http://www.latimes.com/business/la-...coll=la-headlines-business&ctrack=1&cset=true
Its stories like these that make me really suspect that if the housing bubble "pops", its going to get more than a little nasty...kind of like the S&L debacle of a decade or two ago...but probably 10 to 20 times worse....
I'd probably need to re-read the article several times to figure out what kind of shell game is being played, but it can't be good...and this is one guy; theres probably 10,000 outfits like him churning all kids of marginal mortgage schemes..why do I suspect that once again the taxpayer is going to end up on the hook for a multi-Trillion dollar or more problem?
Its stories like these that make me really suspect that if the housing bubble "pops", its going to get more than a little nasty...kind of like the S&L debacle of a decade or two ago...but probably 10 to 20 times worse....
I'd probably need to re-read the article several times to figure out what kind of shell game is being played, but it can't be good...and this is one guy; theres probably 10,000 outfits like him churning all kids of marginal mortgage schemes..why do I suspect that once again the taxpayer is going to end up on the hook for a multi-Trillion dollar or more problem?
