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Originally Posted by timmgirvan
..a little late now.....barn door's wide open!
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Ahhhhh....finally you say something with which i can agree.
Fraud in mortgages from 2003-2007 was systemic and PROMOTED all the way up and down the line.
Mortgage fraud was bipartisan. You can point the finger at the democrats for promoting many of the community homebuyer iniiatives through Major banks (acorn) and the GSE's that became sespools of fraud and corruption.
You can point the finger at the republicans for the lax regulation in securitization by the wall st investment banks. Ever heard of the Ninja? Yes a wall st creation. Had to fill those CDO tranches.
09-24-2008, 12:04 AM
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