Menu

Home › Forums › Housing › “Free Money”

Viewing 15 posts - 1 through 15 (of 51 total)
1 2 3 4
  • Author
    Posts
  • November 27, 2007 at 5:35 AM #10998
    RottedOak
    Participant

    I think the story linked below epitomizes the attitude towards credit that helped drive the bubble:

    http://www.wisn.com/news/14697601/detail.html

    “Two employees confirmed for police that anyone who applied was being given instant credit — from $850 up to $4,000. They also told police that people started calling other people to the store for so-called free money. The store ran out of credit applications.”

    The end result wasn’t much different either:

    “The store did put a stop to it, though. There are signs on the door saying it is not processing credit card applications at this time.”

    The big difference, of course, is that there isn’t a resale market inside a Kmart. With no way to paper over the inevitable losses, the bank pulled the plug a lot quicker.

    November 27, 2007 at 7:26 AM #103847
    bsrsharma
    Participant

    A miniature version of the larger sub-prime crisis indeed. Beautifully illustrates the effects of loans where borrowers expect (implicitly) default right from the beginning.

    November 27, 2007 at 7:26 AM #103931
    bsrsharma
    Participant

    A miniature version of the larger sub-prime crisis indeed. Beautifully illustrates the effects of loans where borrowers expect (implicitly) default right from the beginning.

    November 27, 2007 at 7:26 AM #103943
    bsrsharma
    Participant

    A miniature version of the larger sub-prime crisis indeed. Beautifully illustrates the effects of loans where borrowers expect (implicitly) default right from the beginning.

    November 27, 2007 at 7:26 AM #103971
    bsrsharma
    Participant

    A miniature version of the larger sub-prime crisis indeed. Beautifully illustrates the effects of loans where borrowers expect (implicitly) default right from the beginning.

    November 27, 2007 at 7:26 AM #103992
    bsrsharma
    Participant

    A miniature version of the larger sub-prime crisis indeed. Beautifully illustrates the effects of loans where borrowers expect (implicitly) default right from the beginning.

    November 27, 2007 at 7:54 AM #103852
    The OC Scam
    Participant

    I would punch a employee for 10 bucks hell yeah!

    November 27, 2007 at 7:54 AM #103935
    The OC Scam
    Participant

    I would punch a employee for 10 bucks hell yeah!

    November 27, 2007 at 7:54 AM #103948
    The OC Scam
    Participant

    I would punch a employee for 10 bucks hell yeah!

    November 27, 2007 at 7:54 AM #103975
    The OC Scam
    Participant

    I would punch a employee for 10 bucks hell yeah!

    November 27, 2007 at 7:54 AM #103997
    The OC Scam
    Participant

    I would punch a employee for 10 bucks hell yeah!

    November 27, 2007 at 4:45 PM #104126
    GoUSC
    Participant

    What is wrong with our country? My god I am utterly ashamed.

    Can anything really save us?

    November 27, 2007 at 4:45 PM #104098
    GoUSC
    Participant

    What is wrong with our country? My god I am utterly ashamed.

    Can anything really save us?

    November 27, 2007 at 4:45 PM #104145
    GoUSC
    Participant

    What is wrong with our country? My god I am utterly ashamed.

    Can anything really save us?

    November 27, 2007 at 4:45 PM #104086
    GoUSC
    Participant

    What is wrong with our country? My god I am utterly ashamed.

    Can anything really save us?

  • Author
    Posts
Viewing 15 posts - 1 through 15 (of 51 total)
1 2 3 4
  • You must be logged in to reply to this topic.