Quote:
Originally Posted by HardDrive
Come one, everyone who wasn't intentionally sticking their head in the sand knew damn well that when you throw out all the traditional requirements for getting a mortgage, really bad things are going to happen.
"We didn't know the securitys would be worthless."
Really? You don't watch CNN? You don't watch the stories about people who make $60,000 who 'own' 5 houses?
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If you can cite a case where someone making 60k held 5 conforming mortgages, then I'll send you 750 ml of your favorite distilled beverage.
Until then, it apparently bears repeating: FNMA and FHLMC have nothing to do with the subprime market.
Edit: As I do not feel this is a partisan political issue, I don't see any reason to move this. I don't really visit the new forum, and am enjoying the near-absence of certain 'contributors'.