Comments on: The Government-Created Subprime Mortgage Meltdown?

By: Phil

Phil — Tue, 23 Jun 2009 02:32:12 +0000

I have to disagree. The sub-prime crisis was created by the lenders, home builders and borrowers out of “GREED”. Lenders teamed up with home builders to take advantage of the low interest rate environment and came up with all kinds of “fancy” loan products to allure those low-income buyers into purchasing homes they couldn’t afford down the road. Our government has been allowing these loan products to be offered to the public. You can say they are particially responsible.

By: godged

godged — Sat, 20 Jun 2009 09:29:11 +0000

I didn’t read all that, and there isn’t a question in there.

Let me guess, you follow Art Bell too.

By: Greg R

Greg R — Wed, 17 Jun 2009 07:37:47 +0000

Good article.

Is there a question with it?

The only thing that I would like to point out is this phrase: “while the Bush administration is proposing an indirect bank bailout by having the Federal Housing Administration cover many of the bad “subprime” loans.”

Don’t think for a minute that “covering bad loans” means that people who cannot afford to pay their loans will be helped by the Federal Housing Authority which will “cover” their loans for them.

The above phrase in the article means that billions of dollars will be given to the Wall Street firms that are responsible financial recklessness to begin with.

Many of these people were getting 7 and even 8 figure salaries and bonuses. Yes, that’s 10 million.

And now taxpayer dollars have to be used to “cover” them.

Mercy teacups! That just isn’t right. These people made milllions upon millions of dollars being deceitful, and now they get government “cover”???

And the poor souls who were tricked into teaser rates continue to lose their homes….