[quote=North County Jim]
These are called business decisions and they are made every day.
[/quote]
Calling this a business decision is a ridiculous characterization. This would be a business decision if it involved two private parties who were only risking their own money.
Instead, what we have here is two parties playing with other people’s money. You have the banker on one side who is playing with depositor’s money backed up by taxpayer dollars. His main goal was to make as much short-term profit for himself as possible by shafting depositors/taxpayers. On the other side of the deal you have some clueless moron house buyer who is just looking for as low of an initial payment as he can get along with a low-to-minimal down payment.
Characterizing this type of transaction as a ‘business’ decision is absurd. It’s two jokers playing with other people’s money. Socialism to the core.
