
Mar-10-08 11:38 AM |
#129 |
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You are behaving like a whiney moron. |
AlertLurker |
Mar-12-08 07:02 AM |
#136 |
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Your motivation is completely ass-backward, but you got to the right conclusion. |
greyhound1966 |
Mar-09-08 02:54 PM |
#73 |
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Heads up: Name change - Nonprime and Specialty Lending |
flashl |
Mar-09-08 01:18 PM |
#41 |
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wish I could be a fly on that wall |
salin |
Mar-09-08 01:26 PM |
#42 |
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Don't know. Here we are thinking American consumers had bled out. nt |
flashl |
Mar-09-08 01:41 PM |
#45 |
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Maybe they are going to try to sell houses (more modest) to |
salin |
Mar-09-08 01:43 PM |
#48 |
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Large inventories exist, folks still with funds |
flashl |
Mar-09-08 02:10 PM |
#56 |
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I think values have to sink quite a bit more before folks |
salin |
Mar-09-08 02:21 PM |
#61 |
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SUBPRIME CRISIS ILLUSTRATED |
DireStrike |
Mar-09-08 02:08 PM |
#54 |
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Bingo! Good piece, thanks. n/t |
greyhound1966 |
Mar-09-08 03:15 PM |
#77 |
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That really needs it's own thread. |
Rosemary2205 |
Mar-09-08 08:30 PM |
#98 |
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I think you've hit on the real issue. This was all manufactured in order to artificially |
greyhound1966 |
Mar-09-08 02:09 PM |
#55 |
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I'm a Michigander, and I approve this post. |
knitter4democracy |
Mar-09-08 02:32 PM |
#67 |
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People just play by the rules set down for them |
NNN0LHI |
Mar-09-08 02:34 PM |
#68 |
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Several years ago a friend was looking at cars... and the salesperson |
salin |
Mar-09-08 02:46 PM |
#71 |
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The rules have not changed, it is called the 4-square method, and car sales |
greyhound1966 |
Mar-09-08 03:07 PM |
#75 |
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There's A Lot of Blame To Go Around |
TML |
Mar-09-08 03:32 PM |
#78 |
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There is plenty of blame to go around.. |
sendero |
Mar-09-08 05:17 PM |
#84 |
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Deleted message |
Name removed |
Mar-09-08 05:44 PM |
#88 |
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I am sorry to read that... |
salin |
Mar-09-08 06:05 PM |
#92 |
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Edweird, I'm so sorry |
JulieRB |
Mar-09-08 11:35 PM |
#111 |
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Deleted message |
Name removed |
Mar-10-08 08:49 AM |
#123 |
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The borrowers are partly at fault but blaming them is about the dumbest way to solve the problem |
Hippo_Tron |
Mar-09-08 06:08 PM |
#93 |
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Yes, please |
varelse |
Mar-09-08 08:26 PM |
#97 |
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I'm putting the blame about 60% on borrowers... |
YellowRubberDuckie |
Mar-09-08 08:46 PM |
#99 |
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For the individual loans i would agree, but in many cases |
salin |
Mar-09-08 09:02 PM |
#100 |
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I agree |
Skittles |
Mar-09-08 09:42 PM |
#101 |
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There is a lot of blame to go around but... |
Hangingon |
Mar-09-08 10:51 PM |
#102 |
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There are criminal investigations of the LENDERS underway for fraud... |
El Pinko |
Mar-09-08 11:55 PM |
#112 |
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Yes, buyers should be responsible but.. |
Windex |
Mar-10-08 05:07 AM |
#115 |
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I can point to 3 words that set off the bubble - No Down Payment |
Phoebe Loosinhouse |
Mar-10-08 05:52 AM |
#117 |
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I read a post here at DU where a DU'er buying a house said his lender |
AP |
Mar-10-08 08:23 AM |
#121 |
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Busy Work With Funny Money |
KharmaTrain |
Mar-10-08 09:10 AM |
#125 |
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Preditory lending reminds me of all the life insurance scams... |
WCGreen |
Mar-10-08 09:19 AM |
#126 |
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It would make more sense to stop trying to distill everything down to a single explanation |
slackmaster |
Mar-10-08 10:16 AM |
#127 |
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This crisis is where Greed met Stupidity, and we all lost |
MadHound |
Mar-10-08 10:40 AM |
#128 |
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Look, many of these people knew what their payments per month |
Mystery2Me |
Mar-10-08 11:48 AM |
#131 |
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the majority of people who are in trouble in this mess were |
xchrom |
Mar-10-08 01:44 PM |
#134 |
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Find the crooked lenders and assist |
Spoonman |
Mar-10-08 02:21 PM |
#135 |
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