On Thu, Dec 4, 2008 at 11:18 AM, Michael Madigan <[EMAIL PROTECTED]> wrote: > There were a lot of people who were sold variable rates to get them into a > house they couldn't afford. In 5 years, their salary would be way higher and > of course interest rates would remain low. > > The sub-prime mortgage brokers were morally equivalent to drug dealers. > > *************************************************
I don't think that I would go that far. I think that the creativity they generated in getting people approved, in a home or into an investment was amazing. We all see that it was all smoke and mirrors that the true value of those assets were going to keep climbing allowing this to happen. I say that the true killer to this dream was oil hovering around the 4.00 price. That was the killer that stole what little cash people had. Their food cost rose so much as well as the cost to get to work made in unlivable for way to many people. -- Stephen Russell Sr. Production Systems Programmer Mimeo.com Memphis TN 901.246-0159 _______________________________________________ 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.
