 Quote:
Originally Posted by brewer12345
Methinks you aren't all that familiar with the machinery of the mortagge market that has developed over the past few decades. And oddly enough, I heard very few complaints as the housing market rocketed upwards, fuelled by all this cash.
FWIW, the people who made the lousy loans have either gone bust or nearly so; those who bought the trashy paper wish they had bever heard of this stuff; teh rating agencies are awaiting a replay of the Congressional ass-whipping session that followed the implosion of the junk market in '02-'03; and everyone else involved has suffered plenty. I think the remedies being proposed are being offered with the intention of limiting the damage to the wider economy, which seems reasonable to me.
|
The reason you didn't hear them Brew is that you labeled them as wearers of tin foil hats and ignored their wisdom, but they surely HAVE been complaining about skyrocketing prices for several years now. I've learned a lot of practical economics from them.
|