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Unconstitutional Patriot
Join Date: Apr 2000
Location: volunteer state
Posts: 5,620
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We wouldn't have suffered the bubble had everyone known it was a bubble. Too bad, so sad.
The ones I truly feel sorry for are the ones who did not put lives on hold and bought a home with a traditional 20% down payment and traditional debt/income ratios (~30%). If anyone should be aided, it should be those. The dumbasses who bought with low down, zero down, Alt-A smack should never have gotten in the game. The banks are guilty for even offering this trash.
The ratings agencies and investment bankers should be executed for their greed. Their models assumed housing prices would NEVER go down. If the CEOs of these organizations were crackheads or survived with partial brain matter, I could understand, but these folks were supposedly the creme of the crop. They were compensated very highly for running the ship aground and fracturing the nation's economy.
I have said it before: How could a dumb redneck from Tennessee see this bubble, while the financial Megatrons of the world be so blind? Well, I think the power of green had a lot to do with it.
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