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Daniel
ParticipantI’m afraid you might be right, SDR. What we get, in a nutshell, is folks lying on their mortgage application on the way up by overstating their income (in order to get into a house), and lying on their re-fi application on the way down by understating their income (in order to get a deep principal reduction).
And oh, yeah, I almost forgot: you and I will pay the difference.
ParticipantI’m afraid you might be right, SDR. What we get, in a nutshell, is folks lying on their mortgage application on the way up by overstating their income (in order to get into a house), and lying on their re-fi application on the way down by understating their income (in order to get a deep principal reduction).
And oh, yeah, I almost forgot: you and I will pay the difference.
ParticipantI’m afraid you might be right, SDR. What we get, in a nutshell, is folks lying on their mortgage application on the way up by overstating their income (in order to get into a house), and lying on their re-fi application on the way down by understating their income (in order to get a deep principal reduction).
And oh, yeah, I almost forgot: you and I will pay the difference.
ParticipantOh, and Krugman, of course… A Nobel prize winner would be a better pick than a Marxist economist who died in 1938 🙂
I’m amazed Nostradamus didn’t make the list, though…
ParticipantOh, and Krugman, of course… A Nobel prize winner would be a better pick than a Marxist economist who died in 1938 🙂
I’m amazed Nostradamus didn’t make the list, though…
ParticipantOh, and Krugman, of course… A Nobel prize winner would be a better pick than a Marxist economist who died in 1938 🙂
I’m amazed Nostradamus didn’t make the list, though…
ParticipantOh, and Krugman, of course… A Nobel prize winner would be a better pick than a Marxist economist who died in 1938 🙂
I’m amazed Nostradamus didn’t make the list, though…
ParticipantOh, and Krugman, of course… A Nobel prize winner would be a better pick than a Marxist economist who died in 1938 🙂
I’m amazed Nostradamus didn’t make the list, though…
ParticipantToo bad many of the others on that list are populist politicians, lunatics or crooks (the astrologer fellow, for instance). If I were Roubini or Roach, I’m not so sure I’d be proud to be in that company. They could have come up with at least 10 respected names. Volcker, Gramlich, and even CR come to mind, and there are many, many more.
ParticipantToo bad many of the others on that list are populist politicians, lunatics or crooks (the astrologer fellow, for instance). If I were Roubini or Roach, I’m not so sure I’d be proud to be in that company. They could have come up with at least 10 respected names. Volcker, Gramlich, and even CR come to mind, and there are many, many more.
ParticipantToo bad many of the others on that list are populist politicians, lunatics or crooks (the astrologer fellow, for instance). If I were Roubini or Roach, I’m not so sure I’d be proud to be in that company. They could have come up with at least 10 respected names. Volcker, Gramlich, and even CR come to mind, and there are many, many more.
ParticipantToo bad many of the others on that list are populist politicians, lunatics or crooks (the astrologer fellow, for instance). If I were Roubini or Roach, I’m not so sure I’d be proud to be in that company. They could have come up with at least 10 respected names. Volcker, Gramlich, and even CR come to mind, and there are many, many more.
ParticipantToo bad many of the others on that list are populist politicians, lunatics or crooks (the astrologer fellow, for instance). If I were Roubini or Roach, I’m not so sure I’d be proud to be in that company. They could have come up with at least 10 respected names. Volcker, Gramlich, and even CR come to mind, and there are many, many more.
ParticipantDaCounselor,
I can certainly understand your argument. It’s too late at this stage to worry about fairness and moral hazard. But some people are going to fume over this. I’m not even talking about “responsible renters”. I’m talking about those homeowners who bought at the top and put sizable downpayments. They will see their neighbors’ loans written off, while their downpayments vanish.
In this bizarro world we’re living in, zero-down buyers have the upper hand; 30% down buyers are screwed.
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