Quote:
Originally Posted by Antitrust32
I'm probably less locked into any certain political ideology than anyone who posts in this whole section.
But I have pretty easily come to the conclusion that Obama is just 4 more years of GW Bush.
and besides, the number one reason the economy collapsed is because the American people lived way outside their means. But nobody wants to take any personal responsibility, so it was Bushes fault.
I ts not the person who bought a 400k house and could only afford a 150k house fault, its the bank's fault for providing the loan 
Zero personal responsibility in this overly spoiled country that I love. |
There is some truth to what you say. But...
How about the family that had no choice to buy a 400k house because the market inflated to a point where it was next to impossible to find a decent place for what they could afford? I am not saying that this was the case all of the time but there is certainly a large portion of the problem loans out there where this was indeed the case.
I think the bank does have a level of responsibility as does the borrower. The types of loans that were being pedaled were just irresponsible on so many levels especially the alt a and subprime that were pushed by the investment banks.
Mortgage rates are close to the lows of last year again and arm products are lower in many cases.
If investors want yield, they are going to have to lend money. Its as simple as that. That is why we are seeing Mbs and Cmbs offerings that we didn't see even last fall...and there is more to come.
Don't fight the fed Randall.
