On 1/18/2010 1:56 PM, Larry Colen wrote:
On Jan 18, 2010, at 5:05 AM, William Robb wrote:
----- Original Message ----- From: "P. J. Alling"
Subject: Re: Moved: denial vs doom (was urbanites vs squirrels)
Funny but the quasi governmental banks Fannie May and Freddie Mac
were apparently responsible for a large plurality of said bad loans
which they misrepresented on the resale market. This has been
reported by the Wall Street Journal. Which no matter what you may
think about their editorial page, has a better record of getting
their facts straight than any other American paper. It may be
partisan but if it's true...
It is intersting to note that this particular meltdown originated in
the USA. Whether it was because of no regulation, insufficient
regulation, incompetent regulation or just plain dishonest regulation
is immaterial. There is a huge problem with the way that business was
being done down there.
I also expect that it's back to the same old same old already.
Our banks had the best regulation that their money could buy.
The truly sad part is that it's their depositors money...
--
Larry Colen [email protected] sent from i4est
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