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The Genesis of Our Current Mortgage Crisis

Started by morganb · 9 months ago

The genesis of our current financial crisis began with the GSEs, but the decisions which led to this crisis came largely from Washington. ... Continue reading »

2 comments

  • Ann

    9 months ago

    The problem that I have with this administration is that their tactics have been the same since the begining - FEAR and PANIC..From the"Weapons of Mass Destruction" to Bernanke's "Subprime is Contained" to "Buying Fannie and Freddie will solve everything" to Pauson's "This economy is sound" to "the bailout of wall street with AIG" to "the economy will collapse in 7 days(funny isn't that how long it took God to create the earth! Where did they get that orignal idea from) if we don't get this $ 700 billion STARTER blank check"

    This adminstration was been built on lies...and I find it interesing that the Harvard Mafia(Washington and Wall Street) didn't give a damn about the shareholders of these companies they let down ...but instead are arguing about the Golden Parachutes of their Buddies!

    I hope that congress doesn't follow the same path they always do..argue for a few days trying to look like the good guys and in the end be the bad guys and let the Bush Administraion have their way...

    As Benanke let slip today..this is "STEP 2"...why hasn't anyone in congress ask him how many steps does he think there will be? 14?
    reply
  • InlineBusiness

    9 months ago

    This home mortgage crisis is not caused by the interest rates. The root cause is the sub prime lending. Subprime lending can be simply described as lending at a higher rate of interest than normal rate of interest,on loans to people with poor credit history or paying capacity. So basically you are lending money at a higher rate of interest to a person who might not have the capacity to pay you back.

    Smart Equity - mortgage Payoff, ask mortgage, live mortgage free, mortgage debt
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