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

[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?

[farbet]

TO ALL Those that did not do their homework,after all the warnings on this blog and others,of the fraud-fake appraisals,mortage fraud by the brokers-still you went and bought and are still buyin

YOU MUST BE REALLY STUPID

HOPE YOU LEARNED A BLOODY LESSON

To those who are waiting to sell.There is no knight in shining armor to bail you out.

CUT your prices and get out now-2008 will be worst than 2007.
The article says it all.

I do agree

[farbet]

TO ALL Those that did not do their homework,after all the warnings on this blog and others,of the fraud-fake appraisals,mortage fraud by the brokers-still you went and bought and are still buyin

YOU MUST BE REALLY STUPID

HOPE YOU LEARNED A BLOODY LESSON

To those who are waiting to sell.There is no knight in shining armor to bail you out.

CUT your prices and get out now-2008 will be worst than 2007.
The article says it all.

I do agree

[farbet]

TO ALL Those that did not do their homework,after all the warnings on this blog and others,of the fraud-fake appraisals,mortage fraud by the brokers-still you went and bought and are still buyin

YOU MUST BE REALLY STUPID

HOPE YOU LEARNED A BLOODY LESSON

To those who are waiting to sell.There is no knight in shining armor to bail you out.

CUT your prices and get out now-2008 will be worst than 2007.
The article says it all.

I do agree

[farbet]

TO ALL Those that did not do their homework,after all the warnings on this blog and others,of the fraud-fake appraisals,mortage fraud by the brokers-still you went and bought and are still buyin

YOU MUST BE REALLY STUPID

HOPE YOU LEARNED A BLOODY LESSON

To those who are waiting to sell.There is no knight in shining armor to bail you out.

CUT your prices and get out now-2008 will be worst than 2007.
The article says it all.

I do agree

[farbet]

TO ALL Those that did not do their homework,after all the warnings on this blog and others,of the fraud-fake appraisals,mortage fraud by the brokers-still you went and bought and are still buyin

YOU MUST BE REALLY STUPID

HOPE YOU LEARNED A BLOODY LESSON

To those who are waiting to sell.There is no knight in shining armor to bail you out.

CUT your prices and get out now-2008 will be worst than 2007.
The article says it all.

I do agree

[Allan from Fallbrook]

cooprider14: I was in the insurance/surety business during the construction boom prior to this last one, and I remember the same nonsense going on, but with surety bonds for construction. Underwriting standards went out the window, and the big sureties would bond anyone who could fog a mirror. When I spoke with the older underwriters, they were all shaking their heads and bemoaning the fact that at some point the music was going to stop, but they (the voices of reason and experience) weren’t being listened to. Rather, the CEOs of these companies were pushing the idea that this boom, unlike all of the others before, was somehow different.

Sound familiar? Your question as to the insights, or, more importantly, the lack of insights, is a good one. Unfortunately, when it comes to making money, even those who should know better generally forget the lessons of history and jump on the bandwagon with everyone else.

[Allan from Fallbrook]

cooprider14: I was in the insurance/surety business during the construction boom prior to this last one, and I remember the same nonsense going on, but with surety bonds for construction. Underwriting standards went out the window, and the big sureties would bond anyone who could fog a mirror. When I spoke with the older underwriters, they were all shaking their heads and bemoaning the fact that at some point the music was going to stop, but they (the voices of reason and experience) weren’t being listened to. Rather, the CEOs of these companies were pushing the idea that this boom, unlike all of the others before, was somehow different.

Sound familiar? Your question as to the insights, or, more importantly, the lack of insights, is a good one. Unfortunately, when it comes to making money, even those who should know better generally forget the lessons of history and jump on the bandwagon with everyone else.

[Allan from Fallbrook]

cooprider14: I was in the insurance/surety business during the construction boom prior to this last one, and I remember the same nonsense going on, but with surety bonds for construction. Underwriting standards went out the window, and the big sureties would bond anyone who could fog a mirror. When I spoke with the older underwriters, they were all shaking their heads and bemoaning the fact that at some point the music was going to stop, but they (the voices of reason and experience) weren’t being listened to. Rather, the CEOs of these companies were pushing the idea that this boom, unlike all of the others before, was somehow different.

Sound familiar? Your question as to the insights, or, more importantly, the lack of insights, is a good one. Unfortunately, when it comes to making money, even those who should know better generally forget the lessons of history and jump on the bandwagon with everyone else.

[Allan from Fallbrook]

cooprider14: I was in the insurance/surety business during the construction boom prior to this last one, and I remember the same nonsense going on, but with surety bonds for construction. Underwriting standards went out the window, and the big sureties would bond anyone who could fog a mirror. When I spoke with the older underwriters, they were all shaking their heads and bemoaning the fact that at some point the music was going to stop, but they (the voices of reason and experience) weren’t being listened to. Rather, the CEOs of these companies were pushing the idea that this boom, unlike all of the others before, was somehow different.

Sound familiar? Your question as to the insights, or, more importantly, the lack of insights, is a good one. Unfortunately, when it comes to making money, even those who should know better generally forget the lessons of history and jump on the bandwagon with everyone else.

[Allan from Fallbrook]

cooprider14: I was in the insurance/surety business during the construction boom prior to this last one, and I remember the same nonsense going on, but with surety bonds for construction. Underwriting standards went out the window, and the big sureties would bond anyone who could fog a mirror. When I spoke with the older underwriters, they were all shaking their heads and bemoaning the fact that at some point the music was going to stop, but they (the voices of reason and experience) weren’t being listened to. Rather, the CEOs of these companies were pushing the idea that this boom, unlike all of the others before, was somehow different.

Sound familiar? Your question as to the insights, or, more importantly, the lack of insights, is a good one. Unfortunately, when it comes to making money, even those who should know better generally forget the lessons of history and jump on the bandwagon with everyone else.

[Ex-SD]

And today, we have this from Paulson: http://www.msnbc.msn.com/id/22301892/
Either Bush really got the message from the large number of letter writers and e-mailers/phone callers who voiced their opinion on the subject of bailouts…………………….. or he’s saying one thing and is going to do another.

[Ex-SD]

And today, we have this from Paulson: http://www.msnbc.msn.com/id/22301892/
Either Bush really got the message from the large number of letter writers and e-mailers/phone callers who voiced their opinion on the subject of bailouts…………………….. or he’s saying one thing and is going to do another.

[Ex-SD]

And today, we have this from Paulson: http://www.msnbc.msn.com/id/22301892/
Either Bush really got the message from the large number of letter writers and e-mailers/phone callers who voiced their opinion on the subject of bailouts…………………….. or he’s saying one thing and is going to do another.

[Ex-SD]

And today, we have this from Paulson: http://www.msnbc.msn.com/id/22301892/
Either Bush really got the message from the large number of letter writers and e-mailers/phone callers who voiced their opinion on the subject of bailouts…………………….. or he’s saying one thing and is going to do another.

[Author]

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