Washington Times Article…..”Blame Abounds For Housing Bust”

[Allan from Fallbrook]

Ex-SD: Since we both spend quite a lot of time on this blog, it is probably safe to assume you are staying fairly well abreast of developments in the housing market, and the economy at large.

I have been noticing a new behavior emerging amongst reporters, economists and bankers: The willingness to say that no one has a clear cut picture of how truly bad this might become, and to be prepared for the worst.

Just a few months back, Bernanke and Co. (and I include pretty much all of banking and finance in that little cabal, as well as the reporters and economists associated with the industry), were pronouncing the problem “contained” and asserting that prompt action by the FED and the ECB would bring a swift end to things.

Now, there is very much a sense that this might get out of control, and no one is entirely sure how big the blast pattern could be. Kind of alarming and refreshing, all at the same time.

[paramount]

Once again credit worthy persons/families impacted by generally irresponsible people who are not credit worthy.

I guess if you can’t beat em, might as well join em.

[paramount]

Once again credit worthy persons/families impacted by generally irresponsible people who are not credit worthy.

I guess if you can’t beat em, might as well join em.

[paramount]

Once again credit worthy persons/families impacted by generally irresponsible people who are not credit worthy.

I guess if you can’t beat em, might as well join em.

[paramount]

Once again credit worthy persons/families impacted by generally irresponsible people who are not credit worthy.

I guess if you can’t beat em, might as well join em.

[paramount]

Once again credit worthy persons/families impacted by generally irresponsible people who are not credit worthy.

I guess if you can’t beat em, might as well join em.

[Arraya]

Easy on your praise of the MSM. They are really good at pointing things out after the fact. That is not really their purpose. I’m sure there are quite a few FBs that could have used a hardhitting article back in 05.

[Arraya]

Easy on your praise of the MSM. They are really good at pointing things out after the fact. That is not really their purpose. I’m sure there are quite a few FBs that could have used a hardhitting article back in 05.

[Arraya]

Easy on your praise of the MSM. They are really good at pointing things out after the fact. That is not really their purpose. I’m sure there are quite a few FBs that could have used a hardhitting article back in 05.

[Arraya]

Easy on your praise of the MSM. They are really good at pointing things out after the fact. That is not really their purpose. I’m sure there are quite a few FBs that could have used a hardhitting article back in 05.

[Arraya]

Easy on your praise of the MSM. They are really good at pointing things out after the fact. That is not really their purpose. I’m sure there are quite a few FBs that could have used a hardhitting article back in 05.

[cr]

I’m glad to see people finally starting to realize how screwed up the housing/lending and related industries were over the past several years, but it leads me to 2 questions:

What are they going to do the people who allowed and encouraged this crap? Are they supposed to get off because they now admit they made a mistake?

Where were all these insights in the middle of lending $500,000 to a $12/hr part time parking lot attendant?

[cr]

I’m glad to see people finally starting to realize how screwed up the housing/lending and related industries were over the past several years, but it leads me to 2 questions:

What are they going to do the people who allowed and encouraged this crap? Are they supposed to get off because they now admit they made a mistake?

Where were all these insights in the middle of lending $500,000 to a $12/hr part time parking lot attendant?

[cr]

I’m glad to see people finally starting to realize how screwed up the housing/lending and related industries were over the past several years, but it leads me to 2 questions:

What are they going to do the people who allowed and encouraged this crap? Are they supposed to get off because they now admit they made a mistake?

Where were all these insights in the middle of lending $500,000 to a $12/hr part time parking lot attendant?

[cr]

I’m glad to see people finally starting to realize how screwed up the housing/lending and related industries were over the past several years, but it leads me to 2 questions:

What are they going to do the people who allowed and encouraged this crap? Are they supposed to get off because they now admit they made a mistake?

Where were all these insights in the middle of lending $500,000 to a $12/hr part time parking lot attendant?

[Author]

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