Agreed. As soon as we figured him out he decided to leave. That whole "pay no attention to the man behind the curtain" type scenario. I wish he'd come back.
On Mon, Oct 18, 2010 at 12:23 PM, Scott Stroz <[email protected]> wrote: > > Right around this time is when Gruss would remind us all that > sub-prime mortgages were only a small part of the problem.... > > He used to annoy the piss out of me at times, but I miss Gruss. > > On Mon, Oct 18, 2010 at 12:13 PM, Robert Munn <[email protected]> wrote: > > > > On Mon, Oct 18, 2010 at 8:49 AM, Vivec <[email protected]> wrote: > > > >> > >> Where are you getting your information that these corporations were > >> 'Forced' into creating this financial crisis? > >> Are you implying that they bear no responsibility at all in this? > >> > > > > We have covered this before. Time warp back a few years. Democrats > scolded > > Fannie and Freddie for not working harder to deliver the dream of home > > ownership to millions of people who he felt deserved to have the American > > dream - economics be damned. He forced them to lower their standards and > > take on many more sub-prime mortgages in pursuit of this policy goal. > Fannie > > and Freddie, backed by the American taxpayer, complied. A combination of > > this policy and the availability of cheap money sent sales soaring, > creating > > the housing bubble. > > > > Banks saw the flood of easy money and figured they had to jump on the > > bandwagon or miss out on the profits. You can't blame them for doing what > > comes naturally to them - trying to maximize shareholder returns. Do they > > bear any responsibility for the mess? Sure. Like everyone else, they got > > caught up in the craze and failed to see the fiscal crash they were > headed > > toward. They generated so many bad loans in the sub-prime market that > they > > put their core businesses in jeopardy of failure. > > > > > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:329323 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
