You're missing the important point. It doesn't matter which element trigger the problem, or whether the trigger was respected or a sleazebag. What matters is that the problem exist and can spread throughout the economy to the point it affect everybody.
A segment of the mortgage leading business offer easy money with no credit checks. Eventually this segment begins to experience substantial losses from customers who default on the loans. Lending institutions of every variety take notice and begin tightening up their procedures and requirements to obtain loans. Money stops flowing freely within the economy, and it becomes very difficult for anyone to obtain a loan. Contractor that build houses are unable to obtain loans to pursue new projects, and are forced to reduce staff and workers. Retailers like Wal-Mart experience disappointing sales because of higher unemployment, and the average citizen finds he has less and less money to spend, because he has been cut off from any credit, etc, etc, etc ... Regards, LelandJ Michael Madigan wrote: > The sub-prime mortgage lender is equivalent to a > used-car salesman. People get hit with ridiculous > fees. I don't care how many of these sleazebags go > out of business. > > However, the small guy who is getting killed with > variable rate mortgages, he doesn't deserve this. > > > > --- "Leland F. Jackson, CPA" <[EMAIL PROTECTED]> > wrote: > > > http://www.washingtonpost.com/wp-dyn/content/article/2007/08/17/AR2007081700618.html > >> or >> >> http://tinyurl.com/32pdoj >> >> Regards, >> >> LelandJ >> >> Michael Madigan wrote: >> >>> The Fed overtightened by raising interest rates. >>> These morons are trying to curb non-existent >>> inflation. >>> >>> They should have dropped interest rates a long >>> >> time >> >>> ago. >>> >>> >>> >>> --- "Leland F. Jackson, CPA" >>> >> <[EMAIL PROTECTED]> >> >>> wrote: >>> >>> >>> >>>> The stock market is very jittery right now to the >>>> point the Federal >>>> Reserve had to lower interest rates in an attempt >>>> >> to >> >>>> manipulate a very >>>> tight money situation within the second rate >>>> mortgage segment that >>>> threatened to slow down the economy or even close >>>> some mortgage >>>> companies. It is becoming increasing hard to >>>> >> find a >> >>>> lending institution >>>> will to make a loan. Some people feel the >>>> >> economy >> >>>> is not nearly as >>>> roses as you see it, and manipulation a free >>>> >> market >> >>>> economy will on go >>>> so far. >>>> >>>> Regards, >>>> >>>> LelandJ >>>> >>>> Michael Madigan wrote: >>>> >>>> >>>>> Yes the economy sucks. >>>>> >>>>> Record low unemployment >>>>> Record high stock market >>>>> Record high government revenues >>>>> >>>>> Really sucks bad. >>>>> >>>>> >>>>> --- "Leland F. Jackson, CPA" >>>>> >>>>> >>>> <[EMAIL PROTECTED]> >>>> >>>> >>>>> wrote: >>>>> >>>>> >>>>> >>>>> >>>>>> Another four year of King George, or a King >>>>>> >>>>>> >>>> George >>>> >>>> >>>>>> clone like Fred, and >>>>>> you're right, there won't be much left of the >>>>>> >>>>>> >>>> U.S. >>>> >>>> >>>>>> The U.S. has really been run into the ground >>>>>> >> the >> >>>>>> last last six or seven >>>>>> years with fiscal irresponsibility, deficit >>>>>> spending, reckless >>>>>> borrowing by the U.S. from other countries >>>>>> >> like >> >>>>>> China leading to an >>>>>> ever mounting debt, secrecy in government, >>>>>> propaganda and information, >>>>>> news releases contain misinformation to mislead >>>>>> congress and the >>>>>> American people, not to mention what has been >>>>>> >>>>>> >>>> done >>>> >>>> >>>>>> to the U.S. >>>>>> Constitution and Justice Department. The U.S. >>>>>> foreign policy is a >>>>>> wreck, the dollar has been greatly weakened >>>>>> >>>>>> >>>> against >>>> >>>> >>>>>> most other >>>>>> currencies and the stock market is jittery >>>>>> >>>>>> >>>> because >>>> >>>> >>>>>> cut rate mortgage >>>>>> companies have been lending money like there is >>>>>> >>>>>> >>>> no >>>> >>>> >>>>>> tomorrow. Now >>>>>> leadership within the military is advising that >>>>>> >> a >> >>>>>> military draft should >>>>>> be considered. >>>>>> >>>>>> Are you really sure you want another >>>>>> >>>>>> >>>> Administration >>>> >>>> >>>>>> that would follow >>>>>> along these lines???? >>>>>> >>>>>> Regards, >>>>>> >>>>>> LelandJ >>>>>> >>>>>> Michael Madigan wrote: >>>>>> >>>>>> >>>>>> >>>>>>> But there won't be a country left so it >>>>>>> >> doesn't >> >>>>>>> matter. >>>>>>> >>>>>>> >>>>>>> >>>>>>> >>>>>>> >>>>>>>> Once the Democrats are put back at the helm >>>>>>>> >> of >> >>>>>>>> government, the value to >>>>>>>> the dollar should become stronger against >>>>>>>> >> other >> >>>>>>>> currencies making the >>>>>>>> cost of foreign imports cheaper. \ >>>>>>>> >>>>>>>> >>>>>>>> >>>>>>>> >>>>>>> >>>>>>> >>>>>>> [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
