Part I
Part II
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*sigh*………but some people got VERY rich out of another’s poverty
this was a great explanation of a very complicated system.
Very clear description of something that i usually dont care to understand
. And i do understand it.
So, we are all screwed right?
So they fix this problem, we have 10 years of crap, then 80 years of relative happyness, and then they come up with another trick to beat the system, making another crysis..
Greed sucks.
With any luck, congress will allow homeowners who are up-side-down in their mortgages to refinance their homes at the current value so the will not default on their loans. Safeguards will need to be in place to keep unscrupulous people from taking advantage of this fiasco.
use the free market system and don’t bail them out let the idiots that cant do math go out of busyness and the ones that survive will fill the gaps.
Other than paying a low rate on treasuries, I don’t see where the government is given any responsibility in causing the problem.
When houses were being foreclosed which increased the supply in the market, builders kept on building—shooting themselves in the foot.
There’s a lot of blame to go around.
excellent