On 11/04/2010 4:33 PM, bpuharic wrote:

Then it became, "miss a car payment, lose your house"

That hasn't changed in my lifetime. Crappy credit rating on the car
gets you a higher interest rate on the house and pay or loose it.

Fortunately the real estate bubble had already started, mostly to
cover all of those 125% equity loans.
In the 90s and 2000s when they took all of the rationality out of who
could borrow money and invented ridiculous instruments to get more
cash in the system (about $2 trillion of cash that never really
existed) the die was set. We will never really have a recovery until
we swallow that $2 trillion dollar turd. We just added to the debt and
put it on our kid's plate.

and what of collateralized debt obligations which ballooned from 1
trillion in 96 to 62 trillion in 2006.

Bad accounting. Corruption.

think that might have had something to do with the collapse

Yep. Far too much freaking debt. A nation of debtor welshers.

Pathetic you loser types. Did you lose your house? Car? Both?

--
The Liberal way, take no responsibility.