Nobody wants to talk about Wall Street today?

[4RE KLR]

Roscoe,

You are correct, but you did not mention that many, many of the so called sub-prime loans were not originated as sub-prime, but rather made to become sub-prime by lenders greed.

By many unscrupulous lenders raising rates when the LIBOR rate remains low, is just greed. These lenders bought every corner in America and built new buildings based on "Future Income". Sound familiar? (Aurther Anderson)??

The mortgage companies raised the mortgage rates on many people when the LIBOR rate was dropping and in turn foreclosed on the property.

So, to say that all the foreclosures were made (originated) to people who could not normally qualify for a loan. I would have to respectfully disagree with you on that statement.


Edited to add:
I do agree with you that many were made to people who should not have been granted these types of loans. They should have been better qualified and given fixed rate mortgages.

[FWB]

interesting article on this topic.......

Lehman CEO Fuld's hubris contributed to meltdown



http://www.reuters.com/article/reute...080914?sp=true