No. of Recommendations: 0
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.

Now the statute of limitations on financial fraud has tolled, so no one will go to jail. Sad.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.