Correct – however, I recall reading in an earlier posting that someone was blaming these individuals for the fall of the housing market in the Inland Empire…
Point is: they are not the only loans to go under. Many of these sub-prime loans were taken by people who were young and seen a method to obtain a first home.
I believe the movie "The Devil's Advocate" states that pride gets them everytime…earlier he knew to use greed to lure individuals – commonly part of his or her own "lusts." Yes, greed did play a part in many of the decisions to get involved as it does the desire to hit the lotto in many individuals intent in purchasing a ticket – still boils down to greed.
As far as blaming these con-artists (if I may), I believe it was more a point of keep other individuals from entering into the same situation to which they had entered. For example – the Heath case and many others that are yet unknown.
According to the articles, these con-artists are still practicing their arts.
Folks who participated in this scheme inevitable were part of the process to artificially inflate RE. As is everyone else who took out easy money/interest only subprime and who really could afford to make ends meet, as well as banks,government, etc who loosened lending standards so much. ALL guilty as charged.
May I remind you that the original purpose of this thread was to report what happened to ocrenter's blog, and has since then been hijacked to talk about what happened in riverside? Shall I remind everyone how it was hijacked?
