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Author: tim443 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 465356  
Subject: Re: Mortgage Rates are TOO High Date: 12/8/2012 7:03 AM
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An interesting way to end a discussion/debate that you're losing.

I just don't like the constant change of the terms of discussion. I’m not a financial professional and if I use the occasional wrong term that should not become the discussion.

Would you like to tell me what it was I was losing? I happen to think that much of the global financial industry got very bloated and over complicated. This was particularly true of the US part of it but clearly others were following the leadership.

Since the bloated over complicated ones melted down and had to be saved by the taxpayers in 2008 there is probably some truth to my opinion?

Now that the politicians are at least trying to bring in some form of regulation to prevent a repeat of these gamblers blowing it up again we listen to whiny nonsense complaining that they won't be able to make a profit under these rules?

Since some regulated banking systems were able to make a profit and didn't melt down during the crisis perhaps some regulations would be in order?

You do I hope agree that there was a lot of excess 'stupid' in the system don't you, otherwise I'm wasting this typing.

If those regulations make some peripheral aspects of the bloated industry unprofitable perhaps that would suggest they don't need to be part of the system?

Could the bank hold on to at least part of each mortgage and have their loan dept write the mortgages themselves instead of rubber stamping someone else's work? This would as Becky suggested give them skin in the game and perhaps go a long way towards reducing the finger pointing excuses when things go bad?

Who knows it might get bankers position improved from their current below lawyers and barely above politicians on the public hate list?

So what’s wrong with my position? I'm perfectly willing to listen and learn but not to obtuse arrogance.


Tim
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