05-14-2008, 10:03 PM | #21 | |
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05-15-2008, 12:54 AM | #22 |
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Yes, I'm primarily putting the blame on the mortgage companies. They should be smart enough to know do sufficient risk assessment to know what problems their underwriting guidelines were exposing themselves to. And I don't give a crap what pressures so-called government representatives were putting on them.
There was a feeding frenzy in the low interest rate environment and the hyper-competitivity led to wholesale stupidity. Sincerely, An actuary who is very familiar with risk assessment |
05-15-2008, 01:03 AM | #23 | |
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http://www.slate.com/id/2189576
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05-15-2008, 01:14 AM | #24 | ||
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As your Slate article states, a "liars loan" is: Quote:
- It's not the fault of individual borrowers - it's the fault of predatory lenders - It's not the fault of lenders - it's the fault of individuals lying about their income - It's not the fault of XYZ, it's the fault of ABC - ad infinitum. I just don't understand the constant search for someone/something to blame and for someone/something to bail out. |
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05-15-2008, 01:15 AM | #25 | ||
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Last edited by Indy Coug; 05-15-2008 at 01:23 AM. |
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05-15-2008, 01:29 AM | #26 |
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deja vu
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