“LOL! Do you think Countrywide, Wamu, Citi, Fannie, and Freddi are going to be able to survive now without some type of government bailout?”
No, I absolutely don’t believe they will survive, a point I made in the earlier post. Whether it’s ridiculous or not, it doesn’t change the fact that the banks were doing irresponsible lending to stay competitive. I completely agree with you that they were lemmings running off the cliff, but a lender would not have kept their doors open if they weren’t generating the kind of returns (false) that their competitors were.
