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34f3f3f
Participant[quote=FormerSanDiegan]
I don’t think resets by themselves outside of the option ARMS are going to be as much of a factor as the fact that property values have declined to the point where the owner is underwater.
[/quote]This makes sense, but how big of a problem is option ARMs going to be for banks. If toxic subprime loans caused lending to seize up, what is the effect of option ARMs going to be, assuming that it hasn’t already been effecting things?
34f3f3f
Participant[quote=FormerSanDiegan]
I don’t think resets by themselves outside of the option ARMS are going to be as much of a factor as the fact that property values have declined to the point where the owner is underwater.
[/quote]This makes sense, but how big of a problem is option ARMs going to be for banks. If toxic subprime loans caused lending to seize up, what is the effect of option ARMs going to be, assuming that it hasn’t already been effecting things?
34f3f3f
Participant[quote=FormerSanDiegan]
I don’t think resets by themselves outside of the option ARMS are going to be as much of a factor as the fact that property values have declined to the point where the owner is underwater.
[/quote]This makes sense, but how big of a problem is option ARMs going to be for banks. If toxic subprime loans caused lending to seize up, what is the effect of option ARMs going to be, assuming that it hasn’t already been effecting things?
34f3f3f
Participant[quote=FormerSanDiegan]
I don’t think resets by themselves outside of the option ARMS are going to be as much of a factor as the fact that property values have declined to the point where the owner is underwater.
[/quote]This makes sense, but how big of a problem is option ARMs going to be for banks. If toxic subprime loans caused lending to seize up, what is the effect of option ARMs going to be, assuming that it hasn’t already been effecting things?
34f3f3f
Participant[quote=coxapple]Christopher Cox, chairman of the Securities and Exchange Commission, defended himself, saying that virtually no one had foreseen the meltdown of the mortgage market.
It would be useful / interesting to assemble list of those who did before July 07.[/quote]
I also saw this on C-Span and was amazed at the sheer gall of people like Greenspan, and the former treasury secretary (?) who seemed adamant that they didn’t see this coming, or as Greenspan put it, couldn’t have “predicted” it. Cox was a little more forthright, and pointed the finger at regulations, or lack thereof being the primary cause. So from that, we are to read that they saw it coming, but nobody had the authority to stop it …and of course we all know how hard they tried π It just seems too many were making too much, and cared too little for the consequences.
34f3f3f
Participant[quote=coxapple]Christopher Cox, chairman of the Securities and Exchange Commission, defended himself, saying that virtually no one had foreseen the meltdown of the mortgage market.
It would be useful / interesting to assemble list of those who did before July 07.[/quote]
I also saw this on C-Span and was amazed at the sheer gall of people like Greenspan, and the former treasury secretary (?) who seemed adamant that they didn’t see this coming, or as Greenspan put it, couldn’t have “predicted” it. Cox was a little more forthright, and pointed the finger at regulations, or lack thereof being the primary cause. So from that, we are to read that they saw it coming, but nobody had the authority to stop it …and of course we all know how hard they tried π It just seems too many were making too much, and cared too little for the consequences.
34f3f3f
Participant[quote=coxapple]Christopher Cox, chairman of the Securities and Exchange Commission, defended himself, saying that virtually no one had foreseen the meltdown of the mortgage market.
It would be useful / interesting to assemble list of those who did before July 07.[/quote]
I also saw this on C-Span and was amazed at the sheer gall of people like Greenspan, and the former treasury secretary (?) who seemed adamant that they didn’t see this coming, or as Greenspan put it, couldn’t have “predicted” it. Cox was a little more forthright, and pointed the finger at regulations, or lack thereof being the primary cause. So from that, we are to read that they saw it coming, but nobody had the authority to stop it …and of course we all know how hard they tried π It just seems too many were making too much, and cared too little for the consequences.
34f3f3f
Participant[quote=coxapple]Christopher Cox, chairman of the Securities and Exchange Commission, defended himself, saying that virtually no one had foreseen the meltdown of the mortgage market.
It would be useful / interesting to assemble list of those who did before July 07.[/quote]
I also saw this on C-Span and was amazed at the sheer gall of people like Greenspan, and the former treasury secretary (?) who seemed adamant that they didn’t see this coming, or as Greenspan put it, couldn’t have “predicted” it. Cox was a little more forthright, and pointed the finger at regulations, or lack thereof being the primary cause. So from that, we are to read that they saw it coming, but nobody had the authority to stop it …and of course we all know how hard they tried π It just seems too many were making too much, and cared too little for the consequences.
34f3f3f
Participant[quote=coxapple]Christopher Cox, chairman of the Securities and Exchange Commission, defended himself, saying that virtually no one had foreseen the meltdown of the mortgage market.
It would be useful / interesting to assemble list of those who did before July 07.[/quote]
I also saw this on C-Span and was amazed at the sheer gall of people like Greenspan, and the former treasury secretary (?) who seemed adamant that they didn’t see this coming, or as Greenspan put it, couldn’t have “predicted” it. Cox was a little more forthright, and pointed the finger at regulations, or lack thereof being the primary cause. So from that, we are to read that they saw it coming, but nobody had the authority to stop it …and of course we all know how hard they tried π It just seems too many were making too much, and cared too little for the consequences.
34f3f3f
ParticipantI think that statement is ignorance, inside denial wrapped in a dream. Either that or he’s a protagonist with a job interview for the devil’s advocate.
34f3f3f
ParticipantI think that statement is ignorance, inside denial wrapped in a dream. Either that or he’s a protagonist with a job interview for the devil’s advocate.
34f3f3f
ParticipantI think that statement is ignorance, inside denial wrapped in a dream. Either that or he’s a protagonist with a job interview for the devil’s advocate.
34f3f3f
ParticipantI think that statement is ignorance, inside denial wrapped in a dream. Either that or he’s a protagonist with a job interview for the devil’s advocate.
34f3f3f
ParticipantI think that statement is ignorance, inside denial wrapped in a dream. Either that or he’s a protagonist with a job interview for the devil’s advocate.
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