http://tinyurl.com/2cqv7t

"HK" wrote in message
...
http://tinyurl.com/2cqv7t

In my mind a lot of the blame for the home mortgage crisis belongs squarely
on the shoulders of those that received the loans.

In their quest to get into a home they failed to analyze what could/would
happen when the inevitable rate changes came along.

That doesn't excuse the lenders. "There's a sucker born every minute".

On Wed, 30 Jan 2008 08:49:05 -0500, D.Duck wrote:

"HK" wrote in message
...
http://tinyurl.com/2cqv7t

In my mind a lot of the blame for the home mortgage crisis belongs
squarely on the shoulders of those that received the loans.

True, but I'm a little more sympathetic to the homeowners as they aren't
the professionals in the relationship. I also have no sympathy for the
professionals if there was fraud involved.

http://news.bbc.co.uk/2/hi/business/7216602.stm

Greed does funny things. In this case, it could take down the world's
economy.



In their quest to get into a home they failed to analyze what
could/would happen when the inevitable rate changes came along.

That doesn't excuse the lenders. "There's a sucker born every minute".

wrote in message
...
On Wed, 30 Jan 2008 08:49:05 -0500, D.Duck wrote:

"HK" wrote in message
...
http://tinyurl.com/2cqv7t

In my mind a lot of the blame for the home mortgage crisis belongs
squarely on the shoulders of those that received the loans.

True, but I'm a little more sympathetic to the homeowners as they aren't
the professionals in the relationship. I also have no sympathy for the
professionals if there was fraud involved.

http://news.bbc.co.uk/2/hi/business/7216602.stm

Greed does funny things. In this case, it could take down the world's
economy.



In their quest to get into a home they failed to analyze what
could/would happen when the inevitable rate changes came along.

That doesn't excuse the lenders. "There's a sucker born every minute".



There are only about 100,000 of these on the internet(s):
http://www.betterbudgeting.com/budgetformsfree.htm

"D.Duck" wrote in message
...

"HK" wrote in message
...
http://tinyurl.com/2cqv7t

In my mind a lot of the blame for the home mortgage crisis belongs
squarely on the shoulders of those that received the loans.

In their quest to get into a home they failed to analyze what could/would
happen when the inevitable rate changes came along.

That doesn't excuse the lenders. "There's a sucker born every minute".



A female companion of mine wanted buy a house together a few years back. She
kept looking at houses in a ridiculously high price range. I pointed out
that if either of us lost our job, we'd be in trouble almost instantly with
the price range she was focused on. She said "Oh come on. How likely is
that?" Two weeks later, she lost her job. Gamblers shouldn't buy houses.

JoeSpareBedroom wrote:
"D.Duck" wrote in message
...
"HK" wrote in message
...
http://tinyurl.com/2cqv7t
In my mind a lot of the blame for the home mortgage crisis belongs
squarely on the shoulders of those that received the loans.

In their quest to get into a home they failed to analyze what could/would
happen when the inevitable rate changes came along.

That doesn't excuse the lenders. "There's a sucker born every minute".



A female companion of mine wanted buy a house together a few years back. She
kept looking at houses in a ridiculously high price range. I pointed out
that if either of us lost our job, we'd be in trouble almost instantly with
the price range she was focused on. She said "Oh come on. How likely is
that?" Two weeks later, she lost her job. Gamblers shouldn't buy houses.



There are problems rampant in all sectors of the home mortgage business,
and most of them predate the current crisis. Some of them have to do
with the tax laws.


--
George W. Bush - Worst President Ever, to the very last minute of the
very last day of his term.

On Wed, 30 Jan 2008 08:49:05 -0500, "D.Duck" wrote:

That doesn't excuse the lenders. "There's a sucker born every minute".

There's lots of blame to go around. The real lenders were the bond
holders. They thought they were buying a sure thing and didn't ask
too many questions. And then there were the whole army of middle men
who were making money hand over fist, starting with the local mortgage
brokers, all the way up to the investment banks, bond rating
companies, and bond insurers. They didn't ask many questions either.