2828 wrote: The whole thing was doomed to fail, unfortunately the wrong people have been mostly blamed.I couldn't agree more. In blaming CRA guidelines, which are comparatively conservative, analysts put the em-PHA-sis on the wrong syl-LA-ble.As homeowners watched their equity evaporate, they stopped paying. I'm working a short sale right now where the owner-occupant hasn't made a payment in three years. It'll probably take another six months to close the transaction.Mortgage derivative traders made unheard of bets with other people's money. http://www.huffingtonpost.com/2010/02/15/janet-tavakoli-wall...Now the statute of limitations on financial fraud has tolled, so no one will go to jail. Sad.
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