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Reply #21: much of the mortgage meltdown has unconnected dots..which makes me question..like [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
xiamiam Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-05-09 01:41 PM
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21. much of the mortgage meltdown has unconnected dots..which makes me question..like
5 banks own the lionshare of mortgages
banks continue to be unwilling to write down the mortgage to reflect market rates
market rates keep tumbling with no end in sight..
foreclosures are causing the problem but banks refuse to stop it
prefer to take the loss and keep driving rates down

EXPLAIN THIS TO ME

it is illogical..Joe public is confused and still believes the immigrant workers buying subprime mortgages did this..or the millions of americans who bit off more than they can chew...still buying that bullshit ...but thats what they've been told..and it is as real as flying pigs

we know they made BILLIONS on the credit default swaps..BILLIONS...before this even started..

millions of homes are sitting empty...homeless people are still sleeping outside...the ads for rent instead of buy have tripled on the internet...

somebody please connect these dots...

am i suspicious...you betcha
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